In light of the current global crisis, many people are turning to less volatile and more tangible forms of investments. The stock market and cryptocurrencies are fluctuating wildly and unpredictably. Brosnan C. Hoban, celebrity real estate broker, author, and entrepreneur, is offering advice to those interested in tapping into the stable market of real estate.
Hoban has been doing real estate for quite a while now, working for Jones Lang LaSalle for a number of years, then bringing that experience to his father’s company Hoban Realty, leading it to over $10 million in yearly profit. He is a true forward thinking person, and has been successful online using professional photos, videos, and drone footage to make his properties appealing to online buyers. Hoban told Yahoo, “I make sure that any property I’m considering buying or selling is easily found online and looks good on mobile platforms.”
Brosnan C. Hoban’s first tip is to make sure the property’s future value will go up. This means not only researching the property, but also the neighborhood, and staying up to date on other commercial developments nearby that could boost the property’s future value. In the personal homes sector, often homes further away from public commodities, like grocery stores and restaurants typically have lower values than homes near such developments, Hoban recommends purchasing homes near planned development areas.
Hoban’s second tip is to make wise purchases. “Don’t purchase buildings that are run down, or homes that will take a lot of time and money to repair.” He encourages people to know absolutely everything about a property before purchasing. “Make sure you have a copy of all repairs for the last 5 years on the property and a history of any problems experienced by previous owners.”
His final tip is to not overstep yourself. “Don’t take out excessive loans to purchase properties, often it will be a month or more before you can secure a buyer at a price you benefit from. Also don’t purchase too many properties at once.” He encourages buyers to have a decent amount of capital before purchasing for resell.
