greenieS
Verified member
What do you want to achieve from the investment approach?
Setting the goal is an important step because it will become the main motivational engine that will guide you in your endeavor. A clearly set goal is the first step towards a profitable investment.
What are the risks of investing in real estate?
Investing in real estate can generate interesting profits over time, but it also involves a number of risks. Prices may be on a downward trend at any time, and if you purchase the property for rent, you may also have periods in which to stay free. During these periods it will not generate income, but only maintenance costs.
What is the time frame in which you want to reach your goal?
Setting a deadline for achieving the goal provides an investment perspective. A realistic deadline, so that you have time to go through all the steps required to achieve the proposed goal.
What is your financial situation?
Without capital, the investment cannot be made. If you have a larger amount that allows full cost coverage, the situation is very simple. However, if you only have the amount available in advance, you will need to apply for a home loan, which may delay your purchase. Request a simulation of the repayment schedule to see if the rates are bearable even if the property does not bring income.
How do you manage your property budget after purchase?
Purchasing is the simplest thing. To capitalize on the investment potential, it is important what you do after this first step. Do you have a plan to make your property profitable in no time? How will you cover your monthly expenses, including the bank rate?
Who do you rely on if the investment turns out to be uninspired?
If the risks are met and the investment fails, it is very likely that you will lose a significant amount of money. In these situations you need close people to encourage you, but also an expert to help you get out of the impasse.
How much do you dedicate to your plans and dreams?
An investment in real estate is usually a long-term commitment. Therefore, it is very important to have a plan to follow so that this approach is profitable.
Have you established an exit strategy?
Do you have a plan for the recovery of the invested capital, in the worst case, and, in the ideal situation, for a profit? Determine how you want to make a profit: long-term or fast, by selling at a higher price?
Setting the goal is an important step because it will become the main motivational engine that will guide you in your endeavor. A clearly set goal is the first step towards a profitable investment.
What are the risks of investing in real estate?
Investing in real estate can generate interesting profits over time, but it also involves a number of risks. Prices may be on a downward trend at any time, and if you purchase the property for rent, you may also have periods in which to stay free. During these periods it will not generate income, but only maintenance costs.
What is the time frame in which you want to reach your goal?
Setting a deadline for achieving the goal provides an investment perspective. A realistic deadline, so that you have time to go through all the steps required to achieve the proposed goal.
What is your financial situation?
Without capital, the investment cannot be made. If you have a larger amount that allows full cost coverage, the situation is very simple. However, if you only have the amount available in advance, you will need to apply for a home loan, which may delay your purchase. Request a simulation of the repayment schedule to see if the rates are bearable even if the property does not bring income.
How do you manage your property budget after purchase?
Purchasing is the simplest thing. To capitalize on the investment potential, it is important what you do after this first step. Do you have a plan to make your property profitable in no time? How will you cover your monthly expenses, including the bank rate?
Who do you rely on if the investment turns out to be uninspired?
If the risks are met and the investment fails, it is very likely that you will lose a significant amount of money. In these situations you need close people to encourage you, but also an expert to help you get out of the impasse.
How much do you dedicate to your plans and dreams?
An investment in real estate is usually a long-term commitment. Therefore, it is very important to have a plan to follow so that this approach is profitable.
Have you established an exit strategy?
Do you have a plan for the recovery of the invested capital, in the worst case, and, in the ideal situation, for a profit? Determine how you want to make a profit: long-term or fast, by selling at a higher price?
