Overseas investment - Oversea in general, Dubai in particular.

I invested in Dubai via an agent with a deposit of £12k. After some time we realised that the agent had told a few untruths. i.e mortgages are not easy to come by, interest rates are high and that the freehold was in question (now resolved). We were also told that we could sell on before the property was built-again false information. We are now in a court battle trying to recover our deposit. My point is that whilst overseas property can be lucrative, it can also be a bit more of a minefield compared to UK. My advice would be as always buyer beware and do not go through any agents. Always deal with the developer direct Andrew West

Well, Mr Andrew west. If you need help I can offer. I m not an agent neither Im into Real estate. I just like to keep a track of international investments.

Im from Dubai. my contact is 00971503838396

I work for a government company.

You are right in some aspect and wrong in some. I can get you your ownership status. Freehold is not in the question it just you have contacted the wrong guy. Buying property which are next to completion is a good investment. Since Most of my friend are in real estate they keep telling me about what goes on. If you need help I can assist you.

Property can be sold before is ready, is right. You can do that if you get a buyer who is ready to buy from you. If you want you deposit back that will not be possible.

Investing in dubai is good. But you should always do your surveys. Buying from agent who just take their commission and go away is foolish mistake. Buy houses directly from agent who have been authorised by the builders. No builder will offer you flat or villa which are completed. They will only offer you plans. And completion in 4 years time.

Leasing is not easy and the interest is high. 100% right. But look at the returns.

All i can say is you went to the wrong person and had a bad experience. Take my advice dont sell what you have try to pay the complete thing. And then sell you complete file.

Mr. Andrew I just spoke to one of my friends. He told me if you tell me what you have invested in and if there is a buyer available he can get you back your money and a small profit on your investment.

Im not assuring you anything. It just to help you.

Where have you invested . Palm, Spring, marina. etc.

Just to give you what I invested in. We three friend bought a villa 2 1/2 years back in springs. We rented for 2 years and still is on rent for 89,500 year. we bought it for 550,000. Now the valve is 720,000 approx. So you see we made money and the valve also increased. This what we say as good investment. We will sell it after 3 yrs.

Buy when it next to completion, put it on rent for 5 yrs and then sell it .

Further more see how it works.

Your will get your money from leasing (rent) every 6 month. Get some kind of finance where you have to pay every 6 month. or work out the amount to be 6 month rent divided by your 6 month installment. So you wont get anything in your pocket for 5 years, but will cover half of what you invested. And the valve of you property valve will also go up. If you want to continue or sell that is up to you. At the moment the market it going toward peak rates. If you want to sell its a good oppurtunity.

So just keep me informed if i can help I will do my best.

I think it's a little extreme to say never use an agent.

We make sure that all of our due dilligence is complete before we offer any development. I do understand that not all agents undertake this process and can be taken in by 15%+ commissions.

If you use a good agent then at least you'll have someone acting on your behalf.