Igor Purlantov is a very successful real estate portfolio investor and manager, having made profits in the United States, Europe, Asia, and the Middle East. He has a proven track record of successfully predicting hot and cold markets before they turn, and as such has made healthy profits along the way. Igor Purlantov would like to share a few of his tips on creating a real estate portfolio for the first time.
The first step in building a real estate portfolio is research. Igor Purlantov spends the majority of his time in this phase. During the research phase you must decide what type of real estate you actually want to invest in. There is such a wide variety of real estate markets that it is impossible to be successful without narrowing down to some extent. A few different types of markets include wholesaling, flipping, renting, and building. Igor Purlantov suggest focusing on one market and becoming really good at it.
You can have the best ideas in the world, but without proper financing you won’t make a dime. Igor Purlantov suggests seeking out potential financing arrangements months in advance of making your first investment. Reaching agreeable financing terms can be a long process, something Igor Purlantov has learned along the way. Igor Purlantov prefers to shop around when getting financing. It’s like almost anything else, the more you shop around the better deal you will usually find.
Dive in head first, but be smart about it. Igor Purlantov claims that the hardest piece of real estate to invest in is your first. The first investment is always the scariest, because often times you don’t really know what you’re doing. Igor Purlantov has found that the longer a person waits, the less likely they are to pull the trigger on a deal. His best advice is to invest in a low risk, low reward property your first time around. You may not make a lot, but you also limit your potential damages. According to Igor Purlantov, the first investment is merely a learning experience.
Once you are comfortable enough with the process to pursue more investments, learn how to diversify your portfolio. Igor Purlantov suggests investing in properties in different markets, at different price points, and with different potential returns. This gives your portfolio a balance, reducing risk and increasing learning.
These are just a few basic suggestions on building a real estate portfolio with Igor Purlantov.