Investing in real estate to get money is the best way to generate regular income. Because there are a large number of options that assist owners to make money from a vacant buying property in Thailand. But the choice of option is based on owner needs and preferences.
Some of the best ways are mentioned below:
Buy An Apartment And Rent It
This is the most popular way to make money on real estate. If you ask any person “how to make money on real estate” he will immediately answer – hand it over on a monthly basis. There are a lot of offers from the residents – you only need to weed out the ones that are not suitable in your opinion. This may include the option of renting a room in an apartment or in a hostel.
This is a good method as there are minimum body movements. Once to sign an agreement with the tenant, you will start receiving monthly rent.
It will produce a relatively low income. For example, if you buy an apartment on the mortgage, rental income in some areas will be low compared to a mortgage payment.
Buy An Apartment And Rent It Out Daily
A more interesting way to make money in your apartment. It involves renting an apartment for business people, travelers, nightclub lovers and other entertainment enthusiasts who want to rent an apartment with the aim of having a lot of fun. Apart from this, its good for people who come on a business trip. They often check in not for one day, but for a week, two, which is still much more profitable for them than living in a hotel. These are people have a decent social status and they don’t deliver problems to anyone.
Higher-income compared to monthly change.
- Possible damage to property if a “wrong” person entered.
- The best audience is business travelers. They live without troubling anyone and often rent housing for more than one day.
- Regular cleaning of the apartment and washing of bed linen
Buy an apartment for a hostel
This is a format of a budgeted hotel, which came from the west and involves renting a bed in a comfortable apartment. The number of beds can reach 10-12. If a hostel with a large number of migrant workers comes to mind, then this is completely different. This room need good repair with all amenities. These hostels are a great solution for those who need to stay overnight, but there is no desire to pay a large amount to an apartment for rent.
Very high revenue due to the large customer cycle
Regular income in view of a large number of beds.
- There is a need to make high-quality repairs.
- It will also be necessary to buy several 2-level beds
- Perhaps the neighbors’ discontent over the large cycle of people
- For high-quality work and maximum earnings, it will be necessary to register an individual entrepreneur to issue travel lists to enhance people visiting.
Buy A Cottage House And Rent It Out
For those who have their own cottage, there is also no problem getting income from it in the form of rental. It delivers both monthly and daily change options. Keep in mind the location of the cottage matter. Because most people prefer a cottage outside the city to spend their vacations with family. If you had a cottage, you can also rent out room by room. At New Year or other peak times when hotels are full, people love to spend time in cottages.
- Stable income – you can rent a cottage at any time of the year. This is a comfortable accommodation in the fresh air and isolation from neighbors.
- Variability of the type of change – you can rent part of the cottage, you can rent it room-by-room, you can rent it at different times of the year
- Most often, cottages are located outside the city, so its transport geo-location is important here.
- The greatest demand is for housing a small area – 50-80 square meters. As a rule, cottages have a much larger area. The solution is to populate several tenants.
Buy a garage/car space and rent it out
If you have a shortage of funds and want to invest in real estate in Thailand. Investing in a garage or car space is the best idea. You can easily buy garages, parking lots in underground parking areas and at affordable rates.
Low price entry – you do not need to consider a loan. Your personal investment can be enough.
Generate low income compared to other sources.
Hope, the above detail will help you to buy best property that suits your pocket and generate regular income. Based on your funds and requirements, you can also invest in commercial properties for the best returns. For this you need guidance, therefore do not hesitate to hire a professional real estate agent where you aim to invest.