INVESTING LIKE GURUS: 20 TOP SECRETS OF REAL ESTATE INVESTMENT (1) 1 | Without controversy, real estate investment option is one of the surest investment vehicles and a great way to make good money in today‘s marketplace. It is one of the global investment decisions to generate regular income. It is a cash cow or income source that increases in cash value on the home or land that you buy. It is a great possibility for investors who want to build wealth. However, as veritable as it is, real estate can cause pains if its practices are flawed. It takes a minor ducking of due diligence to create a gamut of head-ache in this industry. 2 | Real estate investment is an appealing idea. It is about providing accommodation and related services to people and corporations. 3 | Risk Determinant Factor (RDF): Do not expect to share the same benefits with investors who know how to buy lands in its bush state. 4 | Future Development Determinant Factor (FDDF): Avoid unnecessary complaints on distance to today’s development. 5 | Get involved in the Bush Transformation Race (BTR). Those who arise to invest in the bushes of today will enjoy peculiar wealth when the bushes become towns and cities. Those who stay back shall congregate with the majority of spectators when the towns and cities emerge from the present bushes. 6 | Far Distance Factor (FDF): Since the whole world is shrinking to become one global village, do not limit your possibilities due to physical geography. We are living in a new world with journey-less, borderless possibilities. 7 | Poverty Mentality Factor (PMF): The present position of a property is not its real value or worth, ability to convert is a powerful tool to a successful investment in real estate. Poor mentality can limit your take, thinking from a different perspective can launch you into unofficial wealth. 8 | Never expect to wake up to see an emergence of towns and cities in bush locations, they are made possible by risk investors. The process of development is gradual, slow and steady. It often attracts attention and comments of onlookers who may return to the locations as tenants and bruised historians. 9 | Real estate investors most often fall into some traps which in effect always lead to unsavoury experiences either in cash-flow, branding, bankruptcy, goodwill and trust. One of such is the premonition to get rich quick through real estate investment. 10 | One danger of thinking that real estate is going to lift you up in a jiffy is that you will be short-sighted with other opportunities while focusing on your ‘get rich quick’ ambition. 11 | It is not advisable to borrow money to purchase investments, a home that you plan to rent out or land that you plan to hold unto for a future gain. Most real estate investments that are done with borrowed money often end up being a burden instead of helping to build wealth. Never depend on proceeds from rent to offset debts, some unexpected events might disrupt your plan. 12 | Most real estate investment may take many years before gaining good profit. 13 | You can use a loan to purchase short term properties and other monies to purchase long term properties. 14 | If you choose to manage your investment as a landlord, you shall be responsible when things go wrong. If you appoint a rental agency, it acts as the middleman who schedules repairs, brokers and deals with the tenants on your behalf. The reason why many landlords appoint agents is because they do not have enough time to do everything to service their properties. 15 | Carry out due diligence on research through the layout plan of the land to ensure that there is adequate provision for road and the houses are well laid out before you purchase a land. The reason for this is that road is a major determinant of value when it comes to property deals. 16 | Road may increase or decrease the value of your property. You can proceed to make the right decision about purchasing any property for investment once the road network is well laid out. 17 | You can live in your own apartment as your own tenant, this means that you must place value on your property and ensure its value appreciates along with the facilities and infrastructures around. Keep an eye on the road network, never allow a road that provides access to your property to be closed. 18 | Every land or property that you take interest in must be done with investment reason even if you are to borrow it for other reasons in the interim. The question is, if you buy for personal purpose what happens if you later consider raising money through it? 19 | Consider your income and maintain a life-style that helps you achieve your investment goals. 20 | If you have to let out part of our building for additional stream of income, ensure your construction or conversion complies with standard building codes. JOIN OUR WHATSAPP GROUP: TEXT “To join Land Investment Group” on WhatsApp to +234 803 3030 614
Posted on: Mon, 03 Nov 2014 10:27:49 +0000