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Ask yourself, how much work are you willing to take on with this investment? It might seem like a good idea to invest in high-income property as it yields more returns. But keep in mind that it also requires a lot more work, dedication and time when compared to a smaller property. As a beginner, it\u2019s advisable to start small with a less demanding property and then take it from there. Starting with one small property will allow you to learn from less costly mistakes, giving you the experience needed to successfully invest in a bigger rental property later.<\/p>\n
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Step two: Choose your locality<\/strong><\/p>\n <\/p>\n Take into account the type of neighbourhood that you\u2019ll be investing in. Is it safe? Close to amenities? Is it a cultural hub that\u2019s attractive to visitors? Choosing a place that\u2019s attractive to tenants and with a high demand for property, will most likely yield more returns and increase your investment over time.<\/p>\n <\/p>\n Step three: Decide on the rent<\/strong><\/p>\n <\/p>\n Find out how much do tenants in that neighbourhood pay for rent, on average. That way, you can choose a property that\u2019ll keep you competitive in terms of rent prices, while still remaining profitable.<\/p>\n Step four: Financing<\/strong><\/p>\n <\/p>\n How will you be financing the investment? How much mortgage can you afford to pay? Taking time to consider these and other financing details will help you find a property that perfectly suits your budget without breaking the bank. Pay a visit to your banker to hash out the details around what your budget is, taking into account factors like your startup capital and the projected returns offered by the proposed investment property.<\/p>\n <\/p>\n <\/p>\n![\"\"](\"https:\/\/capitalcambodia.com\/wp-content\/uploads\/2019\/11\/Page-15s-1.jpg\")