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Thanks Arnie,someone else who sees sense thank God.I havent figured out myself yet why she's giving me such a hard time.I think I'm being held responsible for the high rents in dubai.
As for my place.It looks like I'll be getting the full 75.000,got two separate clients apparantly who want it so hope to get a contract signed any day.
I wish I was in Dubai now so as I could take Chocs out to celebrate.

Chocoholic wrote:Alex, get over it, you are obviously thick as a plank as you just don'tget it. So it's pointless explaining it to you. I know the market, I know what's what, I know what's fair and what's not.

You're just a plonker.

And why am I a hypocrit? Your apartment is a good size, has great facilities etc etc. But the area is dubious to say the least.

For rental incomes, I would take the highest and lowest and place the property somewhere in the middle, good all round, no probs. You're just pissed because people are justifying the fact that the area doesn't validate those kind of rents, adn we have better ideas that you didn't think of.

change career mate, cause clearly it doesn't suit you to be in Real Estate - hahahaha

Chocs you may have to retract this post, remember when you posted this

Chocoholic
Miss DubaiForums 2005



Joined: 31 May 2005
Posts: 5548

Posted: Thu Jan 05, 2006 12:14 pm Post subject:

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I wouldn't bother buying property here, to many unknowns and no security, resale values etc.

Alex1111 wrote:Thanks Arnie,someone else who sees sense thank God.I havent figured out myself yet why she's giving me such a hard time.I think I'm being held responsible for the high rents in dubai.
As for my place.It looks like I'll be getting the full 75.000,got two separate clients apparantly who want it so hope to get a contract signed any day.
I wish I was in Dubai now so as I could take Chocs out to celebrate.

People like Chocs are always the "wise ones" with hindsight Alex. And those same people are the ones that laughed at people like me who had "foresight"

Who laughing now ehhhhhhhhhh ??

Now me, with the benefit of doing this for longer than most of your ages, i am saying DO NOT BUY.

This post will appear in 3 years time and i guarantee there wil be tears, i will try not to laugh at those who have lost money they cannot afford.

Arnie thanks for emphasising what I've already established and that is that Chocs is a hypocrite.
Why do u say do not buy now?Most reports say oversupply will occur around 2011/2012 but who knows.No-one can predict how many people will move to dubai in the next few years so who can say when oversupply will occur.
I think to invest in dubai is for the long term.If u are able to ride out the inevitable price corrections then on the other side u should be ok.
Dubai needs to work hard to encourage businesses to open up there.
The fact that Business Bay is still a baby doesnt help yet when finished thousands will work there.
I think in 5 years when the metro is almost finished,alot of the construction in Dubai centre is finished,and many of the wonderful projects are opened then people will flock there.For now alot are put off by the mess.

Yawn - ZZZZZZZZZZZzzzzzzzzzzzzzzzzzzzzz

Arnie, we already know that you have a 'biased' opinion.

Plus you seem to have missed that fact that I've already wished you luck with it on several occassions, if you can do it great! But just be aware of other factors is all.

Nothing left to say in this discussion.

Choc u need to come back with a valid argument to restore some sort of credibilty.You've already proved you are a hypocrite on two points.

She doesn't have to prove anything to you. We haven't forgotten yet that you quoted an article without stating the source. Shame on you man.

OMG u jerk are u for real ! what the hell has that got to do with anything?!
I put the source in after,I forgot the first time and didnt think whiners like u would wet themselves over it.Ask your friend who put u up to this to explain her hypocrysy or go away and play somewhere else !

Chocoholic wrote:
Nothing left to say in this discussion.

Yipee!! Not like it is worth anything listening to anyway. lol

onetickin wrote:

Chocoholic wrote:
Nothing left to say in this discussion.

Yipee!! Not like it is worth anything listening to anyway. lol

Chocoholic wrote:Arnie, we already know that you have a 'biased' opinion.

Plus you seem to have missed that fact that I've already wished you luck with it on several occassions, if you can do it great! But just be aware of other factors is all.

Nothing left to say in this discussion.

dont understand the biased opinion Chocs, it makes no sense. However, i do have an opinion yes.

You know what Chocs, i have tried to tell you about the Cube, you are blinded by those that have tried to sell you something and you have taken the hype, hook line and sinker.

But obviously your "friends" know better than Emaar and Somerset House who have both tried to run serviced appartments in the Marina and both have failed miserably.

Serviced appartments cannot compete with hotels. The cube is not and never will be a 5 star hotel on the basis of owners subletting their appartments back to the holding company.

Me, it makes no difference to me Chocs, you go ahead and borrow the money to finance a project that clearly the developers do not have enough faith or clout in funding their own Hotel with their own finance.

They are not taking the financial risk are they ?- you and 250 others are. As i have said before Chocs i also wish you luck, you are very very brave indeed.

Its a gamble, nothing more nothing less. If it fails you are in really deep s.h.i.t.

spoonman wrote:She doesn't have to prove anything to you. We haven't forgotten yet that you quoted an article without stating the source. Shame on you man.

hahahah a Classic.. classic spoon man I couldnt stop laughing..

