Tips for Real Estate Investors

Investment in Real Estate is one big opportunity for an individual who is looking at the bigger financial future and long term returns. It is one decision, if taken wisely has the capacity to multiply your wealth and I feel that good investment tips can be very helpful in making that right decision. Not only does it increases your chances of success in any Real Estate investment that you make, but also helps you to divert your valuable time and money in the right direction.

Real Estate as a matter of fact requires a lot of patience as it will surely get you rich but like any other business it might not give you immediate returns. It is one of the biggest business opportunities for an individual and it can open up multiple avenues for making more money if one makes a smart decision. But for that, one has to analyze and understand all the possibilities and risks involved in the business and more importantly, he/she has to be prepared to take that kind of risk. We always want to add Read Estate to the investments that we are making but first and foremost you need to plan the financial part of this investment very wisely. It may require a lot of initial funding and a regular cash inflow to protect yourself from getting stuck at a later stage. It is just about that risk taking appetite and a strategic planning that can make you multiply your investment.

One thing that I have learnt from my personal experience in Real Estate is that in order to achieve what you expect, you need to have a long –term vision and do things in a very organized manner. It is a very complicated business venture and to be effective in this field a lot of in depth knowledge and a good market research is required to make best from this opportunity.

Looking at all the pros and cons of the business, a good Realtor can be of a great help in terms of giving an expert advice and getting the right things done for you. It will not only save your time and money but will also make your investment worth it. Just for an example, we at RE/MAX train all our Associates on all the aspects starting from the basic documentation to the legal aspects a Real Estate transaction. The experience and the knowledge that a trained realtor carries makes the transaction a soothing experience for the investor.

Real Estate is a game of networking. The more you network, the more opportunities you create for yourself in the market. A smart investor will always be well aware of the best and the worst investments available in the market and this learning comes with experience.  I feel that a network that can connect you to not only national but international Real Estate markets would be an added advantage that can make an investor go global instead of just being local.

In a nutshell, I feel that first of all an investor should identify his investment horizon, whether he wants to invest for a short- term or long- term and the kind of Real Estate they would like to invest in. A comparative analysis of the market trend/rates versus the opportunities available can help them figure out what will bring the best ROI. Last but not the least, before anything one should understand the plans of the government for that particular market as that is one of the most crucial factors to decide the success of the investment.

Real Estate as a business itself has multiple angles and there is always a right and the wrong way of doing this business. As beginners, everybody makes a lot’s of mistakes as first of all we are sometimes not clear of what we are getting into and secondly we sometimes avoid following the systems. As soon as we invest our money somewhere, it’s a general human tendency that we start thinking that when will we get rich. Real Estate is very appealing but it demands a lot investment in terms of time to take the right decision at the right time. For beginners, a good mentor can help you with an expertise that can save you from a lot of traps into which investors often tend to fall.

Real Estate: A Technology Trauma

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Yes you read it right! Technology is the all-pervading presence in our lives including our very own real estate. The nearest our industry has come to technology is: flashing smart-phones and no it’s not because you use the smart-phone as a smart-phone. It is but a status symbol. I guess I am being too harsh. For the slightly more tech-savvy listing on a few “popular” portals and subscribing to a hundred different groups is what they do!

Yes my friend you did use technology-EUREKA! The real question is what did you GAIN out of it? The answer probably left you with what I call “Technology Trauma.”  It affects those who don’t understand this mammoth thus don’t use it or use it but don’t get the gains.

 

There is a lot to technology but here we will cover a few common ones. We shall have more posts taking in each aspect in detail. The problems:

  • Property websites: Lack of MLS system makes it difficult to check if the property is genuine. www.remax.in follows the MLS system which most of the other portals did not do.
  • Google Broker Groups: Number of Broker Groups available without a proper filter system. At Remax India, there is a huge network of Brokers and that too in your city. It covers almost all of the major cities in India.
  • Popularity on Search engines: Huge number of property websites with few genuine hits on each. Again you have an advantage with www.remax.in which could be easily searched through various search engines like Google and Bing.

 

 

So how do we solve this problem?

Property websites: Identify key websites which work for you and bring in genuine enquiries, www.remax.in is an ideal. Look at the latest updates and follow selected members of the site.

Google broker groups: Analyze whether the group will serve any purpose. What do you wish to gain from the group. On joining a group for the next few days monitor the activity on the group and decide whether to actively follow it. Broker groups available on Remax India site without a lot of search.

Save time and don’t list on every website you come across. Spend that time actually following quality. “White noise” is a problem of too much information and we need to identify the right sources to give and take information.

Keep a lookout for our post on using technology to plug lead leaks!

 

 

Best Real Estate Consultancy Company – 2012

+RE/MAX India winner of “Best Real Estate Consultancy Company” Award for the year 2012 by Brands Academy at the NDTV Profit ASEAN-SAARC Real Estate Awards 

Best Real Estate Consultancy Company - 2012

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