The Property Itself
Once you’ve fulfilled all of these requirements, then you can feel free to embark on a crowdsourced social media venture.
Be sure to do some research into the condition of the actual property. Major unforeseen repairs or renovations can eat into the bottom line of a project quickly. Sometimes sellers will intentionally omit issues with the property and other times they simply may not be aware of them. In either case it is the onus of the buyer to discover potential problems. Of course not all real estate investors, especially amateur ones, are qualified to inspect a home. That’s why you need to hire good people to do this for you. Having a property thoroughly inspected is one place where you shouldn’t skimp. The cash you save here will pale in comparison to the cash you will lose if the property turns out to be a white elephant.
Finally, Manshoory encourages all investors interested in online crowdfunded real estate investments to investigate the platform on which they are investing. Every platform has different terms of service, and proprietors with different levels of expertise. The unregulated nature of crowdfunding is part of the reason it can be an exciting venture, but it also means there isn’t a great barrier to entry for charlatans looking to make a quick buck.
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