Property Investment Tips From The Pros
At Strathmore, our team of property brokers know how lucrative property investments in Durban can be. Whether you are interested in an industrial, commercial or retail development property, there’s always a chance that you could be taking a risk when it comes to investing your money. It is for this reason that we have rounded up some tips to make sure that you invest in the right property:
Do your research
Whether you are a veteran property investor or new to the market, it’s vital that you do your research. All too often, people sign on the dotted line without investing in key market research, growth forecasts, tenant opportunities or some of the other long list of research data that is crucial to making a good decision.
Get your finances in order
Ensuring that your finances are in order extends far beyond mortgage approvals and ensuring a good bond rate from the bank. When you are investing in property, you need clear goals regarding what you expect to earn from your property over any given period of time. The most successful investors are skilled at finding out where their rental income will come from and what their exit strategy will be when the time comes.
Narrow your scope
Not only should you know exactly what type of property you want to invest in, but you should also know which areas you are interested in. In KwaZulu-Natal, for example, certain areas are ideal for retail development investments while others would be better suited for warehouse lease agreements. Your best bet is to hire a qualified property broker who specialises in their the area to help you navigate all of the relevant issues relating to your purchase.
Please contact us for more information about how our team of property brokers can help you with your property investments.