9 Proven tips to help find success in Real Estate

Real Estate in the U.S is considered an effective way to build wealth.  For many homeowners, long-term value and property appreciate translating into wealth creation.

The following tips from Hirsh Mohindra may help investors find success and long-term value in Real Estate investing.

Build an effective website: In the internet era, web appearance plays an important role in business. In real estate 90% of tenants and investors start their search online. That means you can directly attract maximum tenants and investors through an informative website having great photos of your properties.

 Invest in short-term rentals: the short term rentals is one of the fastest growing sectors in the real estate field. This is a solid choice for investors looking for healthy returns. With short term rentals, properties are rented for less than 30 days – but at higher rates than longer rentals,  and can bring in greater returns than long term rental property.

real estate business

Calculate transaction costs to save money: Take transaction costs in account when you buy or sell the property. This will help you to calculate your total benefit, and will help mitigate for unknown expenses and operational costs.

 Become a trainer and mentor: if you are experienced in the real estate field, you might have the opportunity to become a trainer. You can write a book, provide a training program and charge people for your knowledge.  While this option is reserved for those with a proven track-record and considerable experience, it is something that can provide lasting income and permit you to leverage your skillset.

Invest in flipping houses: Real estate professionals find undervalued houses, and either find tenants, or make repairs and put it back on the market for profit. Home flipping can be profitable, but it requires timing, good locations, and strong demands.  Sourcing the ideal property to move on oftentimes requires the most effort.

 Become a short-term property manager: Short term property management is a growing industry. This industry provides a good opportunity for the agent and property managers to make extra money. In this field, you have to post a listing and manage guests on the behalf of landlords.  Many property managers are managing Airbnb properties.

    7.    Invest in cities with future growth: Hirsh Mohindra’s blog often provides regional market data.  Make sure to check out that resource and others to stay on top of trends and real estate news for specific geographies and markets.

    8.    Rent and Purchase multi-family apartments: One of the beautiful things about real-estate business is that you can choose more than one strategy to maximize your profit. Multi-family apartments are building with more than one rental spaces. You can gain monthly income by renting to tenants.

    9.    Vacation rentals:  Tourist hotbeds like Los Angeles, New York, and Las Vegas, etc are always on high demand for short vacations. You need to purchase a house in a popular tourist place and engage the services of a good property manager.

Wrapping-up:

Real Estate is a good platform to increase your income. With some guidance and lots of research and hard work, you can find success. For more useful tips and strategy you can follow Hirsh Mohindra’s blog.

Millennials Are Affecting The Price of Your Home. Here’s how?

Younger Americans are purchasing houses far less often than older generations and that puts a great sector of the U.S. wealth at risk.

It used to be that everybody sought to purchase a home, seeking delight and safety, as well as the probable for future prosperity. However, younger Americans are purchasing homes far fewer than past generations, and that puts a huge part of the U.S. economy at risk says Hirsh Mohindra.

Millennial homeownership levels are dramatically lower than those of previous generations at a similar age. In 1985, 50% of people (age limit between 25 to 34) owned a residence in the US and by 2015, this had dropped about 25%. Since the housing market presently accounts for 15 to 18% of the country’s gross familial product, any alteration in established activities could have considerable consequences on the larger macroeconomic perspective.

Many researchers are becoming increasingly concerned that the future of the US economy will be impacted by how millennials actions are changing the real estate market. According to some researchers, both the increase and decrease in home costs can be directly correlated to where millennials decide to live.

If a long-term behavioral modification is going on and this age demographic continues to not purchase houses, it will impact the GDP. Moreover, the young generations lag behind their prior generations in terms of milestones like homeownership and weddings, which are currently key metrics when evaluating the health of the overall economy. Previous generations built considerable equity in their homes, this asset served a powerful wealth generation tool and provided a modicum of stability, says Hirsh Mohindra.

Millennials

Despite the decrease in homeownership amongst younger generations, alternative real estate markets have flourished. Ultimately, millennials still require housing.  And while a good portion of millennials tends to live in their parents’ homes longer, a good deal of millennials are long term renters – which is adding a positive impact to the overall residential rental market, says Hirsh Mohindra.

In addition, millennials have embraced long term housing accommodations provided through companies such as Air BnB and other similarly situated companies.  This shift in housing personality has cultivated the growth of the long-term temporary housing markets.  Air BnB has grown significantly and has an impressive market capitalization – which has been reported to exceed $31 billion in 2018.

So while changing housing desires and needs may impact the housing market, those same changes are creating new market opportunities that are positively impacting the overall economy.