Real estate’s a job, not  a hobby

There’s a perception that with real estate, one can never go wrong. Many people with spare money to invest fancy property because of its (perceived) hands-off approach when it comes to management. This enables them to engage in other activities while passively earning additional income from their property investments. PHOTO | FILE

What you need to know:

  • “Many people who enter real estate do so with a lot of zeal, but fail to build their investment portfolios past their first land purchase. I even advise my clients to avoid the property sector if necessary, as it is not always as glamorous as it might seem on the surface,” he says.
  • Mr Daniel Ojijo started working in real estate 20 years ago as a part-time  house-letting agent. However, he discovered that for him to fully realise the profits that he intended to in the property market, he needed to pursue it as a full-time career.
  • If such a home owner chooses to bypass professional realtors and decides to engage the potential buyers on their own, they not only risk being conned, but also selling the house at a price that’s far much lower than the current market prices.

Mr Dennis Wanjala’s job as an investment manager typically requires him to sit down with his clients and discuss possible avenues through which they can invest their money. He say that in the recent past, most of his clients have been keen on putting their money in real estate rather than in other enterprises such as setting up retail stores, for instance.

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