Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Michael Tal

Michael Tal has started 0 posts and replied 44 times.

Post: Hello From Dubai (UAE)

Michael TalPosted
  • Developer
  • London
  • Posts 45
  • Votes 33
Originally posted by @Mamon Shareef:

@Michael Tal

Oh that futuristic city

Are they already start building yet?

 Development will start in the 2nd quarter of 2019 but won't finish until late 2021 I believe. Even then I don't think it will be viable for people to start living there since plans for an airport haven't been started yet and that will take longer.

Post: Hello From Dubai (UAE)

Michael TalPosted
  • Developer
  • London
  • Posts 45
  • Votes 33
Originally posted by @Mamon Shareef:

@Michael Tal

which arab country? and what do you consider a good ROI

I am and Michigan USA and i was making anything from 12-15% on my rental

in dubai they told me i would make guarantee 8% so i wanted to give it a try, but after you factor in everything else from the obvious ones like utilities and maintenance fees to the less obvious like property management, currency exchange and transfer fees you're lucky if you can clear 5%

and currently there are overwhelming supply there are massive projects being built that mean rental prices will keep declining

 Saudi Arabia but in their upcoming city NEOM that'll be built north-west. 

Post: Hello From Dubai (UAE)

Michael TalPosted
  • Developer
  • London
  • Posts 45
  • Votes 33
Originally posted by @Mamon Shareef:

Hello and welcome

I just to say and warn anyone thinking about investment in real estate in Dubai to stay away coming from an exaprince

Dubai is a great place to vist and enjoy a vacation but real estate investment is not worth it

 How come? My team and I are currently working on a property development project in an Arab country and the figures seem extremely good.

Post: Does anyone have any experience with syndicates?

Michael TalPosted
  • Developer
  • London
  • Posts 45
  • Votes 33
Originally posted by @Wilson Purcell:
Originally posted by @Michael Tal:
Originally posted by @Wilson Purcell:
Originally posted by @Michael Tal:
Originally posted by @Yosi Levi:

 Can’t speak for all syndicates of course as I only have experience in the one I’m currently part of, but we definitely focus more on wholesaling projects that would be out of our financial reach individually. That’s the main benefit from pooling our money together, the fact that we can get access to deals that the average real estate investor can’t secure due to lack of funding. 

 Sorry for the late response but I'm new to the website, how can I go about finding a syndicate/team of real estate investors? It's something that I'm looking for.

 Try getting to know some people on this website I suppose, although that's not how I met my team. If you want, I could introduce you to them. We're always looking for new members as it's mutually beneficial.

ok I'll message you

 Sure thing

Post: Does anyone have any experience with syndicates?

Michael TalPosted
  • Developer
  • London
  • Posts 45
  • Votes 33
Originally posted by @Wilson Purcell:
Originally posted by @Michael Tal:
Originally posted by @Yosi Levi:

 Can’t speak for all syndicates of course as I only have experience in the one I’m currently part of, but we definitely focus more on wholesaling projects that would be out of our financial reach individually. That’s the main benefit from pooling our money together, the fact that we can get access to deals that the average real estate investor can’t secure due to lack of funding. 

 Sorry for the late response but I'm new to the website, how can I go about finding a syndicate/team of real estate investors? It's something that I'm looking for.

 Try getting to know some people on this website I suppose, although that's not how I met my team. If you want, I could introduce you to them. We're always looking for new members as it's mutually beneficial.

For someone who has spent their whole adulthood in prison, I definitely would think twice about renting out to him. However, on the other hand he could be a felon who will pay his rent on time and not cause any trouble simply because he understands it's especially hard for him to find someplace else to live.

Post: What is the best way to finance a deal as a beginner?

Michael TalPosted
  • Developer
  • London
  • Posts 45
  • Votes 33
Originally posted by @Michael Spindler:

@Kyle Jey

One idea that stands out from J Scott’s book is to bring a investor in on a great deal you found. In return you only take 10-20% of the profits and essentially “ shadow the project from beginning to end” .... thoughts on this?

 This is something that I honestly despise. The amount of young newcomers who approach me with "this amazing deal they just got their hands on but need financing" is getting out of hand. 

Never forget that YOU are the landlord and therefore a lot of the power in your property is up to you. The property managers are working for YOU. Don't give them that much authority over your property, if you want them to start searching for tenants while the property is still being worked on, then make them do so. It's understandable that they are under the impression that prospective tenants will be put off by the fact that they can't see the finished project, however, you don't want to start the search for tenants too late and lose out on rental income for months. In this industry, you can't be a push-over, whether that involves contractors or property managers, you need to remember that every decision is ultimately up to you. I'd suggest to tell them to start holding viewings already and if they decide not to, I'm sure there are enough property managers who'd gladly replace them.

Definitely not normal, I wouldn't necessarily call the company you work for fraudulent, however they are obviously incompetent. There is no work experience worth gaining there, try find another prospect if possible. 

Post: 80% LTV for Commercial Multifamily

Michael TalPosted
  • Developer
  • London
  • Posts 45
  • Votes 33

Contact a mortgage broker, I'm sure they could arrange something for you. It also avoids the hassle of going through different financing options to find the one suitable for you.