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United Arab Emirates - دار زايـــد The exciting new world in Dubai , Abu Dhabi and other Emirates



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Old October 25th, 2009, 05:46 PM   #20061
chefdude
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Best thing that a landlord living outside the UAE can do is to get a reliable person to manage his property for him. It saves a lot of pain in the end and arranging a trip to come here and sort out problems is never cheap. You will pay a percentage of your rental price but it should be viewed as an insurance policy to cover what may go wrong!
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Old October 25th, 2009, 05:49 PM   #20062
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Quote:
Originally Posted by chefdude View Post
Best thing that a landlord living outside the UAE can do is to get a reliable person to manage his property for him. It saves a lot of pain in the end and arranging a trip to come here and sort out problems is never cheap. You will pay a percentage of your rental price but it should be viewed as an insurance policy to cover what may go wrong!
it seems to be difficult one thing i have learned in life is that if you want something done right do it your self but i have alot of commercial property here in america and i have one lady and her employees who collect the rent for me and she does everything i need some times i need to be present to make sure things go the way i want them to but as long as you hire somone or a company and pay them 5% of the gross rent this should be good enough

Last edited by iownyou; October 25th, 2009 at 05:59 PM.
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Old October 25th, 2009, 06:17 PM   #20063
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Originally Posted by glover View Post
P.S. a piece of advise, try not to frame things in a racial way, it really makes you look pretty bad!
Give me break Glover I've already said sorry.


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Perhaps my comment about Arabs was over the top and I apologise if I've upset any Arab people, it's not right to generalise I know
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Old October 25th, 2009, 06:19 PM   #20064
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Seems it's still OK for everybody to slag off the Yanks on this thread though.
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Old October 25th, 2009, 07:34 PM   #20065
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cheers for that!!

but why are you selling at a big loss! why not wait! it is really the worst time now to capitulate, the market is going to strengthen for off-plans in the marina imo, sooner than you think!

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Give me break Glover I've already said sorry.

Last edited by glover; October 26th, 2009 at 01:15 PM.
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Old October 25th, 2009, 07:37 PM   #20066
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....
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Old October 25th, 2009, 08:20 PM   #20067
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He's getting out of Select and moving his money to Cayan before prices go back out of reach
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Old October 25th, 2009, 11:42 PM   #20068
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Quote:
Originally Posted by Morrismarina View Post
Look cockhead, it's not my developer (who isn't a white man by the way) that's took away my visa, it's the Dubai Goverment. They're a bunch of lying, cheating crooks, encouraged me to invest in their currently by having a 3 years visa on offer then removing it. And you expect me not to be unhappy about it ?
By your own admission you went against your friends advise. So, you are not difficult to figure out. I can imagine, since you were in such a bullish mood at the time, you also signed on that dotted line and drooled over the BS, Select Properties was dishing out to you.
I can guarantee you that no government will promise an alien the right to entry without checking them out first.
So, read your contract 'cockhead' and quit blaming the world for your own mistakes.
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Old October 25th, 2009, 11:54 PM   #20069
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u did mention china was communist and both china and russia have embarked on the road to democracy - sounds like politics to me. hence my comments on politics and religion.
i suppose ffs means "full of shit"?? so u don't think talking abt a country's political/religious leanings has anything to do with the visa quagmire that many dubai investors are stuck with??
n by "pissed off" do u mean drunk or angry? maybe i'm growing duller by the day, but cannot for the life of me understand unnecessary personal comments that aren't even clear. and midnight express? care to elaborate? or do u intentionally intend to be obtuse.
Sorry, I should have expanded on my reference.
I was eluding to two nations (China/Soviet Union) with enormous history and idiologies that are now open markets. Dubai is merely a toddler and will of course suffer some knocks before it's able to walk.
I do understand that investors are locked into Dubai's future, me included. But, from time to time, the odd character can not handle the stresses of their circumstances and spill their bile onto this forum.
Take MM's example. How insulting was he to Arabs.
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Old October 26th, 2009, 08:00 AM   #20070
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This report suggestas that Dubai will be emerging leaner and stronger

Five months is a long time to be away from my home in Dubai ; my second home, that is ; and as we touched down at Dubai International, courtesy of Emirates airlines, (probably the best airline anywhere), I wondered if things had really got as bad as the scare-stories would have us believe.

