It’s all about networking!!

The most frequent questions that experts or successful real estate consultant get from most of the people are that what advice should work as a trigger as they get started in their careers. The answer is easy – the best thing you can do is network.

I think people often get the wrong impression about the concept of networking; it’s not about your presence in every industry event and grabbing as many business cards as possible. It’s about openhandedness and finding ways to help others. So when your time comes you also have people to cover your back.

One of the desired quotes on networking comes from “Mike Davidson”. At the end of day, people want to work with good people who the like. The larger your network of good friends, the more successful you’ll be.

So if we took the quote as inspiration it will be dragged that in order to build a great network you must always do the very finest you can to carry out what you said you would do, help others simply because you believe it would indirectly benefit you.

Here are some of the things that will greatly benefit you on a daily basis to strengthen your network:

Respond to 100% of the people who shoot a cold email. It doesn’t matter if it’s a family friend, bunch, undergraduate, junior colleague, or someone who found you through the blog, initiate conversation.  If anyone wants to set up a call or in person meeting to discuss his/her career, the business, or anything real estate related, always find 15 minutes in a day. In addition if you provide them with good advice, you leave a good impression, they will surely connect you with friends in the business.

Split up useful information. There are a lot of attractive articles out there which are written by experts of real estate. If you come across something that you know someone would be interested in, pass it along with your insight.

Always try to be a connector.  Try constantly introducing people that you like, to other people you think highly of, with the hopes that the introduction benefits both of them, your efforts will not go unnoticed it will give the impression that you are always a helping hand and will improve your image as a reliable person which in return boost up your leads status in real estate in Pakistan by enhancing your goody goody image.

Be social. Real estate professionals are obsessed with the business and love to talk about it. While reconnecting with colleagues, like organizing dinner or drinks with a few colleagues, or start an informal group to chat about specific aspects on the business will help them lift their mood and put things into prosperity.

At the end of day, people want to work with good people who they like. The larger your network of good friends, the more successful you’ll be. Keep doing these things for a long time and you’ll build a network that leads to deals, investors, and various business opportunities.

Invest in properties with positive cash flows!!

If you’re keen in civilizing your lot in life by becoming a property tycoon and investing your hard-earned capital into income-producing properties, there are some general tips that should increase your chances of maximizing wealth.

One of the better ways to improve your wealth is to reduce your risk on the properties you purchase. This will allow you to buy lower-risk real estate, which hopefully will earn a fair amount of wealth for you over time. Go for these:

Owning your property for a longer time span!!

The most important tool in real estate investment property in Pakistan is to keep owning it for a long time — in fact, forever is the optimistic approach. So be careful and buy quality properties that you really like for all the right reasons, and plan to own them for good. That’s your best stake to make wealth on real estate.

Grab Properties with decent quality tenants in place!!

There is nothing better than purchasing a property with a potential tenant already in place. You get the security deposit and pro-rated rent, and you don’t have to go in and clean, paint, update or fix too many things in the unit. If you buy properties in areas that have decent credit quality tenants, that’s hopefully the type of tenant you will inherit. Also take a look at the current tenant’s lease, credit application and credit report, if you can, before you make the decision to purchase the property.

Properties in very good shape!!

Skip fixers and in its place buy properties that are in as good shape as possible, which should get those rental checks coming into your bank account in as short a period as possible.

Too many people are with the perception that they’ll add value by doing a renovation. But instead they get caught in a much more costly and time consuming property than they ever expected. More money into the property means lower investment returns for you and less wealth-building than you expected.

Properties in moderately priced areas bring fruitful results!!

Real estate is all about locality, location, position! The properties in the finest locations generally have very negative cash flows, so those are the location, location, locations you want to avoid. The moderately priced properties in working-class areas are the real charm; they generally have the boring locations, but bring positive cash flows. Of course dig out any deal with conformist rents and expenses, and go for beginning year cash on cash return of at least 4 to 6 percent, based on your conservative estimates.

 Vacant areas lead to vandalism!!

Vacant places get robbed, incur damage and don’t have any rent coming in to cover the bills. If you buy in places with really high vacancy, it will lead to cover months or years before you get the property rented out at a fair rental rate. So really think through buying properties in areas with many unoccupied units.

 If you buy properties with ALL the above characteristics that will greatly increase the chances you will add wealth from your real estate ownership. So try to acquire properties that have as many of the above good qualities as possible, and skip the ones that don’t make the cut!

Grabing The Ideal Property Consultant

Guidelines to reach Your Promising property consultant!!

 Choosing the ideal property manager for your investment with more Pakistani investing in property every year there is growing demand for leading industry professionals to grip the day to day mainframe of these investments. The days are gone when dealing in property was just about receiving the rent money; currently the required Property consultants need to have  full expertise, should be well-trained, highly skilled individuals, and for those sensible investors who find the right Property Manager, they can be their best friend.

When selecting a Property Manager to take care of your investment it is of chief priority to ask questions, plenty of questions. Knowledge is power, and experience is essential. A good Property Manager should have all bases covered.

Give yourself a comprehensive tour!!

Just like an intelligent salesperson knows their core market like the back of their hand, so you too should have the full proof know how about your Property Manager. How many properties do they manage in the area? How many are similar to yours? What is the standard time on market of your chosen company? What’s the position of that company at the moment? What’s the resident demographic and community profile?

Get Attention!!

A major part in maximizing your return is getting your property seen by as many potential tenants as possible. What marketing strategies does your Property Manager adopt to promote your property? How do they grab the best quality tenants? What opportunities are available? Do they have professional photography? What record marketing do they do?

Bring appeal!!

Appearance of your property is crucially important as first impressions matter. Equally, there simple trimmings to your property could make it stand out, or be more wanted to potential residents. Querying your Property Manager for any recommendation on improvements to the presentation, or increasing its appeal could include things like adding anything & fresh coat of paint etc would be beneficial. These small changes could not only lessen vacancy times but may also improve your return.

Advertising bling!!

It’s all sound and good to have your property advertised in all the right places, but important part of the story is that what steps your Property Manager will do to make sure all those potential residents get to inspect your property? When are the open tours and appointments planned? And how long are they for? How often? In addition to usual advertised open for inspections the best Property Managers also make use of the hottest in real estate technology, programs like Inspect Real Estate; so tenants are able to choose the time they would like to check the property. This can often result in better quality tenants and lower vacancies because new tenants are sourced quickly.

Grab Me!!

Tenant selection is a giant part of ensuring your investment is well taken care of. What does your Property Manager look for in a good tenant? What kind of tenant would they advise for your property? What prototype do they believe to be more important over others?

Mr Fix-It

Preserve your investment in a good state of repair, with regular inspections, repairs and maintenance means you can possibly avoid bigger, more expensive repairs in the long run. How many usual inspections do they carry out? Do you receive a report and photos of your property’s condition? What kind of suggestions do they make? What happens if there’s an issue? Having a good Property Manager, who conducts regular routine inspections and is in constant communication with you, can mean the world of difference.