>> Friends, Real estate is such a word that you must have read or heard many or the others. The simple meaning of Real Estate Business is to do the business of selling land or house. In which there is a deal in management operation or investment, go to Delhi, Mumbai, New York, Hong Kong or any other in the world where you will get to see Real Estate Business. From one BHK Flats of 10 to 20 lakhs to apartments of billions of dollars, real estate has become a business of crores of dollars.
>> In the real estate house are being built keeping in mind the needs and comforts of the people. It has every facility like gym, swimming pool, golf course, mini shopping complex, Medical Facility, Clubs, Sports area makes you feel rich. Whenever you go to the city you see big building they are part of all real estate in which apartments, shopping complexes all these are available.
>> By 2019, the Indian real estate business had crossed $6 Billion and continues to grow and today Prostar Support will tell you in full detail How to Start Real Estate Business Step by Step.
Create Effective Ideas
>> Real estate is one such field where there is a lot of competition. You go to any city you will definitely see someone doing this business. If you want to success in this field then you have to identify your strength, your weakness and your interest. and the most important thing in real estate business is.
Find a Good Location
>> Choose a place where you are able to convey to the people that if they invest in property, purchase land or take flat or apartment then what will be facility they will get and then why they should buy your property. There should be answers to many questions so that they can be happy and for this you will have to research that where others builders and real estate developers have worked, where they are working and what is there response among the public.
>> And apart from this what type of customer do you want to make your buyer. Your success rate also depend a lot on whether you want to give to middle class their dream home or a status symbol for the upper class. You have to go ahead with the same idea and get the construction done.
Don't Work Without Planning
>> Working without planning means failure, no matter how small the business or bit business is if there is investment in it then there should be a solid plan to convert in into profit its the same with real estate business. And it is not like a opening a tea shop that you are drinking tea worth 10 rupees. That's why project handling to construction, insurance, delivery, to management every time you have as much customer such. That is why you should have this thing in your plan as in.
1. Do Market Research
>> What kind of people do you want to serve in your business, what is segment of your product, geographic location and what are the requirements of the people you want to fulfill and all these should be documented with you show that you can tell your purpose and a you should visit the real estate project on the customer's side. Bring a real estate booklet so that you can get a brief idea of what and what services the competitor are providing.
2. Make a Sales and Marketing Plan
>> What are you doing different in your real estate business, Why are you different from others, how do you do your marketing and how will your product sell and for this you will need a professional team and a good marketing plan.
3. Make a Management Plan
>> It is not difficult to reach height but it is challenging to stay there it is the same with real estate. Prepare your own project and people bought it too but its management maintenance will divert your success rate on these things a lot and for this also you will have to recruit people so that all your things can be taken care of which will also have legal problems.
4. Make a Financial Plan
>> To Finance or manage your investment in real estate there are three essential financial documents to be had.
- Income Statement
- Balance Sheet
- Cash Flow Statement
5. Hire a Lawyer Right From the Start of the Project
>> Hire a Lawyer right from the beginning of the project yes it is very important. Every steps in real estate will required a lawyer. A Lawyer will proven will helping person at every step of the way to guide and handle buying land, Paperwork, court quarry, and other legal issues. If you get trusted Lawyer then you can also make him a business partner.
6. Get a Real Estate Business License
>> Whether you do real estate business in your hometown or in a big city a license has a to be made for real estate business. Many times there are unfortunate incidents at the construction sites and sometimes the worker also lose their lives. so it would be wisest to act legally and if your paper work is complete and if you are a license holder then it is as easy as the customer's trust. That is why you can register your business in partnership or limited liability partnership and GST registration is also necessary for tax payment.
>> To Get a License you have to apply under RERA or real estate regulation. You can apply for a license in your state and you can also take the help of your lawyer. keep in mind that the validity of the license is five years.
7. Build a Authentic Website
>> Authentic website will increase your business where nowadays people have done their research work on the internet before buying anything. So That's why you want to give exposer to your business then build an authentic website where you will have complete information about your project. Because most of the customer first visit the website and then go somewhere and reach the construction site.
8. Create Launch Ped
>> Your business will also need a Launch Ped which means that you have brought a product to the market and you will also have to do your own branding and marketing to tell this to the people. By typing Print Media, Social Media, Influencer, Popular TV and radio, you can reach your potential to the buyer and also lucky Draw and other attractive offers will also help you to reach the customer. So you can work on some such ideas.
Benefits of Investing in Real Estate
👉 Go Ahead and talk about the benefits of real estate business first of all there are many benefits of real estate business like granted of income in which the investment done with the right planning always gives you a good return.
👉 You can sell your project as well as give it on rent in which you will keep getting a fixed income along with it. Even if the property is not sold there will be no shortage of people living in a good location.
👉 In today's time investing money on land property and real estate is a money making business because its value keeps on increasing according to the time. In this the resale value is very high in which you can earn big money.
👉 As soon as you enter the real estate business then your status in the society increases a lot and the property that you have created remains yours forever. With which you can also buy or sell according to the need. financial also gives you and your family a secure future.
👉 The Government also give you tax benefits by investing in real estate. If you buy house worth two crores then it gets a lot of tax exemption apart from this what other tax will be available you can see on the finance ministry's Atmanirbhar 3.0
Real Estate Developers also Get Loan Easily
>> If you want to try your luck in the real estate business but are thinking that there is no capital or money, then you can start your business by taking a loan from the banks. Like in construction finance or project finance, PNB Housing provides direct finance to real estate developers. You can check its details on non home at www.pnbhousing.com for this SBI also Provides commercial loan against its home loan. For this SBI also provides commercial loan against its home loan.
Career in Real Estate
>> Now let's talk about the career prospects in the real estate sector. Real Estate is such a growing sector that there are many different career option available. In which with the right knowledge and intelligence, you can get better job options.
>> Marketing, Finance, Interior, Construction, Customer relationship manager and analysis are some of the experts without whom no real estate businessman would be able to think of moving ahead because like other things, your home is also a product whose proper marketing gives you a potential buyer for which skilled and professional sales and marketing people are needed who will be able to achieve your business target.
>> Similarly, Where and how to invest your capital and how to get more output in less budget, you must also need a capable finance team so that you can increase business profit.
>> Look where there will be construction there will also be a need for interior designer, Managers and agents for the supply of necessary things and we have know what are the possibilities in the career and with this real estate is a risky business, its means that there is a risk like the rest of the business. You have to invest lakhs of crores of rupees in this business, that requires lot of courage.
Risk Factor in Real Estate Business
>> First of all many people take a lot of loan to start this business. If your business is in a wrong location then the chances of losing money are very high and the liability increases.
>> It's not like you have complete a project like you got a customer right away. Many times the developers has to wait for year to sell and rent the product at the right rate and for this you should also have passion.
>> Many times due to not doing the right research or on the talk people or agents, you start work on such land property and it turns out to do be illegal or there is a court case going on it or that property is in a restriction area where there are many governments restrictions. That's why doing all kinds of investigation while buying land will make your investment secure.
>> If all these points are managed properly then real estate is like a chicken laying a golden egg. In which if you work with patience then you can get lakhs or crores in the long term. Because for the sake of jobs and good lifestyles people are going to big cities and also buying houses. Now look leaving the village and going to the city and buying land and building is not a matter for everyone. That is why the culture of flats and apartments is increasing and the real estate industry is also growing a lot, in which both can earn wealth.
>> Friends, We hope that you have must have liked this full information massage of Prostar Support and weather you want to reply give in the comment box and don't forget to share further.
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