Property Investor
Is becoming a Property Investor really a wise choice if you are looking to become wealthy? Are there both make and break scenarios? If you are a Property Investor please do tell.
Obviously I cannot write from experience, but from observation and I can honestly say that this is the way to go. Were it in my power to do so, I would have convinced my parents to invest in property rather than squander it, in this way I would have a 'bargaining chip', something with which I could use to move ahead and invest. Regardless of that, if you find a property that needs some low cost renovating you can almost double your money if the area is good. Then you will have twice the money you once had and can turn around again and invest using the same principle, but the problem is most people do not want property worries and that is why few get rich and others just stay well off, but not truly rich.
International Level: International Guru / Political Participation: 3231 100%
I know a lot of people who invest in properties, and also become landlords and rent out for a profit. Either way, property investments are becoming highly sought after these days because of the type of uplift one can make in buying a property, doing some work, most times by yourself, and then selling for a profit. With the increase in mortgage rates, this may not be the ideal time for massive investment in property, but again it depends on the market you are in as well.
International Level: Envoy / Political Participation: 241 24.1%
Name: Jules
Country:
Comments: Investing in property is the way to go if you know what you are doing and have the right people around you. First do your own research into the property. Never have one person handling all your affairs because if they take you to a sink hol you'll sink with them. Property isn't cheap so you have to ensure you know the risks involved.