– Realty in Vietnam: there are many different ways to own property in the real estate market such as inheritance, sale, takeover, lease / lease, … many suffer the most in the real estate market.
– As a real estate investor, you must always be determined that you will face a variety of risks, including losses. Here are a few tips of experts from Nairametrics, thereby helping you to reduce your money loss when dealing with real estate.
Test your real estate investment knowledge:
– What do you know about the type of real estate you are interested in? This is a very important question that you need to answer if you do not want to lose money entering the real estate market.
– To avoid losses, you must have additional knowledge about real estate as well as investing. When you are knowledgeable about real estate investing, your chances of success are higher.
Be wary of real estate marketing campaigns:
– Businesses and brokers often constantly offer different forms of advertising every day. Advertising is not a bad thing, but it also has many pitfalls. Sometimes the flashiness of ad forms can fool you.
– You need to have a clear definition of what you want to invest in. The most effective marketing campaigns will likely attract attention, not attract your pocket.
Beware of too good offers:
– Real estate can bring many levels of profit from low to very high, even sometimes the ROI (rate of return) even exceeds 100% / year. There must be some specific factors for a return on investment to reach a certain degree and frequency. Some of these factors are strategic location, type of investment and investment structure.
– When you have a good offer, you will definitely be attracted
– However, take some time to think about it. You need to try to ask questions about the offer and get answers. The quality of the questions depends on how well you know about real estate investing.
– This is why head knowledge is so important. Don’t be in a hurry, but don’t stagnate because sometimes a good opportunity comes only once.
How much are you willing to lose?
– Before buying or selling any asset, think about what you could lose in the worst case scenario.
– Are you willing to take risks? Are you willing to invest what could lose money in the future? What is the impact of your loss on your finances as well as your long-term plans? How will you recover from a loss?
– Those are just a few questions about the worst-case scenario you can face in the real estate market. No one can be sure that investments will always be profitable, especially in the context of the current unstable world economy.
– Therefore, you need to accept risks when investing in real estate.
Understand the terms of the contract
– Most real estate transactions have contracts and documents attached. All you need to do is read the contracts and their terms carefully.
– If you have any questions or recognize the terms that are not clear, immediately ask your broker or representatives of real estate companies as it will affect your interests.
– Besides real estate knowledge, you also need to understand local laws and regulations.
Assess the status of the brokerage firms
– When buying and selling real estate through brokers or real estate agents, you must check the current status as well as any transactions they have made in the past.
– You should not work with units that have had many problems, especially those related to the law.
– Choose brokers or companies with high reputation. This will help you reduce risks and avoid losing money when investing in real estate.