Three Real Estate Investment Mistakes To Avoid

Most, if not all, financial consultants will advise building a real estate portfolio. This is especially true for those new in investing. The reason is due to real estate’s inherent stability. For the most part, political and economic climates rarely affect one’s investments. That said, there are still a few things to avoid.

Define as you go: One of the worst mistakes one can make is defining or redefining plans as one goes. Real estate is not something that can be mastered on a whim. It must be thoroughly researched and managed. This means creating and sticking to a plan. Remember that real estate should be taken as an investment strategy rather than a transaction. A good tip to remember is to create a plan and then work backward.

Image Source: biggerpockets.com

Think short term: Real estate is a good investment, but it takes time to grow. Those interested in a get-rich-quick scheme should change their thinking right away. Many mistakes are made because investors think too much on their return rather than what they can get down the line. Real estate still requires hard work, financial intelligence, and a steady risk tolerance.

Image Source: biggerpockets.com

Think as one: It might seem like a good idea at first, but the most successful real estate investors are those who build the right team of professionals. At the minimum, this means creating a relationship with a real estate agent, a financial consultant, an appraiser, a home inspector, an attorney, and a lender. This team expands when one furthers the reach to remodeling and maintenance.

Take note that real estate investing is a lucrative and stable endeavor but one that still needs the assistance of a financial professional.

Learn more real estate investment advice from Bharti Jogia-Sattar, a respected accounting consultant who specializes in the real estate industry. Subscribe to this blog for more information.

Organizational Development: Its Role in Efficiency and Productivity

Becoming an increasingly influential field of practice in private companies and public service is organizational development.  It is a holistic approach of implementing planned, systemic changes in the principles, values, and beliefs of everyone in the organization to drive growth and efficiency.
By applying organizational development strategies, the company can experience the following benefits amid an ever-changing market, industry, and technology:
 
Increased communication
Organizational development can improve communication and interaction among everyone in the company, which consequently aligns their own values and habits with the corporate vision and goals.  Candid communication, which promotes camaraderie and productivity among team members, can also be fostered.

Image source: thehumanvantage.com

 Employee development
One of the results of organizational development is a conducive environment where employees can perform to the best of their abilities, and without wasting much resources.  This is achieved through the creation of learning, training, and skills enhancement programs and improvement of work processes.
  Continuous improvement
Engaging in organizational development entails a commitment to a continuous cycle of improvement towards more efficient and effective processes.  Quality control measures and change management programs are implemented to comply consistently with company standards.

Image source: thescholedge.org

 Product and service innovation Organizational development is essential to product and service innovation as it provides the opportunity to analyze each step of the development of products and services, and then the formulation of methods that boost efficiency.

For 22 years, Bharti Jogia-Sattar has been a financial executive and accountant working in the greater Los Angeles metropolitan area.  For more information about her, visit this blog site.