Are you thinking of going into real estate investment? If you are still on the fence about this, you might as well ponder on several important points before you take the plunge. Suffice to say, the industry is not as strong as it used to be. But this does not mean you can no longer earn from it. All you need are the right methods so you can grow in this lucrative industry without sweating it much.
First of all, the nationwide sales price has dropped to 27%. This measurably large amount of figure can be translated to a median of $177,000. One might argue that such figures can not encourage new realtors to venture into this business. But a sample real estate investing business plan that looks into other aspects of the industry can entice anyone to go for this career.
There is more to property investment than simply buying and selling properties, brokering deals between sellers and buyers or being an intermediary in the industry. In fact, buying and selling is not the only option for people in the market. One usually ignored possibility is renting.
Currently, annual rental rates are at 2.5%. On the other hand, mortgage rates are at 5%. This discrepancy underscores that fact that renting now is a more viable option. If you focus on this basic nugget, you can entice more property investors to take advantage of this current trend. A sample real estate investing business plan that includes a comparison of annual rental rates and mortgage rates will undoubtedly get investors glued to what you can offer.
Another important trend that you can capitalize on is in the decline of people interested in property investment. At first glance this can be an odd advantage to focus on. But come to think of it, the 21.4% decrease in realtor membership means less people to compete with. The primary reason why the industry is seeing this decline is the fall in the earning potential. But as stated above, making the most in this business today entails focusing on other property investment opportunities.
Of course building a team with the same outlook and enthusiasm about the current situation may not be easy. But with a sample real estate investing business plan, that highlights the potential income and the lower competition, you can get people on board your team. More than 50% of individuals venturing in the real estate industry fall under sales agent status. These are sales professionals who do not have a broker license but can sell property under your team. Furthermore, do think of the fact that many of them do this on a part time basis only.
Current trends do not look promising and in fact, it can be discouraging to some. But with the right mindset and focus, one can turn something dismal into something truly productive. A sample real estate investing business plan covers more than just potential income. Rather, it emphasizes on the possibilities that people overlook which are pivotal in business success.
Andrew Thomas is Managing Director and Story Teller at ZipBrands He has studied the Real Estate Business for years. He enjoys connecting with people, keeping updated with latest in the field of Real Estate and Business etc. He has also discovered great shortcuts that can help investors make better decisions when it comes to buying and selling. His work across multiple disciplines broadly addresses narratives of human experience. You can follow him on facebook also.
James is a blogger who loves to explore new things. His passion for helping people in all aspects of daily things flows through in the respected industries coverage he provides.