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Toying with the idea of becoming a LL

Toying with the idea of becoming a LL

Old Apr 1st 2008, 2:54 pm
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Default 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...
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Old Apr 1st 2008, 3:19 pm
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Default Re: Toying with the idea of becoming a LL

Sounds like a plan.
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Old Apr 1st 2008, 3:24 pm
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Default Re: Toying with the idea of becoming a LL

Originally Posted by IndieG View Post
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...
go for it IG...

MM, xx
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Old Apr 1st 2008, 3:45 pm
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Default 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
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Old Apr 1st 2008, 4:44 pm
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Default Re: Toying with the idea of becoming a LL

Originally Posted by IndieG View Post
.....4 Gulf News supplements - 100 pages advertising properties for sale/rent.....

Haven't told my hubbie about "the plan" yet.......lol
Be careful about your tenants though coz I read somewhere today that the LL can be prosecuted if illegals are found on their premises.
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Old Apr 1st 2008, 4:47 pm
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Default Re: Toying with the idea of becoming a LL

don't forget you will have to become mean, heartless and nasty.
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Old Apr 2nd 2008, 1:54 am
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Default Re: Toying with the idea of becoming a LL

Originally Posted by Inselaffen View Post
don't forget you will have to become mean, heartless and nasty.
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.
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Old Apr 2nd 2008, 3:28 am
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Default 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.
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Old Apr 2nd 2008, 8:09 am
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Default Re: Toying with the idea of becoming a LL

Originally Posted by IndieG View Post
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.
Im up in the ranches.the guy next door is selling his house at the moment.It works out to about half a mill in our money.thats for a 3 bed with pool.
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Old Apr 2nd 2008, 11:27 am
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Default Re: Toying with the idea of becoming a LL

Originally Posted by MissDemeanor View Post
Im up in the ranches.the guy next door is selling his house at the moment.It works out to about half a mill in our money.thats for a 3 bed with pool.
and 4/5 beds are 6-8m dhs in ranches and meadows...

MM, xx
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Old Apr 2nd 2008, 11:34 am
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Default Re: Toying with the idea of becoming a LL

Originally Posted by Madam Medusa View Post
and 4/5 beds are 6-8m dhs in ranches and meadows...

MM, xx
Bloody hell we had the offer of a 5 bed in meadows when we arrived 5 years ago for 1.5m
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Old Apr 2nd 2008, 11:38 am
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Default Re: Toying with the idea of becoming a LL

Originally Posted by Fairydust View Post
Bloody hell we had the offer of a 5 bed in meadows when we arrived 5 years ago for 1.5m
i know, it's mad isn't it...!

MM, xx
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Old Apr 2nd 2008, 11:54 am
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Default Re: Toying with the idea of becoming a LL

Originally Posted by IndieG View Post
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...
So...Are you still toying with the idea???
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Old Apr 2nd 2008, 12:11 pm
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Default Re: Toying with the idea of becoming a LL

Originally Posted by Confucius View Post
So...Are you still toying with the idea???
she looked like she was in a toying mood when i saw her at lunchtime...

MM, xx
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Old Apr 2nd 2008, 12:13 pm
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Default Re: Toying with the idea of becoming a LL

Originally Posted by Madam Medusa View Post
she looked like she was in a toying mood when i saw her at lunchtime...

MM, xx
Oh really now...
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