While most of us purchase real estate for our own use, there are many out there who purchase real estate with the intention of investing in the market. Real estate investment is a good way of diversifying your portfolio and also develop a steady cash flow over the years. You can plan to keep this going particularly for those retirement years where cash flow becomes difficult to come across. Real estate as a market is also less volatile than the stock market, therefore, your investment is in safer hands. If you own an investment property, you stand to benefit not just from the price appreciation on the house, but also from the rent you receive from the property. So it is a dual benefit. Many top realtors agree that investing in real estate is indeed a smart choice in today’s market conditions. However, this is not to say that there are no ups and downs in the real estate business. Like any business, there are some tips that need to be followed while investing in the real estate market as well so that you can reduce the risk factor associated with your investment. The first tip would be to treat your real estate business seriously. Many times, investors of real estate take it lightly and treat it as a side business or as a hobby. Paulette Applegarth real estate agent believes that if you treat the business casually, then you will never be able to achieve the results that you want. She says that you are doing a business after all, and hence, you should treat it like one. It is, after all, a professional undertaking. You should be well aware of your strengths and your weaknesses. Some people do something well while others excel at some other things. What is important to understand is that there is no harm in asking for help when you need it. In order to succeed, you need to identify your core strengths and your key weaknesses. This has to be done even before you go ahead with the purchase of even a single property or agree to take on any tenants. Key skills need to be taken into account as whatever your skills are, you may be able to save some money by utilizing these skills. However, any external skills that you have to call upon, will be a direct expense that will have to be built into your cash flow presumptions. Last but not the least, always have a plan in place. Before purchasing your investment properties, you should be aware of exactly how you are going to go about in renting it out. Know beforehand if you are going to be using a property manager or you will be handling the rental process yourself. Have both short-term and long-term plans and strategies in place. Have a plan in place for what you will be doing with the first rent that you receive from your rental property. Will you be using the profits from this to make a larger investment? Or will you just be content with having a single rental property and enjoy the benefits from that? Having a well-laid out goal in place helps you to achieve them faster as well. By playing the game right, there is no doubt that investing in real estate can make you richer than before and also add to your wealth over a period of time.
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It is a mandatory and fruitful choice to put the eggs in the right baskets especially when you are a real estate professional. Plenty of social marketing choices are in the market and all are outstanding in order to preserve the position in front of your business rivals. Pinterest is one of the most popular social media channels. But still, it is underutilized by the top real estate brokers. The reason behind is that they believe Pinterest isn’t an effective and money rewarding social media network. They assume Pinterest as wastage of time and money, it is not going to generate dozens of buyer and seller leads. But top real estate agents totally contradict this assumption. They say it may not be a magnet to create buyers and sellers deals. It has several hidden benefits that can provide to your real estate business. Fundamentals of Pinterest:- Realtors with lack of knowledge of this social channel consider it as wastage of time, money, efforts. First, they need to understand what Pinterest is all about and what kind of users it has.
LinkedIn is such a powerful platform and those who already using it are well aware with the ultimate results and outputs of it. No matter what business you are running, LinkedIn is one of the best helpful tools that help you to attain good rank and traffic in Google relatively quickly and free of cost. If still, you haven’t taken the advantages of all that LinkedIn offers, time to include the LinkedIn page on your business page. Real estate which was very slow in adapts social media platforms now using LinkedIn proactively to prospect for new leads and referrals in their local area. Numerous real estate agents are using LinkedIn whether they just starting out in real estate or gazing to develop their online reach as an experienced Real Estate Professional. If you are less tacky real estate broker let me tell you one very important thing that LinkedIn and Google has a very strong connection and relations. You can also call it Google friendly channel. What you can extract from this tool actually which famous as an excellent real estate lead generation tool, mentioned below:-
2. After picture perfection next, you need to concern about your public profile URL. Make sure it should be customized as short and clean URL is quite easy to share. 3. Activate Autopilot service: People who are not aware of autopilot services let me tell you it is a pain service via which when you visit other profiles they get notified of you. You can visit hundreds of profiles base on your search criteria and in return, you also get others to visit your profile and they can see what your business services have to offer. 4. Via adding a profile badge for your website or blog you can sponsor your LinkedIn presence and help grow your professional network. There are lots of options to choose and you can also configure your own profile badge. 5. Stay Up to Date with Your Connections: open, constant and clear connection with your prospects and existing clients is very important. Invest some time to keep watching others activity, what they are doing, congrats them on their birthday, work anniversary, comment on the posts etc.