For the world's media have certainly seized upon Dubai as the fallen idol of the Middle East , once they wrote, the byword for 21st century, futuristic architecture and unrivalled prosperity, the epitome of luxury and excellence' and now depicted as a ghost town of empty shops and restaurants, and huge deserted building-sites topped by motionless cranes, silent in the midday sun.


http://gulfnews.com/business/opinion...onger-1.519122
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Old October 26th, 2009, 08:24 AM   #20071
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Dubai planning to unveil $6.5b bond

The latest programme, to be finalised in the next few days at the end of its roadshow, comes as the cost of insuring Dubai's debt falls towards a recent one-year low.

http://gulfnews.com/business/economy...-bond-1.519222
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Old October 26th, 2009, 11:20 AM   #20072
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Hi AltinD,

I am not that experienced in using Skyscrapercity. I understand that you think the new thread was not proper. If I know the reason I will be a better user. (I didnot open the the thread but did suggest that it was a good idea)

Thanks..
This is a forum for Skyscrapers, construction and Architecture so we try to keep the Real Estate part of it to a minimum.
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Old October 26th, 2009, 11:31 AM   #20073
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UNDone!!
Well done, AltinD....Show them who is the boss around here!!
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Old October 26th, 2009, 11:59 AM   #20074
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Lloyds TSB International Buy to let mortgages includes Dubai Villas.

Lloyds TSB are offering buy to let mortgages in Dubai at 50% LTV and 3.5% above the Bank of England base rate if you sign on a sterling mortgage. This would become 4% at the current BOE rate of 0.5%. They will only consider 70% of rental income in calculating amount of offer. So you still need plenty of capital.

You can take the mortgage in dollars and it becomes 3.5% above the cost of funds rate(not sure what that means) Doing it in dollars means you won't get caught up in the currency exchange trap unless they delink the Dirham.

Could be valuable to people struggling to pay the last installment of a newly completed property or for someone who owns a couple of mortgage free Dubai properties looking to buy some more

Just noticed they don't lend on apartments yet just villas

here is the link; http://www.lloydstsb-offshore.com/in...rtgages/rates/
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Old October 26th, 2009, 12:08 PM   #20075
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http://www.thenational.ae/apps/pbcs....ANCE/710239886

Interestingly he bought the property in Cyprus, while he was partying in dubai.
Is cyprus such an attractive place for real estate?
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Old October 26th, 2009, 01:04 PM   #20076
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Originally Posted by HappyLarry View Post
By your own admission you went against your friends advise. So, you are not difficult to figure out. I can imagine, since you were in such a bullish mood at the time, you also signed on that dotted line and drooled over the BS, Select Properties was dishing out to you.
I can guarantee you that no government will promise an alien the right to entry without checking them out first.
So, read your contract 'cockhead' and quit blaming the world for your own mistakes.
That's very unfair. We bought an Emaar villa, not for the visa but because rents were going so high that the mortgage payment was less than the rent. Emaar very clearly said they would help buyers who were not working obtain a visa. They even printed out a fact sheet on the procedure to apply for the visa. Developers obviously had the go ahead from the Dubai government to get visas for property buyers but gov policy has since changed. To say it was anything other than misrepresentation or a change in policy is unfair to those who took official documents from gov developers at face value and in good faith.
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Old October 26th, 2009, 01:06 PM   #20077
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Originally Posted by Dubaiiscool:) View Post
Five months is a long time to be away from my home in Dubai ; my second home, that is ; and as we touched down at Dubai International, courtesy of Emirates airlines, (probably the best airline anywhere), I wondered if things had really got as bad as the scare-stories would have us believe.


http://gulfnews.com/business/opinion...onger-1.519122
It reads as a "thank you note" for a free holiday. Nothing of substance in it at all.
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Old October 26th, 2009, 02:26 PM   #20078
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Another doom n gloom article

Deyaar cuts 20% staff

http://www.thenational.ae/apps/pbcs....NESS/710269992
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Old October 26th, 2009, 04:02 PM   #20079
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That's very unfair. We bought an Emaar villa, not for the visa but because rents were going so high that the mortgage payment was less than the rent. Emaar very clearly said they would help buyers who were not working obtain a visa. They even printed out a fact sheet on the procedure to apply for the visa. Developers obviously had the go ahead from the Dubai government to get visas for property buyers but gov policy has since changed. To say it was anything other than misrepresentation or a change in policy is unfair to those who took official documents from gov developers at face value and in good faith.
Emaar very clearly said they would help buyers who were not working obtain a visa.

My Damac contract says the same. No one has guaranteed me anything. It is just a clause in the contract. Sure, it pisses us off but at the end of the day, the Dubai government can not be held responsible and can not be expected to open doors to all and sundry.
Whatever the outcome, we will remain their guests and it is for them to decide if we stay or go. That is the norm elsewhere too.
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Old October 26th, 2009, 04:44 PM   #20080
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Originally Posted by HappyLarry View Post
.

Whatever the outcome, we will remain their guests and it is for them to decide if we stay or go. That is the norm elsewhere too.
Never doubted on that one and thats why I feel ok and I believe most of us made some good money by investing here wisely. For those who did not calculate the overall risk and invested everything they earned probably are in deep shit. I have a few friends who invested in Ajman and couldnt even get a cancellation to get some money back from developers.
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