Click here to see the full article: Lamudi.com.ph
They say that one is never too young to start in property investment. Ask any seasoned investor and they would advise putting money on real estate as early as your 20s when you’re already earning in your first job. Keep in mind, the rewards of property investment aren’t reaped overnight.
When you invest in your first condo rental, for instance, you’ll get the highest returns from your initial investment in 10 to 20 years, considering the cash flow, appreciation, and equity growth. Property investments require patience and hard work. Thus, the earlier you start, the better.
With that, here’s what you need to become successful in your endeavor:
Field Knowledge
Self-doubt is one of the tough challenges young investors often face. Many are paralyzed by fear that they shun the idea of investing altogether. Fortunately, self-doubt can be easily overcome. The fix? Knowledge. When you understand the industry well, its ins and outs, including the risks and rewards, you can ease the worries away.
Start your education by researching in-demand locations for property investment. Read up on market insights and get updated on national and local news, particularly infrastructure developments. In Lamudi’s trend report titled Hotspots Unwrapped: 2020’s Most Popular Locations, fringe locations such as Las Piñas were among the most-searched. It’s a hotspot you should include in your investment options.
For your first big investment, consider the emerging residential condominium project from PHINMA Properties called METROTOWNE. Located at the heart of Las Piñas, it provides easy access to business zones, including Madrigal Business Park, Northgate Cyberzone, and South Park Corporate Center. It’s also close to schools, hospitals, and transportation options. A property investment like this will be appealing to property seekers, especially in the new normal.
Future-Oriented Mindset
Although real estate is a stable investment in times of crisis, it’s at the mercy of macroeconomic factors, including unemployment rate, foreign remittances, and many more. To succeed in real estate investments, you must have the tenacity to weather through the ups and downs, and more importantly, the ability to pick property investments that are future-proof.
Take, for example, condominium assets. These remain to be popular in the age of the pandemic not only because they are strategically located, but also because they feature recreational amenities, which relieve cabin fever during prolonged lockdowns.
In METROTOWNE, aside from the usual facilities you would see in condos, such as swimming pools, basketball courts, and gardens, you can boast to future renters or buyers that they would enjoy access to amenities that support work-life balance in the new normal. This includes the game room with mini bar, media room, coworking area, and outdoor dining space. These amenities are currently unavailable for use due to the pandemic, but their presence in the development once everything is back to normal will still be a great feature to highlight.
Inside the units, there are already provisions for internet and telephone connection, allowing future residents to connect easier with their loved ones in the era of social distancing.
Financial Discipline
Let’s say you’re already earning big on your first job. You calculate all the costs, from the downpayment to monthly amortization, and you know you’re all covered. Still, you must learn financial discipline. It will not only keep you from shopping haphazardly in the market, but also train you to better manage the returns of your investments later.
There are two disciplines you should learn as early as now. The first one is to look for the most competitive loan. In general, you want to go for those that offer low interest rates and minimal ongoing fees. But, the best loans really are those that can accommodate your unique financial capacity and needs. Consult a financial advisor to navigate through this aspect.
The second discipline you should learn is finding an investment that gives you your hard-earned money’s worth. In METROTOWNE, you can be sure that your investment is worthwhile given its location, amenities, and unit features.
The 22.92-square meter studio-type unit is priced at P3.1 to P3.3 million, while the 48.53-sqm two-bedroom is at P6.2 to P6.5 million.
It’s never too early to start investing in property. It’s, in fact, the ideal scenario for those who are looking to build their wealth, retire early, and enjoy life to the fullest. Start planning your first real estate investment now.
