Investment in Property or Real Estate Would Continue to Attract Peopleby Mark Tencaten Mark Tencaten - Co-Founder and owner at NGS Group
Investment is property or real estate has always been a lucrative proposition for investors, thanks to the people who have earned a fortune in this industry. However, the concern is there are only handfuls that have made money in property or real estate business, thanks to some inherent business traits plus the virtue of patience that made it possible.
Still, it doesn’t bother those thousands of real estate aspirants who jump to the bandwagon to become millionaire overnight. Many may wonder why these people are ready to go to any extent to investment in property or real estate but they have their reasons; some of which are discussed right here:
Getting Rich in No Time
There is this strange air about investment in property or real estate that it offers opportunity to get rich in quick time. However, what they don’t know is investment in property is not a child play. Earning in property dealing requires immense expertise, hardwork, capital and of course patience. Therefore, it is important you meet an expert if you are planning or is a beginner in real estate sector. You can also consider taking services of Mark Tencaten who’s in the business for years and has helped many in property investment.
Residential Properties is Profitable Round the Year
Unlike what most new investors believe, COVID-19 has taught us all that even investing in residential properties can’t help you make quick money, at least if you are looking for quick money. Real Estate expert Mark Tencaten suggests that Investment in residential properties is good only if you are patient enough to wait for a longer period.
Remember, residential properties can produce rental income throughout the year but after adjusting associated legal fees and other unexpected costs. So make sure, you count your kittens after the eggs hatch, not before.
Scope is Endless but Caution is Warranted
Unlike stock market where chance of making money is completely dependent on the factors that are outside of your control (all you can do is to hold or sell), investment in property or real estate offers a myriad of options.
You can first purchase a residential property with the intent of flipping it. However, you can also choose to rent it if the market goes down. Conversely, you can buy a rental and if it appreciates significantly, you have the option to sell it. Mark Tencaten says, “Investment in property offers you the flexibility of refinance, rehab, and rezone, with opportunities ranging from leasing, developing, or subdividing it. However, the trick is there is a right time for everything.
These are just a few of your options. This flexibility is one of the reasons it has created more millionaires than any other investment opportunities.
After All People Can’t Do Without a Place to Live
Be it a developing or a developed nation, one thing that’s permanent is the migration to cities, which means people migrating to cities in search of better jobs would need a place to live. As stated by Mark Tencaten, real estate would continue to offer consistent returns in the shape of residential properties. But, it is important to identify the location where these residential properties are located. If they are in the vicinity of employment generating destinations, they would attract more and higher rent payers.
The pandemic may have dampened the spirits of those investing in real estate but the prospects of earning are still there. Just be patient, as Mark Tencaten advises, and you won’t be disappointed.
Created on May 7th 2021 22:45. Viewed 63 times.