Hi everyone
After doing job for 4 years, I am desperate to become a real estate investor. I have no experience in real estate and started mu education from this forum only.
I have come across so many words like Lease option, wholesaling etc. My question is will the same thing happens in all the countries like India.
I have been trying to find the real estate club in my city Mumbai, but could not find it. All the books I find is By and for US people.
Please help me where should I start? :help :help
Nishant
Welcome.
Is property held by title in your country? Have you tried contacting a Title agency. They should be able to answer a large amount of your questions. They may be able to provide you with some local investor contacts.
Nishant,
You need to talk to a real estate agent or whomever sells houses in India. They should be able to tell you how to get an education there.
Every country has its own laws on buying and selling real estate.
Good luck to you, and let us know how they do it in India, okay?
Furnishedowner
Welcome to the forum. You should contact a real estate professional in your country.
Hi
Mdhaas
Sorry But I didn’t get what you are saying “Is property held by title in your country”
Furnishedowner and gREALTOR
I definitely will let you know.
Can anyone suggest a good book to start with, so that before going to any rea lestate agent I should have at least some basic knowledge and terminologies.
Nishant
You don’t need a good book—you just get cleaned up nice and walk into a real estate office: “My name is…Is there anyone here who could talk to me for 5 minutes about a career in real estate?”
If you are turned down, go to the next office. You must get used to asking questions if you want to buy and sell real estate.
Also check your evening schools and adult training classes–any in real estate? When I started I too knew NOTHING about real estate.
One morning I found a 6 AM TV Adult Education class on “Principles of Real Estate”. So every day I sat in my bed with a cup of coffee and absorbed those principles. I loved it. I couldn’t get enough of it. Then I found an evening class at a Community College Adult Education program and that was the next step.
You will find your way on how to get this education. Let us know what you learn from visiting real estate offices, and ask those questions.
Furnishedowner
I do not know anything about real estate in India. But there are 2 British websites with international investors where I have seen real estate in India discussed. One is Singing Pig. The other is Totally Property.
If you study the information on this website (reiclub), you will learn lots that might be valuable to you. But then, you will have to figure out how to make it apply to India.
I suspect that some of the basic principles of investing are going to be valid almost anywhere in the world. It is going to be up to you to see how it fits with your local laws and customs.
If it helps, I have heard several international investors recommend India as a good place to invest in real estate.
Best of luck to you.
Hi,
As you guys told me, I have start looking for properties for Investing, started meeting real estate agents etc.
I have found one apartment unit, which seller wants to sell for INR 4500000(because he needs urgent cash of INR 1000000) according to Realtor the buying price is around 50,00000 in that area.
My question is can we generate positive cash flow with one unit apartment, or we need multi-unit building. Also help me with how to calculate the value of the property so that I can make my offer to him.
Nishant
In order to help, we will need a lot more information. For example, rent, taxes, utilities, are you paying cash or mortgage, will it require any repairs…