Real estate is one of the oldest industries that is still thriving, though the rules have changed a bit. The reason why the real estate industry is still growing and will continue to grow is because of the growing world population and their needs. Not only is real estate investment safe, profitable, but it also diversifies your income portfolio. The correct choices in real estate investment can set you on a financial freedom path, while the incorrect one can become a major disaster very quickly.
Before you start your career in real estate make sure you know how much to spend, where to buy, and what to buy. You can earn through real estate in a number of ways. Below are some common ways that you, too, can use to become a successful real estate investor.
Ways to Earn through Real Estate:
1. Invest in Rental properties:
One of the most common ways to earn through real estate is by investing in rental properties. People always need a place to call home and for people coming from elsewhere rental property is their only option, especially in big cities. All you have to do is buy a property and rent it out to long term (or short term) tenants.
You can do this with both commercial property and residential property. Here it is pertinent to mention that most of the time commercial rental property is more lucrative than residential rental property.
2. Become a real estate agent:
Probably one of the easiest ways to earn through real estate is by becoming a real estate agent. Other real estate earning methods such as investing in rental properties or fix and flip real estate requires having a substantial amount of cash, however, a real estate agent does not need to have cash on hand.
The job of a real estate agent entails arranging the selling, buying or renting of houses, land, offices, or buildings for their owners. Real estate agents keep a cut out of every deal they make. Usually it is a percentage of the deal.
3. Make money by Flipping Real Estate
Flipping real estate is another way to earn money through real estate investment. Fix and flip is a specific form of real estate investing. First, you will buy a property that may not be in its best form. Once purchasing is done, the next step is to pay for repairs and renovations. Finally sell the property for profit.
Flipping real estate is a quick way to make money. The ideal fix and flip is a property that only needs sparse repair, but they are rare to find. Flipping a property requires few skills. Having a keen eye is one of them. Before flipping any property make sure you know its worth in the market and whether there is a demand for it.
4. Become an investor:
Another way of earning through real estate is by becoming an investor yourself. If you have a substantial amount of cash lying around, the best way to utilize it is by investing in a real estate property. You can either buy a plot or a house for long term investment. Once the prices go up to your liking you can sell it for huge margins.
By becoming an investor you are simply employing the buy and hold investment strategy. However, one of the disadvantages of buy and hold investment strategy is that it requires a lot of time before you can extract profit.
5. Become a property manager
Real estate managers oversee the operational aspects of commercial and residential properties. He/she is responsible for maintaining the property and taking measures to increase the value. If you decide to become a property manager for a real estate company, you will be responsible for managing the company’s diverse real estate lease portfolio and initiatives.
Other than that you will carry out market research and analysis. You will be going through trends, competition reports, and general site information that will give you your firm edge in the market. To become a real estate manager, communication skills and analytical skills are very important.
You will be dealing with people of different status such as property owners, staff, blue collar workers and tenants. So make sure you know what you are opting for.
Make money through Real Estate in Islamabad:
Real estate in Islamabad is a growing sector. New societies and schemes are being churned out at a rapid speed. Some of the housing schemes and societies that are in high demand are Park view city, Silver city, Royal residencia, and Nova city Islamabad. Detail information about these societies and how you can dip your toes in them is explained below:
1. Park View City Islamabad:
Park view city is located in the majestic hilly areas of Islamabad. The botanical garden surrounding is an added advantage. Park View City Islamabad is the only society with CDA NOC in Zone IV of Islamabad. Out of the explained options you can either be a real estate agent, investor, or real estate manager.
To access Park view city location, Click Here
2. Silver city Islamabad:
Another thriving housing scheme is Silver City. Silver city is a gated community located at Girja Road Rawalpindi, near Thalian Interchange. Their 4 year payment plan is available for 3.5 marla, 5 marla, 8 marla, 10 marla, and 1 kanal plot. Silver city is relatively cheaper than the others. You can become an investor in Silver city Islamabad with a minimum amount of Rs. 750,000.
Other than an investor, you can also become a real estate agent, a landlord, or a real estate manager.
To access Silver city location, Click Here
3. Royal Residencia Islamabad:
Royal residencia Islamabad is located near the vital CDA Sectors 1-14, I-15, and I-16. It is located between twin cities of Islamabad and Rawalpindi. Just like other societies you have the option of becoming an investor, real estate manager, landlord, or real estate agent.
Royal Residencia’s payment plan is available for 5 marla, 7 marla, 10 marla, 14 marla, 1 kanal plot, 2 kanal, 4 kanal, and 8 kanal plot.
To access Royal Residencia Map, Click Here
4. Nova city Islamabad:
Nova city is located near the CPEC route, Fateh Jang Road, and Rawalpindi Ring Road. Their payment plan is available for 5 marla, 8 marla, 10 marla, 14 marla, 1 kanal plot, and 2 kanal plot. If you are thinking of becoming a real estate agent of Nova city Islamabad, make sure you are familiar with their terms and conditions.
You can also become an investor and rent out your properties. However, for this, you will need cash on hand to buy the property.
To access Nova city Islamabad location and map, Click Here
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