EK Pilots 30% return?

[hulabaloome2]

Hi Gents,
I picked up a leaflet that had been placed in my pigeon hole regarding investment into a project called Hampstead and Mayfair here in Dubai it reads 30% return on minimum investment of Dhs 250,000/- in six months.
Has anyone got any thoughts or further info before I contact the named person?

regards

[Dirigible]

I seem to remember a few months back many investing in high risk forex trading with a company based in Caribbean, promising huge monthly returns. I think it turned out to be a Ponzi scheme, I'm not sure if anyone got badly burned, but if it is too good to be true, then invariably the best advice is to leave well alone. Moves afoot too by regulators in Dubai to curtail real estate speculation and flipping of properties, so the days of making a quick buck may be numbered. (Of course if I were always right then I would be out of the pit, not toiling for an honest wage.....)

[Payscale]

Well. It did say the capital plus 30% return on a postdated cheque and security in the land (or is it sand ;)) , so no flipping involved. Directly with the developer. I am in.

[woodja51]

The concept is sound - the idea is to basically finance the land for the developer to then go ahead and market apartments and stuff.

The only issues are the cost structure - they are using 1400 - 1600 dhs /sqft as a selling price and at the moment the average sales price of JVS where the land is works out to be about 1000 /sqft at current levels. So unless they can get some financing options ie 10% down rest thru banks then I have a bit of a problem seeing how this will actually work in 6 months.

I have confidence that LS who is running with it is a clever chap.

Have thought about it but the world is a little risky at the moment so keeping the powder dry just in case.

As far as the pst dated cheques go - make sure that if you invest that you get copies of the directors/signatories passports to go with you cheques. That way any glitches can result in non- jail motivators to ensure success.

There are clauses in the contract about them letting you know a month before the PD date as to the situation. This implies that if the project is not on track you will have to hold off banking the cheques...

i could be wrong but that is how I read the situation..

Would be in but just not that brave at the moment - another EPI opportunity coming soon so maybe hold out for that...?:ok: ( and am not an EPI guy!)

[Metro man]

Years ago "opportunities' like these were targeted at miners in boom towns. Financially unsophisticated men suddenly flush with money. If it sounds too good to be true...............

Run it past a good accountant.

[kingpost]

Guys

Be careful. When something is to good to be true it normally is. Ask yourself the question, what expertise does this investment company have? You'll probably find that it's your colleagues investing in a scheme that's costing them an arm and a leg and they have no investment qualifications whatsoever. If it doesn't flip you might find yourself in for more than 250k.

Why do pilots fall for schemes like these?

[wrightbrother]

Sent them an email regarding more company info, projects and why the new target group.What I got back absolutely nothing.When its too good to be true it usually is cheers!

[emiratesf hucker]

The other lot that were good at this sort of thing were the ancient Egyptians. For :mad:s sake, get a grip.

[Flying Spag Monster]

If its such a good deal then why can't H and M finance it themselves and keep the 30% ??.

[Sand dune Sam]

flying spag monster here here....woodja, if it looks too good to be true, i'd say tis!!

[Payscale]

Yep! If it too good to be true it must be. My granddad also said dont swear on a Sunday and drink beer on a wednesday.

I must be a sucker for these deals. I invested in F1 too. That has turned sour.
But the difference there is that the company is totally untransparent. Cant even track their website. At least here we know where to send the bulgarian Goons :ouch:

With H&M there is a building, a postdated cheque and a legal contract handing over ownership of the plot in case of default. I actually have read the deal.

Only time will tell......

[STD]

Little bit fishy that the email is @mailme.ae and not something more convincing like @hampsteadmayfair.com .. bin it!!!

[wingslow]

What is the go with EPI?
They have quoted 17% to 45% p/a returns but I have heard this is not true with the projects quoted on their website? :(

[Payscale]

You can get filthy rich on real estate on real estate in UAE these days... it all a question of funding and risk management. If you can find a good balance that suits your temperament.
I have yet to meet someone that lost big money. Some project dont leave the ground others are delayed for years. Pull out. Reinvest and learn! So 30% over 6 months is OK for the risk involved. If you want to make more look at Ajman UAQ and RAK. I believe they will take off after Ramadan and onwards :8

[Von Richtofen]

I zee many people will get zcrewed very badly!!
Do you read the news paper or not?
The top management of many real eztate developer in jail!
Read any news on any financial magazine in the world about Dubai..and it is bad news.
Lucky those that made money out of it...right time right place..
But it is finished..wake up..or you'll find your self in underwear!!
Wunderbaar!!