Friday, 27 May 2011
Ian Clark, MD of Midas Estates offers the following top 10 tips on property investment in HK
FRIDAY, 27 MAY 2011
1. Do your due diligence and carry out as much research as possible.
2. Location, location, location.
3. Remember that this is an investment, you're not looking for a home that you would like to live in yourself.
4. Always go for growth if possible so you can refinance and buy again to keep building your portfolio.
5. Don't buy anything smaller than 450 square feet.
6. Get to know the area you're looking to buy in - visit the shops, pubs and restaurants and speak to local people Ask them if it's safe at night, enquire about the schools etc, local people will tell you everything and these are the people who will rent your investment property.
7. Look for easy access to motorways, train stations and public transport links.
8. Always have a buffer or slush fund and increase it as you build your portfolio, this will cover for example, lack of rental or repairs or any mortgage increase and will let you ride any storm.
9. Research on rentals within the area and take A￡100 off to make sure you get it spot on.
10. You should not buy your first buy to let investment if you are not prepared to give it 5 to 10 years. Above all, have fun!
Source: Midas Estates