5 Fantastic Tips to Make it BIG in Real Estate Investment
Posted on February 23, 2018 by Niyi Olakitan in Blog Post
5 fantastic tips to make it BIG in real estate investment
As we all know, real estate sector has its challenges, ups and downs seasons, as much you can make a profit, you can also make a loss in a big way if care is not taken by the investor. I believe some of these points if not all, will help you make it big in the real estate industry.
1. Be patient –Buy slowly
Real estate investment requires a serious amount of patience in order not to rush into troubles. You have to tread softly when dealing with different type of people that you don’t even have an idea of who they are before you met them. Never rush to buy more than you can handle at a time. This will help you understand the terrain and also help avoid wastage and risk. As time goes on, you are familiar with the real estate ways. It is good to buy slowly because if you buy more at a time, you might end up regretting why you’ve bought so much when you can easily get later even at a better and cheaper price.
2. Find professional/experts you can use
To make it big, you must involve the services of experts like surveyors, estate valuer, Lawyers to mention a few. This will help you reduce wastage of funds, risks and also get the necessary information on the investment.
3. Leverage on distress sales
Leverage on distress sale especially during festive periods like Ileya, most property owners would want to sell to have some money for the celebration, then they are desperate to sell their properties at any price. Properties gotten this period can bring more than 200% profit to you after selling.
4. Don’t put your eggs in one basket
Don’t put all your funds in one area, as time goes on, diversify your holdings as this helps you to reduce risk and issues in the nearest future. Never invest all your fund in one community or one particular area because no one knows what tomorrow holds.
5. Always look for ways to add value
Don’t leave your property the same way it is for 3 months. Ensure you add value to it whenever the need arises. Update every document, clear and make the property clean, start little fencing works not more than 6 coaches or thereabout to mention a few of those things you do to add value to the property.
With all these points out of many, it is certain that BIG returns await you as you apply them. Wishing you a successful real estate investment!