Buy existing properties with tenants
It can be either residential or commercial properties that you can buy. It is said to be risky to buy it from developers although they will sound very convincing. You would not really know what is the outcome of the project. The only way that you will have a rough idea of it is through project models. Do not completely be swayed over those because as it is stated, it is for illustration purposes only. Furnished and complete properties are much capable of creating passive income especially when there are already tenants renting the place.What Is A Good Investment Property? Click To Tweet
Location is essential to take prior notice of the property that you might be investing on. You have to look into whether there are proper access to facilities which includes financial, education and more. Personal visits are extremely encouraged as the description that is provided may not fulfill your standards.
Look out for future developments such as malls or new highways that are under development and still in the midst of planning. Due to development, the property market will get a boost in price. If the developments are complete, think twice to buy a property in that area as the market will eventually become over-saturated.
This will aid in knowing the area and getting the estimated return that you will receive. If the property is nearby a college or an university, you can approximately know what kind of rental would you charge. Moreover, you will know the type of people are living in that area.
Avoid getting conned by over-persuasive agents who are always sugar coating their words about a property. Better yet, knowing the owner would be good rather than dealing through an agent.