I had been speaking to my better half about moving to the Middle East for quite some time prior to us taking a holiday in January 2023. I remember hoping she’d love it, but never thought she’d consider moving! But here we are 2 years later and making our plans with two under two and a cat.
There are no weaknesses.
One of the best and only lessons I’ve learned from Richard Branson is that having dyslexia didn’t need to be a negative thing, it just meant that I have a different super power to other people. The way I process information or view things may differ to how my readers process this, but it helped me in many ways.
It meant that although I was not as efficient in some areas, my brain processed information in a way that allowed me to simplify things and recognize patterns quickly.
People have been wanting to move away from cities such as the UK and find a better balance in life, I think Covid was the push everyone needed. My network in particular have mentioned the UAE and Qatar specifically. But this isn’t the easiest feat, and doesn’t come without risk, or everyone would be doing it.
As you know from my previous post, I love connecting with people and learning from their life experiences. One thing I have learnt about myself from seeing and speaking to people in different walks of life is that I don’t want to work to get by. I don’t want to live to work. I want to explore the world, be happy and earn money as I go along.
Why Dubai?
For us, it just made sense. We have family and friends there (built in baby sitters), its a growing economy and my wife and I absolutely love the beach.
But how disappointed would you be with me if I hadn’t crunched the numbers.
As promised, the statistics.
Properties in Dubai needed to be rented for around 15 years to pay for the property. In comparison, in the UK it would take around 30 years. This told me that the purchase prices have not yet caught up to the rental demand.
Also, having kids will always change your way of thinking. In the UK when my wife and I pass away and leave everything to our hopefully deserving children (could go either way), they’ll have to pay a lot in inheritance tax (more on this later). Essentially they’d likely have to sell the home to pay the taxes.
Lessons enforcing the decision
Alex Hormozi taught me an extremely valuable lesson in business. The lesson is “even if you sell a shitty hotdog but are positioned outside a starving crowd then you will sell out every time”, the key is to find a starving crowd. I have seen people who have little/no skills but found a “starving crowd” and went on to make a fortune.
I understood that everything had a cycle of growth and decline, and as Charlie Monger once said “it matters more the boat you are in than how hard you row”. When it comes to building wealth an emerging market is easier than a declining one.
As a result I figured I should build a base in Dubai before the demand becomes too high and the barrier to entry becomes harder. The plan was to build a base there and then go on to help people also build a base in Dubai.
Supply and Demand
Dubai’s property market is driven by strong demand rather than speculation. Here are five key reasons why:
🏙️ 1. Rapid Population Growth
📈 2. Government Population Plans
💰 3. Tax-Free Environment
🏠 4. Limited Property Supply
🌍 5. High International Visitor Impact
Just when we thought the hard part was over, Dubai had other plans. From baby blowouts mid-viewing to accidentally becoming an Estate Agent for 2 weeks— read part two below
📚 Related Reading
- How I save nearly £2,000 a Year on Groceries for a Family of 4
- How to Improve Company Cash Flow: 4 Proven Ways
- How to Reduce Taxes Legally: The UK Commercial Property Cheat Code
- Hobbies That Make Money: Real "Cheat Codes" for Turning Your Passion Into Profit
- How Environment Affects Business Success
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