Real estate investment stage 1, investment analysis
Real estate economic activity is a process of a large number of capital movements. Once the investment decision is made, capital investment is an irreversible and continuous process. Accurate investment decision is the key to ensure the success of the whole development project. On the other hand, mistakes in investment decisions will lead to huge losses. Therefore, prudent decision-making is a necessary prerequisite for real estate development and operation. To ensure the success of investment decision, we must do a good job in feasibility analysis and research on the basis of market analysis and financial analysis. (1) market analysis. The focus of market analysis is to estimate the demand intensity and competitive environment of the real estate products to be developed in the investment plan. The research on the market is helpful to correctly estimate the future real estate income, and then help investors to correctly calculate the future cash flow in financial analysis.
(2) Financial analysis. Investors estimate future real estate income through market analysis, and then estimate future cash flow. Therefore, the main purpose of financial analysis is to calculate the expected rate of return through the estimation of cash flow, and compare the obtained results with the required rate of return to determine whether the investment is feasible. In addition, the financial analysis and estimation of thldl.org.cn real estate investment risks to determine whether the risks and expected returns are within the acceptable range of investors.
(3) Feasibility analysis. Feasibility analysis is a comprehensive step. Investors should not only use the results of the above market analysis and financial analysis, but also study and judge its feasibility, and also study the relevant laws and regulations of construction and land use to understand whether the investment plan is feasible in terms of laws and regulations, the current form of property rights and the acquisition are feasible. Moreover, it is also an important key point to obtain a huge source of funds for real estate development.
Therefore, only after the feasibility analysis in the planning stage is determined can the whole planning be put into practice and the next investment procedure be continued. Investors must understand that in the process of plan evaluation, some changes may be made due to their restrictions. Therefore, investors can't treat the feasibility analysis as a simple process of acceptance or rejection, but actually include the function of re-evaluation and correction. Usually, in some large-scale projects, in order to ensure the success of investment decision-making, the feasibility analysis should be studied repeatedly. Before making a formal decision, the feasibility study can be carried out to ensure the accuracy of investment decision-making.
Real estate investment stage 2. Obtaining land development rights.
This process includes the acquisition of land use rights or property rights and bargaining procedures. When the investment plan is feasible during the planning period, the acquisition form of land use right is the focus of investors' next consideration, such as complete buyout, cooperative development, partial use right (such as superficies) or long-term lease. While determining the form of property rights, it is necessary to carry out the procedures of acquiring land and bargaining with the landowner to determine the acquisition cost of property rights. In this process, whether to take land from the primary market or buy land from the secondary market through leasing, the specific legal procedures are different, and each link should be clear to avoid unnecessary disputes. In addition, because real estate is a good collateral, its acquisition cost is usually very huge. Most investors use financial leverage to acquire real estate property rights, that is, to obtain funds from financial institutions. Different financial institutions have different credit costs and financing conditions, so when carrying out financing activities, it is necessary to evaluate investment plans and various financing opportunities in detail to choose the most favorable financing method.
Real estate investment stage 3, real estate construction and development
Real estate development, first of all, must obtain the permission of government project establishment and planning. Project establishment and planning involves capital operation and various supporting conditions such as water, electricity, coal and roads, which is a very complicated but very important work. In the whole process of real estate development, together with investment decision-making and land use right acquisition, it is also called pre-development work period. After the above preliminary work is completed, we can enter the substantive construction and development stage. The future work is to design according to the planning and development requirements, and then find a builder to build it. In the whole construction process, investors must carry out necessary supervision or entrust a supervision company to carry out construction supervision. Because the funds needed for development are quite huge, in most cases, investors still have to raise funds from financial institutions to obtain funds. At this time, fund-raising activities have become an important task. How to obtain and choose favorable financing opportunities and financing conditions to ensure the progress and timely completion of construction and development has become the main goal of financing activities at this time.
Real estate investment stage 4, real estate sales and management
The main tasks of the real estate sales stage include:
First, we must have a sound marketing plan. Including determining the buyers in the target market, formulating appropriate marketing strategies and marketing organizations in order to sell smoothly.
The second is the actual sales activities. Including various promotion methods according to market conditions and possible conditions, as well as specific procedures such as signing contracts, collecting deposits, and transferring registration.
The third is financing activities. Due to the huge amount of real estate, in the promotion process, it is often necessary to arrange favorable financing schemes for buyers to attract buyers. Therefore, financing, especially housing mortgage loans and various installment activities will also become an important work at this stage. At this stage, some developed buildings can also be operated as properties, that is, for profit, if they are not for the purpose of sales or because the sales conditions are not ideal.
The forms of management are mainly divided into two categories:
One is to rent the property to others and collect rent regularly to get income. In this form of leasing operation, investors bear low management cost, fixed income and low risk, but generally speaking, the return may be low.
The second is that investors manage themselves. At this time, investors may get higher returns, but they have to bear the risks of operation and the returns are unstable. The developed real estate should adopt different management activities according to different business forms, such as maintenance, renewal, preservation, payment of various fees and taxes, collection of various incomes and necessary management activities in actual operation. In addition, because real estate is a special commodity with high price and durability, its maintenance property management is not only necessary for after-sales service of real estate commodities, but also an indispensable part of the overall development of real estate. Therefore, what kind of property management mode to adopt and how to do it well are also issues that must be seriously considered in the whole investment process of real estate.