7 Things to Do to Improve Your Real Estate Portfolio Before 2020 Ends

No matter how great it looks, there’s still a big room for improvement.

But then there’s a good chance that your real estate portfolio doesn’t look “great” in the first place and you’re looking for ways to improve it.

Building a high-return real estate portfolio is a long-term game. There’s no trick to it. The small and consistent steps help you cover the bigger journey.

But that said, there certainly are a few strings that you can pull to solidify your portfolio for future growth.

How?

Here are 7 things you should do to improve your real estate portfolio before 2020 ends:

1. Change your real estate investment plan and strategies. We’re living in a new normal now. The pandemic and recession have changed it all; a lot more changes are still to come. As a real estate investor, you must adapt to these changes. 
2. This is quite a cliché but in case if you missed it: diversify your portfolio. If it’s already diversified, diversify more. Invest in different companies and industries. Of course, get informed first.
3. Commit to proactive learning. One of the biggest mistakes of real estate investors is that they don’t proactively invest in learning. If you want to get better at the game, you must have that learner’s mindset. Read relevant books, watch videos, enroll in courses. Consume reliable news, look through charts, and do your own analysis. This habit will boost your investment skills in the long-run.
4. Invest in commercial properties. Many investors get too hooked to the residential segment that they don’t even see the opportunities in the commercial segment. Take steps to invest in hotels, malls, and other commercial properties. 
5. Enter the international market. You don’t have to limit yourself to the domestic market. Courtesy of good property investment companies, investing in properties outside your country isn’t difficult. So, look for investment opportunities in different countries.
6. Start networking more with other real estate investors. Especially the beginners, they underestimate the power and importance of networking as a real estate investor. Don’t be one of them. Staying in touch with other investors – who have their own network, sources, and resources –will help you discover many opportunities.
7. Hire experts for real estate investment services. As mentioned, a lot goes into building a high-worth portfolio. Having experts by your side to navigate you in the right direction can be of the biggest help. So, hire experts and consultants, communicate with them your goals, and listen to their advice.

These are 7 things you must do to improve your real estate portfolio before 2020 ends.

How to Save Your Declining Real Estate Portfolio?

You started on the right track. You had one of the top real estate companies by your side and every decision was falling in the right place. You were on the way to build a high-worth portfolio.

But then something went haywire and now things aren’t looking quite bright.

You have a poor portfolio that’s struggling to grow. You’re, in fact, sustaining significant losses.

If that’s you…

Here are three tips to save your declining real estate portfolio:

1. Get rid of “bad” properties

Audit your existing portfolio and find out the bad seeds… Find out the properties that are adding to your loss – properties that are now more like a liability, bringing you no real value or cash flow.

Give such properties a hard look and take the tough decision of getting rid the most of them.

If they haven’t added sufficient value to your portfolio in a long time, it’s best to bid them adieu. Get in touch with a good real estate investments company and find the right buyer/investor who’s ready for the desired deal.

2. Audit your existing strategy

If everything was going right and things have taken a bad turn only now, there’s definitely something wrong with your existing strategy.

Maybe it wasn’t scalable; maybe it’s not adequate; maybe it has failed to adapt to the changing market dynamics.

There could be plenty of wrong with your existing investment strategy. Audit it and find out those “wrongs”.

3. Consult an experienced professional

When you can’t figure things out yourself, when you’re struggling – it’s a good idea to get a second person’s opinions.

Find an experienced consultant who has adequate knowledge and understanding of real estate investment properties in USA. Talk to them, tell them about your situation, share your goals and expectations, and then follow their advice.

If the professional is really as good as they say they are, consulting them can be really helpful.

Conclusion

These are three simple tips to save your declining real estate portfolio.

Act proactively, take proper measures, and give your portfolio the right boost.

Sure, it won’t happen “quickly”. But spare enough time and efforts, and you will be back on the right track, striding forward to newer heights. 

Partnering With Other Real Estate Investors: 3 Tips

When you can’t afford a property alone but the prospect is great, it’s a good idea to partner with other investors and pool funds. This is, in fact, very popular advice of the best investment companies.

But then partnering with someone to commit such a big amount together has its challenges.

To help you with that, here are three tips to follow when partnering with other real estate investors:

1. Ensure you get along with them well

Many investors undermine this.

Even when it’s a business association, bounded by law, experience matters. If you’re always in conflict with your partner, it will lead to unnecessary hassle and even losses in the long run.

So, to avoid any such possible conflict, it’s essential to ensure that all the involved parties get along with each other – that you like your partners and enjoy effective communication with them.

2. Do adequate research

This goes without saying.

Whoever you’re partnering with, make sure you know adequately about them – about their interests, track record, portfolio, and more.

If you’re connecting with a partner through real estate investments USA based companies, those companies might exchange information to both the parties.

If not, communicating with this potential partner and asking them the right questions will unveil you many details and insights about them.

3. Be clear on the goals and objectives

You’re partnering with them for a reason. Keep those initial objectives at the center; don’t go haywire in the early days to invest in other projects.

Be clear on the goals. Outline a plan together along the lines of those goals and then act accordingly.

It’s easy to get distracted when you have so much capital with you and there are plenty of commercial or residential property investment opportunities out there. Don’t get distracted. Focus on the primary goals. 

How to Build Your Own Network of Real Estate Investors?

Being a part of a real estate investment network can unveil you plenty of otherwise hidden opportunities. For example, not all real estate projects get listed; so many of them remain off the market.

If you’re into real estate investing, you should definitely mingle with other investors.

Here are five tips on how to can build your own network of real estate investors:

3 Principles That Pro Real Estate Investors Swear By

Sure, you have your own investment style, capital and needs. And that copying others isn't necessarily a very good idea. However, there are a few real estate investment fundamentals and principles that everyone should follow to grow their portfolio no matter what.

To help you set your foot in the right direction, here are three principles that pro real estate investors swear by – and so should you: