The biggest challenge anyone faces when seeking to invest in real estate business is money and the question people often ask is, How much do you need to make your first real estate investment? This includes knowing how much you will need to make that investment and is usually the most intimidating part in real estate investment.
This is because you always have a variety to choose from, despite having started out with a different financial goal. This sometimes pushes one to change their mind and try to get something that looks better or sometimes more valuable than they had in mind. The initial goal has to change.
The truth, however, is that you need not stress about having to change your budget or overspend. You don’t need to have millions in your bank account to make that real estate investment and become a property owner.
When you set out to purchase property, it is important that you get this property through trusted real estate companies like Fanaka Real Estate, which has over many years offered exemplary services to clients when it comes to acquiring property and goes the extra mile to ensure they are comfortable and have value for their money.
So, here’s how much you need, to make your first real estate investment:
Most real estate companies offer various payment options to their clients and as soon as you identify the property you want to purchase, you get down to details of making the acquisition. One of them is how you intend, or want to pay for the property.
Most, if not all real estate companies, offer the option of paying for that investment in installments and for Fanaka Real estate, the period is usually up to 12 months. What you need here is a small percentage of the total amount, usually 20-30% of the total cost of the property.
Real estate companies also allow for one to get a bank loan which they will use as payment for that particular property, and make regular repayments until the loan is cleared.
Other real estate investment companies allow for monthly payments for a piece of property and once you have paid up to the full amount, the property is handed over to you, the new owner.
What this means is that you don’t need to have the entire Ksh2 million to have that property. You can start with what you have, and that’s all you need to make your first investment in real estate.