Navigating the lucrative world of real estate investment can be exciting and rewarding. Whether you're a seasoned investor or a beginner seeking to make your mark, understanding the different avenues for making money in real estate is crucial. From residential to commercial properties, each sector offers unique opportunities. This comprehensive guide will explore the various ways to generate wealth in real estate and answer the burning question: what type of real estate makes the most money? 1. Buying and Holding Properties The classic "buy and hold" strategy involves purchasing a property and holding onto it for an extended period. This strategy banks on property value appreciation over time. You can generate income through rent while waiting for the right time to sell for a significant profit.
Firstly, when choosing the right real estate agent, check their statistics. Apparently, numbers don’t lie. See how many properties the agent has comparatively sold or leased recently. And altogether, the days on market and prices achieved. Compare these with other agents. If an agent is consistently achieving great results and smashing records, basically, are doing something right. A successful agent with a big market share will certainly have greater access to a database. Correspondingly will give your property more exposure to the target market.
Check their reviews. Besides, feedback from other people can help you decide which agent is best for you. Use their experiences to guide you towards better agents and avoid costly mistakes.
You want to select an agent with in-depth knowledge and expertise about the local area and the industry as a whole. They can properly advise you on the market conditions. Also, they can give you realistic pricing expectations. Do not be fooled by the agent that promises you above-market prices just to earn your business. More often than not, they fail to deliver.
Decide what type of communication you require. Are you happy with regular email updates or do you prefer detailed telephone conversations? Are you comfortable leaving the agent to do their job? Sometimes, they can only contact you if they have an offer. Ideally, you would select an agent that you trust to look after your best interests. You advise them early on of what level of communication you expect. Good agents may not be able to spend a great deal of time updating you on what they are doing to sell or lease your property. They are too busy doing the work!
Finally, agents work hard and should be rewarded appropriately because you pay for what you get. When negotiating fees and commissions, keep in mind that if the agent is not being compensated enough then they are less incentivized to spend time and effort. Moreover, agents that compete by reducing their commissions usually need to do so because they do not have enough business.
For an agent that you can trust to create value and deliver results, contact the team at Create Real Estate.
There are lots of ways to invest in real estate. You can flip houses; rent out properties; buy real estate-related stocks, real estate investment trusts (REITs), and ETFs; or even take part in crowdfunded deals. Another great option worth eyeing? That’d be commercial real estate (CRE): a high-risk but also high-reward asset class, which encompasses a whole slew of property types you probably haven’t even considered investing in.
What is commercial real estate?
What exactly qualifies as commercial real estate? The most basic explanation, it’s any property designed to make money. It includes all the major categories you expect -- retail stores, office buildings, industrial warehouses, restaurants, etc. -- as well as more specialized properties, like storage spaces, hotels, casinos, and even healthcare facilities.
Why invest in commercial real estate?
Whether you’re coming from a long career in residential property or you’ve never invested in real estate at all, CRE can be a smart place to put your money. But why commercial real estate? Here are 5 reasons you might want to consider it for your real estate portfolio.
1. High-Profit potential
The biggest reason to invest in commercial real estate is simply its potential. Commercial buildings come with higher rents and price tags, and thus higher potential for returns, too. Instead of making a few hundred dollars on a rental home every month, you could make. You can get your ROI faster due to the influx of rental income. And since these are businesses we are talking about, you can significantly raise the rent compared to a residential structure. CRES, though, well they’re another thing entirely. There’ll always be a new amenity that you can add or a feature that you can install. Plus, if you have secured a prime location where tenants will thrive, then other investors will surely fight over your property should you decide to sell it in the future. Investing in Commercial Real Estate is a huge undertaking, true, but it also offers a lot of benefits. Not only does it have a faster ROI rate, but it also has fewer risks. The best thing about it, though, is that it’s fairly easy to triple its value with just a few tweaks.
2. Plenty of investment opportunities
Commercial real estate investment options run the gamut: You can invest in a full-scale mall or high-rise office building, or you can keep it small, putting those dollars toward a single storage facility, an industrial warehouse, or just one condo community. There’s a lot of flexibility both in what you can invest in and where you can do it.
3. Less turnover
If you’re from the world of residential real estate, this will probably excite you. Unlike apartments and single-family rentals, commercial real estate doesn’t typically operate on one-year lease agreements. Instead, most tenants sign three-year agreements at a minimum. This reduces turnover (and the hassle and cost associated with it) and also helps ensure stable cash flow for your business.
