Tips to start, grow your real estate investments
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Loading... - Mario Mollel
- 22 Sep 2022
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Investing in real estate as a beginner does not have to be troublesome, talk to experienced real estate companies. There are key steps you need to follow when investing
Investing in property does not need to be one of the most expensive purchases that you will ever make. But the good thing is you do not need millions to own property. Here are practical was to grow your real estate portfolio.
Start with savings
Even if you are not sure where to invest, start by having savings with an end goal of owning property. You can open a savings account and put aside as low as Shs 50,000. With consistency and discipline, you will accumulate some amount that you can kick-start investing with.
Join a Sacco
You may opt to open a Sacco and deposit savings every month. At the end of the year, you earn dividends from savings and shares. One main advantage of a Sacco is that you can borrow up to three or four times what you have saved. This is an easy way of investing in property without straining.
Focus on potential in an area
With time, land appreciates in value. As an investor, you can focus on an area with potential for growth because the prices are affordable in comparison to an area that has developments.
Identify the seller
After identifying the area, you would like to invest, look out for the property developers selling properties there. You can visit their offices, attend the property site visits. Further, you can conduct a title deed search to know who the owner of the property is. It is advisable as a real estate investment beginner to invest with a real estate company as they will help you with all due diligence, documentation and subdivision of land. Read More…
