Toying with the idea of becoming a LL
Apr 1st 2008, 2:54 pm
#1
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Toying with the idea of becoming a LL
am just wondering, with interest rates so low (and the fact that i can now get a loan @ a special rate of 2.5% (or linked to the base rate with no margin), and no bank fees etc) should I buy-to-let? If I can get the rent to pay off the monthly EMI - I should be ok...
So what do you think??
I think I'll make a nice LL - will take monthly payments, no increase in rent, long term contract so that the tenant also has some stability....
PS: Am not April Fooling...
Apr 1st 2008, 3:19 pm
#2
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Re: Toying with the idea of becoming a LL
Sounds like a plan.
Apr 1st 2008, 3:24 pm
#3
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Re: Toying with the idea of becoming a LL
am just wondering, with interest rates so low (and the fact that i can now get a loan @ a special rate of 2.5% (or linked to the base rate with no margin), and no bank fees etc) should I buy-to-let? If I can get the rent to pay off the monthly EMI - I should be ok...
So what do you think??
I think I'll make a nice LL - will take monthly payments, no increase in rent, long term contract so that the tenant also has some stability....
PS: Am not April Fooling...
MM, xx
Apr 1st 2008, 3:45 pm
#4
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Re: Toying with the idea of becoming a LL
.....4 Gulf News supplements - 100 pages advertising properties for sale/rent.....
Haven't told my hubbie about "the plan" yet.......lol
Haven't told my hubbie about "the plan" yet.......lol
Apr 1st 2008, 4:44 pm
#5
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Re: Toying with the idea of becoming a LL
Apr 1st 2008, 4:47 pm
#6
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Re: Toying with the idea of becoming a LL
don't forget you will have to become mean, heartless and nasty.
Apr 2nd 2008, 1:54 am
#7
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Re: Toying with the idea of becoming a LL
lol......I don't think I could even if I attempted to...
I won't have illegal tenants - will ask for PP and residence visa..
Have to figure out where yields are the highest. I am thinking either Ranches or Meadows as both these developments have low maintenance outgoings.
I won't have illegal tenants - will ask for PP and residence visa..
Have to figure out where yields are the highest. I am thinking either Ranches or Meadows as both these developments have low maintenance outgoings.
Apr 2nd 2008, 3:28 am
#8
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Re: Toying with the idea of becoming a LL
OK - You can borrow money competitively at present. But...what about the actual buying price?
Are prices at a peak in Dubai, waiting for a correction as various developments become completed, or is there still the potential for growth?
One sector markedly absent in Dubai is fully furnished renting that the more mid-term transient expats, such as myself, look for. This was readily available in Qatar and Bahrain - everything included with the rent: utilities, satellite TV etc.
I would only get involved in a location I knew very well - I guess I would need 5 years somewhere to really get a feel for the ins and outs of the market. Hence I stay with my area of the UK. Being both a tenant and a landlord I get to see both sides of the coin.
Are prices at a peak in Dubai, waiting for a correction as various developments become completed, or is there still the potential for growth?
One sector markedly absent in Dubai is fully furnished renting that the more mid-term transient expats, such as myself, look for. This was readily available in Qatar and Bahrain - everything included with the rent: utilities, satellite TV etc.
I would only get involved in a location I knew very well - I guess I would need 5 years somewhere to really get a feel for the ins and outs of the market. Hence I stay with my area of the UK. Being both a tenant and a landlord I get to see both sides of the coin.
Apr 2nd 2008, 8:09 am
#9
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Re: Toying with the idea of becoming a LL
lol......I don't think I could even if I attempted to...
I won't have illegal tenants - will ask for PP and residence visa..
Have to figure out where yields are the highest. I am thinking either Ranches or Meadows as both these developments have low maintenance outgoings.
I won't have illegal tenants - will ask for PP and residence visa..
Have to figure out where yields are the highest. I am thinking either Ranches or Meadows as both these developments have low maintenance outgoings.
Apr 2nd 2008, 11:54 am
#13
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Joined: Dec 2006
Posts: 23,434
Re: Toying with the idea of becoming a LL
am just wondering, with interest rates so low (and the fact that i can now get a loan @ a special rate of 2.5% (or linked to the base rate with no margin), and no bank fees etc) should I buy-to-let? If I can get the rent to pay off the monthly EMI - I should be ok...
So what do you think??
I think I'll make a nice LL - will take monthly payments, no increase in rent, long term contract so that the tenant also has some stability....
PS: Am not April Fooling...