4. Conscientious Clients
Speaking of upkeep and maintenance, you will be pleased to learn that these chores are significantly easier compared to residential properties for two reasons. First, your clients are business owners as well so you can expect more professionalism. Second, since most of them are establishments that offer products and services, they’ll be concerned about maintaining their image as well and will surely try hard to keep the premises as clean and well-kept as possible.
5. A more diverse portfolio
If you’re already heavily invested in residential real estate, CRE can be a smart way to diversify your portfolio. As 2020 taught us, you never know what’s going to happen -- with the economy or in the world. So having your investments spread across different assets is one of the wisest moves you can make in the long run.
The saying goes... ‘good things come to those that wait’.
How does 30 years sound?
Our vendor at 4-6 Matthews st in the heart of Matthews Hill (Sunshine) has been a local stalwart of the community for over 30 years and when it came time for them to look into selling their home, they were guided to us by another local vendor who the team at Create Vic was able to help only months earlier.
We met with Jan & Ken and immediately were able to attain their goals and how they wished to achieve them. Over many cups of tea and hours of talking about our love for our 4 legged friends ( the vendors had 5 show dogs) both the vendors and us here at Create Vic knew that not only were we suited for the task but we have created a lasting friendship well into the future.
With the presentation of the home, its locality, and sheer size of land, we knew this would be hot property, and Brenda and I would need to be quick on our feet as the inquiries from buyers came in. Securing property in Matthews Hill is tough at any time let alone when you have over 1300m2 of land available to you with 2 street frontages.u Brenda and I were able to handle all the incoming emails, calls, and text messages and after numerous groups came through the home we were able to secure an offer the vendor could not refuse.. all prior to the scheduled auction date.
Both the buyers and the vendors are now ecstatic as they can enjoy their Christmas break knowing they have no stresses hanging over their heads.
The vendors will now enter the grueling task of moving their 30+ year life in Sunshine all the way up to Queensland as they look forward to putting their toes in the sand and enjoying the warmth while the new owner has the time now to consider how they can best enjoy their newfound oasis in the most sought after area of Sunshine.
Below are the services that Create Vic Real Estate Offers.
The process of selling your home can be a long one with a great number of things that need to be done. It can be stressful; it will test you but they need to be done to ensure that your property gets sold.
One of the first steps you can take in your property selling journey is to get a sales appraisal (also known as a market appraisal) to really learn your property’s worth.
You can contact us or click this link. We can provide the best pricing according to the market value of your property.
RENTAL APPRAISAL
A rental appraisal details what level of rent an investment property might generate. It is an extremely valuable document that will include useful information, such as current market trends and conditions as well as what similar properties are being rented for in the area and the surrounding suburbs.
Click on this link so we can discuss more on the current leasing value of the property.
CONVEYANCING
In law, conveyancing is the transfer of the legal title of real property from one person to another or the granting of an encumbrance such as a mortgage or a lien. A typical conveyancing transaction has two major phases: the exchange of contracts and completion.
If you’re wanting to find a great reliable conveyancer please don’t hesitate to contact us and we can assist you with the smooth transition of buying or selling your home.
TENANTS MAINTENANCE FORM
Experiencing issues in your home? You can send us a quick request and our property managers will attend to you shortly.
Click this link to go fill out the request form.
INSTANT ONLINE ESTIMATE
If you want wanted to know how much your property is worth, click this link. All you have to do is enter your property address! That easy.
We hope to do business with you soon.
According to multiple studies, staging a home really can help it sell faster and for more money. Don’t forget to also include the exterior of your home. After all, the outside is the first thing potential buyers will see when they pull up for a showing. So make sure that the grass is cut, the yard is landscaped and the knick-knacks are gone (think: gnomes and children’s toys). If your home is looking a bit rundown, you should also consider adding a fresh coat of paint to the exterior walls.
Hire a professional photographer
Given that many potential buyers search for homes online, it’s crucial to include high-quality, professional photos in your online listing. Without excellent high-resolution images, potential buyers may (sadly) overlook your home.
Rent a storage unit
Selling a home successfully will involve some decluttering and purging of your belongings. For this reason, go ahead and rent a temporary storage unit before selling your home. Having a self-storage unit nearby will give you somewhere to temporarily place all of your extra stuff when staging and showing the home.
Depersonalize your home
When selling a home, you want to strike the perfect balance between depersonalization and creating a warm, welcoming home. This means putting away the majority of framed photos, bulletin boards, and personal items (think: photo albums, magazines, toys, equipment, awards, etc) throughout the home. Leave a few nice, framed photos around the house to make the home appear inviting and lived in.
Trust in the process
Leave it to your realtor to market the property. They have the means and ways to make sure potential buyers know that you are selling.
