Interested in the property investment market? Making the decision to invest is just one step of your journey… the next is finding the right property to make your property investments work.
So where do you start? To help you on your way, here are a just few quick tips to make your journey easier and fun:
o Talk to rental agents – as an agent who handles a large number of buy-to-let properties, they will know what your future tenants could be looking for, plus can provide you with an insight into how popular the area is and if it is worth pursuing.
o Read a newspaper – sewa pick up Bandung scan over the property section and you will soon get an idea of which properties are more popular than others. If a particular type of property pops up often… invests… invest… invest.
o Know your market – if for example you find an area that attracts a lot of senior citizens, then a one level rental accommodation or a property that has all its living areas on the ground floor will be more appropriate. Make their needs your top priority.
o Read real estate magazines – keep a watchful eye on what the writers focus on. If they mention one item regularly, then it is likely that there is a demand for that type pf property. For example if they keeping writing about single let apartments – in a positive way of course – then find an area that will provide you with the tenancy and fulfil this need.
o Location – a property that is situated close to area attractions and local shops/ supermarkets can equal easy accessibility for your tenants, and make the area as a whole more appealing.
o Appearance – if you plan to renovate before you rent, pick a property that is reasonably well maintained. A property that looks shabby will turn your tenants away and they will look elsewhere for a more suitable rental property. But if you opt for a property that has minimal repairs, you can potentially find your tenants straight away.
o Homeowner’s insurance- I know you’re wondering – how will this affect me? I won’t be living there? It does matter. By getting a quote and informing the agent you plan to rent your property, you can account for any special recommendations for landlords before you invest too much money into the property.
o Accountant – it’s important from the start that you verify what the realistic income your property can generate is. With the right figures you can work out the cost of possible maintenance fees compare the work to properties purchase price and see if your property is worth investing before you part with any of your money.
o Property Manager – If you’re planning to invest in numerous properties you may need to consider hiring a property manager. They can help you deal with tenants, rent and general property maintenance, whilst enabling you to explore your property investment options elsewhere.
By keeping these points in mind, researching your properties thoroughly and always being aware of your tenants needs, you can maximise your investment opportunities and receive easy long term profits – for life.