9 Lucrative Businesses in the Real Estate Sector
The real estate sector has a wide range of businesses that people could invest in. Such enterprises contribute to the growth of the property sector and in the overall growth of the economy.
Emomeri Maryanne
Even without owning property, you can still make money from the real estate market. Highlighted are some of the businesses. Some require a considerable amount of capital while others just need the required skill to start and maintain the business.
- Hardware Store
This is one of the most lucrative businesses in the property market. The hardware store makes all the building materials available to the builder. Some hardware contains both local and imported goods. Tiles, metal bars, roofing nails, mason tools, Cement, iron sheets, toilet seats and different types of woods are some of the things one can stock in his hardware store.
- Real Estate Agent
A real estate agent is someone who helps property investors sell or rent their properties. To be a real estate agent, you have to have a good knowledge of the area(s) you will be working on. This is because questions about that particular place will arise. You must also establish a rapport with people of that area so that they can refer clients to you.
- Property Flipping
The property flipping business involves buying a property with the intention of selling it at a higher price after a short period of time. The property flipper can either buy a house, and do some repairs or renovations and then sell it at a profit, or he can buy the property where the home value is raising quickly and then sell after a few months or a year.
- Brick making
This is yet another lucrative business venture that is slowly gaining momentum. Depending on the type of brick and location, one brick can range from 10 shillings to 35 shillings. In areas where the price is low, the resources are readily available and there’s high competition. Where the prices are high, the resources are hardly available. The process of brick making involves a lot, but the business is one that pays off. Here is the story of one teacher who earns a fortune from brick making.
- Real Estate Photography
Photography is one of the business ideas that require mainly the skill of photography and photo editing. Real estate photographers could focus on showcasing houses or buildings that are on the listings and even the landscape and the environment surrounding the properties. Such photos can be used on websites, blogs or on catalogs in real estate investment companies.
- Property Management
Property management companies help real estate investors in taking charge of their properties as they invest their time in other things. It involves collecting rent, dealing with tenants’ complaints and maintenance of the property.
- Real Estate YouTuber
The only thing real estate YouTubers have to do is provide relevant and useful content through their channels and earn. But it is never that easy, just like any business, you have to draw people’s attention and convince them to trust you. With a YouTube channel, you can choose to focus on one specific area or focus on multiple things. For instance, you can have property listings, you can give real estate advice, you can interview property gurus and do so many things.
- Moving Company
This type of business requires you to have a moving truck or trucks together with manpower. When people move from one house or office to another, you will be the person to do all the work. In a bid to find more customers, moving companies now offer clients extra services such as arranging the goods in the house/office. You can limit your service to a particular city or make it a countrywide business.
- Cleaning/Landscaping Company
The Industrial cleaning business is growing. When people are busy in the office or they want to move to a new place, they don’t have time for large-scale cleaning, and so they seek such services elsewhere. Such companies offer cleaning services for offices, houses, or clean places after big events. Some cleaning companies also offer services such as lawn mowing, painting and landscaping.
Before investing in any of these businesses, it is important to study the market and identify the competition. Get an idea of the challenges you are likely to encounter, and then get into the business.
Even without owning property, you can still make money from the real estate market. Highlighted are some of the businesses. Some require a considerable amount of capital while others just need the required skill to start and maintain the business.
