<\/strong>The first step for those who want to transition into becoming a “real estate investor”<\/strong><\/span> is often to start by purchasing a condo. This could be for short-term speculation, holding onto it for a long time before selling, or even renting out the condo<\/strong> to generate a steady income. However, some people still fear buying to rent out, worrying about finding tenants, maintaining the unit, and the risk of having an empty room. Of course, “High Risk, High Return”<\/em><\/strong><\/span> is a known fact; they understand the risks but feel the need to try... because buying a condo to rent out and waiting for the right moment to sell for profit is one of the best forms of real estate speculation. For those unsure of where to start, let’s take a look at what needs to be done.

1. Find the Right Location<\/strong><\/span><\/p>

               

The right location should be suitable for investment, densely populated, not deserted, and equipped with amenities such as shopping malls, markets, public transport, and offices<\/strong>. These factors serve as excellent magnets for investing in renting out condos<\/strong>, such as Silom-Sathorn, early to mid Sukhumvit, and Ratchada. If you are already a fan of TerraBKK, you may have read articles about prime locations suitable for renting out.

- Investment hotspots in “Thonglor-Ekkamai”<\/a><\/span><\/p>

- 5 prime locations for student rentals (finding condos to rent)<\/a><\/span><\/p>

- Is investing in “second-hand condos” better than “new condos”?<\/a><\/span><\/p>

- Rental prices for condos in the “Phaholyothin-Anusawari” area<\/a><\/span><\/p>

- Rental prices for condos at Lat Phrao Intersection<\/a><\/span><\/p>

2. Set a Budget and Start Searching for Your Desired Condo<\/strong><\/span><\/p>

                Once you have your preferred location, check if the prices exceed your budget, whether it’s a new project or a second-hand one. If you’re unsure where to look, the TerraBKK.com website offers a map search feature where you can specify your budget or find homes at competitive prices that are cheaper than others in the same area (click link)<\/a> <\/span>. The lower the price you can buy a condo for investment, the better; selling it later will yield profit, and renting it out will give you an advantage due to lower costs compared to others who purchased at the same time.

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3. Negotiate the Purchase Once You Find the Right Unit<\/strong><\/span><\/p>

                Once you find a unit you like, the next step is to negotiate with the owner or agent to proceed with the purchase and prepare the necessary documents. If you are paying in cash, it may not be as complicated as getting a bank loan, which requires contacting banks and finding one that offers low-interest rates. It’s advisable to research multiple banks to find the best interest rates<\/strong><\/span>. TerraBKK has previously discussed this topic in detail; you can read more at >> How to Prepare for Buying a Second-Hand Home?<\/a><\/span>

4. Once You Own the Unit, Don’t Delay in Renting It Out<\/strong><\/span><\/p>

                This applies specifically to completed projects or second-hand units that are ready to move in (TerraBKK recommends that if you want to buy to rent out, you should buy completed projects because you can rent them out immediately and see income right away<\/strong><\/span>). Once you have the unit, you should advertise for tenants right away. There are several channels for this, whether through an agent (which incurs a fee equivalent to one month’s rent) or if you prefer not to pay an agent, you can post the listing yourself. The website TerraBKK.com<\/strong><\/span> is another platform where everyone can post listings for free. Additionally, the website TerraBKK.com<\/strong><\/span> also offers market price checks to see if your rental price is above or below the market rate. If you’re interested, you can post your listing at this link >> Post for Free on TerraBKK.com<\/a><\/span>

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