Real estate industry - how to survive?

[Suzanne83618]

How would you judge the profitability of real estate industry?

Is it time dependent, Tactical, or situational?

Time dependent as in - more time you've tied up money in real estate more profits you could gain. As real estate value appreciates day by day.

Tactical as in - Buying or selling the right property at the right time

Situational as in - not sticking to a preplan but being flexible enough to make real estate investment decisions as and when they are needed.

Is it maximizing sales or minimizing costs?

Maximizing sales as in - finding the best buyer, selling to the highest bidder.

Minimizing cost as in - using low cost alternatives for construction, low cost advertisement, save costs on legal matters.

Do all matter for survival or is it some matters a lot and some not much?

[barrydalive1]

Minimizing cost is so important in times like these. It's the best thing you can do to save money in your business until things rebound.

[Raynar]

What are the various professions in real estate industry like

Real Estate Agents
Builders and Developers
Architects
Interior Decorators
Vaastu Consultants

What are the other popular professions that I have missed to mention above?

[jackdowson]

Hi

I believe that Purchase when you got Budgets and No one is buying. Sell When u have no money left and Everyboddy else is Buying.

__________________
Jack Dowson
Real Estate Agents (http://www.buyersagent.net)

[AustinRealEstate]

It's boom or bust typically. In your early years that is much more the case. Once you've gone through a few cycles you generally have past clients to fall back on and you are much more careful to plan for the ups and downs. Right now, in Austin anyway many many agents are being shaken out of the business. Also, severl home builders are hurting. Kimball Hill Homes just shuttered operations (http://www.affinityproperties.com/wordpress/2008/12/03/and-so-it-begins/).

Joe

[saluha]

But, no real estate business has impact because crisis. How do you solve this problem? what are aim you will do for this situation?

[TheDoctor]

being tactical is always important. you just need to decide what purpose youre buying for. To flip, to live in it, to buy it for your kids, or just to invest and rent it. This will also help you choose a location.

For example, to live in it, buy wherever you want. But if you want to rent, buy near a college where there will always be a ready market.

Long term investing and short term flipping are both good investments, so long as you get in at the right time. And out.

My advice is, do the research and find a good area. There is always a good area to buy in.