You have to have money to make money. It is a saying that rings truth to it in so many ways but now days you don’t have to be a property mogul to invest your money wisely and begin to earn money by putting your own to work. To attain a loan for investment, you are usually required to be in a property of your own for a minimum of two years, this is because most banks want evidence of loyal payment. A good credit history is essential. Many investment companies will say otherwise, but if you want to take investing seriously and want the cheapest rates you can get, then you need to be wise from day one about how you use your money. One smudge on an almost perfect history can add a per cent to your interest, and while it may not seem like a big difference, it is.
Though the market is an easy one to get into, it’s not easy to excel in. You need to be at the top of your game, focused, creative and good with numbers; after all, you want to eventually build a great repertoire, and the more houses you own, the more money you have. Rentals are the best place to start for first time investors; this is where you learn the baby steps. A government funded low-income property is where you should begin. The rise in low-income earners, means there is a growing demand for houses to be built, affordable to those who need it. Because this is based on a government scheme, you are very well looked after when it comes to a return. Just because you are leasing to a lower income doesn’t mean you will be missing out on profits, plus you can guarantee there will always be someone to fill the Bangkok property rental should your tenants ever move out. While some might opt for a reverse mortgage as part of their mortgage strategy, I would always say that the best way to get wealth creation is by going into the property market.
It is a market that can inflate and deflate however and its not always a sure fire way to get rich. The economy crash in Europe and America saw a plenty of investors loose money in the housing market as people were less enthusiastic about buying, that being said, the market for rentals went up as more people had to rely on those as they weren’t able to afford a house of their own. If you are considering joining the millions already in the property investment market, then I have only three words for you: research, research, and research.