A. You should definitely not proceed without the guidance of an experienced estate consultant. Without the right data and advice, the chances of getting rich or going bankrupt are approximately even. The chances of a loss are greater if you do not have an accurate idea of the state of the property market and the changing values of your investment. Before you take the plunge, make sure that you have adequate insurance coverage. Some successful investors bulwark their investments by forming a nominal limited liability company for this, and you may wish to consider this option. Q. Can you provide some practical guidelines on selecting properties? A. Location is everything. Even if rates are steeper in a preferred area, go for it. It will pay rich dividends in the final analysis. Invest in properties under construction or still in the planning stage. Here, the investor has a say in the kind of property he or she wants. Till the date of actual completion, rates will tend to be on the higher side. If you choose to invest in residential real estate, the first preference should be towards flats that are located on the first floor. They should offer a good view and ventilation and, ideally, the use of a swimming pool, clubhouse and other trendy facilities. They should also be backed by adequate parking facilities. Most buyers do not make compromises on this last factor, even if they give consideration to the others. Choose to invest in properties under reputable banners. The very name of a famous builder makes a decided difference on the bottom line of the sales deed. Q. How profitable is it to invest in 'ready possession' properties? A. Properties available for ready possession do not allow for much picking and choosing. However, since certain dynamics of the property market remain constant, a profit is still possible. A 'readymade' property bought for the purpose of investment will have to be given sufficient time to appreciate in value. Also, certain modifications specific to a potential customer's needs may have to be made. The cost that this involves would have to be adjusted in the final amount. Q. What are the different types of property investors? A. Property investors and speculators fall into the two broad categories of actual users and exclusive investors. Actual users seek to make a percentage of profit on properties that they are themselves currently occupying. This may take the form of partial rental or sale of a residence or the sharing of office or factory space with another business entity. A more rewarding option is the sale of the entire property. The kind of profit one can make on the sale of a property in current use depends on the age and state of the property, its location and its inherent value in the market. |
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