Top 3 Tips to become a Successful Property Investor
May 27, 2017 Home Trading Steps
Owing to its ability to come up with hefty returns on most occasions, no wonder real estate is considered one of the top fruit bearing investing sector in the country. Investors try to buy properties, be it a piece of land or an apartment, for lower rates only to sell them for much increased prices after a couple of years or more. However, investing in realty sector comes with its own share of risks and people often forget to analyse the vulnerabilities in the said area before investing their hard earned money. So let us discuss how to become a successful real estate investor and the three areas that require your utmost attention before closing a property deal.
1. Investors need to have cool and calm composure:
Being composed and calm in all situations is one of the initial and significant requirement that a property investor must possess. Unlike stock prices, property prices are not much volatile and it requires a considerable period of time before your property’s price reaches its true potential. It is always recommended to wait, watch and evaluate the market conditions before closing any deal. On the other hand, panicking quickly and coming up with knee-jerk reactions will only incur losses to the investor.
2. To be aware of market conditions at all times:
The property market in India is highly volatile and equally unpredictable in certain situations. For example, a stable government will bring its own share of benefits in the realty sector while a sudden exit of the government has the potential to shake up the entire real estate industry. Even though you, as an investor, might have gone through numerous successful property deals, it is still required for you to study and evaluate prevailing market conditions at all times. Central, as well as the state government, has passed various bills as part of its reforms in the property sector. A successful investor always spends his time studying new laws that may have an impact on his invested property.
3. To be patient and wait for the right time to close a deal:
Real estate investments have no shortcut to success. Even though you may gain some quick profits in short term, chances are you may end up making compromises that are generally against business ethics. For example, a developer may go back on his promises in order to complete the project before the deadline. Although the developer will make a profit on that project, his reputation will only suffer in the long run. It is always recommended to ply by ethics and never go for short term gains that make you choose the unethical way.
1. Investors need to have cool and calm composure:
Being composed and calm in all situations is one of the initial and significant requirement that a property investor must possess. Unlike stock prices, property prices are not much volatile and it requires a considerable period of time before your property’s price reaches its true potential. It is always recommended to wait, watch and evaluate the market conditions before closing any deal. On the other hand, panicking quickly and coming up with knee-jerk reactions will only incur losses to the investor.
2. To be aware of market conditions at all times:
The property market in India is highly volatile and equally unpredictable in certain situations. For example, a stable government will bring its own share of benefits in the realty sector while a sudden exit of the government has the potential to shake up the entire real estate industry. Even though you, as an investor, might have gone through numerous successful property deals, it is still required for you to study and evaluate prevailing market conditions at all times. Central, as well as the state government, has passed various bills as part of its reforms in the property sector. A successful investor always spends his time studying new laws that may have an impact on his invested property.
3. To be patient and wait for the right time to close a deal:
Real estate investments have no shortcut to success. Even though you may gain some quick profits in short term, chances are you may end up making compromises that are generally against business ethics. For example, a developer may go back on his promises in order to complete the project before the deadline. Although the developer will make a profit on that project, his reputation will only suffer in the long run. It is always recommended to ply by ethics and never go for short term gains that make you choose the unethical way.
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