REAL ESTATE INVESTMENT 101 – EVERYTHING YOU NEED TO KNOW ABOUT REAL ESTATE

REAL ESTATE INVESTMENT 101 – EVERYTHING YOU NEED TO KNOW ABOUT REAL ESTATE

So you have just stepped into the real estate world for investment purposes and you’re unsure about the starting place. The opportunities are endless but which one is the right one?.

Here’s what will happen once you start reaching out to people:

Everyone you meet will tell you about some ‘Golden Opportunity’ that will give you an amazing return on investment. It will sound like the perfect place to invest your money in.

So let us tell you things that no one will tell you.

  1. Every business comes with a risk, but with the right research, your investment in real estate should not cause a significant loss.
  2. Always check if the place is approved by the relevant authorities. Not a single block or sector, the entire project HAS to be approved. Do not fall in the traps of ‘its just in the process’ people will tell you to buy before approval ‘because the prices will hike once its approved’. Do not believe them. The risk is not worth it.
  3. In case you are buying plot files, ask for the dates for possession and completion. It is ideal to buy plot files that are about to be balloted. For balloting, there is yet another catch, many people will tell you about the supposedly tentative dates but you only have to believe the press releases by the authorities.
  4. For completion, there is only one way to find out how much development has been carried out, and that is to personally visit. Take someone who has a complete knowledge of the place so they can guide you accordingly. Ideally, the society should have carpeted roads, water and electricity supply. At least 60% of the development should be complete. You also should be able to see live development going on when you visit.
  5. Make sure you are doing the right homework. Word of mouth isn’t the most trust worthy as it is contaminated with peoples own biases and agendas. Moreover, it’s the job of a property dealer to sell their product and make sure you do not go else where. So you need better, and more reliable resources. Do not just ask for the marketing material, ask for a site visit, approvals, dates of balloting and expected possession.
  6. Make a comprehensive check list and think before you act. In case you’re unable to visit yourself, ask someone trust worthy on your behalf.

These are essentially all the details you need to know before making an investment.

Best of luck!

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