Be pro-active in real estate- “Stephen R Covey’s – 7 habits- 1st habit”

The need to be pro-active in real estate (One of “Stephen R Covey’s – 7 habits”

WHY WE OFTEN DO NOT GIVE REALTY IMPORTANCE

> REALTY REALLY does not interest me.

> What do I have to do with realty; I have my career path set in a different direction/ industry

> Real estate is a rather unsophisticated, unorganized and crude work

> It is already there – so what do I do about it further?

We will be pro-active only when we understand "THE FINANCIAL IMPORTANCE OF REAL ESTATE" in our lives

1.PRESENT: A substantial part of you income will be spent in paying for rent and mortgages i.e. cost  related to real estate

2.FUTURE: It has been/ will be your biggest investment decision in life.

MICRO VIEWPOINT : It can be one of the best savings and income generating tools of your life

MACRO VIEW: For the academically oriented, the number of linkages it has on the economy are so complex and varied that its movement has a huge impact at a macro level in the economy

Real estate is a tool to generate great wealth in coming years - an opportunity always taken up by the wealthy and also the intelligent on their route to generating wealth.

However, there are no shortcuts. Shortcuts have pitfalls too, whereas the correct path in RE is practically the safest, most rewarding and long term wealth generating investment you can ever make. This is because it can give you: 

•Wealth generation by way of capital appreciation

. Wealth generation by way of savings of rentals in case of purchase by way of home loans.

•Wealth generation by way of savvy tax planning – tax breaks on loans repayments and interest repayments.

•Wealth increments by return on property by way of rental incomes.

•A great hedge against inflation, can be used as a collateral or security for loans

On being proactive – 

Employ this financial asset to gain returns if possible

Make sure that it gets your attention at the right time- maintenance, legal formalities and general awareness effecting its value

Take a long term view but also do not hesitate to move out of an asset (to invest elsewhere) if you do not see its growth in the right trajectory