I have just joined BP after listening to alot of the Podcasts on Spotify.
I am a South African trying to break into the real estate market back home.
I'm torn between investing in an apartment in a brand new security complex in the first stage of development, out of 4. Or buying an older single family house and fixing it up. I plan on going the buy and hold route. I will be able to fully pay off the properties within 2 years, as I am using money from my job to pay off the loan, not just rental income.
Both properties are selling for the same price, the house will rent for slightly more per month though.
Has anyone got advice on buying into brand new gated community developments as opposed to buying into established neighbourhoods? Will the gated community offer more appreciation in the long run?
Any advice would be greatly appreciated.