Yann-Loic Cohort aka Yann Darwin is an entrepreneur, investor, YouTuber and celebrated author. His top-selling book on real estate has had more than 250,000 downloads. Explaining how to aim for higher profitability in real estate, Darwin explains the various ways you can make your rental property profitable.
According to Darwin, a common myth in the real estate industry is that it requires a huge budget to start. When he left his job as a firefighter at the young age of 23, Darwin did not have a large initial outlay. It’s all about planning, he says. Taking his time to understand the industry, he realized what types of property are the most sought after.
Today, Covid-19 has brought in changes in consumer needs. For example, people are now looking for more spacious houses that will accommodate a home office. Workspaces and shops have also shifted their business to online platforms. Additionally, technology advancements have seen some consumers prefer smart homes. As an investor, these are all important factors to be considered before investing in a property, he notes.
There are various property types and there are also different ways to earn money by investing in real estate. Over time, property is meant to appreciate in value. While some investors prefer to hold a property for a short period, the longer you hold it the more likely its value will increase. Certain factors affect property appreciation. Location, renovations and inflation are some of the determinants in accessing property appreciation.
If you are looking to invest for an extended period, Darwin advises that you consider factors such as location before proceeding.
It is also essential to know the type of investment: whether it is an active or passive purchase. According to Darwin, an active real estate investment is one in which you are directly involved in the investment process. Passive real estate is an investment done through a third-party: that is, you invest in a real estate investment trust.
Investing in real estate may seem very complex, especially for a newbie. From the legislation, taxation and financial arrangements, to mention just a few, there are many processes involved. While the internet has made almost everything accessible, trends in the industry are constantly changing. Darwin recommends that you carry out your own research to avoid huge losses.
Besides sharing his knowledge through his book and YouTube channel, Darwin works with the Greenbull Group to educate people on investing smartly, improving their strategies, and boosting their skills. Greenbull's specialty is in real estate investing, private equity, financial markets, and insurance.