Real estate investing is the purchase or sale of the property to earn money. The different categories of real estate are:
Residential real estate that includes houses like 2 & 3 bhk flats in Nagpur apartment buildings, and vacation properties, commercial real estate and industrial real estate.
Commercial real estate that involves office spaces, retail storefronts, or any building used for business purposes.
Industrial real estate includes warehouses, storage units, and special-purpose structures like car washing garages.
Best ways to invest in real estate
· Buying REITs ( Real estate investment trusts)
· By using an online real estate investing platform
· By investing in rental properties
· By flipping investment properties
· By renting out a room
The first step to get started is by learning from accomplished investors. One can start by buying assets and not liabilities
5-ways to get started
o By setting money aside to invest while focusing on educating oneself
o By choosing a real estate market and investing style to pursue: The five main investing styles include, sole proprietorship, Partnership, Syndication, REITs, and crowdfunding. When looking for investing in a new market, the four characteristics to be considered are population growth, job growth, wage/salary growth, and employment diversity. Roofstock’s Resource Center on Markets and John Burns - Proprietary Tools are the resources for getting key data points of the market
o By analyzing deals: Once the target market is identified, a deal analysis of the market needs to be done. The analysis includes looking for whether the investment gives cash flow, What bare the expenses and ways and means to reduce them and whether the area has a rental demand, and is it worth investing in a specific property?
o By starting to build one’s team and network: A team comprising, real estate agent or broker, property manager, lender, insurance agent, accountant, and real estate attorney needs to be built. Investing through online platforms has the advantage of having an already built up team. Networking plays an important role in real estate investment and the team can be built up through referrals. Team building can be done through personal calling, interviewing, and selecting
o By making offers and closing deals: Skill needs to be developed for making quick and workable deals. A delay may end up in someone else grabbing the deal by the time one makes up his mind. Once the deal is analyzed, offer needs to be made. The team manages everything and closes the deal, but the decision has to be made by the investor.
One has to take time with each of the above steps and if in need, help can be sought. There are books, podcasts, forums, meet ups, seminars and training programs are available for enhancing knowledge in this field. New technologies are available online to educate one self.
Shiv Kailasa is the property by Om Shivam Buildcon in MIHAN, Nagpur that offers a wide latitude to invest and a trusted real estate company. One can reap immense benefits by investing in this property
Comments
Post a Comment