How do you start a real estate business without running into loss?

[Dylinks]

As a new entrepreneur venturing into Real Estate business, what are the Do's & Don't's of this lucrative business in order to avoid losses?

 

[Dubai]

Ensure you do not borrow money that you would not be able to pay back. Ensure that you use quality materials when building your real estate as well as using qualified engineers for the design and completion.

 

[kaychiz]

In as much as every business has its risk, while venturing into real estate try as much as possible to do a proper background check of all properties you intend to acquire. Also work with certified agents and surveyors.

 

[giddy]

The most common way real estate offers aprofit: It appreciates—that is, it increases in value. This is achieved in different ways for different types of property, but it is only realized in one way: through selling. However, you can increase your return on investment on a property in several ways.

 

[Kamon c4]

Real estate has wide range of specialization. It requires some level of technicality in order to excel in the business. Also you need to acquire a licensee of sale from the government in order to stay clear from lawsuits.

 

[Trexxxy]

Well first thing is to gain as much knowledge and experience as possible before venturing into the business full time. Capital is the backbone of every business venture, make sure you have enough capital. Focus and dedication too are going to be needed.

 

[Chumzy]

One thing I can say is that the aim of every business is making profit, irrespective of the business. It goes that whatever eats out of your profit should be avoided at all possible cost. The point is, if you know what you should to to avoid a loss on a particular business, then do it for real estate.

 

[Erik4150]

I think proper planning is necessary if you want to avoid losses. If you don't have experience in real estate then you should talk to real estate moguls who have experience, they can help you and show you how to avoid making mistakes that will cost you.

 

[Richard92]

The only way to start a real estate business without running at lost is by starting with a good capital because the business requires a lot of capital, and also before you start a real estate business you must be able to know how the business operate, the netigrety of the business, this help you to know the kind of properties to buy and when to sell.

 

[Sariana23]

If you want to enter the real estate world, you can start as a property manager. Now, if you have the capital, you must evaluate the land where you want to carry out the construction with the help of a surveyor and then hire the best civil engineer to attend to your proposals.

 

[Alexandoy]

If your real estate business is buying and selling houses then you have to know the accurate costing of the old house that you will buy. With the re-construction or remodeling you also need to have a good grasp of the construction business otherwise you may lose to the contractor. There are also scamming contractors who will ask for a down payment at once and would just vanish. If your business is renting our townhouses or apartments then it is the maintenance that matters most.

 

[Trojan8]

I think the most important lesson here is prioritizing quality over quantity in the type of building to work with. Also, building your brand before venturing into the business would help you in the initial stage. Always advisable to seek veterans on the industry and try to copy what they do before building your own strategies.

Post automatically merged: Jan 19, 2021

I think the most important lesson here is prioritizing quality over quantity in the type of building to work with. Also, building your brand before venturing into the business would help you in the initial stage. Always advisable to seek veterans on the industry and try to copy what they do before building your own strategies.

 

[Adexgrace]

To avoid running into loss in real estate business, one must be very cautious of people dealing with especially clients who are patronizing the business, and also one must be very careful of the financial aspect not to result into debt and cradhing of the business.

 

[Ehtisham memon]

I think real estate is a good Bussiness but every Bussiness principal is loss and profit to the Bussiness weather real estate or anything but real estate Bussiness is whose person known fully about the land and house selling and purchase so you should have knowledge and good agent in this Bussiness

 

[Koldej]

As interesting as real estate business is, I mean it can really ruin you if you don't do proper investigation nd proper business strategy, the most important thing is to never lend a money you won't be able to pay pack, real estate business requires huge capital and you need to be financially buoyant enough to some level before you start up

 

[Optimist1709]

The only thing you can do to avoid running to a loss when doing a business is to avoid some projects that doesn't have financial potential. Also endeavour to be straightforward in your approaching

 

[Adeyoola7]

Partner with a Real Estate Investor
Having a real estate investor as your partner can open gates of new opportunities for your real estate business.
So, if you find an excellent property for investment but you don't have resources to close that deal. You can find someone ready to invest money and help you in closing that deal.

 

[Mawome]

No. one step that can help you run estate business without running into loss is : asking those who are into it already before diving in fully in the business. Secondly: do what you know you can do, don't just follow after the crowd, document everything including a dime you spend on your real estate investment.

 

[joy101]

You should be ensure that you would not borrow money when starting your real estate that you can not be able to pay back, you should be ensure that you will use quality materials when building, you use qualified engineers, this is things that will help run business without loss.

 

[Ralphjoe]

Starting a real estate business doesn't mean that you will run into a loss infact that is never the case as properties doesn't depreciate in value rather they appreciates in value, this is the reason why a real estate investment is hard to make loss.

You can still run into loss though in your real estate business when you purchase a property in an area that doesn't develop. So you have to check out the area where you want to purchase a property on to know the likelihood of that place developing in the nearest future.