there are many people putting their hard earned money investing in condominium units. Well, it's a good investment because condo is a real estate property, it will never disappear. However, most of them does not have the proper investment plan in order to make the best out of it. Below are tips that you can do to surely earn from condominium units
Buy Early, the best time to buy is during the pre-selling stage. This is the stage when the condominium building is not yet constructed. Before the ground breaking is better, usually they give promos and big discounts during this phase. From the time they released the first price list until the units are ready for occupancy, the price usually changes up to 5 times. In this case, you can have your money increase also. I bought my first condo unit in Baguio city at the price of P2.6M during the launching of the project, when its ready for occupancy the market value is already almost P3.1M. If in case i wanted to resell my property when its already ready to be occupied, i can have an income of about P500, 000 considering the fact that I just investment only the downpayment 0f 20%, this is only my cash out. By looking at this figures, i almost doubled my money in a very short period of time. By the way, the 20% downpayment can be paid instalment at zero percent interest suring the pre-selling phase until the finish of the buildings.
Rent your unit out, you may do long term lease or short term lease. It depends on your appetite. However, i would highly suggest to have your unit rented out for short term like making it a hotel business. Condominium for hotel business or condotel. This will be very good for the condo buyers wanting to stay in their unit whenever they are in Baguio city and have it rented out whenever they are out of the city. It will be their vacation home and passive income generator as well. This case the unit can generate huge income even in a very short period of time and it will not be overly used because the duration of stay of tenants will be short. As compared to long term lease, you cannot use your unit whenever you want to use it because tenants will be signing contract of lease. Usually it will take like minimum of 6 months up to 3 years.
We at Goshen land capital, inc has unified management team to manage your unit. We will be the one to look for tenants, do the marketing, manage your unit, do the collection of payments, and give your income directly to your bank account.