‘In every crisis, there is opportunity” an ancient Chinese saying paraphrased and there can be no more apt time these days with the global financial crisis still hovering around. For those of you who have been felt the blow of its effects and may have had decrease in your personal wealth, at least in paper value, there are still many opportunities abound for you to invest your money and if patient enough, see a good return on your investment five years down the road.
Though being liquid is good, there is a tendency for most cash rich people to over spend a bit. More often than not, spending excessively or beyond your budget becomes the norm. One of the more tried and tested investment is real estate. Especially now, when real estate prices are undervalued, this is the time to buy and pay cash on the spot. Doing so gets you even more discounts. Here are some tips on looking for great deals:
– Purchase apartments and condominiums in high density cities. One such city that is most often overlooked is Paris. Paris is still the most cosmopolitan city in Europe and these days, there are great deals you can find on the Internet. Though the prices of Paris apartments seem on the high side, they are 15 to 30% lower than they were two and a half years ago. Look for apartments in jerusalem for sale that have been newly refurbished and for the amount you may want to pay, take a trip down there and meet up with a real estate broker. When finding what you like, ask politely if you can meet with the owner, and then make an initial offer of 30% less than what is asked for with a spot cash payment. From this point, there will probably be more negotiations going on. Be ready to walk away if it doesn’t fit your budget, as this will be an investment to you. You will need the real estate broker as well, since you may want to have this apartment rented anyways. If you intend to use the apartment to reside in, purchase a two or three bedroom apartment. If you are looking for apartments as investment purposes, better to get a one or two bedroom, if not a loft or a suite. This way, you can purchase more apartments and then have it rented since the rental cost is lower.
– This formula can be used with most other cities as well. In the end, your investment will appreciate over time as the property market runs in cycles and when you see the prices of real estate increasing by 40%, you can unload if you wish to.