All Forum Posts by: Morgan Nilsen

ill forward this deal to my contacts. They will inform you soon, if this deal is interesting to them. 

Hey Daniel. Reach put to me privately. We have a Dubai group for BiggerPockets we can invite you to. Happy to share my knowledge with you about my cash flow portfolio! I’m currently traveling so I’ll have to keep it short for now but happy to talk more soon!

hello @Kevin Parsley

I’d love to meet with you but it must wait until September as I’ve recently traveled to Norway for the summer. I fly back to Dubai on the 26th of August. 

I’m happy to speak with you before then on skype or chatting on WhatsApp, but as I’m traveling with my daughter, I have limited availability.

I’m thrilled to hear you wish to discuss this topic with you and look forward to sharing my knowledge with you 

I second what Andy is saying. I have several houses in 46226 and I’m very happy with it. 

don’t buy until you understand the market. And the financial situation you are about to consider. I for one think it would be a mistake to buy a 10K property without the capital to cover your *** when things go bad. Many things can go wrong and you need to protect your downside 

Yes it’s possible and not even that difficult if you get set up correctly. I have 6 houses in USA and have taught many others how to do it. I’m Norwegian but live in Dubai. 

Why do you want to invest in Michigan?

Hey @John P.!

Im a norwegian who invest in USA, and can shed some light on the situation for you. 

The primary reason you dont want to invest in apartments is because of the Home owner associations (HOA). They can regulate the activity for the building such as letting you rent out or not, increase the communal fees etc. We have the same problem in Norway except most people have no idea about it. Ive had two apartments in Tonsberg, where im from and one was great, the other was a nightmare. In single family housing, for the most part (unless the unit is in an HOA area), you are in charge of everything.

I think you should only invest in apartments, if you own the whole building or can take charge of the HOA.

Ive been investing in real estate full time for 5 years or so now, two of them in Indianapolis. happy to share more if you want. Reach out to me any time!

@Tiffany Griggs as far as I’m aware, this practice is not legal, but not enforced. This could be wrong so don’t take this as fact until it’s been verified.  At the very least, make sure to get an ok from the landlord if you are leasing from someone else. Dubai has a need for affordable housing, so the demand is there. I have done multiple housing occupants before in Norway and it is very profitable but it requires more management and you will have more tenant issues and vacancies. 

We will discuss this issue further on Friday’s meetup. 

@Sam Josh the exchange risk is not something I would be concerned about. The UAE Dirham is pegged to the dollar so these currencies move together. 

I find that there are other risks related to investing in Dubai however, such as major Developments happening all over the city leaving the investor clueless about supply and demand in the future. Which directly impacts rents and property  value. Another thing I’m looking at is the brand new tax authority that recently introduced VAT on many goods. Only a matter of time before your rental income gets capital gains tax I think. 

If you are purchasing a property in Dubai, also be aware of the 4% stamp duty fee. 

I know several people that invest successfully in Dubai and it might be an ideal market for many investors, but it’s not for me. I like transparency and slow moving market prices so I can predict my investments to a higher degree of certainty. 

Hello @Daniel Trocker,

There are many of us that are active in the real estate game. As far as i know, the people that have responded to this post are still active investors. I haven't organized events in Norway in quite some time as i live in Dubai and organize events here now. Feel free to reach out to me using private messages if you wish to discuss real estate further. I am in the final stages of creating my newest real estate company, so im quite busy these days, but I am happy to answer your questions when i can.

hello @Harry George,

Had a meeting there about a week ago. And you are more than welcome to join our next session. Make sure you put Dubai as a keyword on your profile so you get notified when i post. 

I’m also happy to meet you in person like I often do with many investors in Dubai. Most people I know invest in USA and that also includes myself. 

Send me a private message and I’ll give you my contact details