10 Tips for New Real Estate Investors 2014

Many property investors today want to add real estate to their investment portfolios, but they don’t understand the complex nuances of real estate property investing in India or how to begin the process. Real estate property investing in India is substantially different from investing in stocks, bonds, and CDs, and it can seem overwhelming to brand-new investors.

1. Real estate property investing in India is a business, and you should treat it as such. Start by developing a good business plan, detailing the nuances of starting and running your business, with realistic goals over time frames of one, three, five and 10 years.
2. Check your credit report to determine your ability to finance investment property.
3. Find a good bank or mortgage broker in your area if you’re financing your investments. Real estate agents who belong to the National Association of Realtors and must adhere to a code of ethics are good sources for recommendations, or you can ask other investors whom they’ve used.
4. Determine the best areas to look for real estate properties investment. Some new property buyer and seller make the mistake of limiting their search to areas close to their property. But often better rental areas may be located a little further away.
5. Talk with other real estate investors about local real estate industry. Join a real estate club in your area. Real estate clubs are great places to network with other investors, lenders, and repair service providers.
6. Consider multiple sources for buying or selling real estate properties. New investors may think they can only buy or selling homes through their local Multiple Listing Service, or by banging on doors in run-down neighborhoods looking for distressed sellers.
7. Spend time reading about real estate property investing market.  A tremendous amount of free information exists today online about real estate property investing. When purchasing a book, look for those that offer practical guides on buying, flipping, renting, and selling properties.
8. Find a good Realtor to help you locate properties. Not all Realtors are experienced or even adept at helping investors.
9. Look for a return greater than 1% per month of the sales price. An old maxim of real estate expert says that a rental property yielding 1% of the sales price per month is a good deal.
10. Learn from the best. To achieve success, model your investing decisions over what other successful real estate property investors in your area have done.