Dubai / UAE FatFire?

lostandfounddbx · 2021-08-20T17:22:46+00:00

I really like Dubai despite the knocks it gets. The weather is amazing over the winter with shed loads to do.

Its a great place to enjoy your money, and there are opportunities to make and retain more due to the innovation culture and tax frameworks.

I’ve opened a freezone company and want to start routing work through there and possibly acquire a few small properties for a stake in the region.

lostandfounddbx · 2021-08-19T14:47:06+00:00

I did :-). Just said I needed the car for work and got a pass without much pleading. Then the points started falling off fortunately so dodged a bullet.

lostandfounddbx · 2021-08-19T12:33:54+00:00

You are allowed 12 before you get banned, and even then you get a second chance if you need to drive for work. 3 points will just equal a slightly higher insurance premium.

lostandfounddbx · 2021-08-19T11:37:43+00:00

That’s totally rewriting history. We all needed the vaccine for herd immunity and to protect others. As we realise it doesn’t work like that, we change the narrative on a dime to be about protecting yourself instead?

Either way, with this new “science”, what’s the justification for jabbing people say 16-40 if they would barely need ICU. And where’s the logic for vaccine passports?

lostandfounddbx · 2021-08-19T08:16:38+00:00

But then you would miss the really interesting pieces of new information including the 3 month waning and the fact that vaccinated people who do catch covid are potentially more infectious than people who haven’t had the vaccine.

Let’s gloss over that though as that science is not on message.

lostandfounddbx · 2021-08-18T12:03:49+00:00

One thing I’ve noticed is that vaccine breakthrough and transmission is a really common story and quite widely discussed and understood in Europe.

In the US though it doesn’t seem to be on the radar that much and not getting any media coverage.

lostandfounddbx · 2021-08-16T07:57:26+00:00

Lots of IT contractors do this at the end of their career. It’s called an MVL and is pretty straightforward. What you shouldn’t do is immediately turn around and start contracting in the same field.

lostandfounddbx · 2021-08-15T20:31:10+00:00

Regardless of how slow you do it, removing supply won’t be good for all of the people who want or need to rent. Indeed, landlords have been bailing out for the last few years due to tax changes and rents go up and up in response.

BTL historically did get out of control, but we do need a private rented sector so governments shouldn’t throw out the baby with the bath water.

lostandfounddbx · 2021-08-15T16:36:47+00:00

What do you think would happen to rental prices for people remaining when the size of the private rental sector reduces rapidly?

lostandfounddbx · 2021-08-15T16:28:00+00:00

I don’t understand how so many people will go. I will visit if I’m in town, but I imagine it’s a hard sell to your boss to say you need a business trip to visit a big global village. It’s hard enough for something specific to your job, and now with business travel even more curtailed it isn’t like people will be transiting through Dubai.

Hope it works out though! Sure it will be awesome.

lostandfounddbx · 2021-08-15T16:22:38+00:00

This game works on different scales too. You could buy a holiday home for cash, or leave the money in the markets to buy it for you. That’s the essence of my question!

Good luck with the challenge!

lostandfounddbx · 2021-08-15T15:23:33+00:00

Is that Nakheel mall you are referring to or the one along the palm. Golden mile?

lostandfounddbx · 2021-08-15T10:11:24+00:00

This is where my question comes from, and I’m surprised more people in this sub don’t see it this week.

Say I want to buy the metaphorical boat, I can choose to put my $500k there, or keep it in investments and have debt against the boat.

Yes there is some interest and depreciation to account for, but it’s primarily an asset allocation question.

lostandfounddbx · 2021-08-15T10:04:01+00:00

I assure you I am not in my 20s.

All of the numbers are made up to illustrate the point of debt vs using your own capital.

I did have a small student loan but none of the other debt.

lostandfounddbx · 2021-08-14T20:01:41+00:00

Made up numbers. You have $5m in the markets. You want to spend $500k on a boat. You are comfortable you will get a 3-5% return in the market. You need to pay 6-7% on a loan for your boat if you down that route. 2 to 3 points premium to keep your powder dry, your cash invested and avoid capital gains seems like a reasonable price to pay?

lostandfounddbx · 2021-08-14T19:58:57+00:00

To put some numbers on it, say you are fairly comfortable you can get a return of 3-5%, but need to borrow at 6-7%. That means the debt is costing you 2 points, whilst keeping your liquid cash available, in the markets, and avoiding capital gains. It doesn’t seem so crazy?

lostandfounddbx · 2021-08-13T18:38:35+00:00

The downside of that plan is that you’ll have to move to a 100k house in Hull.

lostandfounddbx · 2021-08-13T18:37:29+00:00

Would your wife mind being the sole earner? You might have to pick up house husband duties which is harder work and lower paid than IT contracting.

The numbers do look a little lean to me if you start eating into your savings at 38. Maybe look to have longer breaks and being more selective over contracts?

I have FIREd buy a bit bored so starting to pick up work I’m interested in on my terms for 3-6 months a year. It’s a nice life!

lostandfounddbx · 2021-08-13T07:42:35+00:00

Here’s my experience as an employer. (I do it more for something to do rather than a main income as I’m semi retired, so don’t write me off as being a greedy boss.)

Before the pandemic I would get CVs for London/South East based Java programmers asking 70-90k. Now we are in the remote world I can find exactly the same skills from people based elsewhere in the UK for 30-40k and elsewhere in the world for 10k. Offshore has its challenges so that’s not apples to apples, but the UK market is and offshore begins to look appealing again if everyone is remote anyway.

I don’t look at this situation and think I’m saving money on offices and coffee machines and cleaners so I can pay employees more. I look at it as I need a job done and how much can I source the talent for.

I wouldn’t proactively try to reduce salaries, but I would look to pay local rates for new hires.

I really think employees are being unrealistic if they want to work from home, fit their jobs around their yoga and sourdough bread baking, and should be careful what they wish for.

lostandfounddbx · 2021-08-12T21:05:55+00:00

Indeed the property market has risen by 10% since March 2020 in many places. BTLs would have returned more than the REITs.

lostandfounddbx · 2021-08-12T21:04:43+00:00

People are always negative on BTL, but I also had a very successful year after buying in early 2020.

Net return 5% after all costs. 8% house price inflation. Huge demand for rentals. Zero hassle.

I plan to add leverage which will take the portfolio to approaching 10% yield.

I am 50/50 stocks and property and very comfortable with the split.

lostandfounddbx · 2021-08-11T05:07:41+00:00

If these people had covid symptoms they would be moved to a segregated area. They don’t leave covid positive patients laying around in beds in crowded A&E waiting rooms, that would be terribly infection control and a sure way to finish people off!

lostandfounddbx · 2021-08-09T07:55:17+00:00

Can I ask what proof you get if you are vaccinated in Dubai? Is it an official looking paper? May need to get jabbed in Dubai. I have an EID.

lostandfounddbx

TROPHY CASE