Experts in Real Estate Investing and What We can Learn from Them
Seth Williams, Founder of REtipster.com, says “First and foremost, I look at cash flow. My primary purpose for any long-term investment is to create a new stream of income that puts money in my pocket after all of its expenses are paid. Strong, positive cash flow is an absolute MUST for any prospective property purchase.”
Real estate is one of the fastest growing domains today, and real estate investing does require a good amount of skill as well. As compared to a couple of years ago when real estate investing books, journals and talking to people used to do the trick, today, with so much competition and a good number of folks approaching real estate owners themselves (where previously a broker played this role), more people are learning the tactics and trying to better themselves.
In such cases, real estate investing for beginners is helpful however there are many times fraudulent activities can occur, and seldom a big deal gone wrong can also add to the trauma. To add to this, builders and owners can also pull nasty tricks up their sleeves. To stay away from such scenarios and get better at the real estate ‘game’ these very simple but effective real estate investing tips can be a boon for beginners:
1. Research Beyond Necessity
You could research every day and still miss out on something. Real estate is a huge platform and learning about the same does not happen overnight. Go through the internet, read books and journals, talk to people and check YouTube. Real estate investing research should be in-depth, relevant and precise.
2. Keep an Open Mind
While you may have your perfect home in mind, it is important to be practical and know that you will always have to compromise on something. In this case, mark your priorities, i.e., things you absolutely cannot budge on and others you are willing to consider. This will help you tremendously while choosing between apartments.
3. Go Beyond the Apartment:
Although your home is the place, you will spend most of your time, the vicinity, society and environment matter too. Check the recreation activities offered, distance from schools, office, markets, etc. and then take a call.
4. Keep your Options Open
Going ahead, if you choose to let go of the apartment or even sub-let it, you should be able to get a good profit deal. To help understand this aspect, you could ask other brokers about the area and apartment and research the market to gain information of how to go about with it. A piece of property that has a minimum or negligible resale value may not be the best long-term investment.
5. Set Budgets:
Work with fixed budgets of how much you are willing to shell out for different aspects. While some highs and lows are expected in this case, make sure to stick to your goals to ensure good stability even after investments.
It is also crucial to bear in mind that commercial real estate investing isn’t for everyone. If you are new, it is always advisable to stick to reputed brokers or talk to people and do it the old-fashioned way instead of trying to do it all by yourself and ending up in a mess.
Sancheti Builders, a brand name in Pune since many years has a number of on-going and completed projects. With many new and modern amenities, spacious sites and beautiful homes, Sancheti Builders makes a fantastic choice if you are looking out for everything under one roof!