7 Steps to Begin Investing in Real Estate
In the previous blog I discussed, how early in our lives the concept of savings is introduced and how important it is to ‘invest’ your savings.
Here are the 7 Steps to enter into the real estate market and begin investing:-
Step 1: Know the market trends
Step 2: Make a list
Gone are the days when you used to make a ‘wish’. If you really want to begin investing make a ‘list’ of the properties which interests you or have come on to your radar while you were doing your homework (by homework I mean Step I)
Step 3: Reflect on the success factors
Now that you have a list, one by one go through each of them and think about what makes it stand out.
Such as location? May be it is closer to a business hub and people are visiting that area frequently. Or it is in the vicinity of an airport and development in the area is happening at a faster rate.
Developers i.e. who is developing the project? Find out their previous projects, their level of completion and success.
Any political affiliation? etc.
Step 5: Right time to invest is..
For short term returns, sell it as soon as the project kicks off. For long term; keep it as long as you can. All else depends on the satisfaction of your appetite.
Step 6: Diversify your portfolio
Sleeping poor at night and waking up as the richest person on earth the next morning – does not happen in real life.
Step 7: Insider Information
Find out a reputable real estate organization – who prefers relationship building rather than profit making! I mean everyone must run their homes; but it should not be at the loss of others.
Stay in contact with them; keep yourself updated with the real estate market and as soon as any opportunity clicks; invest right away!