“I made a tremendous amount of money in real estate. I’ll take real estate over going to Wall Street and making 2.8%,” says Ivanka Trump. From globetrotting businesspeople, to potential first-time homeowners, property and all the factors around it remains an area of substantial interest.
Large scale real estate investment is consistently the most sustainable way to generate passive income and eventually accrue a substantial level of wealth.
Property investment has consistently proven to be exceedingly rewarding when approached the right way. But that’s just it, what is the right way to go about investing into a sprawling new development, or looking to buy your first home?
Knowledge is key, and this means doing your research across the board. Due diligence in finding the property best catered to fulfilling your aspirations requires finding a trustworthy and knowledgeable property expert. For many people prospecting in real estate or home ownership, there are a lot of factors to consider that may have a direct influence on their decisions and outcome.
While the interest rate hikes are impacting transaction volumes and forcing homebuyers to reconsider purchasing their dream home, the rental market is going strong. Property rentals are performing at an all-time high, attracting home-based as well as international tenants and investors. Investors are even achieving record high prices in luxury areas such as the upper eastern side and especially in the Central Business District due to proximity of amenities. These areas of real estate are highly profitable, not only as investment opportunities, but also as a tool to build generational wealth and lifelong security.
Investing in a rental property can contribute to your monthly cash flow and build long-term wealth. However, day-to-day property management can be strenuous. So, what if you want to explore real estate investment without the stress and pressures of managing the property?
If your main interest is additional income and don’t wish to be in control of the details of your rental investment, consider all the benefits that come with property management attainable for a small percentage of your rental income, thus giving you increased freedom to explore other endeavours. Essentially, a property manager acts as the link between a tenant and the landlord. Property managers are responsible for various tasks including handling property maintenance, managing tenants and payments.
There are evident upsides to this practice. Areas such as marketing and day-to-day upkeep are taken out of your hands. Property managers are well versed at rental marketing and sales should you wish to sell your investment property, this includes taking high-quality photos and hosting events such as open houses.
With a wealth of local real estate knowledge, they’re able to help you set competitive prices. Property management professionals with vast marketing experience also aid in filling your property sooner thus reducing the risk of loss of income due to lack of timely occupation.
A large chunk of Namibia’s entrepreneurial moguls have built and multiplied their wealth through real estate investment. Most of their net worth has been built through property acquisitions in strategic locations across the country including Windhoek, coastal towns, and in northern Namibia. Large scale real estate investment is consistently the most sustainable way to generate passive income and eventually accrue a substantial level of wealth if managed well.
*Petrina Keramen is a Property Specialist with Empress Realtors and can be reached on Facebook: Petrina Ablonia Keramen and Instagram: empress_realtors
