It’s very wise, when you have excess funds or you’ll retire from a 4-8 jobs in the future then you invest your funds. One of the most effective and classical investments is property. However, it doesn’t matter how many property book or magazines you have read and how many questions you have asked to your colleagues, you’ll still have doubts to start investing property.
Don’t worry, you are not alone. In most case, property becomes a long-term investment that is quite difficult to predict. In fact, a lot of people find it difficult to follow and accept the process and eventually stop before starting. But let’s think this way, every investment requires a process and has its own risks.
1. Measure Your Financial Condition
Although it refer to the cash available in your account or post to be invested, don’ t let it take you down. If you’re having not enough cash, it’s okay to make a loan. The key is that you have a proper income that can pay in installment. However, it’s suggested to place the loan as additional fund. Thus, it’s very important to avoid making loan while it’s far exceeding your savings.
2. Set Goals
The first thing you should do is mapping out of what goals you want to achieve. After that you need to set a deadline about when your investment should reach those goals. This step will be helpful as you can control, measure, and predict the progress of your property investment.
When you’re going to retire in 4-5 years, you should invest in properties near the urban areas or close to the developing area according the governmental grand planning. However, if you do have some more time, it can be more flexible, you can consider rural area’s property.
3. Understand The Risks
Risk can be defined as an unwanted uncertainty and can cause harm. Understanding the risks will help you to make decisions and determines strategies as you should have prepared for the risk at the first place.