The trend of investing in real estate in tourist areas for rental purposes is becoming increasingly popular in our country, especially among luxury condominiums that offer services comparable to five-star hotels in popular tourist destinations for foreigners, such as Pattaya, Hua Hin, and Phuket. Naturally, every investment comes with risks, so planning to mitigate those risks is something every investor should not overlook.

Prepare for Financing

            If you don't have enough capital or prefer not to use cash for this investment, seeking the most advantageous loan options should be your first step. Although banks have tightened their lending criteria, you must also accept the risk that during the initial rental phase, returns may be low or there may be no tenants at all. Therefore, it's essential to maintain financial liquidity.

Additional Expenses

In addition to the down payment and mortgage, there are unavoidable additional expenses, especially when renting in tourist areas where tenant turnover is frequent. Maintenance becomes a necessary consideration, particularly in coastal or mountainous tourist destinations where natural factors may also come into play.

Use Local Agents

            Entrusting your rental property to an agent can also be worthwhile, but it's best to find a local agent who is familiar with the area and the rental unit.

Develop a Solid Marketing Plan

            Establishing promotional channels to reach potential customers or groups that may become future clients is crucial. Creating a promotional page on Facebook, which is currently very popular, has advantages such as product visibility, clear images of the unit, and ease of contact and booking. If done well, you might not even need an agent.

Visit the Actual Unit

            This point should actually be the first step. Visiting the actual location and seeing the sample unit in person allows you to compare the pros and cons of each nearby project, as well as the surrounding environment. Because even if a project is excellent, with beautiful rooms and great views, if the access routes seem dangerous or are far from amenities, it may not meet customer needs. - เทอร์ร่า บีเคเค

Article by: TerraBKK Investment Tips

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