What To Remember When Setting Real Estate Goals For The Future
The real estate industry is a highly evolving industry with markets shifting from day to day in terms of interest rates, economic drivers, and regulatory policies. As an investor in the real estate industry, planning and goal setting is an important strategy that ensures your investments stay in tandem with the sector’s dynamism. Whenever setting realistic goals, emphasis should be put on ensuring that your investments are well optimized and aligned with future trends in the industry. Here are some of the things to remember when setting such smart real estate goals.
Planning For Change
The real estate industry is highly dynamic, with changes being introduced regularly targeting at ensuring that the sector stays dynamic and stable. Some of the changes in the industry have led to the introduction of technological advances such as virtual and augmented reality in the design and construction of real estate properties. Slotting-in a room for such change ensures that your visions and real estate creations will have the opportunity to absorb the said changes once they are introduced.
Risk Mitigation
Real estate is shrouded in various risks that should be well planned for whenever implementing a strategy. Risk mitigation can be approached in two diverse ways including diversification of your real estate investments in different markets. You can also approach risk mitigation in your investments by planning to minimize debt accumulation.
Watch Out For Coming Events
Real estate markets are highly volatile and affected by various periodic events. Events such as presidential elections generally cause a temporary slowdown in the real estate industry. You should, therefore, limit as much as possible your developments around the time of elections and other events that may negatively affect your investments.
Use a Methodical Approach
When setting your real estate goals, you should focus on creating those which can be statistically justified and attained. Discipline in goal setting is important as it ensures that you set realistic targets which you can meet within your desired duration.
Watch The Current Market Conditions
Whenever strategizing in the real estate industry, nothing beats proper preparation than giving a careful watch on the current market conditions. Current market trends give you an idea on critical entities such as interest rates, availability of real estate properties, the market’s purchasing power, and the general trend in the market. This helps you stay informed and advised enough to ensure any action you take is smart.
Building A Network As A New Real Estate Investor
The most important asset for a real estate investor is their network. An investor’s success depends on a solid network of colleagues, mentors and business relationships. When first starting as new real estate investor, it’s difficult first building up your network. There are a few easy ways to quickly build up your strong network:
Meetups and Seminars
One of the most popular ways real estate investors build their networks is by attending seminars or meet-ups to make new contacts. At seminars, you are there to learn more and meet people in the same industry as you. There you will meet other real estate investors, supporting vendors, contractors, and other entrepreneurs.
Another effective way to make new connections is through Meetup.com. On this website, millions of connections have been made online and through web seminars. Most users utilize the site to make new connections, build relationships and engage through shared interests and activities.
Social Media
A new and flourishing way to make connections and build a network is through social media. Social media has become a necessary tool in success. It’s no longer just a way to in contact with old friends or follows celebrities; it’s also a great way to meet other professionals in your field or area of expertise. It’s important to become familiar with social media and how to use it to find connections and build professional relationships.
When building your network through social media, it’s important to distinguish the difference between followers and actual connection. Makes sure to have separate social media for professional use and another for personal use.
Take a Trip
A fun way to make new connections for your network is to meet people in other areas while traveling or on vacation. Traveling somewhere new can give you in-person on perspective properties or research new real estate markets. It can also give you the opportunity to make the connections you wouldn’t have been able to in your region. This way you can expand your network and get inside information on other real estate markets.
Don’t leave these meetings to chance–make sure to contact a connection you’d like to make before going on the trip. It’s much more effective to research and look up other investors, realtors or contractors that are in the area you are traveling to.
Take every opportunity you can to build your network. Whether it’s through a chance meeting or attending a conference, any connection you make can lead you to your next big investment.
About Avraham Glattman – New York Based Real Estate Investor & Owner Of 1st American Properties Group, Inc.
Learn more about Avraham Glattman, real estate investor and owner of 1st American Properties Group, Inc. in New York, New York.
About Avraham Glattman
Avraham Glattman is the owner of First American Properties Group, a real estate business based in New York City, New York.
Avraham brings over 26 years of experience working as a real estate agent in the city, where he continues to work today. He graduated from Newport University with a Bachelor’s Degree in Business Administration and Management and remained at the university to attain his Masters of Business Administration (M.B.A.). After graduation, he jumped straight into the real estate field in 1992 in the greater New York City area. Throughout his career, Avraham has explored listings across the New York area, keeping a detailed account of the locations, pricing and comparable properties in the housing market.
After gaining a wealth of knowledge about the real estate marketing in New York, Avraham Glattman decided to take it a step further by creating First American Properties Group with his longtime business partner, Pete Jacov in 2008. First American Properties is a real estate and development company that services the five boroughs of New York. The company currently owns residential and commercial properties in Queens, Downtown Brooklyn, Harlem, and Manhattan. The company focuses on monitoring the growth and development in different areas of the city, so they can work to establish more patterns of growth and help revitalize the area.
While monitoring the different areas of New York City, Avraham Glattman consistently keeps an eye out on up-and-coming neighborhoods that he could potentially invest in. For example, after seeing Harlem, Avraham was immediately impressed by the neighborhood’s charm, leading him to invest in properties in the area. With a convenient location next to the subway and charming business like music venues in the area, it was not hard to see what attracted Avraham to the area.
Today, Avraham Glattman continues to find new investments with First American Properties Group, alongside his business partner, Pete Jacov. Together, they are working towards the goals that they set for First American Properties Group. The goals include acquiring property in the Harlem area to renovate and sell, as well as acquiring properties in all five boroughs.
Avraham Glattman is also the proud owner of 1927 Café Bar Popularr. Located in Harlem, the café serves a variety of open-faced Mediterranean sandwiches, called ‘Toastics’, and many types of coffee. Café Bar Popularr is proud of the rich artistic traditions of Harlem, and invites local musicians, authors, and comedians to visit and share their talents with friends.
Avraham was born and raised in Israel, where he went graduated high school. Not long after, he served in the Israeli army for three years, before he was sent to the United States to work with an Israeli newspaper in Brooklyn, NY. Not long after making the move to New York, Avraham met the woman that would become his wife in 1991. Together, they have three children.
In his spare time, Avraham Glattman enjoys spending his time with his wife and three children and loves to explore new parts of New York City. Avraham’s incredible dedication to both his work and family brings him immense happiness and purpose each day.
To learn more about who Avraham Glattman is, visit AvrahamGlattmanNewYork.com.