While planning to invest extra money currently we have two great options: real estate or stock markets. Both are good, both have their own merits and demerits. But to make choice is a quite complex decision. Even when I need to plan for excess cash I too consider these options:- Option 1: Keep your cash in a savings account (Most traditional way and growing at the sluggish rate). Option 2: Invest in the stock market. Option 3: Invest in real estate business. Before choosing any option let’s take a look at the main characteristics which makes real estate and stock are the most tempting business. Real Estate
Stocks
Why do People Invest in Real Estate? Real estate seems tempting to invest as ROI is very high as compared with any other choices. And to make your choice, decision right there are also varied top quality real estate brokers or agents are into the market. Here we have listed down few important features to invest in real estate business:-
Absolutely answer will be yes, although it depends on how you adapt it. A perfect grouping of social channels, content marketing, email marketing, web presence may attract potential clients, build the strong relationship with existing clients and bring many more benefits. But putting collectively an appealing and successful commercial real estate marketing approach can be a complex task. And which approach will be more fruitful is also a tedious thing. Having a powerful blog or utilizing every portion of social channels are the most useful tactics used by every top realtor. Providing relevant and helpful information is the core part of inbound marketing. People will attract you, will trust you if you supply right kind of information. Building a long-lasting and lucrative reputation is tedious but once you achieved the longevity of your business is sure. I’ve put together some commercial real estate marketing techniques that can be used together to create a winning marketing strategy and Identify your relevant and targeted customers is one of the key features of it. Intensive research on your customers is important a thing comes in winning marketing strategy. Quality content is important that serve to strengthen your sales pitch, will help you market better, and steadily enhance your reputation along the way. Also, read: How Do You Use Facebook For Real Estate Marketing? Perfect content can streamline your business process and align it with your audience’s interest you simply convert potentials into deals. According to the inbound marketing, leaders should devote 30 percent time to creating and developing the content, if 70 percentage time they spend on promoting the content. Both are important creating and promoting quality and unique content. Drones are the very popular way to depict the 360-degree view of the properties that are equipped to trade. Most of the home realtors are adopting this feature to give the virtual tour of the house and neighborhood. The best thing about drone feature is that it gives them a superior experience of the possessions and changes the game in their favor. Drones become prominent as a 2017 real estate digital marketing trends and expected high-quality drones will rule the digital world of real estate. Numerous real estate companies using videos to market the residential and commercial properties. Not only it is employed to display properties but it also allows top realtors to display their services or products in a better way. You can make your properties and business stand out from the competitors. Even home sellers in USA prefer those realtors who are ready to create videos for them. Video marketing successfully holds the ground of real estate digital marketing and not only for realtors but also for buyers. The video will go on to the top of the winning real estate marketing strategies. Your web presence, online presence is the base of your every single effort. A fully fledged website may give you plenty of benefits: plentiful chances of gaining brand visibility, getting prospects, and helping lease-up efforts and drive more sales for your business. dynamic and smart look and with better functionality complete one important aspect of your website but it is also important to optimize your website for every platform, including IOS, Android, and Windows, as well as all devices like desktop, tablet, and smartphone. Seo optimized content is also a killer way to seal the deals.
