Waegook Tom

A Blog About A Globetrotting English Teacher

finance

Things to note when investing in an off plan project

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Over the recent past, the real estate market in Dubai has been growing at a steady rate. According to experts, the market has also been experiencing a drop in prices making it attractive to potential investors. Due to rapid development, most developers are selling their properties off-plan.

Here are some of the things you should consider before buying any off-plan property

1. Amenities around

When you are shortlisting for a property you should think about the future. Make sure the project is placed in a location with the entire necessary infrastructure. Some of the basic amenities to consider include schools, grocery stores, fitness centre, banks, etc. It is advisable to ask for the development plan to ensure all these amenities are in place.

2. The reputation of the developer

Since there are a lot of companies purporting to provide off plan properties in Dubai, it is good to conduct thorough research. The best way to verify the authenticity of the developer is by checking whether they are registered with the relevant authorities such as the Real Estate Regulatory Agency (RERA) and Dubai Land Department (DLD).

Alternatively, you can check their completed projects to see if they deliver quality. In fact, most developers have ‘show homes’ where they take interested buyers. Make sure that all the deliverables promised are included in the contract.

3. Payment method

One of the biggest advantages of buying off-plan is the payment plan. This means that you will be able to stagger the payments over the construction period.

Most developers offer a wide range of payment plans. It is important to choose a plan that suits your needs without putting pressure on your finances. Some developers allow buyers to pay a certain amount as a down payment while the balance is spread over a number of instalments.

4. Completion date and handover

The most common issue faced by most buyers when purchasing off-plan projects is the delay in the handover. To cushion buyers, real estate authorities in Dubai introduced strict regulations that must be met by the developer before putting properties on sale. For instance, the construction stage must be over 20%. Also, the developer must provide a bank guarantee for the project.

Emaar Arabian Ranches 3 is one of the biggest off-plan properties in Dubai. It comprises of villas and townhouses developed by Emaar Properties. Apart from affordable prices, the payment options offered are also very friendly. Also, these houses are placed in an ideal location guaranteeing investors a high return on investment.

Investing in Dubai? Here are the top 3 offplan projects to invest in

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The off plan market has taken Dubai’s real estate industry by storm. A lot of investors are showing interest in the market, making it grow at a rapid speed. At the same time, developers have been constantly launching new projects in Dubai in different parts of the city. One of the biggest reason people are attracted to the off plan market is flexible payment terms. If you are looking forward to investing in the off-plan market, here are the top three projects you should consider.

1. Damac Towers by Paramount Hotels and Resorts

Damac Towers by Paramount Hotels and Resorts is one of the biggest projects under construction in Dubai. This development is 270-meter-tall (886ft) with 68 storeys and consists of residential and hotel tower.

The complex is developed by Paramount Hotels & Resorts in partnership with Damac Properties. There are 1200 luxury serviced suites that will offer luxury living with a twist of Hollywood lifestyle. These suites are housed in three towers. The fourth tower comprises of Paramount Hotel and a collection of Residences.

There will be a multi-level plaza that connects the towers and is themed with restaurants and bars, events facilities, a screening room, fitness centers, swimming pool and more.

2. Emaar Beachfront

Emaar Beachfront apartments are an exclusive residential development in the new maritime epicenter of Dubai Harbor. This development will provide a unique blend of cosmopolitan living in one of the most sought after locations.

This development is developed by Emaar Properties which is one of the biggest developers in the UAE. Some of the most prominent projects include Beach Vista, Sunrise Bay, Marina Vista, and Emaar Beachfront Apartments. The whole development will comprise of 27 towers which will have an exclusive view of the beach.

3. Dubai Creek Towers

 

The Dubai Creek Tower at Dubai Creek Harbour is one of the biggest mix development projects in the Middle East region. It is dubbed as ‘The Future of Living’ and is where the city meets the beach. The development is a pioneer of integrated living that features a combination of dynamic experiences, innovation, and unique design.

