Paper Title
Determining of the Most Critical Factors to Stakeholders in Real Estate Investment

Investments in real estate have always been and, apparently, will be an important component in the portfolio of both large investment companies and individuals, as well as of great importance in the country's economy. Despite the historical view of the security of investment in real estate, this kind of investment requires a detailed study of the market, processes and all sorts of factors that affect market participants. The goal of the authors is to identify the main factors; analyse how exactly they influence investments in different time intervals. Also identify the direct and indirect risks that a potential investor may face. The paper describes the fundamental differences between real estate investments and other types of investments, suggests various types of real estate valuations, identifies critical factors affecting market participants, and systematizes the main risks that an investor must take into account. The results show the special importance of planning cash flow when calculating real estate investments, as well as taking into account other direct and indirect factors. The described methods and results can be of practical use for both private individuals and investment companies. Keywords - Investment in real estate, critical factors, risk analysis, financial leverage.