You can use any number of strategies to generate sizeable profits from property, but they all share one common factor: to make the most out of the deal, you have to do your due diligence.
There’s no denying that buying real estate is exciting. Browsing online classifieds, attending property inspections, placing urgent phone calls to agents and solicitors as a deal is hammered out… It’s enough to make your heart pound just thinking about it!
Perhaps that’s why so many investors admit that once the property bug has bitten it well and truly takes hold, making it difficult to stop at just one deal.
The problem with this is that would-be landlords can get so caught up in the excitement of investing in property that they fail to dot their i’s and cross their t’s every step of the way.
Your first step is to identify the investment strategy that suits you, because each strategy has different due diligence steps. This means you may need to broaden your horizons and consider investing beyond your own backyard, which makes it even more important to conduct thorough research.
The purpose of conducting due diligence is to create a story about a property and a location, so you can evaluate all of the facts and figures before making an investment decision.
When you buy an apartment, you’re not just inheriting a property, you’re inheriting the common property and close neighbours, too. Therefore, here are a couple of extra checks when buying an apartment:
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