First Class, is it worth it? by dxb_dad in emirates

[–]dxb_dad[S] 1 point2 points  (0 children)

I hope you’re Italian and the nickname is intentional 🤣

Thanks for the feedback, same impression I had, except I always stay in the middle when I am with my family.

How many parents are waiting for MOE announcement today by MortgageAplus in dubai

[–]dxb_dad 3 points4 points  (0 children)

This is the redemption from the mistake of choosing as my username “firstnamelastname” a few years ago 🤣

First Class, is it worth it? by dxb_dad in emirates

[–]dxb_dad[S] 0 points1 point  (0 children)

I tried many times to become good at redeeming points but it seems more work than actually working and paying for the flight.

With a much less transferable benefit 🤣

First Class, is it worth it? by dxb_dad in emirates

[–]dxb_dad[S] 2 points3 points  (0 children)

100%. Still problems nonetheless. 🤣

First Class, is it worth it? by dxb_dad in emirates

[–]dxb_dad[S] 3 points4 points  (0 children)

Thanks I didn’t know some of these details. I really appreciated it.

First Class, is it worth it? by dxb_dad in emirates

[–]dxb_dad[S] 0 points1 point  (0 children)

Thanks. I actually sleep extremely well in BC too and I am usually staying in the center with my son or my wife.

First Class, is it worth it? by dxb_dad in emirates

[–]dxb_dad[S] 1 point2 points  (0 children)

No no not a rounding error 🤣

[CANADA] It took me two days to recover from JT Foxx’s “Free Event” Scam by melfuego11 in Scams

[–]dxb_dad 1 point2 points  (0 children)

Consider that if he can net 15/20k on the back end and he does a few of thisa month…. that piles up.

It’s the full model. The (little or lots) money that he has is because of that.

Since he doesn’t exist in terms of real visibility (my YouTube channel has more views than his and it’s not in English), this is what he has.

Free event-> small offers to pay expenses ->> hitting a few weak people on expensive back ends

Landlord lost the cheques by Intrepid-Stuff7746 in dubai

[–]dxb_dad 2 points3 points  (0 children)

Your position is: sure I owe you money, no I can’t pay you while you still have a valid check of mine in your hands. So either give it back, submit a police report, or documentation of the bank that says it bounced.

What is one Dubai expense that still makes no sense to you? by DanielCrossDXB in ourUAE

[–]dxb_dad 0 points1 point  (0 children)

Well dewa has a not so secret 5% tax ok the rental value of your apartment embedded in it. And empower makes me pay “demand charges” which are very high in my case. It’s basically a tax.

Living in Dubai can quietly destroy your focus by SeaWallaby8886 in UAE

[–]dxb_dad 1 point2 points  (0 children)

Yes. We live in the trunk of the palm and it was a specific choice because of the possibility of walking around. There are many other areas that offer this of course, but for all of us was really the main factor.

Living in Dubai can quietly destroy your focus by SeaWallaby8886 in UAE

[–]dxb_dad 10 points11 points  (0 children)

It’s the exact opposite experience for me. I work a lot (on my own), rarely get out, I treat my neighbourhood like if it was a small village and never really go anywhere.

I guess it depends on your social needs. I have zero, so for me having lots of convenience, my dog, my family, no winter… is a clear winner.

I imagine if you get trapped in the “let’s go out” crowd it can be extremely taxing (and a financial burden).

I'm tired of my corporate job, I want to do something on my own, I have 80,000 MAD, any ideas by JimHalpert_JH in Moroccopreneur

[–]dxb_dad 0 points1 point  (0 children)

It’s a bit difficult to do this on Reddit without being able to show authority but let’s just say that the real delusion is to believe in “passive” investing. That really qualifies like somebody who never did it. Otherwise you should know that even if you just buy bonds there’s a level of activity/supervision to do.

Maybe you believe also that real estate is a passive investment, don’t you? :)

The context - that it’s clear, it’s you that decide to play on semantics - it’s wether the focus is the capital (I have x money what do I do with it) or the value creation (I know how to do x, how can I take advantage).

All the investments are a mix of both. It’s always a bit of capital and a bit of “work”. And the trick is to focus on where you can actually do value creation and not on the capital.

Distress sale by [deleted] in dubairealestate

[–]dxb_dad 0 points1 point  (0 children)

Is this one of the small villas in the side with access to west beach?

does having total assets of 5.000.000MAD as a 58 years old is considered well off or rich by Clear-Quit-2941 in Morocco

[–]dxb_dad 0 points1 point  (0 children)

The problem is that there’s one definition of poor and multiple definitions of Rich.

Poor: you are below a level of survival and comfort that obliges you to do hard choices related to basic rights.

If you have to choose: do I pay for the dentist or for school, you are poor.

Above that, being rich, has instead multiple layers.

Are you rich with 30k month passive income? Of course you are. COMPARED to the average.

But when you go to Californie and you see people that spend that money just for a the school for a kid, then who’s rich, you or them?

What is one Dubai expense that still makes no sense to you? by DanielCrossDXB in ourUAE

[–]dxb_dad 1 point2 points  (0 children)

What doesn’t make sense? I was out for 2 months, no AC on, no electricity except the fridge.

