Want to build your wealth? Invest in real estate, the most common answer you will receive. And it’s true. Even property valuer Sydney says - an ideal way to generate passive income is via real estate. But the wise and right kind of investment is essential while putting your large sum of money in real estate. Hire property valuations Sydney and get the right advice which makes your real estate investment journey enjoyable.
Here we have mentioned some ways through which you can invest in properties to earn more -
1. Choose simple way, buy a single family home - Buying a single family home is easier you can afford it easily and it is damn easy to take care of a single tenant. The rent you receive will be used to maintain the property and to pay monthly loan repayments.
2. Multi-family rental units - Being an investor you can buy duplex or triplex home where you can have two-three tenants which generates good rental income. The earned rental income can be used to maintain the property and by the time, if the property value increases the entire building can be sold out. Thus you can get profits and invest your money in the next venture.
Note - Well, giving your property to tenants, resolving tenants issues, collecting rents from them timely and maintaining the property is a big task. One can hire a property manager to manage all these tasks from your end. As a naive investor, it is quite tough to manage it all alone.
3. Passive investor - The concept we have explained in the above note is a passive investor. For instance, you are a banker and you can’t give time in looking after the tenants and their complaints so better to hire a property manager. In such condition, the valuer will play the role of an owner and manages all the issues, complaints and task associated with the property. Thus investor can do their original job and works as a passive investor.
4. Buy undervalued property or foreclosure property - Buy a deteriorated property or the undervalued property and renovate it, remodel it with the aim to generate more money by selling it a higher price is the smartest way of investing money in real estate. Even for buying foreclosure properties (which banks want to sold out fast just to recover the loan amount) are the best way. You can buy and revamp those properties in order to sell it at a higher price than the purchase price. It is also known as ‘house flipping’.
5. Appreciation of property - Real estate investors can buy and hold the properties with the aim to increase the property price with time. This can be done to generate good profits. Well, increase in property value may take time. Passion is a must when an investor chooses to have this way of investment in real estates.
Well, Property Valuer Sydney gives the right advice to investor. Hire Sydney valuer for error-free valuation services.