Hope these tips will help you in making sure the property is at its best to be show and market ready.
Making the decision to sell your home can be one of the most daunting prospects you encounter in your adult life. However, with the right knowledge, guidance, and a little help from the professionals, it doesn’t need to be!
There are many factors to consider when making this decision, ranging from the best time of year to sell, what the current market is doing, and whether your property needs money spent on it to get it into selling condition or not. Although we would all like to believe we know best, unfortunately, no one has that crystal ball to foresee the perfect answers for these questions, so, we rely on the information we have at hand and what historically has worked.
Every suburb has its own characteristics, and this is something that you should be aware of when it comes to selling what is likely your largest asset.
Take the time to do your research, look at similar homes in the area, when they have been listed, how they have been marketed, how they have been presented, and of course the final sale price of these homes. All these factors go into the value of your home and ultimately the final sale price.
As real estate agents it is up to us to have this knowledge at hand, understand it, and how it can be applicable to each individual property. Selling a home is not a ‘one size fits all’ scenario and it is paramount we take the time to understand these factors as well as the motivation behind why you are considering the sale of the home. We obviously want to achieve a great result for you, but we also strive to build a relationship that will continue to develop well beyond the final strike of the gavel.
This is our career and a passion, and it is the kind word of mouth we receive that far outweighs anything else at the end of the day.
Ultimately, we are here to help guide you through the process so you can understand the who/what/why and when and feel comfortable knowing that your best interest are at heart with us and your property is in good hands.
Planning to start a new career or a side hustle to earn extra income? You might be considering real estate. After all, in 2021 approximately 211,300 persons were employed in the real estate industry in Australia alone according to statistics from the Labour Market Information Portal. Compared to other careers with similar earnings potential, it is relatively easy to become a real estate agent. There are numerous benefits too—including being your own boss, meeting new people, and helping people through one of life’s biggest milestones. Still, building a successful real estate career is more work than many people imagine. Here is a closer look at Kelly Ma’s journey in the real estate industry. Kelly, who joined Create Real Estate in January 2021, is the youngest in the team. She initially studied business management but decided it was not what she was passionate about. She became interested in real estate as it is commission-based. As the saying goes: ‘the more effort you put in, the more reward you receive’ – being rewarded for her efforts motivated her to work harder. A typical day for Kelly will include a variety of tasks and duties, such as preparing and reviewing contracts, completing and checking paperwork, and communicating with clients which helps develop her interpersonal skills. Surrounded by Create Real Estate’s seasoned agents, Kelly received the support and mentoring that she needed to learn quickly. As the real estate market is constantly changing and evolving, she made sure that she did too. She hopes to increase her knowledge and confidence in communicating with clients—she constantly reminds herself that in order to advance her career, the learning never stops. “My experience is getting better and better every day. I’m constantly on my feet meeting different people, it definitely helps improve my communication levels and create a sense of connection more.” It can be tough to manage time as a new real estate agent, juggling between spending time at the office, meeting with clients, staging and showing homes, and scheduling appraisals and inspections. There are the usual regular daily tasks, but every day is always a new adventure. New people, new properties, new challenges to overcome … and as she describes it, no two days are ever the same. If you are like Kelly and you enjoy hard work, are a self-starter and like the idea of making your own schedule, a career in real estate might be right for you. If you sell enough properties, you can earn a very substantial income. The bottom line is, no one is born an expert in their field. A career as a real estate agent can be both challenging and financially rewarding but Kelly knew one thing for sure — to keep a positive attitude and not give up despite the challenges, especially at a young age. She believes that putting in effort and honest enthusiasm towards helping other people is the key to finding success as a real estate agent in her first year and far beyond.
