I have attended a seminar of one of the most famous financial authors in our generation today Mr. Robert Kiyosaki. He is an expert in real estate, stock market, business and many other ways to make money. He is well known author of the all time best selling book entitled Rich Dad poor Dad, cash flow quadrant and The real book of real estate. There are lot of people changed their mindset because of his financial literacy program.
What i learned in his program has a lot to do with building asset. Asset means, anything that would put money into your pocket. The opposite of this is called liabilities which means anything that would take money out of your pocket. He mentioned four assets which you can focus on and these are the following:
- real estate
- paper assets like stocks, bonds and mutual funds
- commodities like gold, oil and silver
As a real estate broker, what i can teach you is based on my experience selling condominiums in Baguio city for almost 6 years now. This is under real estate category. By the way, let me tell you a little about my credentials on this matter. I've been selling condominium properties through the years and it totally changed my life. From a complete jobless into earning 6 to 7 figures income a month thru condominium selling. I became the top selling broker of my company in Baguio city from 2011 up to the present.
I'd like to get direct to the point. There are 2 things that i will share to you on how you can make money thru investing in condominium units. These 2 things are what i found very effective from my experience. And these 2 things are the following:
- buying and selling during pre-selling
Rental, meaning you will have to pay the whole downpayment and rent your unit out after the building has been delivered. Make sure to rent it out as condo-tel business. Condominium as hotel business. This way you can make more money compared to long term lease. Let say you have rented out your one bedroom unit for P2500/night for 10 days. That will give you gross income of P25,000 in just 10 days. in this scenario, your unit will not be over used by tenants and you can use it personally anytime you want.
Buying and selling during pre-selling stage, make sure its still pre-selling if your purpose is to have your money earn. Pre-selling stage can give you more affordable price as compared to when the units are ready for occupancy. Usually, condominium developments can have 4 to 5 times price increase from the time they do the ground breaking till the finish of the building. In this scenario, you can make immediate money from the price increase of the property when its already ready for occupancy. The target market for this are the people looking for a place where they can immediately move-in.
I hope this advise can help you on your real estate investment. Happy investing!