• Mon. Nov 28th, 2022

Business ideas that take advantage of the booming real estate market

ByWillie M. Evans

Jul 30, 2022

According to experts, house prices continue to rise. This means that the real estate market is still healthy enough to be profitable. However, investing in real estate can be risky and expensive. Fortunately, there are several businesses you can get into with less investment. Here are a few.

Manage properties

One service you can start offering is being a property manager. While owning a home is a popular decision for real estate investors, it can also be a lot of work. They will have to listen to tenant complaints and maintain the properties. It’s even worse with multiple properties. This is where you come in. As a property manager, you can charge a reasonable fee for all additional landlord duties and tasks. This is an attractive offer because it eliminates a lot of work for owners. For you, it’s like acting like the owner without owning property and with less income. This approach is great because it requires minimal training and investment

Stage houses for sale or for rent

Becoming a house stager is another potential activity. Presenting homes as they are is not a smart move for sellers. Instead, they hire house stagers to make their house look better. As a business, all you need is showmanship skills, contact with local resources, and payment of fees such as licenses and home staging insurance. The biggest challenge is making sure you have the necessary skills. You’ll need to sharpen your eye for houses to look their best.

Take pictures of the property

Another service similar to house staging is being a housing photographer. You see a lot of pictures of houses on real estate sites. Professional photography can be the difference between capturing a buyer’s interest or ignoring them. It can be surprising how good camera angles and lighting can make a home look more impressive than it is. Your main investment in this activity is good cameras, lighting equipment and even a drone if you want to offer aerial shots. Given the daily listings, you can be sure of a constant flow of customers.

Inspect and assess

You can also take advantage of the buying process itself. Buyers and sellers want accurate prices and suitable properties. Inspectors and assessors do similar jobs and will always be in demand. Inspectors check a property and look for any glaring issues that need to be fixed. Appraisers focus more on the monetary value of the property. For buyers, they help in product negotiation. Sellers always need an appraiser to check if they are getting a good deal. You’ll need some training and skills, but it can be very profitable in the long run.

The real estate market may seem fragile today, given all that is happening in the world. However, if you operate an adjacent business, you won’t be at as much risk. The ideas above should be profitable enough to survive any major market shifts as long as you do them right.

Image: https://unsplash.com/photos/f9qZuKoZYoY