Mark Tencaten | Four Ways to Make the Most Of Investing In Real Estate
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Investment
in property or real estate can be a life-changing decision, provided you give
due diligence to different factors associated with inflation and deflation in
the sector, such as locating a property below market value as well as analyzing
and assessing its financial sensibility.
Many people
across the world are fascinated by the idea of investment in property or real
estate but are unsure about where and how to begin. That is why real estate
investment expert Mark Tencaten recommends effective tips to increase
your chances of making money in real estate, especially if you are a beginner.
Here are four
considerations, as suggested by Mark Tencaten that can help you make a
happy beginning in real estate.
Passion and
Knowledge
If you don’t
like it you can’t understand it. People who are planning to make investment in
property or real estate needs to feel good about it. They need to have an eye
for beautiful and architecturally pleasing properties and the skill to acquire
them at lowest possible prices.
In addition
to passion, you can’t survive in real estate sector without possessing ample
knowledge. You should know basic but important things like what drives markets
and which things to watch out for. With this, they are always in a better
situation to recognize shifting markets before other players do and can capitalize
on the opportunities of making money.
Mark
Tencaten advises
prospective investors in property or real estate to develop the following
skills before thinking of investment in property or real estate.
·
How to identify
an under-valued property
·
How to analyze
a property for cash flow
·
Having
precise estimate of rehab costs
· Understanding different pieces at play related to owning rental property including property management duties, etc)
Patience
Pays
Patience may
sound like a simple word but it is the most difficult think to have, especially
when dealing in property and real estate. Investment in property or real estate
is associated with immense as you have to act and act fast. Investors are
constantly under pressure to deal more, deal faster, and deal cheaper.
Wisdom and
patience are two powerful tools to absorb pressure and make wise moves. You
should have a clear idea when to run fast, and when to wait and watch to let
things develop, advises real estate expert Mark Tencaten.
Looking Far
and Beyond
Investment
in property or real estate may look like a game of the numbers from the outside
but it is way more different, complicated and risky than this. While focusing
on buying cash flowing property and holding onto it for a long term has been a
common practice to ensure profits, Mark Tencaten also emphasizes on buying
and improving the assets in their portfolio in order to add value in more than
one way.
The vision
to identify a potentially profiting property and then keeping confidence in you
vision is the main differentiating factor between an average investor and the
master of the trade. Termed as the “highest and best use” in real estate
market, it refers to the concept of finding the most fruitful use for a
property and then work to achieve desired or even greater ROI from the same.
According to
Mark Tencaten, knowledge and patience in combination with efficiency are
powerful means to get most out of investment in property or real estate. But,
still new investors need to be careful and cautious before putting their money
in this market. He also offers assistance and support to those who are looking
for guidance to excel in this sector.
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