Real Estate Investor Magazine South Africa August 2015 | Page 55
importance of buying in the right area to successfully
fix and flip a property. The investment in the renovation
was well worth it: we changed an average, dated house
into a modern home, which meant it had market
appeal and was an easy sell. The lesson we learnt is that
it is advantageous to buy a decent house in a good area:
there is always a high demand for properties in those
suburbs.”
“At every stage of our journey,
we were aware of the role of the
right property in realising our
immediate needs.”
Jenny adds that selecting investment properties,
acquired with the view to rent them out, involves
different motivators. “When buying an investment
property, we are critical about location appeal, market
growth, rental returns and, of course, affordability.”
“At every stage of our journey, we were aware of the
role of the right property in realising our immediate
needs, in creating additional income and in legacy
planning,” she says.
ADVICE FOR WOMEN WHO TO START INVEST IN
PROPERTY
• Take control of your own future and have the confidence not
to leave such an important decision solely to someone else.
Ensure your voice is heard if making the investment decision
with a partner, especially if you are contributing financially.
• Do not let fear stop you from entering the property market.
You can up-skill yourself by attending property-related
conferences, seminars and networking events. Subscribe to
industry newsletters and research the best-of-breed services
providers (mortgage providers, attorneys, estate agents):
you want to build a relationship with them.
• Chat to a mortgage specialist about the ins and outs of
qualifying for a home loan, the long-term commitments and
all the costs of buying a property. You need to be clear on
what you are in for - now, on transfer and in the long run.
• Be clear on the reason why you want to buy a property. You
will approach the purchase decision with a different mindset
if you want to create a home for a growing family than
when investing in a property to rent out to a tenant to earn
a subsidiary income.
RESOURCES
Cypriot Realty
www.reimag.co.za
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