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Investing

Printed From: IslamiCity.org
Category: Religion - Islam
Forum Name: Ask Dr. Aslam
Forum Description: You can ask questions related to Islam to Dr. Aslam Abdullah.
URL: https://www.islamicity.org/forum/forum_posts.asp?TID=45375
Printed Date: 16 September 2024 at 12:52pm
Software Version: Web Wiz Forums 12.03 - http://www.webwizforums.com


Topic: Investing
Posted By: gbameled12
Subject: Investing
Date 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




Replies:
Posted By: MarleneHensley
Date Posted: 21 August 2022 at 8:50am
Educate yourself, people. The more knowledge you acquire, the more success you'll have in life.


Posted By: LouisShaman
Date Posted: 20 September 2022 at 7:00am
Hard to say


Posted By: MalisDn
Date Posted: 20 September 2022 at 7:24am
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 http://https://investorjunkie.com/" rel="nofollow - 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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