blind investment
Ismail Al Hammadi
September 13, 2022
“We receive a lot of complaints because of blind investment without professional advice, and unfortunately, some people fail to give advice for financial reasons, but if he calculates the small amount that he will pay for advice, he will find nothing in return for ensuring that he is not exposed to risks and difficult failures”... A comment that attracted me to one of the tweets , published on the Twitter page, about some people generalizing the failure of their real estate investment experiences to the market and the sector, while ignoring the real reasons for their failure, which is their failure to take the right investment advice.
The truth is that such cases, I encounter a lot in my profession, often turn to us people who bought real estate with the aim of reselling it, and were unable to sell it at the profitable price, which compensates them for the purchase price, and sometimes they fail to sell it completely, neither at a more nor less price.
Many times, others complain about the low return on rent, or the failure to get tenants.
When you look at such cases, you find either that the area in which they were purchased is not attractive, or that the area and type of the intended unit is not required in that area.
There are many factors that lead to the failure of these investments, for one reason only, which is lack of knowledge and lack of proper advice before buying, or rather blind investment.
Here, I return to the comment at the beginning of the topic (if every beginner wants to buy or invest in a property, he devote a small amount of his time to searching for a specialized real estate advisor, his investment would not falter due to his lack of awareness).
Specialized real estate advice, opens your eyes as an investor to many points, which are hidden from you, because you are not sufficiently familiar with the real estate world, and give you an idea of the area and the property you are looking for.
It also reveals to you the black points in the purchase contract before it is signed and the potential risks.
Real estate advice from specialists and professionals in the market is a guide to your investment and protection for your investment portfolio, so how can you reduce it?!
You make an effort to search and communicate with real estate companies licensed to engage in real estate consultancy activity, in exchange for a basket of information that increases your awareness, protects your future investment steps, and multiplies your profits. Adopting the words of councils and cafes, and the advice of this broker, whose mission is to sell only, not to consult!
If real estate consultancy was not important, it would not have become a legal and licensed profession in the market, and it has its own laws and conditions.
I say it again, the specialized real estate advisory was created to protect the rights and interests of investors in the market, and to direct their investments towards the right path. Therefore, the advisory is considered a major supporter for you and your investment.
Therefore, do not underestimate it, or be lazy about it, a small piece of information from a specialized advisor, that removes a veil from your eyes and protects you, better than losing millions of dirhams, and the savings of your life due to your lack of awareness.
Complacency sometimes leads to dire consequences, so avoid blind investing.
• «If real estate advice was not important, it would not have become a legal and licensed profession in the market, and it has its own laws and conditions».
@ismailalhammadi
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Ismail.alhammadi@alruwad.ae
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