Learn about the best business ideas for real estate. Get expert advice from a real estate entrepreneur.
Business Ideas For Real Estate: Starting a business in real estate can be very rewarding, but also very challenging due to the long hours you need to put in on top of just dealing with clients and managing your property. If you’re looking for something to fill up some of that downtime.
Business Ideas For Real Estate
It can be beneficial to start another business as a side hustle or a side business. Not only will this keep you busy when you’re not out looking at houses, but it will give you some extra income as well! Here are 10 ideas to get you started if you want to start your own side business in real estate
Franchise
There are all sorts of opportunities for small businesses to go global. McDonald’s, Krispy Kreme and 7-Eleven have all franchised their stores and there are many, many more. Franchising may seem like an expensive option, but in reality, it’s not. By choosing a franchise, you’re able to tap into existing resources such as training materials, marketing templates, and even uniforms that come with your store. This can save you thousands of dollars right off the bat and allows you to get started sooner rather than later.
One major bonus is that franchises are typically well known in their respective industries – so it can be a great foot indoor if you want to make a name for yourself in a specific niche. If you’re interested in starting a business in real estate, then why not start by purchasing a franchise? You can do just that by searching online or by looking through Franchise Direct. If you don’t see anything suitable then why not create your own!
You’ll need some money upfront – although depending on which one you choose will depend on how much cash outlay is required – but over time could end up being extremely lucrative. Here are 10 ideas for getting started: 1) Health Club 2) Dog Grooming 3) Florist 4) Moving Company 5) Property Management 6) Home Security Systems 7) Window Cleaning 8 ) House Painting 9 ) Carpet Cleaning 10 ) Maid Service Do you know any other options?
Home Repair
If you’re good with your hands and not afraid of a little hard work, it might be a great time to branch out into home repair. This can be a great way to make some money without breaking your back working for someone else—and if you’re able to get a customer base that sees you as an expert in your area, you can probably work on projects around town and even start taking on employees.
Some ideas: fix leaky faucets or toilets, replace burned-out lights or fixtures, install cabinets, remove the wallpaper or refinish floors. You could even offer your services as part of a house-flipping program and turn old homes into new investments. Visit House Flipping HQ for more information on flipping houses for a profit. Here’s how one real estate investor got started fixing up his first property.
General Contractor
General contractors are a crucial part of any development process and these days, they can be much more involved in each stage. If you have some building experience and are looking for a new career path, becoming a general contractor might be right for you. Generating business can be tough, but if you have great connections in your community.
That won’t matter—you’ll find clients who need to get work done quickly. Plus, since it’s not as capital-intensive as many businesses (since most projects don’t require large-scale equipment), it might allow you to become an entrepreneur without needing to take out loans or acquire lots of funding.
House Painting
Because each home or business is different, house painting services can vary in cost from $2,000 to more than $7,000. The variables involved in house painting projects are numerous, so there’s no single price for a house painting job. And, like most projects around your home, it is best to get multiple bids to make sure you’re getting a fair deal. House Painting Cost Vs Quality Westminster Colorado A professional painter will help you select an exterior paint designed for long-lasting results, superior protection, and ample coverage.
Higher quality paint requires fewer coats and lasts far longer, saving you money down the road. Oil or latex paints in a flat/matte or satin finish make excellent choices for the exterior of your home. These paints will endure extreme weather conditions and can be customized to your specific climate. And are ideal for painting siding. House Painting Near Me Westminster Colorado. My wife and I just painted the interior of our house with about 6-8 gallons, of $30+ per gallon (meaning the good stuff, non-diluted) with absolutely fantastic results. However, we just paid an average of $5 per gallon.
Landscaping
When many people think of starting a business, their mind goes right to find the perfect job, but more often than not, there are better ways to find success. If you love landscaping and enjoy working outdoors, consider starting your own landscaping business. While it may be easier to go through a nursery or store to buy your plants and seeds.
If you do decide to start your own landscaping business be sure that you are providing value beyond just watering a plant or trimming some grass. Although hard work is sometimes involved in getting a company off the ground and can seem almost impossible at times—you’ll soon find out how rewarding it can be when you see those first payments come in!
Cleaning
One of the most appealing aspects of owning a small business is that you can run it pretty much however you want. So why not take your love for all things clean and tidy and turn it into a profit center? Home and commercial cleaning services are hot right now, so if you’re good at what you do (and have insurance), then start your own cleaning service. You may just be able to attract more clients than you can handle. And with their satisfaction guaranteed, word-of-mouth will bring in even more customers.
Cleaning businesses can make anywhere from $100 to $2,000 per month or more—not bad for a side gig! If you’re ready to get started with your new home or office cleaning business, check out some helpful tips here. And when you’re ready to find new customers on social media, use Facebook’s Audience Insights tool and look for people who live nearby. This way they’ll be more likely to use your services again in the future! Want more great content like this?
Interior Design
When you’re just starting out, it might seem daunting to take on entire property. A great way to dip your toes into real estate is by providing interior design services for businesses and homeowners who have space that needs a little work.
It’s really quite simple: you can advertise your services (from anywhere from free to very little money) and provide some basic advice about design or even hire yourself out as an interior decorator in exchange for no upfront fee or cost. You could also use sites like TaskRabbit or Fiverr to find small jobs with big payoffs.
Property Maintenance
As a landlord, you know how much time and money it takes to maintain your property. You might be surprised to learn that, depending on what market you’re in, you can charge a premium for property maintenance services without spending any additional hours or money.
You can offer tenants reliable maintenance services and give them peace of mind when they leave their homes in your hands. Most landlords have already budgeted for repairs; you just need to find those homeowners who would prefer not to deal with anything but prevention. It’s easier than you think!
Property Management
When you’re in real estate, there’s no such thing as a 9-to-5. Your investment doesn’t take a break and neither should you. When you choose to own rental property, you need to accept that it requires your constant attention and focus; otherwise, it can become a major drain on your financial resources. Fortunately, with property management software like BizX change Property Management software, it doesn’t have to be!
Our software automates many of your daily tasks so that you can focus on more profitable parts of your business like acquiring new properties or increasing rents without having to worry about details like late rent payments or maintenance issues.
Leasing Commercial Space
Think about what would be useful for business owners in your area. Maybe a small office space to rent out by the hour? Or maybe large office spaces that people can lease long-term? Consider how much and what type of space you’ll need to make it work. Think about location, too; if you’re trying to create a downtown vibe, having business offices in an older building might help give it a more rustic feel.
Maybe part of your idea is an art gallery or event space on one floor with offices above? Make sure you consider everything that comes with running a business—will customers have access to electricity at all times, and will you need special lighting or climate control for any particular industries? Keep all these details in mind as you explore leasing options.
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Conclusion
There are multiple business ideas to be had in real estate. Whether you start a flipping business or focus on renting properties, there’s something for everyone here.
And remember, like any other business venture, you will have to invest time and money into your real estate business to see returns. So choose carefully—but don’t put it off too long: The longer you wait, the more potential you miss out on.
