If you want to start investing in real estate then we have some great tips for you which can help you to ensure that you make the best success from your investment. Ali Ata has spent our 30 years in the real estate industry from real estate agent to investor and he has learned a vast amount during his career which he wants to pass on to anyone out there looking to get started in real estate investment. I asked Ali what his top tips would be for those investing in real estate, and here is what he had to say.
Something which Ali says many real estate investors overlook is the wider community when they are buying property, particularly crime rates. This stands to reason of course that someone who is buying a home for their family is going to want to live in a great community and not just a great property. When you find a property that fits in with what you are looking for, you then need to look outside the property to the wider community in terms of amenities, safety and other important aspects.
Crossing State Lines
Something which Ali spoke at length about was that many investors don’t look beyond their own locality when they start investing. Whilst this makes sense given that an investor is going to feel much more comfortable in their own neighborhood or city, there can be a lot of value to be found if you look further afield.
Ali is a big fan of looking for new and burgeoning communities that will grow in the coming years and he recommends that you also learn about how you can leverage this to find more success. Keep your eyes on the news to see if there are large scale projects taking place which are going to attract a lot of investment and jobs into a certain area. This can give you the upper hand and buying properties in these areas can give you a great deal of value.
Fix It First Time
Ali concedes that he has made oversights throughout his investment career and one of those was not repairing something in a property of his prior to renting it out. Because of this one of his big tips is that if you buy a property and there are things to fix, get them done before you even consider renting out the property. Failure to do this could easily come back and bite you at a later date, which is why it is so important to get it out of the way first.
The final tip which Ali gave was to understand customer trends and what types of property are the easiest to sell and rent. Once you are able to grasp the customer trends you are going to be in a much better position to make your investment really work for you.