rank-math domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/opinow1/haredltd.com/wp-includes/functions.php on line 6114updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/opinow1/haredltd.com/wp-includes/functions.php on line 6114If you\u2019re considering having sustainable wealth for a lifetime, start investing in real estate. Dan Lok and other successful experts have consistently made this recommendation. There is a range of channels to invest, however, investment in real estate is one of the most feasible ways to generate stable cash flow, beat inflation and promote infrastructural development in society. However, diving into this sector without understanding its technicality is a straight drive to failure which could lead to bankruptcy. Hence it is important to have a good understanding of how real estate works before making an investment decision. Here are 10 tips for investing in real estate:<\/p>\n
CFA Institute has identified four major types of real estate investments; private equity (direct ownership), publicly traded equity (indirect ownership claim) private debt (direct mortgage lending) and publicly traded debts (security mortgage). Similarly, properties are also in three categories; low-income properties, middle-income properties and upper-income properties. Understanding each of these investment and property types and how they can serve your goals will help you consider the type of real estate investment you want to do.<\/p>\n
The importance of research cannot be overemphasized in real estate. Before buying a property you need to conduct some background checks<\/p>\n
Ascertain the current state and ownership of the property. Unknowingly purchasing properties that are facing legal disputes can be very frustrating and could lead to a loss of investment. It is also vital to identify who has the legal ownership right on the property. For example, you can get information on military.com about some properties that are strictly for the military.<\/p>\n
Approach the town planning office to understand the pre-planned infrastructural design of the community and the existing zoning regulations. This is necessary to avoid purchasing committed lands. Committed lands are owned and controlled by the government.<\/p>\n
An accomplished real estate investor and author, Ken Mcelroy identified market trends as the most important criteria to check before investing in real estate. Every location or city has its peculiarity such as the immigration and emigration ratio, population and demographics, and employment trends among others. All these variables are vital indicators to identify the type of real estate gap that exists in a specific location.<\/p>\n
‘Better be unborn than untaught, for ignorance is the root of misfortune’, is a famous quote on the Forbes website credited to Plato. This reiterates the importance of seeking and gaining the right knowledge before venturing into any form of business; cause without knowledge you will act in ignorance. Ignorantly investing in real estate will cost you your money and time and will never bring you close to financial freedom. One of the best ways to learn about real estate investing is by reading books, taking classes and watching videos.<\/p>\n
This implies taking more deliberate action to address the growth and productivity of your investments. Clint Coons of Forbes advised people who are interested in real estate to avoid the hobbyist mindset and develop clear ambitious and attainable business goals for their investments. This means you need to have a plan and follow it, and also periodically evaluate how you are moving towards those goals.<\/p>\n
Timing and location are two important factors that influence returns on real estate investments. Consider buying properties at a time when they are cheap and also endeavour to tap into underutilized\/hidden locations. Once you’ve made your investment decision, the next step is to take action.<\/p>\n
Nirmala Reddy of Forbes defines a strategy as a long-term plan aimed to help a business achieve its envisioned goals. From time immemorial all the studies on business development and investment have reported that lack or poor strategy will kill a business. On the other hand, investors with good business strategies were found to excel and make productive business decisions. Designing a good strategy is no doubt the basic foundation for investing in real estate.<\/p>\n
Some of the productive ways of learning business strategy are by consulting business experts, taking courses and reading books on business strategy, and adopting and adapting existing successful strategies.<\/p>\n
Success is a collaborative effort. You need resourceful professionals to help you in the management of your real estate investment. Russ Whitney, a successful real estate author calls this power team. The dynamic team includes real estate brokers, mortgage brokers, bankers, insurance agents, government and grant loan experts, accountants, other investors and business owners, handypersons and craftspeople. Each of these people plays a different role in your success as some are responsible for just providing you with information and connecting you with immense resources while some offer paid services. You may not be able to raise the team all at once, but starting with two or three persons is key as having in mind that real estate investment is not a one-man show.<\/p>\n
If you’re looking to improve your investing skills, there’s no better way than learning from the best. You can do this by reading books and attending seminars and conferences, listening to podcasts and watching videos. Examples of these seminars and conferences are West Africa Property Investment Summit, Nigeria DecorExpo, Nigeria BuildExpo, and Real Estate Unite Conference among others.<\/p>\n
Joining a real estate investor group that pulls resources together to acquire a property or make an investment is also a safe starting point, especially for beginners. Examples of these groups include Life Bridge capital, Cosgrove Investment LTD, Zylus Group International among others, and Odu\u2019a Investment Company Limited<\/p>\n
In conclusion, understanding the real estate sector, market trends and having financial education are very key to running a successful real estate investment. Hence, interested individuals should endeavour to make the necessary consultations with professionals so that they could optimally leverage the opportunities in the real estate sector.<\/p>\n
CFA Institute (2022). Overview of types of real estate investment<\/em>. Retrieved from https:\/\/www.cfainstitute.org\/en\/membership\/professional-development\/refresher-readings\/real-estate-investments<\/a><\/p>\n Clint Coons (2022). The Real Estate Investing Business: treat it as a business.<\/em> Retrieved from The Real Estate Investing Business: treat it as a business<\/a><\/p>\n Nigeria Real Estate Hub. (2018). Real Estate Event Directory<\/em>.\u00a0 Retrieved from https:\/\/nigeriarealestatehub.com\/real-estate-events-directory\/<\/a><\/p>\n The Motley Fool. (2021). What is a REIG<\/em>? Retrieved from https:\/\/www.fool.com\/investing\/stock-market\/market-sectors\/real-estate-investing\/basics\/real-estate-investment-group\/<\/a><\/p>\n