A booming real estate market can be a great time to jump into the business. The mistake that many people make is that they focus only on the glamorous and profitable business of buying and selling property. But there are adjacent businesses that can benefit from a solid real estate market. It can allow you to benefit from high demand without risking as much money.
Here are several business ideas that should work for you.
Building and Repairing
Selling real estate means selling houses. Real estate developers often buy empty lots or low-quality houses to refurbish and put up for sale. There is a major business opportunity there. For those skilled with their hands and can do manual labor, building and repairing can be a solid source of income. Have a solid enough reputation, and developers will be coming to you. Additionally, you don’t even need to know how to build. Home builder franchise opportunities can be worth the investment. You simply act as the manager for a group of laborers. Keep them on track and under budget, and you will earn big bucks.
While people often hunt for real estate to buy the old-fashioned way, modern life can get in the way. They may not have the time for it. This is where your services can potentially come in. Either working with a real estate agent or an independent client, you can offer services as a property hunter. You go through the listings, go to interesting properties, and then write a report on your findings. Some property hunters can help narrow down the search a lot. You can be paid a flat fee or a commission so that you can make people’s lives easier.
Cleaning Things Up
A lot of houses for sale are empty and unoccupied. This can mean that the place is dirty and not at its best when visitors come. So it is in the owner’s best interest to keep things clean and shiny. This is where you can offer your cleaning services. This is similar to how a normal can be kept clean. The big difference is that the house is empty and should be easier to clean up. An empty house cleaned to perfection should take an entire afternoon or two.
Buyers don’t want to buy a lousy house that needs repairs. The additional expense of fixing them would require more money spent. But a house inspection by amateurs can miss a lot of potential issues. It can be profitable to take a home inspector course and get professional certification to become one. You can then offer your services as a home inspector to local real estate agents and house buyers. It is not just houses for sale that may need an inspection. Homeowners might also seek your help to find out what is wrong in their homes.
Another potential business is being a property manager. Landlords don’t just buy one property anymore. To generate revenue faster, they buy multiple ones. The big problem is that a landlord with various properties or even distant ones can’t properly care for them. They can’t do inspections, visit tenants, and more. This is where being a professional property manager comes in. You offer to act as the landlord for them in exchange for a fee. It can be a difficult job but you shoulder little monetary risk in this business. You simply do your best to keep both tenants and landlords happy.
Moving Things Around
Buying and selling homes create a major business opportunity when all the contracts are signed. This is usually when the seller has to move out, and the buyer moves in. If they have a substantial amount of belongings, then they will need help. A moving service can do a lot of business with people like that. You can offer local and long-distance moving services. All you need in the beginning is a good moving truck and some good workers that can handle carrying heavy boxes. You can also offer storage services so that those who don’t have space in their new home can store some of their belongings.
An interesting approach is to ensure that you can make money from the real estate market even if you aren’t that good at selling. Many people miss out on these potential business opportunities, so you should look at your abilities and see what you can bring to the table when it comes to real estate. It can range from being good at photography for house photos to have enough flexibility to be a live-in house sitter. Consider your options and they might surprise you.