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Popular ways to make money from realty in Georgia

06.02.2024
Popular ways to make money from realty in Georgia

Investing in realty is considered to be a popular way of earning money for those investors who have quite a large capital. At the same time, Georgia is one of the best countries in Europe for such purposes. This is due to the fact that there are favorable programs for investors, as well as tax benefits and other advantages. At the moment it is possible to consider various apartments for sale in Georgia, and depending on what goals the investor pursues in the future, he should choose the best option.

Renting out

When considering ways to recoup the investment, this is the first idea that comes up. Depending on where the apartment is located and what costs the investor is ready for, the investor chooses the type of lease: long term or short term. Each has its own characteristics.

Long-term lease

In this case, the area is rented for permanent or long-term residence of people. This method has its advantages, which include the following:

  • the ability to choose the tenants independently;
  • you need to spend less time on monitoring and visiting the apartment;
  • stable monthly income, the amount of which is determined by the owner of the apartment.

It is worth noting the difficulties that can be encountered by adherents of this method of earning. There may be long breaks between tenants, when the apartment remains uninhabited, due to which there is a temporary loss of income. In addition, various risks associated with property damage cannot be ruled out. Even with a formal lease agreement, lengthy legal proceedings can occur.

Short-term rentals

For apartments that are located in popular tourist areas, for example, or in historical centers, it is much more profitable to rent daily. This can be realized on platforms such as Airbnb, for example, or Booking. The pros of this format are high profitability, as well as the ability to use the accommodation at the time you need it yourself. The minuses can be considered:

  • income is unstable and can depend on seasonality;
  • increased wear and tear and more damage;
  • the need for active management of the dwelling;
  • dependence on the platforms on which ads are placed.

Thus, this type of rental is not suitable for everyone, and it is necessary to take into account the above features.

Flipping

The advantage is that you can initially invest a smaller amount, as you buy an apartment that requires repair or some improvements. You can also buy an apartment in a new building, which has only rough finishing. After the property is put in order, it is sold at a higher price.

However, in terms of payback, this method may be less effective and more risky. Repairs and improvements will take time, so this format is suitable for those who do not expect a quick payback. It is also worth realizing that if the renovations are not as high quality as expected, the final value of the home may be lower than expected.

In such important matters as investing a large amount of money, it is necessary to rely on many factors, as well as consult with experts.

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