Many people turn to real estate when looking to increase their investment portfolios and if you are looking at purchasing property in Ghana, now is a perfect time.
Investing in the Ghanaian property sector has become increasingly popular over the years. Despite the sometimes tough economy, it is possible to make money in the property sector.
Buying real estate comes with many challenges but it has can also have great rewards. Let’s look at a few ways investors can take advantage of the real estate sector in Ghana.
Buying a property and renting it out will ensure you receive either fixed yearly or monthly incomes. Landlords are, however, expected to take care of any maintenance issues on the property.
If it is not possible for you to be actively involved in the maintenance or if you do not live nearby, you may have to hire a property manager to oversee such issues.
Do enough research on the type of property you want to buy. Familiarise yourself with the neighbourhood and the rent charged by other landlords in the area. It will ensure you can still make a profit with the property without overcharging or undercharging your tenants.
Maybe you don’t want the responsibility of owning and maintaining a property or even going through the process of finding tenants?
Then you can look to property flipping. The flipping of property has been around for a long time and can be a lucrative opportunity. It involves buying a property and quickly reselling it to turn a profit.
However, you would first need to have a substantial amount of your own money available plus an in-depth knowledge of the land ownership and the process of buying and selling houses. If this sounds like something you can handle, you can explore this process further.
Mobus Properties Ltd. is a privately-held Ghanaian property investment, development and management company focusing on commercial and residential property development. The company has property portfolios in Ghana and Nigeria.
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