Aight.. I read the whole thread..

Alex - Good on you mate.. I've been interacting with DSO authorities on some business, SO is soon gonna be big. A lot of companies are opening up there. A whole lot of DAFZA, DMC, DIC companies are moving to SO.
Apart from that, the Academic city also adds value to the area. It's agreeable that the area lacks any sort of infrastructure at the moment.
But to be honest.. I'vent seen many other places apart from Bur Dubai that has all the amenities at an arm's distance.

To say anything about rent, I can only be with Chocs and Scarlet coz i'm just a poor consumer. but it is the market rates and market forces that decide the rents..
hey, you took the place to do business.. so nothing wrong in asking what ever price u feel like asking.... and honestly I think its the big business groups who have to be blamed for the un-reasonable rents.

Chocs - All the best with your business venture.

Arniegang - You rock. Can you gift me some of your money or can I have one of your apartments for rent (obviously at a lower rate )

Alex1111 wrote:Arnie thanks for emphasising what I've already established and that is that Chocs is a hypocrite.
Why do u say do not buy now?Most reports say oversupply will occur around 2011/2012 but who knows.No-one can predict how many people will move to dubai in the next few years so who can say when oversupply will occur.
I think to invest in dubai is for the long term.If u are able to ride out the inevitable price corrections then on the other side u should be ok.
Dubai needs to work hard to encourage businesses to open up there.
The fact that Business Bay is still a baby doesnt help yet when finished thousands will work there.
I think in 5 years when the metro is almost finished,alot of the construction in Dubai centre is finished,and many of the wonderful projects are opened then people will flock there.For now alot are put off by the mess.

Alex most of my opinions are posted in the other thread here in Accom. Basically though you have answered your own question. Oversupply will start to take effect if the published completion figures are correct starting in 2010. Anyone buying "off plan" now will hit the market 2010/11.

It is generally agreed the market is currently over inflated by 20%. This figure can only increase in the short term whilst everyone is trying to get on the bandwagon.

To be frank there maybe money to be made, there may not. The question you have to ask yourself is can i afford to wipe 20-30% from my investment. Its a gamble ... thats it.

I was buying stuff when they were selling 1 beds in JBR @ 500k dirhams. Then it was not so much as a risk as it is now. Also i dont have to borrow the money, so i was gamblimg with my own funds. Also dont forget then Emaar and the others were only asking 30% deposit the balance on completion. So i was only gamling with around 200k.

Its no different to a casino. If you cant afford to loose it, dont gamble it.
When i f.u.c.k up i admit it and my biggest one was not buying off plan in Arabian Ranches when they were offering 4 bed plus maids for just over 1 million Dhs. Its easier to kick yourself and say "i wish" without losing a dirham, than believe you are going to make millions and end up losing bucket loads of cash.

Ask any Brit who bought in Florida or Spain 2 years ago, how happy they are with their investment. Thats if the have not already slashed their wrists.

"hey, you took the place to do business.. so nothing wrong in asking what ever price u feel like asking.... "

Only asking for what I was advised on.
Please translate DAFZA,DMC,DIC?I'm a little dense(not as much as Choc & Co)

1 BED JBR FOR 500?! I HATE YOU ! I HOPE DUBAI GETS HITS BY AN EARTHQUAKE AND ONLY JBR TUMBLES !

Errrr,anyway.My plan is to see what the market is like a year from now when the 1 year contract my new tenant is about to sign expires.
If it looks ok I'll keep another year and do the same.If things are starting to slow up by then and not looking good then I'll sell.

Missed your bit about Arabian Ranches.My fiance brought there and its worth a bomb.
I wish in the UK 3/4 years ago they had reported on the Dubai market as much as on Bulgaria,Spain zzzz etc.For sure me and many others would have invested.It's only since beginning of last year I became aware of what was going on out there but by then it was too late to go for the good stuff.

Alex1111 wrote:"hey, you took the place to do business.. so nothing wrong in asking what ever price u feel like asking.... "

Only asking for what I was advised on.
Please translate DAFZA,DMC,DIC?I'm a little dense(not as much as Choc & Co)

Like I said, you took the place to do business, u r gonna ask the maximum u can make, n consumers like me ..I'm always gonna say ooh u are so greedy.. hahaha
but does it hurt? nope. If I buy a property here i'm gonna ask whatever best it can get.

I dont know what was that fight all abt.. may b Chocs has diff view.. which just doesnt match yours.. let it b n rolll on.

btw Dubai Airport Free Zone, Dubai Media City, Dubai Internet City.

Alex1111 wrote:1 BED JBR FOR 500?! I HATE YOU ! I HOPE DUBAI GETS HITS BY AN EARTHQUAKE AND ONLY JBR TUMBLES !

