3 TIPS TO CONSIDER WHEN INVESTING IN PROPERTY
Everyone everywhere is always looking for the best place to invest their money. So why not real estate? There are houses everywhere and people will always need somewhere to live either by themselves or with their family.
So if you’re interested in investing but have no clue where to start this post is just for you. Right now I’m not going to tell you
exactly what to do with your money, what I will do is give you 3 fundamental tips when it comes to investing in property.
1. KNOWLEDGE is everything!
So you say you want to invest in real estate, but what do you really know about it.
What kind of real estate would you like to put your money in, land, houses for sale, houses for rent, maybe even commercial property? Which locations are hot right now? Which areas have a high potential for increase in population? This is just but the tip of the ice berg of what you need to know.
Information is available all around you. From friends, family, books, plenty of websites and talking to real estate professionals like agents.
So make sure before you invest in real estate that you have all this knowledge at your fingertips and constantly leave room for more information.
2. What are you waiting for? Take ACTION.
This really shouldn’t be said, but we all need to hear it; you aren’t investing until you actually decide to literally go out there and do it. Coming up with excuses why not is extremely easy. So you’ll need to give yourself that extra push.
Some might say it’s too risky to invest in property, but what investment isn’t risky? By this point you know what you need to know about where your money is going including the possible risks that come with it. Therefore if after all that you know you still want to get in to real estate, don’t wait.
Just go for it.
3. You need SUPPORT.
Investing is no small thing. You need to find that person or people you can always bounce ideas off, get advice from or encourage you.
These people are also responsible for keeping you accountable to your investment goals.
There are various online forums one can join that provide good advice and support to beginners and long-time members in the real estate world.
Now you have an idea of what you need to start investing in real estate. So go ahead and start.
Source: BuyRent Kenya