When purchasing investment real estate, it is very important to plan your holding period.
We will share our experience using the example of small apartments that are purchased for rental purposes.
The optimal property is a compact apartment in a new building or a renovated building.
It is fully furnished and equipped. Then we find the first tenant.
We plan in advance for a ten-year period. This is a normal timeframe during which the apartment will not require major repairs.
Additionally, when calculating profitability, a ten-year return period is often taken into account.
During this period, there will be 4-5 tenant changes. However, if they are careful tenants, the apartment will remain in good condition.
After terminating the lease with the last tenant, it is recommended to remove the furniture (except for the built-in kitchen and closets),
touch up the walls, perform professional cleaning, and put the apartment up for sale.
Much depends on the condition of the building (facade, common areas, territory). If everything is properly maintained and the building looks neat, then you can delay the sale. If there are problems, it is better to hurry with the sale.
Accordingly, after completing the purchase and sale transaction, you can invest the funds in the next property.
This will be a new or renovated building that has just been put into operation.
In this way, you will not only achieve good returns but also maintain the liquidity of your invested funds.
An apartment in a newer and higher-quality building will be more liquid than an apartment in an older building.
If you wish to acquire a quality property, if individual attention is important to you, if you want to communicate with a real estate agent and lawyer in your native language, contact our company KOM-INVEST! We will be happy to select a suitable property for you, answer all your questions, draw attention to important details, handle all documentation, arrange your residence permit, and manage your property.
For more detailed information about obtaining a residence permit in Latvia, see here in various sections.
Have questions? We are waiting for your email or call!
Phone number: +371 29774775
Email: info@kominvest.com
Skype: KOM-INVEST