KNOW WHICH RESIDENTIAL AND COMMERCIAL PROPERTY FOR SALE ARE BAD INVESTMENTS AND SHOULD BE AVOIDED8 Sep 2019
Many young professionals today are looking for different ways to save and make their money grow. And one route they are trying is by investing in residential and commercial property for sale. But with the little knowledge and lack of experience that they have about the real estate industry, they are bound to make mistakes. Then, instead of gaining something, they actually lose out and their hard-earned money may go down the drain.
So, before venturing into the real estate world and property investments, it is important to do your research and team up with the best in the industry. You can ask professional advice from the experts at the real estate arm of Noor Bank, Zawaya Property, and learn more about the dos and don’ts of property investing before putting your money in it.
Avoiding Bad Property Investments
It is not surprising that you will make mistakes when choosing a property to invest in, especially when you are a first time investor. However, there are some ways to avoid such mistakes.
By doing your research on houses for rent or sale that you have your eye on, as well as asking around about those properties, you can save yourself and your money from a bad deal. You can also get an experienced partner to help you out with your real estate investments.
But, more importantly, you have to be aware of the warning signs that tell if a residential or commercial property is a bad apple. Then, you can avoid it and go for other, more suitable buildings.
· Signs of a Bad Property Investment
1. The price of the property does not change, even if it has been on the market for a while
2. The seller can’t provide real numbers regarding the property’s rentals, vacancy rates, profits and more
3. The surrounding environment shows no signs of growth or improvement
4. Maintaining the property or renovating it will cost too much and may not be worth it in the end
When you see one or more of these signs in a property you are interested in, you can try and ask for an explanation of what you don’t understand directly from the property manager or the owner. This way, you can clear things up and still find reasons to invest in the property, especially if you are really interested in it.
However, the best option would be to move forward and find better property investments that will surely bring a positive return on investment. And Zawaya Property, Your Property Optimiser, will definitely help you achieve it, whether it is your first investment or you are a seasoned investor.