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By Expert Panel, Forbes Real Estate Council for Forbes | Read the original article here

Most of us never encounter the ever-evolving real estate market aside from buying or selling our first house. Non-specialists therefore don’t have an understanding of the kind of money an average person can make from the real estate market with smart investments and wise transactions.

Turning real estate into a fortune isn't impossible. However, the average person needs to know a bit more about the skills required to make as much as possible from the market. To help out budding entrepreneurs who think the real estate market may be their golden goose, 13 professionals from Forbes Real Estate Council examine how an average person could potentially make a fortune in real estate and what they need to know to get started.

1. Buy Your Home

Oftentimes, being a homeowner can be one of the best ways to build wealth for the average person starting out. FHA loans provide first-time homebuyers with fantastic opportunities for low interest rates, low down payments, in addition to all the tax benefits, such as writing off interest and a slew of other things that come along with that. Do your research and work with a realtor to understand your market. - Ari Rastegar, Rastegar Property Company

2. Consider Passive Investing

Real estate investing can feel complex and out of reach. One way the average person can start making money in real estate is through passive investing. For as little as $500, you can get started by investing in a real estate investment trust (REIT). The REIT raises funds from a group of people to purchase properties, which gives you diversified exposure. - Zachary Maurais, Sunroom

3. Build On What You Have

Live in your primary residence for two years, then sell the property and move to the next property. Use the proceeds as a down payment on an investment property, and you can still qualify to buy another primary residence. After another two years, sell the primary residence again and use those proceeds to buy another investment property. Rinse and repeat! - Nancy Wallace- Laabs, KBN Homes, LLC

4. Learn To Recognize Opportunities

Long-term investments can yield amazing results when the property acquired is carefully selected. In expanding cities, purchasing land in the peripheries of the city often yields excellent results and is more accessible in price. As the city's population begins to grow, the cost of the property will naturally go up. Evaluate which areas of the cities are expanding and consider investing there. - Rodolfo Delgado, Replay Listings

5. Invest With Experienced Investors

Look for opportunities to invest with others. After realizing that many of our clients would also like to invest with us, we created a syndication model that allows first-time investors and experienced investors to invest together. This allows inexperienced investors to get their feet wet and invest a smaller amount as part of a syndicate. We take on flips to large-scale development projects. - Kofi Nartey, The Kofi Nartey Group - Compass

6. Look For Good Probate Property Deals

As the baby boomer population continues to increase, more and more houses will be inherited by people who often do not want to keep those properties. Investors will be able to find good deals by working probate leads, especially as the number of leads continues to increase. - Kristine Gentry, US Probate Leads

7. Buy Land On Busy Streets

The land on busy streets is usually always among the first properties to get redeveloped. When they do, you can see massive returns. I have seen properties return 10 times the initial price in under five years. Remember to think long term with real estate. Also, you do not have to own where you live if you can invest in an area that can give you a better return as a rental or holding property. - Chris Ryan, Beyond Properties Group (eXp Realty)

8. Invest Time In Communicating

It’s important to stay in tune with market trends. Real estate is one of the best investments a person can make, and it’s crucial to communicate with your client about what, when and where to invest. Our client-centric model relies on transparency, which helps us build long-standing relationships and ensure we’re involved when our clients buy, whether it be a first, second or third home. - Cody Vichinsky, Bespoke Real Estate

9. Buy Half-Baked Properties

It's not ready yet! Take a look at future development plans in your county or city. Purchase in an area where there are plans for future economic development. Once that area becomes developed, real estate trends historically show larger equity over time with higher net proceeds, especially in major cities with gentrification. - Cheryl Abrams, Re/Max United Real Estate

10. Make It A System

Real estate is a formula. Once you start to understand it more, most people can leverage a system that has the opportunity to yield high rewards. Each market has a niche and each person has their tolerance. Find out what those are and execute a clear game plan. It doesn't have to be sexy or revolutionary; it just needs to produce the right returns. A good product and a consistent approach will do. - Alex Vasquez, Rhino Realty Property Management

11. Buy At The Right Time

You hear stories all the time about people buying a property 20 years ago for a fraction of the price it's worth today. Buy a property that is in a good area for the right price and hang onto it. Appreciation isn't guaranteed, but it's beautiful knowing how much equity you have in a property years down the road and how the value has gone up over time. - Mike Hambright, FlipNerd.com

12. Pool Your Resources

Most assume real estate is an individual sport, but it’s just the opposite. As a team, you can pool people and their cash to form a legal entity, such as an LLC. You can also pool expertise and delegate responsibility while building a portfolio that is positioned to generate passive income and appreciate. As an added bonus, holding property as a legal entity better protects against unforeseen lawsuits. - Jennifer Anderson, Anderson Coastal Group

13. Be Patient

Real estate investing is not a quick game. If properties are bought with the right mindset in smart areas, it's entirely reasonable that an investor can buy properties, rent them out and see substantial profits in the long term. The key is to find opportunities that work in the long term and commit to your decisions by staying the course and letting others pay for your investment. - Blake Plumley, BluWater Capital LLC

By Forbes Council Contributor for Forbes | Read the original article here

According to the Global Wellness Institute, the international wellness market is worth $4.2 trillion (more than half of the world’s total health spending), having grown 12.8% between 2015 and 2017 alone. Among the ten most lucrative industry segments – including fitness, personal care and nutrition – wellness real estate is a large and growing market. Valued at $134 billion, the wellness real estate market comprises 1.5% of the world’s construction industry and about half of its green construction industry.

