Tuesday, April 3, 2018

5 Keys to Invest in Real Estate

Real Estate is more than just a job or knowing about the current market: it’s all about taking smart risks. Whether you’re buying your first house, taking it to the next level and buying your second home, or simply considering houses an investment opportunity, there’s always something to learn from Real Estate. 

Miami Riches is here, not only as your trustworthy Real Estate company, but also as your advice-giving ally. Before investing on the first house or condo you see, there are some tips and tricks you should take into consideration. That’s why today we’ll tell you some important things to keep in the back of your mind when investing in Real Estate.

1.    Know your client: Real Estate isn’t just finding and buying a house. In fact, the job doesn’t end as soon as you sign the contract. Firstly, you must know what your client is looking for: are they looking for their first house or are they in search of their second home? Do they need a short-term rental or a vacation spot? Are they looking for a house, a condo or a studio apartment? After you know the needs of your customer and offer guidance during the process, it’s important to guarantee proper management right after they own the property; offering them insurance and assistance is key!

2.    Understand your market: Before offering something they can’t have to your clients, it’s important to understand the market you’re in: are sales high or low? Is it a good area to live in? What types of properties are being sold?

3.    Type of property: The property you pick is just as important as the area you decide to invest in. Are you looking for a commercial space or a residential property? In case you’ve chosen to invest in a residential property, now it’s important to know if it’s a newly built property or if it has been on the market for some time.

4.    Short or long term?: One of the most important things to understand is whether you are facing a short or a long term investment. If you’re looking for short-term investments, look for ways to make quick repairs and fast sales; for long-term investments, rentals are the perfect choice.

5.    Diversification: Investing all your money in one property isn’t the smartest business choice, since the risks are always 50/50. If you lose your investment, it will be hard to get your money back. On the other hand, if you put all your money in several properties, there are better chances to get all your money –and more– back.

Miami Riches offers a team of professionals who can guide you during the investment process and more. All you need to do is contact us!

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