Friday, March 1, 2019

How to Build Your Real Estate Portfolio

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Imagine this:

You are married now, your family is growing and wanted to build a homestead;

You already dabbled in the stock market, foreign exchange and cryptocurrency trading;

You ask these questions?

Are you ready to build your real estate portfolio?

For many of our previous clients we ask this following questions:


1. What is your purpose or goal for a real estate property? 

For real estate investor this is our first question we as real estate broker / real estate salesperson(s) ask and would like to know in their intended use of the property. This could be used as a apartment rental or residential condominium to be used as rental / Airbnb or a vacant commercial lot to be used for leasing for intended in business purposes like a fuel station, fastfood restaurants, industrial warehouses or as a residential home in the suburbs as your primary homestead. These are just some examples of  why you want to buy a property.

2. Location of the property?

Real Estate professionals ask preferred location to client, so that they can narrow down their search. However, if the seller has no inventory or it is not in their listings they can usually contact their broker's network or have Multiple Listing System (MLS) / Property Listing System (PLS) to ask for available listing with buyer's particulars and preferences.


3. How much is your working figure or budget for a real estate property?

As real estate professional, setting some realistic figures would the help us help you finding the right property for you at the price limit set. Let say, the buyers are looking for a P 5,000,000 two-storey house and lot. The broker or agent would look in his / her inventory for that particular properties prioritizing a limit say P 4,000,000 up to P 5,000,000.00.

4. Know the Pros and Cons of Owning Real Estate

Buyer should do his /her research before buying a property.  Remember that land values rise and not the house itself. Homes are prone to deterioration over the years if it is not maintained. There can be improvements from repainting of walls, plumbing, renovations can help in raising the value a bit but it cost cost money over time. If the home is not rehabilitated it could lose it's value over time and real estate appraisers know this term called depreciation.

5. Look for real estate professionals to assists you 

If you are encountering someone who sells properties be sure to ask if  the seller are licensed broker or salesperson. The Professional Regulations Commission (PRC) and Housing and Land Use Regulatory Board (HLURB). Recently have release memorandum on apprehending fake or unlicensed real estate agents and are very strict with their guidelines and policies adhering to Republic Act 9646 also known as Real Estate Act of 2009. You can always ask them for their credentials.
 
Conclusions

A client's cooperation and patience is required in this tedious process of finding the right property. It might take time to find one but it is worth it in finding something like a hidden gem unearthed from a mine. By doing this you can easily help real estate professionals in finding your preferred properties. 

We have professionally trained licensed real estate brokers and salespersons to assist you on your quest of building your personal investment portfolio through real estate acquisition. 

Let C. F. Baluyut Realty be your partner in your next real estate acquisition.

For more information, you may visit our website at www.cfbaluyutrealty.com or call us at (+63917) 510-0734 (Globe / Viber / Whatsapp / Botim) or (+63928) 504-6781 (Smart / Viber)

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