The Know HOW?
Inquiries: sell | buy | Invest
- Check your affordability for property loan
- Target small properties which are the easiest to rent or to sale
- Evaluate if the property rent can cover the loan installment
- Remember after 5 years, you have an asset that pays you off
- Check the realestate directory trend in terms of number of properties listed
- Check with agencies the actual prices of properties rented or sold
- Go around the city, an check the status of units and its occupation percentage
- Do the opposite of what media or brokers are stating…
- It differs from country to another especially when it involves taxes
- Globally, the agency fee wouldn’t exceed 1.5% from net value after government fees, nd taxes
- Are there any monthly or yearly expenses you should pay?
- Who is responsible of Maintenance and repairs? Is it on you or on the landlord?
- Are Modifications and upgrades of the property require permission or only government
- How to get utilities services and deeds dcuments?
- Unfortunately, most agencies are fogy in defining their complete solutions
- You need to ask aggressively and never be shy as this is you right to know
- Don’t forget, this is your money and effort, ask for detailed steps of services provided
- Complete solutions from our prospective (searching – negotiating – Do the government papers – landlord clearance – Utilities issues – bank issues -full property management scope)
- If the unit price is covering your loan + interests with extra margin of 5%, then sell
- If the price covers 5 years rent, then sell
- if the price can get you a better property, then sell
- You will buy shares (like stocks) in one development project such as: commercial offices, malls, or hotels, and sometimes properties where you will have a fixed ROI depends on the number of shares purchased
- In such investment approach, you need a lega advice to know what’s your right and responsibility
- It’s really great method to start an investment with small amount of money
Inquiries on rent
- Identify your needs or factors toc consider (locations – space – budget – services – maintenance – furniture – amenities – Quality – community )
- Identify the most important factor to consider
- Give each factor a weight or score based on its importance to you
- Search for more than three realestate portals, look over forums, get people word of mouth viewpoint on the properties
- Ensure the property you selected is not offered cheaper by other agency
- Be clear about the commission rules
- Ask more than three agents
- Ask about the rent ranges in adjacent or nearby areas
- Compare properties in terms of services provided versus rent price
- Remember, you are paying the rent, so you have the power to bargain especially if the demand is low with high supply
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