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Easy to use - Mortgage calculator

Discussion in 'Dubai property' started by Roshan, May 5, 2008.

  1. Roshan

    Roshan New Member

    Pls find attached an easy to use mortgage calculator. Fill in the figures in the yellow spaces and it generates the reports for you.

    You can also access Sunil's site to learn more about smart property investing.

    Sunil is my mentor & guide and I owe my success to him, although he always tells me " you can take a horse to the water but you cannot make it drink ".

    First time investors or recurring investors can get some good tips from his site.

    Regards

    Roshan
     
    Last edited by a moderator: May 6, 2008
  2. relievemystress

    relievemystress New Member

    Thanks, Very nice information
     
  3. Roshan

    Roshan New Member

    Go through Sunil's site, the link is on the mortgage calculator. He has some smart real estate tips which will help you understand before investing.

    Regards

    Roshan
     
  4. Abu Ahmad

    Abu Ahmad New Member

    Hi all

    I am new to the forum although I have been following the various discussions here with interest. I am a beginner when it comes to property investment but nevertheless has a question regarding resale of properties and how to calculate your profit.

    Suppose you purchase a flat off plan for AED 1m and have paid 500k so far in instalments. The property subsequently doubles in value to AED 2m. Is your profit on resale 2m less 500k that is still owed to the developer via instalments so i.e. a profit of 1.5m?

    Or is the profit 500k i.e. simply double what you have paid the developer so far?

    This point has been confusing me somewhat so any help would be greatly appreciated.

    Many thanks
     
  5. jags

    jags New Member

    hi there

    it is maths we learnt in school in 7th standard. well profit= selling price-original price.so if yr 1m property doubles yr profit is 2m-1m=1m.100% profit. but yr investment is only 500k.so when u sell yr property for 2m u get 1m plus yr original investment 500k.so return on yr investment is 200%.yr 500k is turned in to 1500k.
     
  6. Abu Ahmad

    Abu Ahmad New Member

    Thanks Jags....the power of leveraging eh?! One final thing, would the buyer of my property pay me 1.5m up front?
     
  7. jags

    jags New Member

    hi
    :)
    buyer will pay u 1m.ur profit.i m not quite sure whether his 500k will go to developer n urs comes out of developer or simply he pays u 1.5m and yrs 500k turns in to his name.any way u get 1.5m when u sell yr propery.

    jags
     
  8. Abu Ahmad

    Abu Ahmad New Member

    Superb, thanks ever so much for clarifying that for me.
     
  9. stel_g01

    stel_g01 Banned

    online mortgage calculator

    very useful!! Thank you
     
  10. Design Architect

    Design Architect New Member

    Hi

    Hi All,

    This is one of the best Property Sites I have come accross so far. Period.

    The idea for property investment in UAE started in my mind a while ago, but I haven't had any currage to procede with anything. It was all just blur. Now it started to clear up, and I can pick up valuable guidance on this Forum.

    Although I'm an 30 year old Architect/Interior Designer in Dubai, I have never bought property - or done any similar investment in my life. Planing to start now...

    All in all - the site is excelent.
    Thanks

    Dimitry
     
  11. bware

    bware New Member

    Jags is correct it is confusing for those dealing with a transfer or purchasing and understanding the term profit

    The profit is the amount of money above the original developer price ( property for example may have already changed hands several times and no construction commenced, a common transaction and how many have made good returns)

    To make it easy for a buyer ( if your the seller) state the total price which includes transfer and agents commission etc. An annoying practice here is that price quoted will not include additional fees that will materialize out of the desert.

    As has been written by another moderator on this site the practice of applying a 2 percent transfer fee is viewed by RERA as unlawful

    The reality is that if you do not pay the transfer fee then the developer will come up with many excuses why your property can not be transfer.

    Many developers buying back properties these days and in some cases it is easier to sell back to developer and you avoid the hassle of the 2 % charge and also the hassle of dealing with a Buyer who will try and screw you down to the last cent or Fill or penny.
     
  12. Roshan

    Roshan New Member


    Dimitry,

    Read the books by Robery Kiyosaki "Rich Dad-Poor Dad" and "Retire young-retire rich". They are very good books and must read books.

    Regards

    Roshan
     
  13. Design Architect

    Design Architect New Member

    Will do. Thanks Roshan for guidance.
     
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