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Saturday, June 07, 2014

Real Estate Miriam answers all.

Ask Real Estate expert Miriam Engeln anything about properties in ARUBA, such as how to invest in real estate, how to maximize occupancy in vacation properties, rental income tips, constructing a house, home exchange, house flipping, retire-/ moving to ARUBA and so on.

This week’s question and answer:

Eric Pieters; How can I make money in Real Estate?

Miriam Engeln:

In order to get into real estate you need to determine how much money you are willing to spend and what you want to do. Do you want to flip and sell a house, get rental income or simple hold onto the property? I would recommend buying a property that you can fix up and improve. After putting the work into it, rent it out. Rental rates are up so now is a great time to rent.

Depending on your price range and location, nice houses/ apartments are available.

I would put about 30% down of your own money and get a mortgage on the property. Then if you rent it out, use the rental income money to pay off the mortgage. In conclusion; learning how to make money in real estate is not easy.

A lot of work has to go into buying a home, and I can assist you with this here in Aruba. Let me know when you arrive.

Email your real estate questions to email address; mdengeln@yahoo.com and a selection of your questions will be answered each Saturday in Aruba Daily newspaper and on this blog.

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