Shelter is among the basic needs of human and to satisfy that need is to own a house. This comes in real estate, an investment instrument in which you can put your money into property lots, townhouses, and condominium units.

The main target of real estate agents are OFWs or their families because they believe that these people have the financial capability to spend their money for an investment. But, is it ideal for OFWs to invest in a condo unit?

If you’re one of those people who are thinking to invest in a condo unit, you need to identify first your purpose and plan why you need to invest in this type of real estate. Likewise, you should understand that an investment is anything that makes you money.

Condo Investment can make you money if:

• You’re planning to rent it out or to sell it in the future
• You have plan to use it as an asset to improve your portfolio income

The good thing about investing in condos is that it is affordable, high price appreciation, and would allow you to earn income through rental.

Read also: Why Gold Investment is Important for OFW’s

Would you believe that investing in real estate such as condo units can be a great vehicle to accumulate more wealth? In fact, most prominent billionaires in the Philippines have a huge stake in the real estate. You may be hesitant to invest in condo, but this investment instrument is a tried and proven means of obtaining wealth.

Advantage of investing in condo units

This type of investment may seem too expensive for a new investor, but for OFWs this is very affordable not to mention the potential to acquire assured profit.

If you want to test the water, you can start investing to a studio type condo. Studio units have lower down payment and monthly amortization, but you can expect for good return on investment. The monthly amortization may range from Php12,000 to Php15,000.

Read also: Buying Pre-Selling Homes is a Good Investment for OFWs

Another advantage of this type of investment is that you can gain monthly income if you rent it out. The demand for condo for rents is increasing especially in the business districts. Most likely you can find tenants like businessmen, young professionals, and expats who are typically single.

Choosing the prime location is the key to make money when investing in a condo unit. The place should be accessible to work places, malls, shops, schools, government offices, and so on. Higher price appreciation is possible if the condo is in prime locations.

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Gold is a good investment to consider because you can use it during financial urgency. It’s because the monetary value of this precious metal doesn’t easily depreciate. You can sell or pawned it to use the money if you need to.

Unlike other investment, gold is not affected by the economic inflation or deflation. If you’re an OFW or anyone in the family is working overseas, try to check this post and learn how to invest in gold.

Read also: Smart Investments for OFW

Tips in Gold Investment

1. Purchase gold bullions

If you prefer long-term investment, the best option is to buy gold bullions. This gives you the advantage of owning the gold directly. You can buy from private sellers, from government mints, precious metals specialists, and coin dealers.

2. Gold mining stocks

Investing in gold mining stocks can make you money because they’re active businesses. However, before you engage in gold mining stocks you need to learn first the basic of stock investing. You can learn from online courses or free lectures.

3. Purchase shares from gold streaming companies

Gold streaming companies are the financiers of gold mining companies. The good thing about investing in gold streaming companies is that you can have better prices of gold and at the same time earn income from the gold production share. Some of the gold streaming companies to consider include Franco Nevada and Royal Gold. All you have to do is to identify which one will work best for you.

Read also: How to Buy, Sell and Trade Gold in the Philippines

Prior of investing in gold, you must assess your options beforehand. Identify your purpose why you want to invest in this precious metal. Whatever purpose you may have, you should think about the primary considerations such as the costs (recurring annual fees and upfront fees), counter party risks, and proximity of assets.

Gold related investments are solid choices because of its stability even during economic uncertainty and global geopolitical instability. But, investors must pay attention on their portfolios holistically. By investing in gold correctly you can diversify your investment portfolio.

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