Back in 2005 there were a lot of real estate exhibitions in Kuwait where they sell real estate abroad. The main countries where they sold lands and homes were Jordan, Oman, UAE, and Egypt. I remember we bought two lands in Ras Al Khaimah in United Arab Emirates. Each land were offered at 10,000 KD, but we were able to negotiate each land to 5,000 KD. What we got during the exhibition was a receipt from the real estate company and it wasn’t the deed, and it took us 7 years to register our names in the registry. During that time, we realized that the real price of the land was 1,500 KD only. We were ripped off all the way, but this is how 99.9% of companies operate here in Kuwait. During the same year we bought 2 houses in Egypt from the same exhibition. They showed us very nice renders of the houses and they also showed us the plan for the project. They always tell you those 2 homes are the only one left marking other ones as sold to create a sense of urgency to purchase. We bought 2 homes back in 2006 and until today the project didn’t finish construction. The real estate company in Kuwait took their big cut and they left us to fight in court with the property development company in Egypt. We literally won the case Q4 of 2018 but it didn’t mean much because we spent thousands of Dinars on lawsuits. We also bought some lands in Oman from someone we know, and the experience was even worse. We bought 4 lands at an expensive price, but when we saw the deed it didn’t have our name. We asked the person who sold us the lands, he said oh I forgot to mention that you need to pay another fee for name transfer in the registry which is about 12% of the cost of the land. We were deceived big time, but sadly things aren’t regulated here in Kuwait.
Our experience buying real estate abroad has been terrible until we met Sean Zanganeh in San Diego California where things have completely turned around. I met Sean Zanganeh back in 2012 when we were interested in buying properties in Orange County, CA. Sean is a very organized person and very detail oriented. He knew exactly what we wanted and he helped us find the best deals. We almost doubled our money in 1 year with one of the offices that we purchased through Sean. Sometimes we find deals that we think are amazing, and he always tell us if he really think if the deal is worth it or not. Back in 2014 there was a company in Kuwait selling properties in Detroit for $50K to $60K and the returns are up to 15% where you get monthly rent. My friends were going crazy about the deal so i was getting calls all the time about what I personally think. I asked Sean and he told me that it seems fishy to him. When I told my friends, some believed Sean and didn’t buy, and some didn’t because their family bought through that company and they were getting monthly income so they started to buy more properties from the same company. Suddenly few months later all the monthly income stopped and the company owners are no where to be found. It was one of the largest Ponzi schemes in Kuwait, and the owners made $200 million dollars and escaped Kuwait. All my friends should have listened to Sean from the very beginning
Any Kuwaiti who is interested in buying real estate in California. I always recommend going to Sean Zanganeh, and as soon as they meet him and work with him. He instantly becomes their favorite real estate agent, because Sean is trustworthy, honest, and fully transparent.