INVESTING
Even so , first time and new property developers may be unsure about where to start . To enable them to successfully develop their first property and make a significant difference to unlock the potential of townships , Netshitenzhe offers five essential tips on the best ways to get started .
# 1 Invest in your yourself Gaining knowledge of property matters is essential , so that you have a grasp of the fundamentals of property development . These include understanding construction , how to appoint contractors , and the types of construction contracts to enter into . It is also important to learn a bit about property design and how to successfully navigate the town planning processes . You don ’ t have to become an expert , but having a working knowledge of these matters will set you up for success . six months to a year , effective property management is needed for the lifetime of the investment . If you finance the property through uMaStandi , you should anticipate having a 10 to 15-year relationship - at least .
It is essential therefore that you develop property management skills and learn how to vet your tenants , and what types of leases to enter into . Even if you employ a property managing agent , you need to ensure that your
# 2 Develop basic property management skills The most important part of property investment is having a firm grasp of property management . While construction of a property may only take
27 MARCH 2024 Real Estate Investor Magazine