- 6 Tips To Strengthen Your Real Estate PortfolioJuly 29, 2018
Real estate is long hailed as a lucrative investment option. And hence, having a strong investment portfolio with an impressive mention of real estate assets is all the more helpful for a commendable financial growth.
Check the below guidelines on how to maintain a strong real estate portfolio.
1. Evaluate your finances
Doing a cost analysis after listing all the assets will give you an estimate if how much budget you can allocate for real estate investment. It is advised to keep aside around 25-30 per cent for garnering profits from real estate investment.
2. Expert opinion
Seeking the help of a financial planner or consultant or a chartered accountant will guide you regarding the tax implications of real estate investment and the key steps in maintaining a balanced investment.
3. Property type
Planning an appropriate investment strategy according to the property type is crucial in maximising the output. Be it a raw land, residential property or commercial space, it is wise to identify the core reason for investment among rental returns, capital appreciation or tax benefits.
4. Assessing location and property
Research on the location and property through site visits or online real estate portals. It is also recommended to consider factors like price trends in an area, resale price and the scope of price appreciation.
5. Start small
Experts advise to start small in the beginning to minimise the risk involved and as small properties are easy to maintain, it will require less capital for down payment.
6. Investment duration
Decide whether a short-term or long-term investment is ideal depending upon the goals, real estate experience and available finance Also, long-term investments are expected to build the portfolio while also enabling you to become financially independent.
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