The economy isn’t what it used to be. Neither is the stock market. But, there are still a few ways to grow your hard-earned cash rather than leaving it in a bank to gain interest at an achingly slow rate while you’re charged exorbitant rates for your trouble.
One prime avenue for revenue growth is real estate investment. Investing in foreign markets as well as on home turf might seem daunting at first, but there are sufficient reasons for looking into it. Let’s check it out.
Investing in real estate might seem like a gamble at first because you’re taking your cash and investing it in a very illiquid asset, but it’s truly one of the most solid ways to invest your money. Real estate provides a great flow of cash back into your pocket with money that can be accrued in various ways. One of these ways is rental income. Renting out your property brings in a steady flow of income at very little cost to you – barring any repairs.
If you invest in a property that’s stable, and you use a local real estate agent and lawyer to ensure that your investment doesn’t bring you a deficit in legal fees or reparations, it becomes very easy to manage. With little or no input from you, the property will flourish and gain value over time, while providing you with that steady stream of income from rent.
By avoiding fixer-uppers and ensuring you buy the best you can, your investment can be kept free of risk. Be sure to evaluate the economic and political climate before you buy, as this plays a huge factor in the stability of any real estate investment.
Great Investment Areas:
If you’re looking for tips, here are a few areas which are projected as great investment regions for 2014. With rich cultures, fair climates and an influx of tourism, these areas are well worth some consideration.
Due to the shift in the economic climate, property prices in Italy are at an all-time low. It’s possible to buy property here are budget prices and create an investment which you can take advantage of in the rental market. As a favoured zone for holidaymakers in both the local and global perspective, Italy provides a solid foundation for profit and earnings in 2014. In addition, as of 2014 the Italian government has reduced the Land Registry tax by 900 Euros for every 100,000 Euros of the sale price. If you’re looking for a long term investment, it’s possible to buy one of these relatively cheap homes and renovate, and then resell at a higher price.
You’ll be pleasantly surprised when investing in Turkey because of its low property prices. It’s also possible to get a low mortgage rate in Turkey, something which is not true of most foreign countries. With a culture that appeals to most tourists, Turkey is a rising star in the global tourism industry. New in-government reforms have led to a slackening of laws regarding real estate, and has made for a more comfortable political climate for foreigners to settle into. The unemployment rate is down, and due to the influx of visitors the local culture is extremely international, especially in major cities. Couple cheap real estate with the fact that the wealthy class of Turks is increasingly steadily, and you have a recipe for rent profit pie.
Viva Le France! France is famed for its fantastic wine regions, culinary prowess and fantastic real estate. As a holiday favourite for many British nationals, there’s no shortage of holidaymakers to rent to once you have bought your property. Many of them buy homes there themselves, but a portion of the population is in dire need of renting opportunities. That’s where you come in.
There’s also another benefit to investing in real estate in France: leaseback. With this opportunity, you’re able to buy your property and lease it back to the real estate agency from which you bought it. They then use it to house vacationers and rent it on your behalf.
With an economic shift and the chance to invest in property overseas, there’s no reason you can’t turn a profit in the short or long term, depending on your desires and needs.