When investing in real estate, you would most likely want a property that won’t have you busting all your life savings and would hopefully be easy to rent out. Luckily, the Condormitel is one of the most ideal property investments for anyone looking for a steady side-business with a modest starting capital for a real estate investment.
A Condormitel is a mix of a condominium, dormitory, and hotel that has taken the real estate world by storm. This property is almost like a high-class dormitory, with amenities similar to a condominium. It operates on a per-bed basis, usually having 4 beds. They are often high rise buildings in convenient locations, making them ideal properties for a wide range of people. And since there’s a market gravitating towards them, then there’s definitely an opportunity there to discover.
Sounds interesting enough? Here are 5 more reasons you should consider investing in this real estate superstar.
5 Reasons to Invest in a Condormitel Unit
1. Location Is Always Good
If there’s anything important to note when investing in real estate, it’s the location. That is something that Condormitels have done well. These properties are for students and the working class, which is why they are often located near universities and business districts. Students looking for housing by their campus are most likely to rent these spaces as residents. Workers who work late shifts and live far from their own homes can stay for the night. So there will always be people around the area looking for lodging.
2. Marketing Is Not A Problem
It’s not hard to hook someone with the idea of renting a Condormitel with the features that it has at a good and affordable price to the middle class. Most Condormitels come with amenities and perks that you can find in a condominium or hotel building. From pools to air-conditioned lobbies, this property will surely appeal to the masses who want the condominium lifestyle in a much affordable price point.
3. Getting Started Won’t Be Expensive
Compared to other real estate properties, Condormitels don’t require as big of a starting capital to buy one unit. On average, these units can house four people and will be paying per bed. This also applies to people who wish to rent their space on a long-term basis. Investors also have the option to renovate their units, which would, of course, require more capital. However, it is possible to raise the rent to pay off these additional investments.
4. Earning is Stress-free
What’s better than earning money without strain? Some Condormitel developers provide a stress-free package for investors. All you have to do is pay for the unit and they’ll take care of the rest. These owners will even take on the responsibility of finding your tenants, so you technically won’t have to do much work.
5. Income is Fairly Steady
This property investment has all the makings of a stable income. Renting as a business itself generates a steady income flow. And since these properties possess desirable locations and are safe and affordable for the working class, it is almost guaranteed that you would always drum up business.
So if you have the resources to start investing in real estate properties, then this property is one to not be disregarded. With the business that it’s drumming up in the market, it would be a waste to miss the opportunity.
Interested to invest in real estate projects? Then consider inquiring about other possibilities with CitiGlobal Realty & Development Inc., a trusted real estate development company in the Philippines dedicated to funding and investing quality projects in ideal locations across the country. Contact us today to find out how you can get started.
Still new to real estate investing? Try reading: Your Guide to Finding Credible Real Estate Developers in the Philippines
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