Are you buying or selling a property? Or are you hiring a real estate agent for your business? Understanding how to find the best real estate agent is important. A good real estate agent will have a clear handle on the ins and outs of the housing market in your area. He is vital as well in getting the best deals. Here are a few steps on how to find the right agent. 1. Research Potential Agents You can run an online search for agents in your area, check reviews and find who has the most listings. Experience with many clients indicates a certain amount of experience and ambition but reviews would also allow you to see how professional and what extent of customer service they provide. Researching online gives you endless potential in checking information about the agent or the agency you’re eyeing to get. You could also get a Local Real Estate magazine to check trends and updates on the Real Estate industry. Get referrals as well through family and friends. Through word of mouth, they can attest and suggest which agent they’ve worked well. They can easily recommend the best agents and warn you against the bad ones. 2. Find Somebody Local Your agent’s experience is only helpful if he’s familiar with the area you are buying or selling in. They should have good relationship with other local agents and have a good professional network that will bring in large pool of potential buyers to your home or allows you to have a number of homes to inspect. The should know the best advise on sales price based on recent trends and find the best neighborhood for you. 3. Get a Full-time Real Estate Agent Can he rush to your place if some buyer wants to check it? Can he answer his phone when a prospective buyer calls? Getting a full-time agent is like getting married, you need someone who can commit, not someone practicing on the side. Find someone who is dedicated in devoting most of his time and energy into helping you find your dream home or sell your current home. A full-time agent has an intimate understanding of the field as well. He goes above and beyond for his clients because they are their source of income. 4. What type of Communication You Prefer One of the best ways to make the home buying or selling process go as smoothly as possible is to communicate effectively with your agent. You have to know how best to communicate with your agent for speedy responses. Many agents take advantage of texting to be able to verify details quickly and easily, but if you prefer phone calls or emails, find an agent who can accommodate. If you get an agent that you’re comfortable with, you can get your home sooner. 5. Check the Agent’s license if it’s up to date Before you sign with an agent, check the agent’s license. It is important to assure the legitimacy of your chosen agent. This is to avoid fraud transactions and future issues. All real estate agents are licensed by the state they work in to engage in real estate transactions. You can ask to see proof of this license to ensure an agent has the proper training. Realize that your real estate agent is the partner you will need to trust during a financially significant and stressful part of your life. If you find an agent you like who gives you realistic answers to the questions you asked, and if you believe that is someone you can trust, you’re likely on the right track. Feel free to also check the agents we have in Create, if they tick the checkbox in your list, do contact us through 0393124444.
Are you planning to buy your first home? Purchasing a property can be exhilarating yet a bit intimidating, especially for the unprepared first time buyer. There are a range of factors that can greatly impact your finances and lifestyle. Here are 6 things to consider to help you boost your confidence on your journey towards home ownership. Costs That Make You Comfortable Try not to stretch yourself to the limit of your budget. Remember that there are more costs to consider than just the deposit and monthly mortgage repayment. You should also factor in stamp duty, land transfer fees and conveyancing fees, as well as ongoing costs including council rates, water rates, insurance, utility costs and owners corporation fees (if any). Once you have found a property that you would like to submit an offer for, ask the agent for a copy of the section 32 vendor statement which will give you an idea of what the ongoing yearly outgoings for the property will be. Your conveyancer or property lawyer should also be able to advise you on what your stamp duty and land transfer costs will be, including whether you qualify for any government incentives and concessions. The Size of the Home You Need No matter how tempting it is to buy a bigger space, a bigger property usually means there is more space to clean and maintain, more ongoing costs, and more things that could potentially go wrong. If you have a growing family, then no doubt you need more bedrooms. Ensure that the number of bedrooms and bathrooms, the size of each room, and the spaces available car parking all meet your needs. If you have or are planning to have pets or children, you might look for a property that has a good sized backyard. Condition of the Property One of the most important things to consider when inspecting a property is to make sure that the building is in good shape and all appliances are in good working condition. Whether it is a new or old property, you can arrange for a building inspector to check for any defects or non-compliant work before you purchase (or make your offer subject to a satisfactory building and pest inspection). Remember, what you see is what you get. The vendor is not required to fix any issues that were existing at the time of sale, even if you did not see them at the time of inspection. If you are buying an older property, you should also factor potential renovation and maintenance costs in to your budget. Proximity to Work and Schools Check the routes from the property to your workplace and nearby schools. Note any public transportation stops near the property as this can add value in the long run. In addition to looking at a map, why not travel the routes yourself and see what they are like, how busy they are and how much time it will take? This will give you a feel for what your new daily routine at your new home could be like. The Location and Neighbourhood Find a property in a neighbourhood that you would enjoy living in. Do a quick research about the local area – perhaps take a drive and spend some time there if you are not familiar with the area. Go out to eat at local restaurants and take a walk through a nearby park. Once you find a location that you like, let your real estate agent know so they can look for properties in that specific area that might be suitable for your needs. Get an Experienced Real Estate 'Advocate' Consider enlisting the help of an experienced professional to represent your interests. They will work for you and act in your best interests and guide you through the buying process - from negotiating a price to navigating home inspections. Buying a new home is a big decision and financial commitment and it is not always easy to find the right property that suits your needs. But with the right support and advice, and knowing what to look out for, the process can be a lot less stressful. When you are ready to find your new dream home, give us a call us on 03 9312 4444 and our experienced sales team can help.