Beginners Real Estate Investment Tips From Guru Ali Ata
The word guru is often thrown around a little too easily but when it comes to real estate investment Ali Ata is someone who can most certainly be given this title. Ali has spent his career in real estate investment and has worked within both residential and commercial properties, with great levels of success in each. We are very fortunate that Ali has made some time in his busy schedule to help us put together this handy list of tips which anyone who is looking to get started in real estate investment should bear in mind. If this is something which you’ve been thinking about, here are some tips from the master.
Your local community may be a wonderful place to invest in, but it is also essential that you have your eyes open to the possibilities of investing elsewhere. Many fail to do this and as a result they end up staying local, because they believe that things will be easier that way. If however you are looking for real value from your investment, looking to other cities and states is the best way to do it.
It will take a number of years before you are able to amass the experience and the knowledge in this field to make big bucks, so when you begin you should look to keep it simple. One way to do that is to pick a certain property type which you are going to focus on. In doing this you will be able to learn deeply about one aspect of the market, and if you choose a commonly bought property type then you will also have much more chance of moving it on and actually begin to make money.
Remember when you are looking for a property to invest in, you are also looking at the wider community where it is situated. You should be focusing on employment opportunities, crime rates, quality of educational facilities, amenities like hospitals, banks, gyms and commercial developments, as well as focusing on what the community is like. This is essential in buying properties which people are going to want to rent or buy.
It is essential that you focus heavily on your cash flow and ensure that you always have a safety net of money which you can use for those unforeseen events. There are always things to pay out for when you own properties from cleaning fees to maintenance issues, and having all of your money tied up is not a smart idea.
Another key factor in your success will be your ability to look into trends and what buyers or renters are actually looking for. To give an example, currently many millennials who are looking to rent or buy are focussing on properties with great public transport links, spacious kitchens and garden space. These trends are often changing and it is up to you to stay on top of them.