According to experts, home prices are still rising. It 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 that you can enter into with a lower investment. Here are a few of them.
One service that you can start offering is being a property manager. While being a landlord is a popular move for real estate investors, it can also be a lot of work. They will have to listen to tenant complaints and maintain properties. It is even worse with multiple properties. This situation is where you come in. As a property manager, you can charge a reasonable fee for all the landlord’s duties and extra tasks. It is an attractive offer since it eliminates much work for property owners. For you, it is like acting like the landlord without owning any property and with lower revenue. This approach is great because it only requires some training and minimal investment
Stage houses for sale or rent
Becoming a house stager is another potential business. Presenting houses as they are is not a smart move for sellers. Instead, they hire house stagers so that their home looks better. As a business, you only need skills in staging, contacts with local resources, and paying fees like licenses and home staging insurance. The biggest challenge is ensuring that you have the skills for it. You’ll need to hone your eye to make houses look their best.
Take pictures of the real estate property
Another service that is similar to house staging is being a housing photographer. You see a lot of photographs of houses on real estate websites. Professional photography can make the difference between catching a buyer’s interest or ignorance. It can be surprising how some good camera angles and lighting can make a house look more impressive than it is. Your principal investment in this business is good cameras, lighting equipment, and even a drone if you want to offer overhead shots. Considering the daily listings, you can be sure of a constant stream of customers.
Inspect and appraise
You can also profit from the buying process itself. Buyers and sellers want accurate prices and suitable properties. Inspectors and appraisers do similar jobs and will always be in demand. Inspectors check a property and look for any glaring problems that need resolution. Appraisers focus more on the monetary value of the property. For buyers, they help with product negotiations. Sellers still need an appraiser to check if they are getting a good deal. You’ll need some training and credentials, but it can be very profitable in the long run.
The real estate market might seem fragile now, considering everything happening worldwide. 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 significant market change as long as you do it right.