If you are a people’s person, then you know what a charity home can do for the homeless. What you probably wouldn’t know is how much you can get out of an abandoned charity home as well. This article will briefly take you through those steps to finding repossessed homes and making use of them for your own benefit.
WHY CHARITY HOMES
What you may not know about charity homes is that they are free of tax. You pay less for an investment and get more out of it because of this. It is not illegal per say because you are buying out a charity home for the purpose of using it for charity, and after a few years you decide to change it into something for yourself. For this reason, a charity home is a great investment for you.
WHERE CAN I FIND A GOOD INVESTMENT
What you will notice mostly is that charity homes are based on the outskirts of the city. This is because land sizes are massive and the cost of land is relatively lower than in the city itself. You can begin by looking within the city if you want a charity home close to home, but I would recommend starting from outside and making your way in. It is important to understand why you should begin on the outside. Apart from it being cheaper than within the city, most people who have been abandoned generally tend to prefer staying outside of the city because of all those memories and sufferings they remember from it. Your charity home will be booming and you will do a lot of good for those people in it as well. That’s two birds with one stone!
CAN I START FROM SCRATCH
Yes of course you can! I wouldn’t recommend starting from scratch because you will need to create your own image before you do anything else. This is difficult (especially in developed nations) because people will prefer to go to places that already have a name for themselves. This is also the reason why it is hard to start a new anything in today’s world, but that’s not the point of this article. The point is, yes you can begin from scratch if you really feel like you can, but I would recommend going for an abandoned charity home and building up from there or buying out one and going from there. Both options are attractive and have good returns (both emotional and monetary).
In conclusion, your intention as a real estate investor should be to look for the profit. However, your intention as a charity home investor should be two-fold. You need to make sure that you are in it to do something good for the people and the Return on Investment is a secondary motive. You should consider doing this charity because then you will know what it feels like to do something good for someone else other than yourself or your family.