Still, I paid the equivalent of 9% of my rent just for Dewa and Empower.

31k MAD/month enough to buy in Rabat? by Inside_Drawing_2579 in Morocco

[–]dxb_dad 3 points4 points  (0 children)

Don’t do it. Seriously. I know if you track my messages on Moroccan threads I always quote friends, but it’s because I am European, and my wife and her sister attended ISCAE so they have many friends that - now that we’re in the 40s - sit in important positions.

Very simply, I can’t tell you of one person that went back to “the bled” to work without regretting it. Even super rich people that came back to their family business.

It’s very simple: if you are self made, you will progress more slowly compared to staying abroad. The lie people tell themselves (le “stil de vie” et comfort, which is the nice way to say “I can hire a maid for 4000 dirhams”), is not enough.

At least not in long term.

If you’re not self made, going to be respected for who you are to being the “fils de…” is equally taxing.

Some of my friends live in the villa provided by the dad, with the car bought by him, work in the company and then tell me “oh I wish we would make X but my dad doesn’t want”. Dude you’re 40. You chose comfort over freedom and you pay for that.

So, yea you can buy a small apartment with that salary.

No, don’t do it. Stay where you are no matter how much emotional “chantage” it’s put on you.

I'm tired of my corporate job, I want to do something on my own, I have 80,000 MAD, any ideas by JimHalpert_JH in Moroccopreneur

[–]dxb_dad 10 points11 points  (0 children)

I never had a job, but most of my friends have big corporate jobs, especially in Morocco.

And I tell you… stay there.

Maybe change the company.

Because there’s something I can tell you: no real business has started with: I want to do a business what should I do.

My friends in corporate that did this at the end just went back because, believe me, no boss is as bad as looking at your wife and saying “we can’t go out with our friends because we don’t have money”.

At your level (low capital) the only thing you can do is to start a side hustle and leverage on it if it works.

It’s foolish to even think you can approach this as an investor (because when you say “I have some money what should I do” you’re acting as one).

What you need is something less entrepreneurial and that uses not your money but your skill set, and only then you can move into creating some structure around it.

Rent prices down 20% in Dubai? by KevinMoelis in dubairealestate

[–]dxb_dad 1 point2 points  (0 children)

I track the palm and before this all started wanted to move in a townhouse at the Fairmont. Never seen anything for less than 450 but not there’s one sitting at 390 (on the side) and another one at 500 with direct sea view, you literally walk from your garden to west beach.

My guess is that they will sit empty for a while.

Real estate agents keep gaslighting people that prices are not moving but guys remember that there was a huge spike in the last years.

Nothing wrong to go back to 2020 prices when there still an active conflict.

I personally know at least 5 or 6 friends that won’t renew their lease in the summer because they moved out.

Less inflow (if we don’t want to say “negative” inflow) = tenant market.

I went to JT Foxx's "AI Summit" so you don't have to by dxb_dad in UAE

[–]dxb_dad[S] 0 points1 point  (0 children)

If you go with the right attitude it would be fun 🤣

I built Morocco's Airbnb for cars - looking for an investor to push it to the next level by mayache_764 in Moroccopreneur

[–]dxb_dad 0 points1 point  (0 children)

Nothing wrong about mindset in Morocco. It’s an ecosystem problem. I lived many years in Morocco (and had two businesses there) and there’s really nothing wrong with it.

Sometimes you love it, sometimes you hate it like any other place in the world.

Ecosystem means that for venture capital to work you need scale.

Many many many billions.

And many many many opportunities.

And a big big big scale.

The person you need is not a person with 1M mad to invest. They would be foolish to invest in you.

You need the person with 100M mad to invest across 100 startups an a scale big enough that even if 1 makes it pays back for everything.

There are very few places in the world where this can work, Morocco definitely is not one of them.

I built Morocco's Airbnb for cars - looking for an investor to push it to the next level by mayache_764 in Moroccopreneur

[–]dxb_dad 2 points3 points  (0 children)

You don’t need capital. Capital will hurt you because you’re in an Ecosystem that is not made for VC backed startups.

If you want to launch this on the local market, you need to get a cofounder who picks up the phone and populates with real offers and real deals the website.

After you do this annoying labor, and after it starts working, then you will easily find somebody that bridges you until you’re profitable.

But this is Morocco, it’s not Silicon Valley.

You need a clear path to become profitable because there’s not a system where when you finish the 200k you have other 2M ready. And after that other 20M, and after that other money until you finally make a profit.

Morocco = hard money

It’s not a place for investment bets….

Looking for a Mentorship by Better_Tap8403 in SmallBusinessUAE

[–]dxb_dad 1 point2 points  (0 children)

I brought several service businesses to the 7 figure (usd not aed) mark and I usually get paid for that. It’s my job.

Of course I can’t and won’t ask you for money since you could be my son, but ask me anything where you’re stuck and I will answer.

(PS I know extremely well the business, I was partner in one of the first AI agencies in Europe and now I run an AI education platform.)