You can use different strategies to grow your property portfolio. These include investing in rental apartments, single family homes, industrial property, retail real estate, office space, hospitality or overseas properties. You can also gain expertise in flipping houses, lease options, investing in off plan property or buying at foreclosure sale.But these can never replace the fundamental principles of real estate investing. There can be various strategies and methodologies for creating wealth through properties but the principles of investing are eternal. I have seen many experienced investors who become over confident and violate these principles. They invariably suffer grave consequences. So please study the following fundamental principles of property investing with care. Some of the basic princples are:* ‘Buy and Hold’ will Make You Rich
* ‘CashFlow’ Funds Your Real Estate Business and Gives You Peace of Mind
* Do the Math’s – Investing is about numbers and not emotions
* Location is the key to your success
* Always Buy From a Motivated Seller
* Use Other Peoples Money (OPM) to Fund Your Purchases
* Make Use of the Property Cycle to accelerate your growth
* Negotiate Everything
* Knowledge of Real Estate Investing is the Key to Success
* Take ActionA brilliant investment property is never seen with the eyes it is always seen by the mind.Thousands of people will pass a property and will see no any value in it. It takes an educated mind to understand what is the real value and potential of a property. Like anything in life education is the key. Believe me take action even if you have limited knowledge about investing. Think big but start small. A few small steps will change the out come of your life. Understanding and applying these basic principles are the key to success in property investing.
Nowadays, everyone is searching for an alternative source of earning to strengthen personal finances. Today, the job market has become more competitive, but at the same time, wages have gone down unexpectedly. Real estate is one of the popular business fields today that can help you generate passive income with least efforts. Just setup a proven system and follow the business blueprint carefully. Once you have designed the core system for your real estate business, you just have to maintain the flow after that.A comprehensive guide on making passive income using real estate propertiesIf you have some money to spend, you must consider investing in real estate properties. If you don’t have a budget to spend, you can still become a realtor and help others sell their properties. You can earn commissions when a seller successfully handovers the property to a client. Let’s explore how you can generate passive earning from a real estate property.Idea #1 renting real estate propertiesIf you have some money to spend, find out the properties for sale in your neighborhood. Find out a good property that attracts renters. You can buy that property and advertise that property for residential and commercial rentals. You can also take loans from the banks or other financial organizations and buy properties. You can repay the installments from the rents you’re collecting.Idea #2 buy, renovate and sell real estate propertiesSome realtors takeover others properties, renovate the foreclosure and sell those to potential customers. The realtors spend some money for renovation after purchasing the property. But they can make handsome profit when they find a client eager to buy a property in that specific neighborhood. Doing this also requires a hefty investment to be made.Idea #3 help other sell their real estate propertiesIf you don’t have the budget to invest on such properties, you can think in a different way. You can promote the properties to be sold and refer potential clients to the seller. You can play the role of a realtor broker through a website and earn commissions from property deals. In most places, you will find realtors communities where you’ll find more resources on building such site for promoting properties. The concept is very similar to affiliate marketing.Extensive research, comprehensive knowledge is extremely importantTo become a successful realtor, you have to conduct comprehensive research on that business field. You have to explore how the properties are making profits for the realtors. You have to learn about the pricing, and calculate the expected profit before investing on any property. You should also compare the prices, make queries about the neighborhood and expected rents before purchasing a property. You should have a clear idea about the property, its history and recent inhabitants to find and sell it to potential clients.Real estate business is mostly about huge investments and bank transactions. If you know how to handle properties, you can make huge profit from every property deal. So, take some time, research and explore the core business ideas before you leap into this business.
Selling real estate is all about emotions. You are talking to people about the largest single purchase they have ever made and are ever likely to make. In addition what they are buying is usually their very first home, their place of refuge from the rest of the world. As a real estate seller you are the person who is going to guide them through the process and enable them to become happily involved in their dream home. People buy things from people they know, like and trust. As a seller of real estate you must first sell yourself. If you do that, the rest will follow.To sell yourself you must have someone to sell to. You must cultivate prospects. The fastest road to credibility is by referral. If you have a happy customer who is willing to refer you to his or her friends, family and acquaintances you are more than half way there. You must ask for referrals. Let your happy customer know that referrals are very important to you. If you have just concluded a good transaction they will be glad to help. Get names and phone numbers and leave several cards with your happy customer so that she can give them to the people she forgot to list. Be sure to say something like, be sure to invite me to the house warming. If you get invited you can have a chance to distribute few cards and meet some people. If you are new in the business and don’t have many customers do the same with friends and acquaintances who know you, like you and trust you. Also be sure these business allies have several of your business cards and that you have encouraged them to pass them out. Building a business is not a passive activity you must be aggressive about letting people know what you do and how to contact you. Your business card is a very important tool for accomplishing this goal. Selling real estate has changed in the past few years. In the current market you must be willing to reach out to your potential customers. Buyers are tentative and want to be sure they are getting the best deal and being treated fairly. You must be able to reassure them. At your next open house concentrate as much on selling yourself as you do on selling the house. Be sure you speak to every person on one topic not related to the property and be sure every person leaves with your business card. Get their contact info and follow up. In this way you build rapport, gain trust, and begin to grow your business.