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How to make weath in Real Estate
Making money with real estate is one of the most tried and tested method since years.By investing in real estate you not only secure your future but it can really help you in building a fortune for your family. If you are a beginner in real estate filed and want to make some decent profits then you need to know some facts before you crack your first deal.
The field of real estate is just not limited to buying and selling of properties. You can earn some real quick money by leasing and renting residential and commercial properties to prospective clients. To begin as a good real estate agent, you first need to start a small enterprise however it requires minimum or no investment at all. Then you need to develop your personal network with prospective builders and property developers. This will help you in guiding your clients to the perfect property they are looking for. You can also check for foreclosure properties with financial institutions or banks as they offer lucrative deals to clients about forty to fifty percent lower than the market price. You can also come across various other foreclosure properties in newspaper, magazine and also in registrar office. Your job does not end only by suggesting or guiding your clients to the property of their choice but also from personally taking your clients for property visits guide them through the entire property tour, co-ordinate their requirements with the builder and help then through the entire property registration process.
Developing a personal rapport with client is extremely important as it will develop your clientele. The money that you would be making in the entire process can be anything between 2% to 3% of the property value. That works out a whopping amount to encourage you to do some more business. This can be very big accomplishment as a beginner. As you climb the ladder of success and make money in real estate field. You can also buy properties through foreclosures or foreclosure auctions which are usually dirt cheap and then eventually sell it at the market price. Suck deals can give you a straight profit of 50% to 60% straight. However this scenario can be much later when you establish your self in real estate and get to know the basis of trick and trades of this business.
As a beginner you have a vast market for cracking deals for new properties, leasing and also renting properties. This shall help you build your network and develop contacts which can be extremely helpful in the future. Always remember that in this market word of mouth plays a very important role so make sure you give excellent service to each of your client and understand each ones taste and preferences.