Ever wondered why so many How to make good money in Real Estate Business? Well, i am glad you found this page cos this is what we are going to be talking about for the next 15 minutes. I am not going to say much about this topic, but i promise the tips you’ll be learning from this will give you the needed advantage.
Real Estate business right now is one of the most lucrative businesses in the world. There are hardly any known successful people who, at a point in their lives, haven’t ventured into Real Estate market or do not have shares in the sector. Over forty billionaires in the US owe their fortune to investments in Real Estate sector.
Real estate market is a huge one, encompassing areas such as property sales, acquisition, renting, leasing, and other related services associated with the property business. Due to the versatility of the market, there exist so many options available to entrepreneurs to maximize profit in the sector, and as the world evolves, so does Real estate market.
A lot of newbies thinks Real Estate business requires a massive amount of money to start, but that is not entirely true. You can start a real estate business with minimal or no cash as the market has different niches you can start earning from without putting in so much money.
The most amazing thing in Real Estate Business is, you can cash in on real estate goldmine even as a passive earner; that means, real estate may not be your full-time job yet, you can make money from it still.
Highlighted below are 5 proven ways to help you earn big in Real Estate business and the interesting is, you’ll be learning all for free.
Be A Bridge
Being a bridge is one of the proven ways to earn big in real Estate business. and lol, i am not totally asking you to be a London bridge.
This time, i am talking about you acting as a connecting factor between two people;
A seller/lease of a property and the other who wants to buy/rent the said property.
As a bridge, you do not need start-up capital, all you need is find people who are willing to sell off or lease their properties and those who are eager to buy those properties or rent them at a negotiated commission.
For a better profit margins and faster deal closures, you can find distressed property owners who are in dire need to dispose their properties hurriedly and find buyers who are willing to seize the opportunity of a distress sale.
The exciting aspect of acting in the capacity of a bridge is; you do not have to risk your money to get returns; all you are investing is your time and marketing skills. Plus, you can act in this capacity while you have a full-time job.
Engage in Vacation Rental
If you live in areas that attract a lot of tourist traffic, you can turn your property into an abode for tourists for a fee. This is why Engaging in Vacation Rentals is one of the various ways to earn big In real Estate Business!
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If you already have a home, perhaps one that is even too big for just you, you can place an ad for tourists to come and live in a room at a few you think is reasonable. All you need is your home, with basic amenities like potable water, electricity, a functional toilet, and generally liveable space.
Beyond having people living in your home, you can have properties you specifically developed for this purpose, and it will be a sort of guest house that runs mainly when tourist traffic is high.
It is worthy to note that engaging in vacation rentals may be dangerous, and if you must engage in it, you have to put in security measures to keep you and your property safe when tourists come staying over.
Invest More in Developing Regions
If you can agree with me, i would like to say that one of the many ways to make money to invest smartly, and in real estate, one of the smartest things you can do is buy cheap, and sell when price is higher
Conducting some investigation which you can do by asking around in government offices/agencies or asking experts—you would realize some areas are at the moment, not fully developed but with the location of these areas, more people are expected to move down in a few years.
Areas such as these usually have lands selling cheaply, and if you are patient enough, in a few years, the properties will appreciate, and you can sell with over 80% ROI
Become A Consultant
If you have over the years acquired knowledge in any area of Real Estate market, you can become a consultant in the market, acting as a mentor and therefore conduct training for newbies who want to learn the trade or who need expert advice on how to invest profitably in Real Estate Business.
Invest in House Flipping
There are a lot of houses that go for less than they are valued; these houses could be going for so little because they are yet to be completed or need renovations. If you are opportune to locate such apartments, you can invest in buying them, renovating/completing them, and selling for way higher than your purchase them. This requires a huge capital though
To be on the safe, it best you seek expert opinion on the value of these properties. You can get counsel from a general contractor who can help you put an estimate as to what you will be spending on repairs; this way, you can make a rough estimate of what you are likely to gain or lose in a deal like that.
Invest in Real Estate Shares
A lot of money can be made by buying or investing in the shares of real estate companies quoted on Stock Exchange platforms.
Due to the boom in the market, there has been a steady rise in most real estate company shares over the years, and investors in these companies are reaping huge benefits yearly.
However, as with all shares, there are days when the markets are not very favorable, and you risk losing all your money so, it is best practice to read up and investigate thoroughly before investing your money.
Real estate is a hyper-local venture, and there is no set in stone rules for what works. What works in the US doesn’t necessarily work in Nigeria. However, most of the above strategy works everywhere and can be tweaked to suit your location.