Errrr,anyway.My plan is to see what the market is like a year from now when the 1 year contract my new tenant is about to sign expires.
If it looks ok I'll keep another year and do the same.If things are starting to slow up by then and not looking good then I'll sell.

actually prices started at 480k Dhs. Emaars 2nd phase Marina was 680k but this included all appliances etc.

Alex, you are ok, rent your appartment for 2 years and the worst you could achive is break even even if there was a readjustment of prices. My concern is those twats who are buying off plan NOW and are paying the developers costs to build it, and having to borrow the money to do it.

I got no beef with Chocs, i am just sad to see people out there willing to risk money they havent actually got. Dubai has not yet experienced "negative equity".

Alex1111 wrote:Missed your bit about Arabian Ranches.My fiance brought there and its worth a bomb.
I wish in the UK 3/4 years ago they had reported on the Dubai market as much as on Bulgaria,Spain zzzz etc.For sure me and many others would have invested.It's only since beginning of last year I became aware of what was going on out there but by then it was too late to go for the good stuff.

We can all make money with hindsight mate, the difficult bit is making money with "foresight".

I was in dubai in May 2002 when the Shiek announced "freehold". And that was because Marina phase 1 (marina walk) was a total flop. No one with more than 3 brain cells was ever going to invest with a 99 year lease.

"Alex, you are ok, rent your appartment for 2 years and the worst you could achive is break even"

Brought it a year ago and has shot up so would expect more than break even.However if thats the worst it gets then I'll take it.

Alex1111 wrote:OMG u jerk are u for real ! what the hell has that got to do with anything?!
I put the source in after,I forgot the first time and didnt think whiners like u would wet themselves over it.Ask your friend who put u up to this to explain her hypocrysy or go away and play somewhere else !

guess I pushed the right button.

spoonman wrote:

Alex1111 wrote:OMG u jerk are u for real ! what the hell has that got to do with anything?!
I put the source in after,I forgot the first time and didnt think whiners like u would wet themselves over it.Ask your friend who put u up to this to explain her hypocrysy or go away and play somewhere else !

guess I pushed the right button.

guess no-one else wants to play

dude, check this ad

2 bedroom apartment in the same place with lower price that your 1 bedroom apartment. You are asking for an unreasonable price. you are saying that this place would be smashing in two years, but your contract is for 1 year, the tenant should not give a shit. Can you rent it out with that price? Well, most likely you can. There are a lot of stupid people in this world and most of them are in high places and surely one of them with the IQ of 50 will rent your place with one cheque. but it still means that your are asking for fkng ridicules price.



and you are right. no one to play with, have to amuse myself with people like you.

In business why care about reasonable. Get as much as you, even if someone else thinks it is fkng ridiculous prices. It's only unreasonable if you can't obtain it, but clearly as spoonman has stated there is some fool that will.

You complete and total moron ! that ad is for a flatshare,not the whole f.rigging appartment !
Am I asking for a "fking ridiculous price"?,well of course I am !!
Why !? Cos thats the going rate based on the dubai market so why am I going to go for less !!!!!!?????Give me strength !
Go get your girlfriend to admit when her appartment is ready,she will be asking the going rate regardless of how expensive it is !?(errr,mind you,according to my buddy on here,she'll have to go for above the rate to cover her costs.Whoops)

Alex1111 wrote:You complete and total moron !

good one. I'm not in insulting you or saying that you shouldn't do it. read it again. I said the price is fkng ridicules and I said you can rent it out. but not becasue you are one street smart badass investor, just because some people think with their arse.

I'm not familiar with flat share concept 'cause I never did it. but isn't it when two people share a place and split the price by half (which in that case would be 3500 x2 = 7000)?

and I didn't care about your apartment in the first place. but I get a kick from your posts when you get emotional and start cursing.

chocohalic, I'm sorry he found out. didn't want the people on the forum know about us.

spoonman wrote:

Alex1111 wrote:You complete and total moron !

good one. I'm not in insulting you or saying that you shouldn't do it. read it again. I said the price is fkng ridicules and I said you can rent it out. but not becasue you are one street smart badass investor, just because some people think with their arse.

I'm not familiar with flat share concept 'cause I never did it. but isn't it when two people share a place and split the price by half (which in that case would be 3500 x2 = 7000)?

and I didn't care about your apartment in the first place. but I get a kick from your posts when you get emotional and start cursing.

chocohalic, I'm sorry he found out. didn't want the people on the forum know about us.

Onetickin and Arnie,please tell this bonehead he did infact presume that ad was for the whole 2bed appartment.
Spoonhead, the costs of a flatshare are not divided in half when one of the persons is the owner.Even someone with a dissapearing brain like you should know that.

This should move to FC. Name calling and whatnot. So offensive to the newbies. Also, a MOD said
F
U
C
K
in an open forum.

Er Bonehead, no that's right, when one shareer is the owner, the other person nomrally pays more, which er in this case would make the total yearly rental evens less than was stated - hahahahaha didn't quite think that one through did you now.

Arnie, I'm offended by your comment, who says I don't have the money? Never assume!