It is critical to really understand the client. But an accurate way of researching and monitoring can override every issue occupy this complex business. And to attain the business goals and objectives, effective digital marketing strategies can be proved as a revolutionary tool. A comprehensive and healthy marketing strategy that can organize your marketing efforts and drive eyeballs to your website may comprise a blend of paid, earned, and owned media. choose which is suitable for you. If you’re thinking to dig into real estate industries or recently got your real estate license, indispensable things which you need to keep in your mind for a successful start of your real estate agent career are clipped here in the article. Becoming a real estate agent:
Having a license or clearing the exams isn’t enough to develop great business with high income potential. So we have developed a rigid business plan consists unsurpassed strategies from top producers around the country, to understand the business, to get the title of a top realtor or real estate agent and to set the best real estate company. We are not saying Realtor homes for sale and buy is not a good career option but intention is here to clear out everything before you getting started as a realtor. Real estate agent is one of the most rewarding job profiles with high returns. Becoming a real estate agent takes a lot of work, also the profits are miraculous. But there are various things required to be a best real estate company:- Create Plan and Focus on it:- Set up a plan, believe in you and follow them and make it happen. It’s hard but nothing is impossible say it to yourself every time. When you wake up, when you spend money, when you feel no business. Your determination, strength can make or break. Make a plan of short term goals and long term goals. Where you want to be in 1 month, 1 year, and 5 years time? What do you want to accomplish? Get acquainted with your neighbor How well you know about the properties in your location. You can join open houses; get connected with other real estate agents. It’s must for Top Realtors to get familiar with all the properties in your area before a big deal detained by your competitors. Learning Failures are the important actor to be a best real estate company While create a plan make sure you give and write the previous failures history, reason of failures and more. Top real estate agents in USA achieved this title because they not only focused on ways to be successful, but they also studied the failure of others in real estate business. Devote budget to new business. Real estate is a big business involves big income as well as big risks with big budget. Pre estimatations of your personal and business expenses are good way to know and handle to prevent yourself from digging into any uncertainties. Successful businesses make budgets and know their expenses, as well as projected revenues. Consider a Second Source of Income It’s good thing to keep you safe from any financial burden or loss. If it’s possible get involve in second job which can provide a great source of potential clients and expand your sphere of influence. Create Database of Contacts
Developing a database is also an important thing for every best real estate company. Make sure to include as much of the following as possible:
Real estate business is not everyone’s cup of tea but people, who don’t afraid of hard work, love to meet new people, love to bear challenges and risk and dedicated for the tile of top realtors, it’s only for those. A home investment is the biggest investment we ever make in our lives and we all want good returns on this investment and safety of our expensive property. Strict screening is a critical step to the success of the rental property business. Any minor or unnoticed mistake can raise massive financial loss, property spoil, and even the fall of your rental property business altogether. In this regard, I have created few red flags recommended by the top realtor that you should not to miss in tenant screening. Read cautiously to overlook these red flags so that you can place a tenant into your property more quickly and without any fear. Credit Score- Qualification and quality of a proposed tenant can be determined through his credit score. A credit score of a tenant provides a great overall view of his/ her financial situations, positions. In general, your applicants should have a credit score of 620 or higher. An applicant with a lower credit score is less qualified for your rental property. Anything below the 620 considered a red flag and should be avoided. Credit score report is mainly divided into four sections: identifying information, credit history, public records, and inquiries.
