Ways to Make Money by investing in Real EstateMake Money Kenya
Home | Investing | ( 1 ) | Subscribe Posted by Felix Okoli on Saturday March 22, 2014 at 9:15:41:
Real estate is where the big money is and it's also where you can keep making money over and over again but it does require some good start up capital at first.Many people will invest in real estate because it is a fairly stable and secure form of investment. The value of real estate property will not fluctuate as much as the stock market which makes it a sensible investment. There are a few things that you can do to improve your chances of making a profit from real estate investments. This article will look at a few of these techniques.Adding Value
One way of making money from real estate investments is to add money to the property. This can be done in a few ways including renovating, extending and adding extra features. This will instantly make the property more valuable and more desirable which should make it easier to sell on.Renovating
One good way of buying real estate to make money is by buying it in poor condition. As long as the building is structurally sound you can buy one with poor decor and renovate it yourself. This will quickly and easily add value. You will also find that once a property has been renovated it will be much easier to sell.You can buy properties in poor condition by visiting real estate agents, or by attending a property auction. Beware though if you buy a house with structural defects it might be very cheap, but could cost a lot to put right.Extending
Another way of making money from real estate is to extend the property. If it is possible to add an extra bedroom or make the lounge bigger then this could add value to the building.Keeping the Property
Property almost always increases in value over time. This means that it should be possible to buy a property, rent it out and still make a profit when you come to sell it. By renting the property out you can cover the mortgage required to buy the house, or at least get a bit of income from it. If you do go down this route then you will need to maintain the property regularly.