The last downturn of global stock market saw millions of ‘every day’ investors having their fingers badly burned. Overnight life savings were eaten away, retirement funds went into decline and economic forecast for all of us who had any money invested in stocks and shares was gloomy to say very least.
As a direct result investors in their thousands turned their backs on rollercoaster stock markets and sought alternative asset classes in which to invest their hard earned money. This has led to a global boom in real estate markets and property prices, and it has spawned a generation of budding real estate investors.
For those of you wondering whether it’s too late to venture into real estate investing or considering how best to make most significant returns from property investment, here are 5 hot tips for successful real estate investment to set you on path to potential profits!
1) Consider Investment Property Abroad
There are many relatively untapped property markets in countries around world that offer real estate investor greater return on investment in form of rental yields or short to medium term capital growth.
While major markets in USA, UK, Australia and Europe are slowing down, there are emerging property markets globally that are hungry for investment and are proving to be highly profitable.
For example, in 2007 a number of countries are already aligned for accession into European Union and as a result property markets in these countries are likely to benefit from greater numbers of visitors, more trade, increased investment into infrastructure and more stable economies. The likes of Hungary, Slovakia, Bulgaria, Croatia, Turkey and even Northern Cyprus are just a few examples of overseas destinations with emerging real estate markets that may be worthy of your consideration.
2) Make Sure Your Plans Are Profitable
This sounds ridiculously simple right? Well, you’d be surprised how few people actually make sure their plans are actually sustainable and as profitable as they hope.
Examine any real estate market that you’re about to enter by firstly comparing property values across city, state or region and making sure you know what your money will buy you. Then ensure that rental yield you intend to obtain from your property is actually realistic or that asking price you intend to set once you’ve renovated property will be offered.