Posts tagged Property Finance

Hi Sunil,

A few quick questions:

1. In terms of getting an initial mortgage and using your system. If someone was not on a regular income; for example if they do their own freelance business and are looking to buy a property (More specifically In Dubai) – is it still possible to get a mortgage and use your system?

Would they need to show many months of bank statements? or can they just come up with a deposit and start off the normal mortgage repayments without a salary certificate?

And.. Say that they could also show a small amount of cash saved – and a good balance in the account – Would they be able to use ‘and do’ your system and achieve the same goals? Basically the minimum requirements to achieve these goals – based on somebody looking to build a property portfolio from nothing.

2. Also to use your proven methods that you mention – and taking into consideration my above questions – what is the minimum amount of cash ‘realistically’ would somebody need to have, to start on the property ladder? $50,000, $100,000 or less or more?

And in terms of cash flow – how much ‘approximately’ should someone consider paying as a monthly instalment – based on a ‘reasonable’ property – just to get on the property ladder and start a portfolio?

I appreciate that some of these questions maybe difficult to answer; however I would really appreciate your insights.

Best regards,
Hassan.

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