Costly, yet often Overlooked Mistake in Property Investing: Not knowing your Target Audience
When it comes to property investing, most people would scrutinise their entry strategy closely – which is a good habit to have to ensure that the property checks all boxes of what they deem as “investment-grade”. However, few would give thought to their property’s future potential tenant and buyer pool. No matter how attractive of a deal you secured at the point of property purchase, rental income can only be earned if there are ready tenant pools for your property, and capital appreciation gains can only be captured if you are able to sell the property. Failing to identify your target audience could present you with obstacles to achieving that rental cash flow and resale gains that you have hoped to get out of your investment. How then can you identify your potential tenant and buyer pool?
