How to Double Your Money Investing in Real Estate in Africa
Due to Africa’s high population and the demand for accommodation, the Real estate business is becoming profitable on the continent. Most investors are already making millions by increasing the prices of property or rent in many cities across Africa. This makes the real estate business a great way to double their money because there are various options to invest in based on the capital you have.
If you are looking forward to doubling your money while investing in real estate, here are some tips to follow.
1 . INVEST IN REAL ESTATE INVESTMENT TRUST(REIT):
Investing in real estate is the easiest way an investor can earn some income without owning physical property. REIT gives investors different opportunities such as regaining liquidity quickly, receiving a good dividend, and many more. There are many different REITs to trade in publicly and it cuts across a range of commercial and residential real estate asset classes.
2 . SELLING PROPERTIES AT A WHOLESALE
Selling property wholesale is a great investment strategy. This is a way by which negotiate with owners of off-market property to sell their property to you at a discount. After buying the property, you sell it wholesale to a third-party buyer at a higher price, thereby earning a fee from the difference.
3 . REHAB PROPERTIES
In real estate, you do not need to do much to make the value of a property increase. You can buy a property that needs to be renovated at a discount and then improve upon it. By doing so, you can double the price because the value of the property has increased.
Although renovating a house doesn’t come easy as many make it seem, however, if you know what you are doing it can be worth the effort, money, and time to invest in real estate.
4 . BUY LONG-TERM RESIDENTIAL RENTALS
Renting properties is one of the most lucrative ways of making money in the real estate business. With Africa’s fast-rising population, the need for a house will always be prevalent. Africans can gain from renting properties in safe communities with good schools and access to water and public transport. Also, it is a way of earning passive income.
5 . VACATION RENTAL
Renting your property to people that have come on vacation is a lucrative way to make some profit in the real estate industry. Vacation rentals are you renting your property for a short period of time. This is most profitable to Africans living in major cities. The most interesting part is that you don’t have to own the buildings to earn your passive income. Good negotiation and communication skill is all you need.
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