Where to invest in PROPERTY DEVELOPMENT???
I have £250,000 to invest and have a good track record with my bank, so i can get additional funds and use my initial £250,000 as a deposit.
I need advice on whether to invest in Residential or Commercial property in Ireland or abroad ( Most importantly which country/location is best for property development within the next year?)
Additionally should i build, purchase or renovate properties to market?
Any market research, details on the risks i face and recommendations to overcome these risks will be extremely helpful
Look forward to your responses,
Thanks for your time and help,
If you're interested in Real Estate and aren't interested in being a land lord, I highly recommend you investigate Exchange Traded Funds (ETFs). They an incredible way to get exposure to various real estate markets around the globe (both commercial and residential) and the best part is they are very liquid. You gain all the advantages of price appreciation for that market and even collection of rents via the ETF itself. The other added benefit is you will be able to invest in more than one market very easily, monitor which are doing good/bad and make adjustments to your portfolio very quick.
I'd highly recommend you don't go borrow money to speculate (gamble). Investing is a form of speculation, it just has a sexier name. Not all real estate goes up. Again, investigate ETF's they may be exactly what you're looking for. I highly discourage being a long distance land lord. If you can't easily go visit your property and check on the tenants, you're asking for trouble.
Lastly, if you don't own your house already, I recommend you buy you pay that off first. Take advantage of the low home prices to get your own home lined up. Why pay rent or a mortgage and make someone else rich...
Real estate is big term and you need to research the market first and study maximum blogs, forums latest news updates regarding the trends. I think first you need to consult with property mangers and collect maximum information about property, sale, purchase, residential, commercial, appraisal and agriculture land.
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There is an entire industry built around property development and real estate "flipping". It's just a matter of doing research, and timing. Real Estate is the easiest way to make large amounts of money in some cases.
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