The world of real estate is very vast and chatting success stories will require knowledge and effort. The consumer wants to get the best returns out of their real estate investments. People who are interested in becoming real estate experts as well need to know the intricacies of the market and how to navigate through it. Here, Hershey Rosen, owner of a Real Estate Company that specializes in providing the highest level of service in real estate, gives this guide to real estate to help you understand the industry and how it works.
Considering that the market is not only huge, but it also swings in circles. Therefore, the market is complex. Consumers need experts to guide them through the hassle of paperwork and help them to make the best decisions. And for this to happen, it is vital that any real estate agent understand how the market works.
What is Real Estate?
A real estate is a form of real, physical property such as land and any other immovable objects on it. These are immovable objects that can be anything on or underneath the land and they can be natural or man-made. These can be buildings, minerals, crops, minerals, or water.
“Real estate is not like other properties owned that can be moved such as vehicles, farm equipment, furniture or any other movable properties you can think of”, Hershey Rosen explains. However, improvements made on real properties such as buildings, electricity, water, and sewage systems, are considered permanent which makes it an improved real estate.
Real estate business on the other hand involves buying, selling, renting, and investing in real estate properties such as land or building.
What are the Different Types of Real Estate?
The four main types of real estate include:
Residential:
whether new construction or resale homes, the aim is mainly for residential purposes. These include single-family homes, condominiums, duplexes, townhouses, duplexes, triple-deckers, high-value homes, multi-generational residences, and vacation homes
Commercial:
these are properties used for business purposes or to generate income. That is why apartment buildings are also included even though they might be for residential yet they still generate income for owners. Other examples include shopping centers, schools, strip malls, hospitals, gas stations, hotels, and offices.
Industrial:
these are properties used for manufacturing, research and development, storage, and distribution of goods.
Vacant land:
this undeveloped land on which homes and buildings are being made. It also includes vacant land and land use for agricultural purposes such as ranches, farmlands, and orchards.
Various ways Hershey Rosen suggests one can invest in real estate are Rental properties, house Flipping, home ownership, Real Estate Investment trusts, Real estate Investing online platforms, and a host of other options. When it comes to real estate investments, there are a lot of options to choose from and something out there to meet your investment needs.