If you are an aspiring entrepreneur and are looking for a great business idea, one of your best options would be to invest in a restaurant franchise. There are plenty of reasons for this. First, everybody likes food. As a result, it is a business that, if managed properly, will never go bankrupt. Second, a restaurant is a place that brings people together, be it friends, colleagues, or family members. As such, it is a valuable service to society.
But what if aside from owning an eatery or another kind of commercial property, you could also be involved in the real estate industry as a whole? Wouldn’t that knowledge better serve you in managing your existing enterprise?
The answer to both questions is yes. After all, the more information you have, the better decisions you will be able to make. And the better decisions you make, the more profitable you will be.
With that in mind, let us look at three interesting real estate career options you could look into, either full or part-time.
In simple terms, a property appraiser is an individual or entity in charge of gathering relevant information to determine the value of a residential or commercial property. As an appraiser, there are three main job options to choose from. First, you could work privately. It means you have to find your own clients and promote your services to them. Even though this might sound difficult to do, it is the career choice with the highest income possibility.
Second, you could work for a real estate company in the appraisal department. In this scenario, the business would be in charge of finding your clients, and you would earn a salary based on the firm’s contract stipulations.
Third, you could work either for the government or a public or private financial institution such as a bank or a licensed mortgage enterprise. In this case, appraisals are often done for tax purposes or other legal matters.
Whichever you choose to do, keep in mind that you can focus on residential properties, commercial establishments, or both.
With the enormous growth of Airbnb and other online rental marketplaces, there is no better time to become a residential property manager.
For instance, let us imagine you live in an exotic global vacation hotspot such as Montego Bay in Jamaica, Bangkok in Thailand, or Buenos Aires in Argentina. If that is the case, there are probably tens, if not hundreds of available properties for rent throughout the year.
One thing you could do is put up your property on Airbnb and do whatever you can to promote it to both local and international tourists.
Even though this is not a bad idea, a better one would be to contact a few other landlords and offer them your property management services. It would include communicating with guests when they are not around, making sure everything is running properly, and dealing with any emergencies that might arise.
The benefit of doing this is that you are receiving an income for every property you manage. Besides, you are building a valuable international network that will help you in any future endeavors.
International Real Estate Agent
Who says you can only find tenants and buyers in the city where you live? Does it even have to be in the same country? A few years ago, answers to these questions would have been yes. But that is no longer the case.
We live in a globalized society driven by technological development. As such, distances have become shorter and your place of residence is often not the same as the country in which you do business.
There are many advantages to being an international real estate agent. The biggest one is that you have access to a much broader market. As you might be aware, local markets can and will mature. Yet, if you look at the industry from an international perspective, there is still plenty of room for expansion and many possibilities to make a good living.
The key is building the right network as well as having the cultural awareness to understand different customers from different nations. If you do this, there is no reason for you not to succeed.
As we have seen, there are many interesting paths to explore in the real estate industry. You could become a property appraiser or manager. You could also look into working as an international real estate agent.
Whatever you decide to do, you will be joining a growing industry filled with excellent possibilities. As long as you work hard, get the relevant information, and put yourself out there, it is a wonderful career path to consider.