There are various approaches to buying property depending on what suits you. You can buy property as a lone ranger, some choose to use the peer approach in acquiring properties while others opt for the cooperative approach. In this piece and in the audio that comes after, you will get to learn how to buy a property using peer approach.
Do you know that you can become a proud landlord without much ado using the peer property acquisition approach? Simply put, peer approach is when a group of friends come together with the aim of buying properties together in a common area. This ensures that they stay together in that location.
In situation such as this, these group of friends approach the same agent to help them search for a suitable property in a common location. They are usually a group of 5-10 friends. Like they say, two heads are better than one. When a group of friends come together to acquire property from a common source and place, there is so much advantage in that than going in search of a property as an individual or what you can term ‘lone ranger’.
Invariably, the lone ranger approach to property acquisition is not as safe and easy as the peer approach. Going out into the market in search of a property; as an individual you are exposed to more risk than if the search is done as a group of friends with a common goal.
However, the most consequential thing to put into consideration while adopting the peer approach to property acquisition is that you must have a good knowledge about those you are in the wagon with; I mean the friends that have come together to actualize their dreams of becoming proud landlords. As the saying goes; Birds of the same plumage flock together. So, who are these friends you are flocking with? Can you tolerate one another? Do you have mutual trust for one another? Do you all have the financial capacities to acquire the property you are gunning for? Are you all of the same social status?
All the aforementioned questions must first be answered before you jump into the wagon.
That notwithstanding, whether you are buying from a property firm or an omonile, Peer approach to property acquisition is a lot easier that the lone ranger approach.
Peer approach to property acquisition gives you the leverage to own properties within your income bracket.
To learn more on this topic, listen to the audio below: