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What To Know About Buying An Investment Property

buying an investment

Most investments are high risk but not all investments require a huge amount of money, full attention, knowledge and time. Some investments will give you a high return and passive income. One of the best pieces of advice we can give you on where to put in your money is buying an investment property.

It is highly recommendable to buy a condominium unit or a house and lot. Pre-selling units are one of the most investments with high returns. Most pre-selling units are low in down payment and low monthly fees.

buying an investment

The best part of buying an investment property is there are many ways in which you can pay for it. You can buy it in cash or through bank financing. Where they can help you to figure your loan and they will estimate payments on a monthly basis, they have different payment schemes for you to estimate affordability and not heavy on your part. In just two years of paying your debt, you can finally taste the fruit of your labour.

This will be the start of the passive income and high return of investment we mentioned earlier. Take note that most pre-selling units are sometimes soon-to-rise properties or under construction and they will be ready after one or two years. But once your unit is finally turned over by the developer, it is the right time to make your property profitable.

The first option we can advise you is to sell the property for a higher price. Always keep in mind that the price of the property will never depreciate. It will always appraise its value over time. It is the best investment that is safe in inflation and will always rise in its value. The closer the property in the city or within the city the more value it will have.

The second option you can consider is to make your property available for rent. Although this action requires you additional funds for renovation and to furnish your unit, it will give you an endless return on your investment.

Buying an investment

Mostly fully furnished units with high rental fees. Imagine having a passive income with minimal to no labour. Rental property is one of the high demands you can invest in. This is the type of investment that will help you make extra income.

The third option you can do is to fully furnish your unit and make it available for transients. Most people are looking for a transient home to stay for a couple of days. Transients are usually on a nightly basis. A guest can stay for a couple of days and they will pay you for the total of days they occupied your unit. But this option will require you some labour since you will need to clean and prepare the unit after the guests leave. You can post your unit for rent on different sites such as AIRBNB and the Facebook marketplace.

buying an investment

All of the options mentioned above will guarantee you for high return and huge income. But keep in mind that buying an investment property will depend on how will you handle it. Always ask for advice before investing. Being knowledgeable is the key to more successful investing. Learn from this quote that Will Roger shared ” Don’t wait to buy land, buy land and wait”.

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