Real estate is one of the top investments you can find here in the Philippines. New condo units are being built anywhere in the city and provinces. This makes earning from real estate a lot easier because you can easily earn from renting out your condo units or buying at a lower price during the pre-selling period. Anyone can earn from it provided you have a good knowledge of the real estate industry. Now, the main question is how many condo units should you buy for you to earn your target profit?
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.
If you would ask me specifically how many units do you need, I won’t be able to answer that but there are numerous ways to find out. For instance, you can decide how many condo units to buy based on your budget. If you can afford as many as 5 units, do not hesitate to buy. But then again, you need to consider other factors that might affect your profitability especially if you don’t manage your properties properly. Buying condo units come with big responsibilities. Be aware of your responsibilities.
Your target market will lead you to good choices of location, how big the unit is, and how many units should you purchase. If you decide to target students from big universities to rent out your place, then it’s better if you will buy from a developer near those schools. How big the unit depends on the rent arrangement. For example, if you are going to rent it out as a whole unit, a studio or 1 bedroom is enough so it won’t be too costly. However, if you will make it look like a dorm for students, then a bigger one would be practical.
What’s your purpose of buying condo units? Is it for business? If yes, then you would need more than one unit to make it profitable. Doing business in the real estate industry is a good option as well because there is money in here. The only big decision you have to make is the acquisition of your property which would require a bigger capital than any other investments or businesses. My advice is that you buy condo units for the purpose of making it a business. Manage and maintain your properties.