Investing in property option #1: Buying and renting out
This is one of the most common ways to make money from property
You buy a property to rent out to tenants. Over the years, you hope to see a rise in the value of the property. And you can look forward to receiving a monthly rental income from your tenants.
The key to doing this successfully is buying property in areas where rental demand is high. And the property must be what tenants are looking for.
If you don’t want to manage renting out your property yourself, you can opt to use a rental agent.
Investing in property option #2: Buy-to-flip
This way of investing in property involves buying a property and selling it on at a higher price.
For example, a complex under development is in high demand. You buy one of the units and sell it on at a higher price. Or you manage to buy an undervalued property, perhaps from a seller looking for a quick sale.
This type of investing works best when property is in a bull market.
Investing in property option #3: Renovations
This route involves buying property that’s in need of work. Once you restore the property to good condition, you sell it at a profit.
This type of property investing requires a lot of time and money.
You’ll need to have the time to dedicate to doing the work yourself or employing others. And you’ll need to have a lot of cash on hand to pay for the work before you get it back when you sell.
So there you have it. Three ways to make money investing in property.
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