The right real estate investment moves to keep in mind

Even with the world in economic turmoil due to the global health crisis, Eugene Bernshtam reminds everyone that they should never stop learning. In line with this, he shares tips to newcomers in the real estate industry on how they can make the right decisions when the world gains a sense of normalcy once again.

On that note, here are some important points to remember when investing in real estate.

Allot time to focus on home inspection.

Hiring professional home inspectors may cost a bit of cash, but Eugene Bernshtam believes they are worth it, especially if they find issues at a home that may turn out to be serious flaws. Serious construction problems may end up costing investors a lot more than the market value of the home.

Do background checks on tenants.

For people who have invested in an apartment complex, insist on having the landlord do background checks on prospective tenants. This is more of a safety measure. It is important that people who are accepted as tenants have good credit standings, no serious criminal history, and are generally responsible citizens.

Be patient with the ROI.

While real estate is one of the most reliable industries in history, Eugene Bernshtam explains that, like any other investment worth investing in, it does not yield instant returns. Investors need to be patient and keep the property value up. If they do everything right, they will see an ROI and a steady flow of cash after.

Real estate developer Eugene Bernshtam is also into car collection and restoration. He is among the Illinois Secretary of State's licensed auto dealers and currently holds membership in both the Ferrari Club of America (FCA) and the Lamborghini Club of America. More on Eugene’s work and interests here.