When you acquire a new piece of property, it is generally for one of two purposes.
1) To live in it.
OR
2) To make a profit from it.
Let’s take a close look at the second goal. We all want to make a profit off our properties, but if it were that easy, we would all be millionaires right now! There are a lot of short term and long term “strategy and tactics” to think of, just like you were a general or commander. For example, the short-term tactic of “flipping” which is buying a property and then immediately selling it in one shot when the price is “hot”
However, the money from “flipping” is short-lived. After all, it is a one-shot transaction. It earns you a profit, but unless you are simply happy with having a single shot boost of cash for the time being, we believe that most people are looking for more in terms of profits,
When it comes to selling property, you need to wait for the correct time. After all, if you are at the wrong time, the only thing you will do is sell your property at a loss. That’s where Rentals come in.
If you think about it, if you are not living in your property that you bought, it is pointless to just let it lie around and collect dust. In fact, that might diminish the value since no one is maintaining it. Since houses are supposed to be lived in, why not fill them up by attracting tenants who will rent them?
Rental is a win-win situation: Instead of your property laying unused while you bide your time, they provide you with a steady stream of income. In addition, since they are living in the property, your tenants will usually help you maintain them and keep them in good condition. Now, they are usually not doing it for your sake but rather because they want to keep their living areas clean, but the results is the sake – studier and well-maintained structures make for better selling in the future.
With this in mind, we can see how much of an importance Rental is in the field of property market. Because there are always people being born and looking for places to live in, this will be a constant fact of life.
We hope this has been helpful insight into your future plans of property investment. If you’re looking to take advantage of this opportunity, at Condo New Launches we have a wide variety of information on new properties for you to pursue.
