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Galeno Family (Sheryl, Clarace, Harly)

Investing in Bacolod Property and Some of the Mistakes to Know and Avoid

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Buying a home or property in Bacolod is definitely a good investment. It’s among those few situations where property increase in value as time passes instead of losing its value. People who tend to incur losses after investing in real property are those who tend to commit a lot of mistakes, which could have been avoided at the start. The goal of real estate investment in Bacolod is to buy low, let the property increase in value and then sell at a higher price. Just like the stock market, real estate investment carries its own set of risk and factors which can influence market price and profit. Think before leaping Never buy any property without first knowing what you are buying. It may be a great deal and it may be in high demand but if you don't know what you are going to do with it or how it long you will keep it will just end up losing you money. Consider reselling houses Reselling houses is extremely trendy and can make a great profit but only if you have a plan and stick to it. Knowing what you can afford, what type of property you want to buy, how long you want / afford can keep the property, and how much money you want to make from it - These are all important questions to ask yourself before any investing happens. All successful investors have an exit plan, if something goes wrong, they already know what they need to do to close up shop and save as much money as they can on the deal. Investments are both for the rich and poor If you have any extra money at all you can invest in something. Homes, and properties can be bought for just a small amount of money. On top of that there are many good loans with good rates that allow individuals to put a limited amount of money down on a house. The less you put down on a house the less money that house is going to have in equity. You will also have to pay a higher interest rate and therefore a higher monthly payment. Before buying real estate establish a budget and strictly adhere to it. Remember you are not purchasing your dream home, just a property that is going to make you money. Fast but not that fast Buying and selling property is profitable however it is important to remember that buying a property and selling it in a slow market is not going to make you a profit at all. Yes, you have to understand that you may need to make a couple of mortgage payments, however once you get to sell a house in the right market will definitely add to your gain. Don’t forget the fact that investments are long term opportunities so you can’t expect your net worth to increase overnight.

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