Finished! You now own your first property such as damansara utama condo, but that doesn’t stop the work. You may want to entrust a property management company with the management of your property and you should also think about selling the property now. After ten years, you can sell your rented property tax-free; in the period before that, a speculation tax is due. You can read more tips and tricks on this in our guide to “Saving taxes with real estate “. Go for the condo for rent damansara utama and expect the best ownership. For more articles similar to this one, click here.
Tips for aspiring real estate investors
The entrepreneurial mindset
For many people, buying a property like a damansara utama apartment, is like fulfilling a lifelong dream. This may apply to properties you use yourself, but when viewed as a capital investment, the topic should be viewed without emotion.
On the other hand, it is better to promote the “real estate project” as an entrepreneurial business model. And as with any business, the return on investment has to be right with concrete gold: How much of the time and work you have invested will you get paid back in the future?
Assess the time required correctly
The sale of real estate is not as entertaining, such as the buying and selling a stock. Instead, the investment in houses and apartments is immobile – that is, you are usually tied to it for several years.
And industry experts know:
The profit of a property lies in purchasing. Accordingly, a lot of time must be planned for the search for suitable objects so that the bargain does not suddenly turn out to be a cost trap.
But even after the purchase, you always have to invest enough time:
- Be it billing the ancillary costs, assessing renovation measures or looking for new tenants.
- It is not so easy to correct mistakes when buying a property, so take your time. But take action. Exchange ideas with experts or visit “regulars” to exchange ideas with other investors.
Don’t fall for beautified returns
The sale of a property is often advertised with particularly high returns. “Top capital investment approx. 12% return”, you have certainly come across such tempting titles when searching for a property.