Criminal History- Apart from having a good or high credit scores, it’s also important to verify criminal background check of an aspiring tenant. Applications of Potential tenants with such history of violent crimes, sex offenses, or drug offenses, DUIs, and driving without a license or insurance you must refuse. Reconsider before placing a tenant with a criminal record or unable to follow the law in your property. To allow or deny a prospect based on criminal history varies from one state to another state. In California, you are not allowed to deny the applicants who have been crooked of certain nonviolent crimes. Eviction History- An applicant with eviction history can be the biggest red flag. Several ways are there to check the eviction history of potential tenants and a rental history background check or by doing reference checks and speaking to your potential tenant’s former landlords are the firm ways from those. Prior evictions can be a most important strike against them and its better choice to avoid renting to tenants with previous evictions. Being lying especially on paperwork-
Double check every word written on paper by an applicant to be in safe hands. Do not follow tenant’s word; ensure you are verifying everything on their application. Few things you need to verify which are mentioned in their papers:-
Play safe in renting business!! To track your business success wide range of success metrics are on hand. Apart from these huge options of success measurements what is more important to choose the metrics that can streamline any business efficiently and can stand out you from the competitors, and provide you with a competitive edge that can make it easy for you to attract more leads and make the conversion. We can easily obtain the Measurement of success by market share, business growth, numbers of transactions and total commissions earned etc. but do you think more sales or good return can evaluate your business success. Rather than focusing on sell keep an eye on your business performance, client’s satisfaction. How Frequently You Answer or Your Response Time Your frequency to answer the queries can greatly enhance your business success rate. A top realtor clearly understands and tells that availability can bring the best avenue of success. They advise all those who are new in real estate business to prepare for unpredictable schedules. Your availability and failure to answer can outline a major difference in your success. Get ready for your clients at all hours and for unpredictable schedules. Your late response time can compel potential clients to go on to next agent without a second thought. Meeting Rate This is the most ignored side of real estate lead generation. After on phone or email conversation, next to the main step is a face to face meeting. It can give you a clear picture of your clients’ needs and requirements and also establish a good relationship with your clients that can turn into successful lead. Take initiates to meet them in person as this may show the value and importance you give to your client. Spend time with your customers in order to earn more. Database quality A great way to success measurement is when your database quality matters more than its design. Your database quality can turn your every lead into a great opportunity. Make sure you’re corresponding with the fit and interested client. As efforts, time and money invested on every single client can increase your costing and with less possibility of success. Though top real estate agent in USA never ignores the importance of database designing; your database must have at least name, phone number and email address of your clients. Customer Satisfaction Make sure you deliver high-quality service to populating your funnel with value prospects. Customer reviews, testimonials, past transactions are a great way of success metrics. If your client is happy he will definitely leave the reviews, he will surely recommend others, and he will surely call you back if he has any need. The Happy and satisfied customer is your goodwill. These reviews and referrals are the easiest and great ways to calculate customer happiness. Don’t be shy to ask your client to leave the reviews. Traffic on Your Website
Your online presence also plays a vital role. A website can be a very powerful tool when done correctly, but a poorly-executed one will work against you. User-friendly with useful information are better investments in the long run because they can grow with you. To track the traffic on your website various tools are available online and Google Analytics is a most reliable tool to track the website’s traffic. Have a look on the websites of every top realtor and you will surely get the answer why visitors leave your website after viewing just one page? A perfect web presence can bring, more improved and profitable business opportunities for future. I hope after reading this article you get understands what metrics can affect your success. Also, read: How Google Analytic Help Out To Increase Your Sales We have often heard from our parents and older relatives that buying a house is one of the best investments for our old age. Even real estate professionals always try to sell the theory across that buying a house is perhaps the best investment you can make for your future. Well, even after so many years and with so many changes in the market, both home buyers and home sellers are of the opinion that buying a house is the best investment possible for securing one’s future. Let’s take a look at some of the reasons why buying a house is a good investment. An Appreciating Asset No matter what, a house is an investment that continues to appreciate over time. A house helps you through retirement times by eliminating rent or house payments once you are through paying off the mortgage. The reason it is called a good investment is that it pays you more than what you paid for it. Over the years, your house will continue to benefit from the location it is situated in, the construction work you get done in the house, the