I'm interested in initiating a real estate business however i am unaware of the process. The pros and cons, the legal formalities, the buying process, recognizing good investments and so on and so forth. I'm a complete newbie, to make a long story short.
Here's what i intend to do;
1 - buy plots, build them, resell them
2 - buy property in case the seller is selling for lower than market rate for whatsoever reason, maintain it, resell it
3 - anything that you may come up with that sounds profitable ?
I'd like to be guided; i don't even know what to ask.. But if you're someone established into this and have experience, you probably know what and where to guide me and what i must know; thanks
Please help! :)
If you don't know the business and havent work with someone in the business for at least two three years, stay away from it. Don't invest directly.
If you must invest, then first work with someone and learn.
Property business is full of all sorts of thugs and clever souls and for a person like you who--according to yourself; is unaware of all the dynamics of this business; is not recommended.
Spend some time understanding this business, market trends, ups and downs of this business, external factors etc. And then decide based on your aptitude--not by just getting impressed of some tycoons.