Investing in Property Like Celebrities
When it comes to investing, one of the hottest market to invest in is the real estate market. A lot of people love investing in property, even celebrities. We’ve all heard the news of stars owning several houses. Besides purchasing them for vacation homes and a place to stop over, these homes that they have is an asset they have acquired for investment purposes.
We all know the likes of Beyonce, Taylor Swift, as well as the Kardashian clan who own houses not only to live in but also other homes that they rarely use. These houses are held for investment purposes.
Investing itself is a very crucial thing that you need to do. It is essential that you own something that can be cashed in later in the future. Therefore, you should try investing in the real estate market and shop for property, as the celebrities do. In this article, we are going to talk and discuss several key practices that you can take as an example from the stars. Here is how to invest like a celebrity:
Sell It When the Price Is Right
Let’s take actor Donal Logue as an example. He sold his Woodland Hills home for $1.16 million. His initial buying price was $970,000. That is a 20% increase from his initial purchase, which was seven years ago.
This increase in sales shows how the real estate market keeps on growing and growing while the prices get higher and higher. However, you should keep in mind that when you want to sell your property, you should look at the condition of the market and only sell when you think the price is right.
A current trend nowadays when it comes to real estate is house flipping. House flipping is a trend where people buy houses for a very cheap price because of its unlivable conditions and then they redesign and make improvements to it so that they can sell it for a higher price. Nicole Polizzi, or more known as Snooki, even has a reality show based on her attempts in this endeavor with his husband.
Quality or Quantity
When investing, it is important to note that quality always comes first. A tip from celebrities is that you should always consider the location. Location is a crucial consideration when it comes to selecting real estate. Like the George Clooney, Brad Pitt, and Leonardi DiCaprio, they all have homes in prime luxury vacation spots. Once you buy real estate that is located in an excellent location, only then you can start and expand your collection by buying more in quantity.