All Forum Posts by: Michael Volek

 Hi Michael, thank you for introducing yourself and reaching out to me. I am trying to connect with as many investors there as I can, so maybe by the time I get there, I will have some of the resources available to make something happen. How long will you be in Abu Dhabi? I look forward to meeting you.

Michael

Being an AF vet myself, I have to ask, why not use your pre-approved VA home loan? (Unless you already have, of course)

This was a good read. Very insightful, and very useful to for those of us that aren't so savvy. I also liked how you included the numbers and the lessons learned. I'm just curious how often napkins are brought as acceptable documents, haha. 

For a rehabber, wouldn't it be impossible to wait a couple of months before transferring the deed to the LLC? The first month alone carries the highest risk for injury and/or lawsuit, and I wouldn't want to take that chance before transfer. In that case I'd have to form it before buying, correct?

In the next few months I will be making the grand journey to the United Arab Emirates, specifically Abu Dhabi, for a contract that will last for at least 2 years. While I am there I would like to flip and/or buy and hold properties to add to my portfolio, which is completely empty, because I'm as new to the game as a defenseless baby seal. What I'd love to know is how "usufruct" and "musataha" rights or leases, translates to me, the expat investor wannabe. I know I should speak with an attorney, and I would honestly want to wait until I'm physically in the country to consult one, as the online part is sketchy and unreliable (or so I've heard). What I have gathered from just about 10 internet searches, the aforementioned rights or leases are applicable dependent on whether I plan to buy an "off plan" or "resale" property. I won't pretend to know what exactly either of them mean. Basically, for an expat investor, is this sort of thing even feasible? Has anyone done this successfully? Any insight or advice? Opinions?

Thanks,

Michael

 Truth be told there are a few dishonest things we all do. Putting up bandits Friday night and removing them Monday morning before the man wakes up--week after week--sounds pretty ridiculous to me. But this is a marketing tactic. I say give it a shot. If you never get one more for a sell, then you've lost a small bit of time, but if you do, then you've found one more way to get in front of the customer. And honestly, if it's a matter of ethics, just give it the pillow test. Good luck!

Michael

@Tariq Alwahedi, I'm so glad you reached out to me. Sometime in the near future I will have a few questions for you. I'm very curious about overseas real estate and I don't really know how different it is from American real estate, or if I can even take part in it due to my status. Luckily for me I am new to it all so my cup is empty. Maybe you can point me in the right direction?

Thanks for the feedback everyone!

Hey thanks a lot to the both of you. @Gino Barbaro, it's almost a shame that I have to leave before I get a chance to get started here in Tampa. With the market comes some fantastic opportunities...I think I will be returning here when my contract is completed. Maybe then we can get together and discuss some ideas!

I absolutely love the SD area, and since I'm also a veteran itching to use my VA loan to secure a 2, 3, or 4 unit property, I hope you don't mind me following this post! Good luck!