Before you start your investment, think of a strategy first. There are a number of aspects to consider, such as your goals and your timeline, not to forget the capital you have at your disposal.
Increase in value is an important element in making a profit. As you plan your purchase, map out investments with potential for increase in value. However, in the short term, a strategy that is purely based on increase in value may often turn out to be unprofitable. It is recommended that you primarily look for a solid rental profit and expect a reasonable increase in value only in the long run.
Start planning your strategy with choosing certain areas, apartment sizes, demography, and perhaps even a specific decade of building stock in the area. The more detailed your strategy, the easier and quicker it is to make the decision to buy. And swift action is often key in the property business. When you are familiar with the area, its building stock, the housing companies, services in the area and transport connections, it is easy to make a quick decision as a suitable apartment comes up for sale. Familiarity with the area also helps you determine appropriate price ranges and rent levels.