Wednesday, November 29, 2006

Another Investment Opportunity

Abu Said only speaks Arabic, but he had a friend translate. He is a realtor who knows of several properties for sale, and he also knows people who want to buy them. One would think that he would act as go-between and pocket the 2% commission. But he's much nicer than that.

If we will just put down a 10% deposit on the properties, he will then put us in touch with the people who want to buy them, and we can sell for 10% more than our purchase price. Since we only put 10% down, that will be a 100% profit.

So why, some of us cynics ask, is Abu Said doing this?

Well, (I think the translator translated), this way he gets two commissions, one from us, and one from the second buyer. And besides, he's a friend, and he wants to help us make money.

Personally, I think, rather than a villa, I'll just take the Garhoud Bridge. The Dubai Municipality is putting up toll booths, so it should be a good source of revenue for the buyer.

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