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gbameled12 ![]() Starter. ![]() Male Muslim Joined: 09 December 2021 Location: Greensboro,NC Status: Offline Points: 2 |
![]() ![]() ![]() ![]() ![]() Posted: 09 December 2021 at 8:45am |
Asalam Alaykoum My question is or if you can point me in the right direction
to someone that can help me to know if Apartment Syndication is halal or haram. For example, I would be a General Partner in a deal it could
be 3-5 of us and we will have Limited partner/accredited investors that will
put either all the down payment money and renovations costs and we as General
Partners put a small percent since we will be managing the asset. Generally, we put some money down depending on if you find
the deal. But investors will get preferred return and we usually split profits
and cashflow 70%/30%. So, we will for example buy a 25million apartment building
raise the money for the down payment and renovation cost and value add
opportunities and grow the asset and sell in 5-7 years and give investors their
money back plus 15-20% return depending on how good we manage and how well the
asset performs. I am wondering if it is halal this kind of transaction
obviously if I do regular financing with banks, it will be riba but if I were
to get a loan from IJARA CDC, MyUIF, and other Islamic financings I am
wondering if that transaction will be halal. Thank you for the help |
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MarleneHensley ![]() Starter. ![]() ![]() catolik Joined: 21 August 2022 Location: USA Status: Offline Points: 3 |
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Educate yourself, people. The more knowledge you acquire, the more success you'll have in life.
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LouisShaman ![]() Starter. ![]() ![]() Male Islam Joined: 20 September 2022 Location: Saint Louis Status: Offline Points: 1 |
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Hard to say
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MalisDn ![]() Starter. ![]() ![]() Male best Joined: 03 May 2021 Location: chocago Status: Offline Points: 5 |
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I think using Muslim banks for financial operations is not a problem. Moreover, there must be special advisors who could help you with that. I didn’t have just the same situation, but I have experience of having depth for the house too. And I talked to my family members and friends; nobody said I was doing something wrong. So I hope that I never did. There’re also many good investing plans, which I’m sure are halal. I found them on investorjunkie.com, and some f them seem profitable to me.
I thought this link might be helpful for you too. However, it has nothing about the Islam aspect, that’s why you need some consideration or talking to a Muslim advisor first |
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