Having an Exit Strategy in Real Estate

Real estate is a good way to invest, but there are hazards in which you must look out for. Whether you are an experienced investor or a novice, being aware of these pitfalls can be very helpful. To make successful investments, use these tips provided by real estate developer Solly Assa. Before buying an investment property, just like any experienced investor, he too plans for a specific exit strategy. Assa in his interview for inspirery shares how he started in real estate and also gives more tips which can help you if you are beginner.

A backup plan is critical, as things can change at a moment’s notice. Having multiple real estate exit strategies will proceed to lower impending risks and allows investors to achieve maximum return on their investments. Establishing a proven system, a plan if you will, has the potential to propel any business to the forefront of its respective industry. Accordingly, an exit strategy is essential to making money with real estate. Ultimately, it is up to the individual investor to determine their success relative to their peers. However, implementing one of a number of well-devised real estate exit strategies will surely give anyone a significant advantage over their competitors.

Real estate exit strategies are plans in which the investor intends to remove himself or herself from a real estate deal. The decision to implement a sound exit strategy is crucial to success, as the correct approach will result in maximized profits and minimal risks. As an experienced investor, Solly Assa understands how important it is to evaluate each scenario with the end in mind. That is, to have a specific plan for every house you are considering purchasing. Investors should have a clear understanding of how they intend to profit from every real estate investment before they even meet with a prospective seller.

Having a real estate exit strategy can save your business thousands of dollars, if not millions. In Solly Assa’s opinion, you should never start negotiations with a seller without knowing how you would potentially exit the deal. Not only will blind ambition increase risks, but it will deprive any potential chance to negotiate from a position of power. By not considering an exit strategy, you are reducing potential profits while simultaneously increasing risks.

When planning an exit strategy, there are several key factors to take into consideration. Understanding your strategic plan will help you maximize returns on your investment. The exit strategy usually depends on the amount of cash you want to invest in the project and the level of experience. The founder of Assa Properties, Solly Assa, notes that although there is no right or wrong strategy, knowing all of the different ways to exit from a deal can increase profitability, as you will know how to navigate even the most marginal of deals.

Key Factors that Affect Real Estate Prices

When it comes to real estate prices, there are different methodologies for determining a property’s value. Regardless of whether individuals are buying or selling properties, people are always considering current property value. NYC real estate executive and founder of Assa Properties, Solly Assa explains that there are several factors that can shift property prices on both ends, either increasing or reducing prices. Major factors that determine the value of any kind of real estate property include general condition, location and the current status of real estate market. Here, Mr. Assa uncovers some of the most important factors affecting the property market that will almost certainly impact the price of your home.

Real estate represents a significant portion of most people's wealth, and this is especially true for many homeowners in the United States. Recent studies show that more than 65.2% of American families own their own primary residence. The real estate market size and scale make it an attractive and lucrative sector for many investors. In this article, Mr. Assa explains some of the main factors affecting the real estate market as well as the variety of investments available.

Location

We’ve all heard the phrase “location, location, location,” but what does this mean when it comes to property prices? According to Mr. Assa, location is the main factor for property price shift. Property prices are majorly influenced by location, whether the property is located in a well-developed neighborhood, commercial zone or in an upcoming zone that is witnessing development. Having easy access to amenities like shopping centers, healthcare facilities and entertainment offerings will shift the price towards the high end. Rougher areas with high crime rates don’t attract too many buyers and investors, which causes property price to fall.

Size and Layout

The age and size of your home compared to other available properties also plays a part in your home’s value, explains Mr. Assa. The larger the square footage of the house, the more expensive it can be. Additionally, the number of bedrooms largely influences a home’s value. So, a house with several bedrooms is more likely to have high curb appeal as opposed to a one bedroom unit. Interestingly enough, sometimes fewer but larger bedrooms tend to boost value. Moreover, an open plan design layout is often more appealing than a boxy space of the same size. Furthermore, a house which is newly built or is in immaculate condition holds highest market price than the one that needs remodeling. Historic homes or newly built, modern properties often reach higher prices than houses built somewhere in between. Potential buyers will take into account the condition of your home when deciding if they want to buy it and how much they are willing to pay for it.

History of Hotels: How they became part of real estate

This is an interesting article, originally published on houzz.com

The first new types of hotels emerged in London in the mid-eighteenth century, back in 1760. Paris followed shortly after, opening accommodations under the name “Hotel Garni”. At the end of the same century, the hotel expanded throughout all cities in Europe. In North America, the hotel came in the early nineteenth century, spreading throughout the whole continent from the Atlantic to the Pacific. The evolutionary step from the tavern (“inn”) commodities to hotel commodities was instant, happening simultaneously on the old and the new continent. In the nineteenth century hotels become the social centers in the community. In the period from 1850 to 1950 there was a considerable growth in the number of passengers, who did not stay in hotels because of business reasons, but because of personal reasons like leisure and tourism. With the development of traffic and accompanying infrastructure, the need for hotels only grew.

Pro Tips from Solly

Original Article

Paint is one of the simplest, most cost-effective home improvements. Freshly painted rooms look clean, modern and up-to-date. Overly bold shades should be avoided if you don’t want to risk having your house stand out for all the wrong reasons. Before you get started, it’s best to consult with a designer. Nowadays there are also virtual painting programs that can give you a preview. Home Depot and hardware stores often have professionals who can recommend shades and colors based on what you’re looking for.

Lastly, you should certainly consider having a professional come in to check out your home. He/she can offer advice on home improvements and may even discover hidden problems that could negatively impact your house’s value.

Skills and Qualities are like Sticks and Stones

It goes without saying that agents should always be transparent with clients and work for their best interest. Another extremely important and rather obvious skill is knowledge and experience. Being a real estate agent requires a lot of skills, but knowing how the purchasing and selling processes work is the first and foremost. Real estate agents are experts, which means they are trained, licensed and have the experience to work through the sale process efficiently. A good real estate agent needs to be aware of how things go in the real estate market at all times. Having a handle on all aspects of the job requires an agent to be up-to-date on new laws and regulations, contracts, and all other legal means.

Having solid negotiating skills is another quality that is required by real estate agents. A good agent must have an unquestionable talent for negotiation because unlike buyers and sellers, the agent can overlook the emotional aspect of the ongoing transaction, which Mr. Assa says leads to successful negotiation. Regardless whether you are buying or selling a property, you will most definitely need to negotiate since it is an undeniable part of the real estate market. An experienced agent should know the average price of the area at any given time, which translates into knowing when to push for a better price and when to stop the negotiating process and close a good deal.

Continue reading on http://realtytimes.com/advicefromagents/item/1004855-skills-and-qualities-that-make-a-good-real-estate-agent

Assa is now Houzz, the leader in house and homes design

https://www.houzz.com/pro/assasolly

Solly Assa : How to Find Real Estate Investments that Works Best for You

If you are looking for a way to build up your finance, investing in real estate with commercial, residential or retail properties might be the thing for you. Although these real estate investments are very different and learning their business models and practices requires a lot of time, Solly Assa, developer and founder of Assa Properties managed to find a way and capitalize on these global development opportunities. His company has developed and invested in residential, retail and commercial properties for more than a decade, acquiring more than 3 million square feet of assets in the United States and Mexico. Starting from 2002, Assa began to acquire buildings in New York City and sourced new development projects in some of NYC’s most distinctive neighborhoods.