Tips for beginners in real estate investment - Colombo, Sri Lanka

If you are a novice property investor looking for information on investment properties for beginners, this article should help make your life easier. It details eight tips that will help you in your quest to become a landlord.

1. Don't believe the hype. It doesn't matter if it is negative or positive hype about investing in property; do not take anything at face value. Always consider whether the person or media that is putting out the story might have ulterior motives. Anyone interesting in selling you property or property products will only talk about the positives and the value of investing in property. The media likes to sensationalise the negatives, because that is what sells newspapers. You have to look at the evidence and seek impartial advice and make up your own mind.

2. You have to believe. You have to have a belief that you can make money from property. At times it can seem as though the property investing World is already saturated with people more experienced than you. You have to believe that there is room for you as well. If you start off with negative self belief then you are on a slippery slope to failure and before you know it you will be another one of those that have "tried" property investing, but found that there was no money in it.

3. Decide why you want to invest and formulate a strategy around this reason. Being clear why you want to invest in property can create compelling reasons that will push you forward towards your goals, even when things are not going well. Once you know why you are investing you can then build a clear strategy based around what your goals and aims are.

4. Research and make sure the figures add up. Don't just dive into investing in a location because you have heard a rumour on a forum that it "might" be the next property hot spot. You need to do your research and your own due diligence. It will be hard work to begin with and it might take you several months to find the right location and the right type of property, but after that you can probably continue to invest in the same location for several years, so the initial hard work is well worth it and should pay off in the end.

5. It's a numbers game. You have to be prepared to look at hundreds of properties to find a deal that meets your criteria and that corresponds with the strategy you have set out. This doesn't necessarily mean making hundreds of phone calls a month to different estate agents or vendors. You might achieve your goal by simply browsing the local newspaper which normally has at least a couple of hundred properties in, although a more proactive method is usually needed to be really successfully.

6. Have effective exit strategies in place. One of the main reasons many beginners fail in their efforts to become professional property investors or developers, is that they don't have exit strategies in place. You need to know what route you are going to take to get out of a deal if things do not go according to plan. You also need to have an idea of how you are going to off load the property in the long run, if you don't plan to hold onto it forever.

7. Take a long term view. Successful property investors take a long term view of the property market. Many of the budding investors that have failed, have failed because they wanted to make a quick buck. If you are serious about learning how to become a landlord and being financially independent, then you have to take a long term view. This will help minimise your risk and will stop you from wanting to bail out if the property market goes through a bad patch.

8. Be careful of using property investment companies. There are a host of companies that claim to be able to buy investment properties for beginners, so that novices don't have to do any of the work themselves. Some of these companies are good, many are terrible and a few are crooks. I would advise you to learn the basics about what equates to a good property investment first, before you trust others to buy investment property for you. That way you can access the properties that they put in front of you and you will be able to tell if they are good or not, without being totally reliant on what the investment companies tell you.

If you are a beginner to making money from property, then by following the tips laid out here, you should be more equipped to go out and start hunting for those bargain properties. Keep in mind that people progress at different speeds and don't get caught up in the thought that if you don't become a millionaire in one month through property, then it's not going to happen.

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Top 3 Commercial Real Estate Property Types - Niche Commercial Real Estate Types

Commercial real estate covers a diverse group of structure types and uses, as well as vacant land. Learn specifics about some of the most common ones here.

These categories are discussing the sale of "real property", the land and/or buildings. Though business owners frequently sell their business entity together with the real estate, the valuation of the business enterprise itself is not treated in this discussion.

1. Multi-Family Commercial Real Estate

Multi-family commercial real estate property types include duplex homes, and other construction for habitation by mulitple family groups. Condominiums are frequently called multi-family because of their construction as a group, but are normally listed and sold as single family residential units. Duplex homes are also frequently listed and sold as residential units to a buyer that lives in one side and rents out the other.

2. Retail Space Real Estate Properties

This category would include single buildings used as stores for clothing, electronics and other consumer products, as well as malls, strip centers and the like. Restaurant spaces are a specialty subset of the retail category, with some listings shown as restaurant/retail. Valuations can be based on size and land value, retail sales per square foot or other investment return calculations.

3. Office Buildings and Office Complexes

A single building designed for office use, or a group of offices in a single building or cluster of buildings would fall into this category. When offices are grouped in structures with single ownership, they are listed as commercial office rental property. The owner derives income from the rental payments of the office tenants. These can be valued based on the rental income return on investment, rather than methods using square footage and land value. Medical & Dental offices are a subset.

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Property Investment for Beginners

Traditionally, one of the best high return investment options has been investment of money in real estate. While the property prices may go up and down in the short term, over the long term, they have always appreciated substantially. The ownership of a piece of land is an investment you can eventually bank upon, as it acquires value through development of the areas in its vicinity. With the falling of property prices, many people will advise you to stay away from investing in real estate. However, if you look at it from a different perspective, you will see opportunity in this situation.

Properties which were once beyond your budget reach are suddenly within your range. For those of you who have been smart enough to save money throughout the past bearish decade, now is the time to invest and take advantage of the opportunity, which has presented itself. In this Buzzle article, I shall share some tips on real estate investment for those of you, who are smart enough to recognize the opportunity this recessionary background has presented.

