Location, Location, Location
It doesn’t matter who you speak to when it comes to the first piece of advice that they give you with regards to property, the answer will almost certainly be “location”. You can have the finest building in the world, but if it is in an undesirable location you will never get its true value. That is why property investors take the time to carry out the necessary research and due diligence to ensure that the property that they buy is in the right location.
If you are considering purchasing an investment property one of your concerns will be finding tenants. Once you have actually found a tenant you will then want them to be ‘suitable’ tenants, this means tenants who will pay the rent when it is due, stay for the medium to long term and of course look after your property. Anyone who has ever attempted to rent out a property will tell you that this is not as easy as it may sound.
The whole process of finding these elusive suitable tenants is made a whole lot easier if your property is in the right location. Better locations by their very nature attract better quality tenants and there may even be competition between tenants for your property if your property stands out from the crowd. Competition will give you more opportunity to be more selective over which tenants you allow to live in your property – once again increasing your chances of gaining quality tenants.
Of course, in an ideal world we would not have any issues with tenants as we would gain a regular income for the medium to long term from a reliable tenant and we wouldn’t have to lift a finger. Someone else would manage our property on our behalf, have the headache of finding suitable tenants whilst at the same time paying us an attractive return. Imagine if this were possible and that the return in question was 10% p.a. in a location in the world that was seeing an increase in the number of visitors year on year?
This is exactly the deal that is on offer from the New Nordic Group in Pattaya, Thailand. The group have completed dozens of properties over the last decade offering this exact deal. They build the property, sell it to investors – hence they get their desired return, rent the unit back from investors for periods of 5-20 years and then sub-let the units out to generate profit for themselves and 10% p.a. returns for the investors.
The business model is now so finely tuned that occupancy rates, even in the low season, are kept to the absolute minimum required to turn a profit. It is the perfect concept and one that is tried and tested and thanks to the company’s cash-flow, infrastructure and reputation and one that has numerous failsafes. In fact, many other local developers have tried to emulate the scheme but as yet none have the resources in place to give investors the same level of confidence that they gain from the New Nordic programme. This really is the perfect investment in an ideal location whilst at the same time offering great returns.
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