One of the most prominent features of the development is the Dubai Creek Tower. This will be the tallest structure in the world at 928 meters upstaging the Burj Khalifa by 100 meters. Some of the residential projects in the development include the Creek Gate, Harbor Gate, The Cove, Emaar Beachfront apartments.

Residences and visitors are promised a peaceful life close to the sea and remarkable surroundings. It will feature world-class residences, spectacular cultural offerings, shopping and a wide range of essential amenities.

Making Money On Your Travels

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In today’s fast paced environment many people are deciding to take some time out to do travelling. While a year of travelling the world used to always be reserved for the cliche of students on a gap year, many older people are now making the time to go off exploring. While travelling the world is a wonderful thing to do, it can come at a hefty price tag. Most people are not lucky enough to have savings that they can turn to when they wish to travel but others have to try and find ways to make money while they are abroad. Luckily there are many convenient ways to make money while travelling the world.

Blogging

A lot of people still scoff at the notion of making money blogging, and although it can be hard to get off of the ground it can actually be really lucrative in the travel niche.If you set up a self hosted blog you will be able to sell advertising space and get a certain amount of money per click. You need quite a large following to do this so it is best to start your blog and get everything in place before you go. Although you do need a large following to make money from hosting advertising space on your blog this is incredibly easy to do with a travel blog as many people thinking of going to your destination will find the information useful to them.

Sell pictures online

When you are snapping pictures of beautiful places on your travels, thinking bigger than your Instagram account can actually be fairly lucrative. Websites like Shutterstock or Getty allow you to sell your photos online to be used as stock photos for websites. Although it is unlikely you will get a lot of that picture you took of your cat asleep for your snapchat, travel pictures are actually able to command big bucks. There are other websites like Fotolia that also give you the chance to sell your photos online. If you have the time you could even draw up a contract and sell them directly by showcasing them on your website. One of the main things you will need to remember if you are going to use your photography skills to sell photos online is that once you have sold them to someone else you no longer have the right to use them. Many bloggers and websites rely on stock photos so you will not be able to use the image once it is sold for your personal social media.

Online trading

The thought of online trading can sound incredibly intimidating to someone who has no previous knowledge of the stock market. It’s perfectly understandable that many people do not consider this a viable option to make extra funds but more and more people are learning the trading basics and earning extra cash for a minimal amount of work. Some online trading platform companies offer an online trading platform that allow you to trade in instruments such as forex, stocks and shares, CFD’s and mutual funds. Trading forex is especially fun while travelling as you will get to see the differences between currencies first hand. Starting an online trading account does not take long and you are able to practice with a practice mode of the website before you deposit funds and actually start investing. Online trading companies all more or less also offer a mobile app so that you do not need to be chained to your laptop while you are trying to enjoy your travels.

Can An LLC Elect S-Corporation Taxation?

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When you have established a Limited Liability Corporation or LLC, you should consider S-Corporation Taxation. You can easily set up an S-Corporation Taxation and can will quickly enjoy the benefits. Make sure to check out the short and long-term benefits before completing an application.

How to Get Your Tax ID Quicker

The LLC Tax ID Number is an important application that is used by all types of business entities. The best way to complete an LLC application is to submit your information online. If you properly complete your application, you will have an answer quickly on if you are approved.

When you are applying for an S-Corp Tax ID Number, the S-Corp will help you enjoy a traditional corporate structure. Directors and officers oversee day-to-day operations, and easy transfer of ownership if necessary. This also means that taxes there are not paid on corporate profits.

What it Means When an LLC Elects S-Corporation Taxation

State statutes authorize the LLC to provide limited liability to the corporation. Individual members report profits and losses on their tax returns, which helps the corporation avoid the penalties of double taxation. When you file as an LLC, you will enjoy more time running your business.

When you want to form an LLC taxed as an S-Corporation, you will need to complete and approve a couple of forms. When everything is set up, you will not only enjoy better benefits at tax time, but enjoy smaller start-up costs.

Electing your LLC as a S-Corporation will create more benefits for your business, particularly when it comes to tax time. You will have fewer filings at tax time, and you can avoid getting taxed twice. Check out the benefits today and you will be able to focus on running your business.