4 rules that guarantee successful real estate investment

Marketing activity consisted of four basic elements identified by Professor Jerome McCarty, Professor of Marketing at the University of Michigan, USA, when he announced in 1960 what has become world-famous to this day as the Marketing Mix, all of which begin with the English letter P, namely: Marketing tools for a successful policy (4 P's).

1. “Product” It means what the market itself offers, especially the product, packaging and the set of services that the buyer obtains when purchasing the product.

2. “Distribution” or “Place” The arrangements that work to make the product accessible to the buyer and reach the target market.

3. “Promotion” means advertising, sales promotion, direct mail, advertisements that enlighten and lure or remind the target market regarding the availability of the product and its benefits.

4. “Price” means the price of the product in addition to other fees for delivery, authorization, and others.

Marketing is the first and most important job, more than any other job, to deal with buyers or real estate investors and build relationships with them on the basis of providing value to them and achieving their satisfaction.

Marketing operations and activities surround people throughout the day. Marketing often takes the media as a starting point to reach the largest possible number of the target segment. With regard to real estate investment, it is easy to notice the momentum of news, press reports and advertising in newspapers, magazines, radio and television to (promote) within the framework of the parent umbrella (marketing) the advantages of the real estate (commodity), price, location, services and others, which are attractive to the investor and push him to take actual action towards buying real estate of all kinds, residential or commercial, and others.

Experts gave advice based on 6 rules that guarantee good results at a minimum and during normal market conditions, namely:

1. Investing in the place where you work or live: 

If you want to be a successful investor, you must be fully aware of what you are doing. And if you have spent several years in a certain area, know that you are distinguished from others by knowing the local real estate more than you think.

Staying in your area gives you the opportunity to know the real estate market well, and this is the most important factor in reducing your risk and increasing your profit potential.

2. Investment in new or promising urban areas:

If you can buy in promising areas, you are on a date with making huge profits. And when you buy a property that is not of great quality and in a distinguished location, the advantage of a wonderful place supports you and raises the selling price as soon as the property appears in an acceptable form.

3. Invest in existing buildings:

 Be careful with regard to real estate that may suffer from structural defects as a result of use or obsolescence. It is very important to stay away from investing in any property that has fundamental problems, such as a bad roof, bad drainage, or a corrupt electrical system, as the cost of fixing these problems will eat up any profits you can make.

4- Cooperate with contractors and experienced people in the market:

 Especially trusted craftsmen, as you always need their services and advice, provided that you are careful in your choice so as to reduce the cost price, and seek the help of reliable workers who work hard.