Tips for Property Investment

Any investment comes with its share of risks, which cannot be entirely eliminated but lessened through research and planning. Same goes with real estate investment. You have to do your homework and get your research right to end up on the winning side. Here are some tips for beginners.

Know about the Range of Real Estate Investment Options

Firstly, you need to begin with a study of the varied range of investment options in real estate, which you may consider. You may invest in buying residential houses, commercial properties, condos, apartments or purely specialize in land investment. There are a lot of options out there and you need to consider the entire range, to decide which would ideally suit your investment budget and align with your future plans.

Invest to Sell or Invest to Rent out Properties

There is the important decision of deciding whether you buy to rent or buy to sell again for a profit. The former option is open, if you buy residential properties. You can create a regular income source for yourself by investing in rental property.

Otherwise, you also have the option of entering the house flipping business, which is buying old houses, renovating them and selling them back again for profit. You may buy a piece of commercial property, hold it till the prices rise and sell it to make a substantial profit.

It's All About Location

Remember when it comes to property investment, it's all about location. The price of any real estate property is largely a function of location. The localities decide the price range and therefore you need to research the price trends according to location, before you make a purchase.

Research & Do the Math

Once you have decided on what kind of property you plan to buy, what purpose you intend to buy it for and are clear about the amount of money you are willing to spend, start researching real estate listings to find properties that fit the bill. Calculate the returns you plan to gain from the investment and the amount of mortgage loans you can afford to apply for.

Networking With Real Estate Agents

A real estate agent can make your job easier in finding properties that are exactly what you are looking for. Creating a good network of real estate agents who can point you towards good investment properties is essential. Real estate brokers can handle the legal affairs associated with purchase and sale of property for you. They can make an offer to owners on your behalf and negotiate on your behalf.

Making Financial Arrangements for the Investment

Once you have decided on the property and made an offer, you need to arrange for the money you plan to invest. A pooling up of your own savings and a mortgage loan if needed can cover the total investment amount. Talk to financial institutions and mortgage brokers for financing options.

The key to making good investment decisions in real estate lies in research. For a property, the location is the most important aspect of consideration and all other points come later. Good location, with access to resources in its vicinity, creates an opportunity for eventual growth of property value. With a pooling in of your own savings and a mortgage loan, you can buy strategically located properties and rent them to generate revenue, or sell them as the prices appreciate substantially. You can't eliminate risk, but minimize it by putting your money into properties with high potential of price appreciation. Get a good real estate agent to advise you and a mortgage broker to assist you in the arrangement of finance.

Buy Properties in Sri Lanka - Fantastic Investment To Make

Colombo has turned to be among the famous travel destinations in Sri Lanka due to its exotic beauty. The beautiful urban centers found in the country plus its pleasing climate conditions have made it much more perfect to build different properties like getaway houses, retirement houses or possibly housing expenditure. Because of this, a lot of residents as well as foreign people have decided on to buy property in Sri Lanka rather than various other countries. The reason behind this effort can either be for personal or business enterprise goal. A lot of buyers have considered the nation as good destinations to begin a property business due to its excellent places. They are considered to be hot destinations throughout holidays.

Colombo is turning out to be even more admired for the reason of its outstandingly structured buildings and we can realize its popularity by the fact that it is the most peopled and the biggest city in the Sri Lanka. Colombo has a fast growing and stable economy and it is the reason which makes Sri Lanka property and other businesses a hot marketplace all around the world and it is the core factor to draw the attention of the global businessmen make a move towards colombo.

Properties in SriLanka are a huge and secure way of investment. There is one concern of some of the investors who are interested in looking at the dark sides of the prospect investment, and they think that there are too many projects in Colombo and it could be disturbance in the balance as the availability of the properties in Sri Lanka may surpass the number of actual buyers and it will bring the prices down of the property.

People who want to buyProperty Sri Lanka are likely to experience countless of benefits from the government. You can find numerous improvements carried out within the town specifically regarding infrastructure for added comfort. The government has also given excellent rewards to buyers which these business people could reap some benefits. Despite the fact that almost all ventures are connected with pitfalls, the possibilities you might have fun with in Morocco are thought to always be unrestricted. It may possibly signify a fantastic return on investment.

Krrish Square is one of the biggest projects of the krrish Colombo in Sri Lanka. This prestigious high-rise project spread over a massive 4.3 acres is a mixed-use complex, brought to Sri Lanka by the Krrish Group. Architecturally and technologically superior, Krrish Square has been envisaged as a vertical city. Made up of four statuesque towers, it will house commercial office spaces, elite residences, high-end retail and super deluxe hotel accommodation. This landmark development will include the refurbished heritage hotel in the existing Transworks Square building. With world-class facilities Krrish Square can easily be positioned as extravagantly elegant and breathtakingly lavish. Furthermore, Krrish Square is set to redefine exclusivity with a special Club Lounge, a state-of-the-art Business Centre with unobtrusive services and an indulgent Spa for you to relax and invigorate in.