maintenance you put into it, and many more factors. At the end of the day, it will always be worth more than what home buyers spend to buy a house for. Also, read: Top 5 Things A First Time Home Buyer Needs To Know Your Choosiness Works in Your Favor According to Brian Belcher real estate agent, people tend to decide very quickly on which shares they want to invest in. Usually, the lack of time spent in thinking over this decision ends up costing them dearly. There is also the factor involved in a market crash with shares. When it comes to buying a house, home buyers burn through their weekends as well as their shoes in visiting dozens of properties before finalizing one that’s just right for them. Taking the time to choose wisely ensures that you have thought about each and every factor involved in making your house worth the money you are putting in. This also turns out to be a boon in the long run when you are looking to sell the house and ends up making you a neat profit. Easy to Invest in a House For investing in the stock market, one needs to have some sort of knowledge or do some basic research before one can get started. For investing in property, one does not need any type of specialist knowledge. One can easily also becomes a top realtor without having taken any special course on property management or house selling. Many realtors actually start off after seeing the value of their own houses soar through the roof and realizing how much money they can generate through investing in property. It's easy to Get Finance for a House
While you may think otherwise while applying for a mortgage, lenders generally tend to like financing property. Home loans are one of the biggest parts of a bank’s business models and the highest amount goes to residential properties as compared to any other asset class. These factors make it easy to borrow money for investing in a house rather than in anything else. You will Have 100% Control If you have invested in the share market, you may need to hire a broker to handle your trading for you. Furthermore, the value of your shares is depending completely on market conditions and on what is happening in the company whose shares you are holding. Investing in a house means that after you have settled down, you own 100% control of that asset and you have an influence on everything that happens related to the house. As evident, owning a house is indeed one of the best possible investment options one can opt for. It is going to definitely pay you in the long-run. California is one of the most famous states in the United States. People from around the world immediately imagine a picture of glam and glitz the minute they hear the name of California. With warm weather and sunny, beautiful beaches, California is indeed the dream state to live in the United States. The economy of the state is also well off and it is considered to be one of the best states in the US to settle down in. Los Angeles is one of the best-known cities in California and is known as a popular destination for celebrities. Many celebrities, in fact, have their residences in Los Angeles (LA) and the city of LA as well as California overall, is known for having some of the most expensive homes within the United States. According to some of the top realtors in the state, Le Belvedere tops the list of the most expensive homes in California. The house is actually a grand palace and has ten bedrooms and 14 bathrooms. Spread over an extensive area, the property has beautiful gardens as well as fantastic fountains. The home is inspired by French-style Chateaus and is built on an impressive area of 35,378 sq. ft. This home is known for its magnificent wine cellar, having a capacity to hold over 5000 bottles of wine. The cost of the Le Belvedere palace is $85,000,000. Sean Blanchette real estate agent believes that another breathtakingly expensive property in California would be The Dorothy Chandler Estate. The cost of this lavish home is $50,000,000, and many a President of the US have lived here before. The house has six bedrooms and eight bathrooms. The property is claimed to be a famous historical monument and was built in 1913. It is built in a classic American design. Situated right in the heart of the city and providing breathtaking views of the Beverly Hills, is the property address 9719 Heather Rd, Beverly Hills, CA 90210. This house has five bedrooms and eight bathrooms. It is spread over a sprawling area of approximately four acres and the total cost of this mansion is $35,000,000. The Beverly Hills Villa is another very expensive property in California. According to top realtors, the construction of the Villa was recently completed in 2017 and is located in the mountains. The house is built with features of modern architecture and has six bedrooms and 12 bathrooms. Spread over an area of 17,000 sq. ft., the highlight of the house is a wood-paneled library. The house is estimated to cost $34,995,000. Beverly Hills is a known destination for the rich and famous. So no surprise that the next expensive property is also located in Beverly Hills. The surprise is that this is the home of the iconic singer - Elvis Presley. Located amidst the mountains, 1174 N Hillcrest Rd, has three bedrooms and five bathrooms and being amongst nature, there is an abundance of sunlight that filters into each part of the property. The French residence is pegged at $30,000,000.
Chateau Phillip II is another crown jewel in the property market of California. This is truly a French castle having an infinity pool, to a gym, a game room, a theater, and a library as well. The villa has eight bedrooms and 12 bathrooms. The castle is priced at $30,000,000. Another grand mansion is located at 806 N Rodeo Dr, Beverly Hills. This has 11 bedrooms and 14 bathrooms. Built in the year 1981, the mansion is on the market for $29,995,000. Well, it seems like there is no end to the number of crazy expensive properties available in California. Whatever your budget may be, it seems like Sunny California has an answer to fit every budget. |