Newbie from AbuDhabi/Dubai

[Taher Afridi]

Hi, I'm new here and new to the whole concept of property investments. I'm based out of Abu Dhabi / Dubai, in the UAE.

I manage Information (Cyber) Security for a living. I want to work towards a passive cashflow/income through property investments in the UAE and abroad as well.

Doing a lot of reading up and looking forward to learn from some of the more experienced users here!

 

Thanks,

 

TA.

[Chris Johnson]

Taher, welcome aboard !

 

I am pretty new to Property investing also but have recently purchased three properties in the UK. My background is in Financial services / Investment and i lived and worked in the UAE for 6 years. I am therefore familiar with the crazy volatility of the property market in the UAE  .   I have witnessed fights break out at a property trade fair over who could get cheques for deposits to the sales representatives  of off-plan developments in 2007. We all know what happened next and for four years afterwards the cranes were swinging in the wind. My advice would be tread extremely carefully if sourcing your domestic market , the regulation and protections commonplace in european markets don't exist to anything like the same degree and can become horribly complicated in the event of death . If you look overseas then familiarise yourself wit the taxation consequences of being a 'non-resident ' Landlord / Investor in whatever jurisdiction you choose.   Hope i haven't dented your enthusiasm too much because there will be many good reasons for getting involved . Important to look at the practicalities also though i think. Good Luck. 

 

 

[Taher Afridi]

11 hours ago, Johno said:

Taher, welcome aboard !

 

I am pretty new to Property investing also but have recently purchased three properties in the UK. My background is in Financial services / Investment and i lived and worked in the UAE for 6 years. I am therefore familiar with the crazy volatility of the property market in the UAE  .   I have witnessed fights break out at a property trade fair over who could get cheques for deposits to the sales representatives  of off-plan developments in 2007. We all know what happened next and for four years afterwards the cranes were swinging in the wind. My advice would be tread extremely carefully if sourcing your domestic market , the regulation and protections commonplace in european markets don't exist to anything like the same degree and can become horribly complicated in the event of death . If you look overseas then familiarise yourself wit the taxation consequences of being a 'non-resident ' Landlord / Investor in whatever jurisdiction you choose.   Hope i haven't dented your enthusiasm too much because there will be many good reasons for getting involved . Important to look at the practicalities also though i think. Good Luck. 

 

 

 

Johno, Thank you for the kind welcome and advice! On the contrary, you've inspired me, I am now pumped to learn more about what entails being a non-resident investor. You hit the nail on the head about the property market here in Dubai, it's either win big or lose big!  Thanks, Best of luck to you too.

TA

[Chris B]

Hi Taher

 

if you are in Dubai on 4th January, why don't you join our meet up at the scene, pier7 dubai Marina, from 7:30pm.

 

its a friendly group of various backgrounds and experience.

 

hope to see you then

 

chris