People becoming landlords in a fortnight is a myth, smart investing and a quick decision-making can land you in a better position in life
As the saying goes “ The best investment on earth is Earth”
best builders in bangalore say this too
One should invest in multiple properties to get rich. It doesn’t need a bank account full of money, it only requires a mind full of thoughts.
In this post i discussed the 5 golden ways to shift you from the status of homeowner to landlord without drilling holes into your pockets.
Do your market research
Market research can unveil many facts about property valuation location advantages, future prospects etc getting a property below market valuation now can be a productive decision in the future. Staying up to date with the local news can help you take a better decision. There might be a new airport coming in the vicinity, or might be an upcoming metro, or the property doesn’t go with the rules of law. Stay updated!! Grab the opportunity.
A study of economics usually reveals that the best time to buy anything was last year.
Buy a distressed or poor conditioned property
A Distressed property is the property which comes under a bank or financial body for non payment of mortgage/loan. These properties can be bought through the live auction, it may be profitable most of the times.Because the bank needs quick money.
Agent 1: “ I Sold my hoover”
Agent 2 : “ Why?!!”
Agent 1 :“Its just collecting dust”
Get everything re-evaluated
A time to time evaluation of your property can give you a good idea of the worth of the property, by this you can reassess of getting a loan on the property and may fetch you good rate.
Stay updated with the locality news
The locality of your property to be considered might be going into some land procurement by Govt. or it might be coming into a special economic zone there are 2 sides to a knife. Staying up to date with the locality news will land you on a golden opportunity
Prefer interest only Loans
An Interest only loan is a loan which can be taken to repay in certain period of time and asks only interest in the meantime. Taking these kind of loans can be pocket friendly on the expenses.And can be repaid once your property gets a good value.
Choose A Khatha Properties like Apartments in mysore road which has an Approved Finance Number or Code (APF) which makes it Loan ready.
As the saying goes : Give a man a gun and he will rob a bank. Give a man a bank and he will rob everyone.
All Said and done these are the smart ways that work for a real estate buying and owing multiple properties at same time, are they executable or over the top, do you have any other ideas, please share your feed back. You can go through other aspects of home buying here.