What are the principles of real estate investing
Knowing how to study the market:
One of the most important factors for successful real estate investment is studying the market and knowing the requirements of landlords, residents, and other factors affecting your investment or property.
And the method of choosing the property that will return you the desired profits, whether monthly or annually
It is very important to know that it will not change or be adversely affected by its price until it is sold
It is known that real estate prices vary from time to time and from summer to winter, up and down
It is affected by laws, supply and demand, so we recommend that you monitor the previous state of the market and its movement and monitor it now
In the event that there are new factors affecting the property or the area in which the property is to be purchased
And new laws if they appear so that you know how to act quickly if laws are issued that conflict with your investment.
It is important and useful for you to study the price pattern of the property you wish to purchase
Is it on the increase, decline, stability, or even it is possible that it has reached its true peak in its price?
2- Price study:
First of all, you must not buy the first property that the owners of real estate companies will convince you of
(Yes, most real estate companies are credible and will not try to cheat you, but they will only try to speed up the sale process. Ask them to offer you more options.
Perhaps, in your opinion, this other property suits you in its area, or it is like a better property and at the same price, and this company considers it to be similar in terms of return on investment and space)
So don't let the decision be made just because it fits the amount you have
3- Choose the target class:
It is very important to know which class of society you want to invest in real estate
Are they the middle class looking for a property with simple specific details or the wealthy class who would like a spacious property with more features?
4- Select your investment type
Will you invest in buying and keeping land, or will you build on it, or will you buy ready-made real estate, whether residential or commercial, and will you sell the property or rent it out?
You must know the price of a property similar to your property, with the same specifications and the same area, so that you know the real price of the property
6- Knowing the defects and advantages of the property:
It is important to show the house to an expert before purchasing it, to see if there are hidden defects in the property, such as plumbing or electricity
Some take advantage of ordinary people’s lack of knowledge of these matters and buy a property at a very low price because it contains hidden problems and defects.
No one can explore it and offer it at an attractive price, and this is only discovered after purchase, unfortunately.