5 Lucrative Real Estate Business Ideas to Contemplate
Many people fear taking up opportunities in the real estate niche because they are perceived to be high risk. What they don’t know is that real estate is not all about selling houses. Many other ways exist that they can make money in the real estate niche. That said; here are great business ideas that you can leverage to make money in real estate.
Real estate business ideas: Property management
Some people still think that you have to actually own a property to be able to make money off it. This is a big misconception. There are many ways you can make money in the real estate business without having to own a single property. One way is through property management, which involves upkeep, maintenance and in numerous situations, rent collection on behalf of the property owner. You then get a certain percentage of money as commission after full rent collection. While it’s a great business idea from home, it’s a good idea to have an office in a specific location. This is because you’ll need a place to store cleaning supplies, paint, drywall, and other maintenance materials used in the real estate niche.
Real estate business ideas: Real estate photography
If you thought all real estate business ideas deal directly with the property themselves, think again. There are cool real estate ideas that involve creating awareness of a property. Real estate photography is one way to create awareness about a property. In this day and age where most business is happening online, clients will want to see photos of the property before they come to see it for real. So real estate photographers have to snap high-resolution photos of real estate property and plaster them online for clients to see.
Real estate photographers are mostly paid by the number of hours they shoot photos. The larger the house, the more hours the photographer will garner, as a larger house requires multiple shots. The vast majority of real estate photographers have their base of operation in their homes, although most of the photography work takes place on-site.
Real estate business ideas: Bird dogging
Real estate investors are always keeping an eye out for the best deals to get reasonable profits. The rise of real estate investors looking for great deals has skyrocketed, and this is why a profession called bird-dogging has come up in the real estate niche. These professionals earn a certain percentage of the deal as commission, or they can agree with the investor on a flat rate. However, you should know that bird dogging is not an easy profession. That’s because real estate investors don’t really pay for information that is already out there. But smart bird dogs search for property that is not yet listed and present it to real estate investors. This can be a full time or part-time profession. It a low-cost profession as you can work from the comfort of your own home.
Real estate business ideas: property flipping
Property flipping is the act of buying a house that is out of shape, and then remodeling it and selling it for at a higher price. Property flipping also involves buying a property at a lower price and selling it at a higher price. Property flipping is the cream of the crop of real estate business ideas, as it has the potential of bringing in massive profits.
Real estate business ideas: Real estate agent
Real estate agent is a profession that has been there since the onset of modern property market. Unlike other professions within the real estate niche, it’s not easy to become a real estate agent as you have to undergo formal education and acquire state certification. With this profession, it’s really hard to work from home.
Real estate business ideas are plenty. The ones highlighted above are just some of the most popular. You can create a profitable business out of these ideas. The hardest part is usually to take the first step. Start on the path of creating your real estate early so that it can deliver impressive profits in the near future.