A guide to the real estate business
This means that the role of real estate agents is more important than ever. On this blog, there are many resources about the work of real estate agents and how to run a successful business in the modern real estate market.
Becoming a Real Estate Agent
29 Jul 2021
People will often choose to become a real estate agent to generate a lot of revenue. This can be achieved by following a number of steps. It will usually involve temping for successful agents, joining a team, and learning how to attain a license in their local area.
How to Vet Potential Renters
5 Feb 2020
Choosing the wrong renter can give you lots of long-term headaches and problems. Wise property owners avoid these potential problems by vetting their potential renters carefully in the first place. Make sure to ask the right questions when you first meet to get to know as much as possible about him.
Finding a commercial property
11 Nov 2019
Commercial Real Estate tends to be more challenging to real estate professionals, due to the numerous considerations that need to be taken into account. Commercial properties are valued in a different way from residential properties, and also come with bigger cash flows.
Amongst the things to take into consideration when evaluating a commercial property are:
Net Operating Income – calculated by subtracting the operating expenses for the first year from the property’s gross operating income for that same year.
Cap Rate - used to calculate the value of properties that generate income, such as commercial office buildings or shopping malls.
Cash on Cash – this metric is used to calculate the rate of return on the property based on the cash invested in it.
Apart from these metrics, a commercial real estate professional has to have a very in-depth knowledge of the local scenario. Every industry tends to have its main ‘hub’ within a city and country; for example, online gambling companies tend to seek for offices within the same district, whereas financial firms will be clustered in another area of town. Property prices will be higher in these areas, which is why it’s essential to build good relationships with property owners, to have a greater chance of landing a good deal!
Generate Income from Rental Properties
15 Oct 2019
If you are new to the real estate business, the easiest way to get started is through rental properties. Instead of putting your idle cash in the bank, purchase some centric properties, offer them for rentals, and collect the monthly payments while focusing on your other important businesses.