Error In Pre-Purchase Stage
Choosing a property for investment is a breeze. Sometimes, many stages are ignored by investors. Kadung buys, instead of getting a profit instead of a stump. Location, indeed a key factor in the consideration of choosing a property for investment. But, not always the location factor also plays a dominant role. There are at least 3 stages of error in property investment ie pre-purchase, purchase and post purchase. For those of you who are interested in investing, you can visit Kevin Hodges Real Estate. Do it now and be successful!
In order not to choose the wrong property, here are the mistakes in the pre-purchase stage that you should avoid.
Pre-purchase or before purchase plays a vital role. This is where the beginning of the property journey begins. The error in pre-purchase is not a price survey. Sometimes, investors, especially beginners, just buy a property without investigating the price. Is it cheap or expensive? This investor does not compare prices between properties with other properties. The result is certainly fatal. If investors buy with prices that are already over-priced, it would be difficult to resell it. In the concept of investment, buy as cheaply as possible and sell as expensive as possible.
Second, choose an inappropriate location. We certainly know the term sunrise and sunset property. Well, the sunset areas of the property (undeveloped area) are what the investor chooses. In the middle of town for example. There is also a location error so the property is hard to sell. There are buy in areas prone to brawl, flood. Could also, the area purchased the property was slum and dirty. This is certainly a fatal error.
Third, buy when peak. The peak period is where to buy property when the property is booming. Here, of course, the price is already very very expensive so it can be said an investor is late. Underarms buy in boom times, investors should be competing to sell, instead of buying. Because if you already buy, the investor was hard to sell because the price is too expensive.