Wellness real estate developers are building homes and offices that are designed and constructed to optimize their occupants’ physical and mental health. By utilizing low toxicity materials, installing IoT appliances that facilitate healthy choices (smart refrigerators), and conceptualizing floor plans and rooms specifically designed for healthy activities (exercise, meal preparation, meditation), these spaces may drive measurable increases in both the quality and duration of people’s lives.

Forbes Real Estate Council member Kofi Nartey is the national director of the sports and entertainment division of Compass, a real estate technology company operating in 17 regions across the United States, including New York, Los Angeles, Washington, D.C., Miami, Seattle and Philadelphia. Overseeing a national team of luxury real estate agents serving distinguished clientele, Nartey is at the epicenter of the celebrity housing market. He says builders and developers who embrace wellness real estate will have an advantage in saturated markets.

A large part of Nartey’s success stems from constant immersion in new technology and trends. “I have to stay on top of what's next so I’m able to provide guidance to builders on everything from wellness rooms to circadian lighting. Even simple things, like secure food and product delivery areas on porches (with controlled access from smartphones), can bring more value to clients and greater profits to my developers,” he says.

Every wellness update counts. Recently, Nartey says, the installation of a smart refrigerator became the main selling point for a client’s new construction home. “The purchasers cited the refrigerator as a deciding factor, because they could order groceries and receive updates on items they needed from the refrigerator’s touch screen. More importantly, their kids could watch videos on that same screen while dinner was being prepped. That bit of calm for a parent is a game-changer,” he says.

By Forbes Real Estate Council for Forbes | Read the original article here

The market is always fluctuating in some way, but in order to be successful, you must be able to separate signals from noise when trying to understand developing trends. Doing this, however, can be a challenge—you need to know what to look for, as well as what sources you can trust, when you're doing your research.

In order to help shine some light on what you need to know, members of the Forbes Real Estate Council, below, discuss some ways they recommend staying on top of market trends and fluctuations, as well as discuss why those approaches can help. Here's what they said:

1. Focus On Your Specific Market

Most market fluctuations and trends that get reported are general and not specific to a particular market. Cities in a region are all micro markets. Even the street to street can yield different market stats. Make sure the information you are referencing or relying on is specific to your market and your goals. - Kofi Nartey, The Nartey Group - Compass

2. Find Experts And Bearish Cynics

In commercial real estate, there's a cacophony heralding opportunity zones articles every day. But, speak to a tax specialist and you learn that the rules aren't finalized. Talk to fund organizers and they're not yet buying. Want to separate the action from hype? Find experts and the bearish cynics, and if there's more talk about a "moment" than definitive action, that's your guidepost. - Kristin Geenty, The Geenty Group, Realtors

3. Watch The High-End

Markets are about money. When appreciating, the market moves from the bottom up. When money is available, the lower, mid and high-end are doing well. In a downturn, if the high-end is lagging, it's an indication that the cycle is in decline. A strong, low and mid-level price market is still possible while high-end is in decline, but it's a sign of an overall negative trend. - Thomas McCormack, Resources Real Estate

4. Listen To Your 'Boots On The Ground'

Real estate is a people business, so always remember teamwork makes the dream work. The people on the ground are the ones that are going to be your eyes and ears for a particular market. They are also going to be more of an asset compared to anything you read online. If you select the right market and people they can give you the inside scoop on a daily basis and more. - Engelo Rumora, List'n Sell Realty

5. Educate Yourself About The Economy

As investors and advisors, we need to understand the overall economy to determine what is actually a "signal" or indicator of where the market is headed versus what is just an anomaly or noise and inaccurate analysis. By continuously educating ourselves and looking beyond just the numbers and stats, we are able to add value for both our own portfolio and our clients' requirements. - Catherine Kuo, Elite Homes | Christie's International Real Estate

6. Trust In The Numbers

Cold, hard data never lies, and the market is always in flux. So, dig deeply into recent sales data, including comparable percent changes over a 6 to 12 month period, to reveal the real market trends that are impacting your potential opportunities. Focus on property type and micro-market data trends to find the real-deal information that will confidently guide you when setting your sale or purchase target. - Garratt Hasenstab, The Mountain Life Companies™

7. Check Your Sources For Credibility

Seek data from multiple sources, look for consistent conclusions supported by more than one data point and consider sources’ credibility. A research report or national news story should carry more weight than the views of an unknown blogger. All sources are not created equal, and we need to be cognizant of a source’s credibility to cut through today’s content-hungry, 24/7 news cycle. - Gary Beasley, Roofstock

8. Study Ratios

Data by itself is only partially useful. What's interesting is how they relate to each other. I like to look at the ratios, which combine several different market stats to really distill down what's going on. For instance, price per square foot is somewhat useful, but price per square foot per square foot will plot out how increased size will diminish the standard PPSF value. - Ari Afshar, Compass

9. Research Master Plan Documents

When I want to get up to date on market trends, I check in on material updates to master plan documents in metropolitan areas with the most population growth. Master plans are the guiding documents for community development and can usually be found on the planning and zoning or development websites for most cities or counties. Maricopa County was the fastest growing county in 2018, which is a good place to start. - Bryan McLaren, Zoned Properties, Inc.