With all the upheaval caused by the coronavirus pandemic, some think that now isn’t the best time to buy any type of real estate, much less an investment property or second home. But here are reasons to have a major re-think.
With lower asking prices, and structured payment plans, now is a good time to consider investing in real estate. Reduced asking price give you more buying power, and is an opportunity to negotiate amazing deals.
Holding a property with the potential for appreciation and cash flow is a huge advantage of buying an investment property. It also diversifies your investment portfolio and protects your net worth while the market goes up and down.
Given the current volatility in the stock market, investors are reassessing asset allocations in their portfolio, and considering how real estate may fit into this from an asset allocation standpoint.
More people are looking to real estate as their next investment, because of the potential for both appreciation and cash flow. It’s also a real, tangible item that can provide more control than other forms of investment. An investment property can be a valuable asset and a good way to generate passive income.
To get a clear perspective of how much rent you might be able to collect on a rental property, you could reach out to commercial real estate brokers or agents in the area and ask for rental rates for the last 10 years. That could give you a good snapshot on how market boom or flow could impact your earnings or property value.
Furthermore, it doesn’t hurt to get an umbrella insurance policy alongside your Investment. If things go south, you will want to ensure you have the right structure and insurance.
It is absolutely vital though to do your due diligence as an investor to ascertain what you can afford, and also partner with a broker/Investment firm in your market to make sure they are purchasing a profitable investment property at a favorable market value.
To get started on buying a profitable and rewarding investment property today, check out our offers on virtual.landweyinvestment.com, or call/whatsapp: +234 818 746 6666, or +234 818 655 4455.