refinancing or selling High

[Sajid Y.]

Hi,

I have 3 apartments.

With 40% equity and balance is debt.

By 2015 I need to have 50 apartments in Dubai.

I am unable to work out a plan to achieve the same.

Here are some ideas which I think are worth discussing.

If the experinced guys can help me out on this I would be grateful.

Beginning with the end in mind.

To buy 50 apartments I need 25% down payment cash and 75% Debt.

12.5 Million Aed Cash. for down paymnet

37.5 Million AED Debt.

In a year time. I have 3 Apartments. 60% Debt and 40% equity.

Markets are appreciating in Dubai, but I am not sure how would it be possible to acheive the target.

One idea is to sell these apartments and buy other apartments with better ROI. where in Debt is more and bring down the equity.

I can buy upto 7 apartments one bed each costing 900K AEd. Again there will be a full stop. And I will have to wait for the properties to appreciate.

Buy 14 in 2013. 28 in 2014 and 50 in 2015.

Then repeat the process. refinancing can also done. But it does not improve the ROI. Is ther any other option I am missing. Any ideas??

One of the options I am seriously considering is to invest else where in the world like Spain where I can get 100% mortgage or in US where the options are plenty.

Creative financing is very much available.

I get a huge leverage and the credit as well.

let me know your thoughts please.

Saj.