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You may have found yourself chatting up with your friend at the local bar trying to come up with startup ideas that can make a fortune. This is not just you and your friend but almost every other person looking to get rich quickly. However, without proper market research, it can get very difficult to come up with a few business ideas that sound reasonable. If you’re looking for some business ideas in the real estate space, we’ve done all the research for you and got you covered.
5 Best Real Estate Startup Ideas
Here are the five best real estate startup ideas that are trending around the world.
1. Flipping Properties
This idea of flipping properties has become a rising star of an idea on the internet. TikTok, Insta, and other platforms have tons of videos where people flip houses for a living. What’s common is that all these people are rich. Flipping properties are a great way to make a lot of money but these are usually one-off without any consistent revenue streams. Individuals purchase run-down properties and give them a whole new look by repairing and home improvements. Once the property is ready, it can be sold for a huge profit. However, do keep in mind that you won’t exactly have a great cash flow if you’re in this business.
2. Managing company
There is a difference between owning a property and managing it and the latter does not require large investments. As property managers, you do not need to own a property but simply provide property management services to those looking to have their property managed. These services can be repairing, upkeep, rent collection, and other related services. You might need to subcontract or hire a few individuals and keep an office space to store all the tools and paint.
3. Real Estate Photography
A real estate startup does not always mean purchasing properties or managing them. You can simply have a marketing agency solely focusing on real estate. One of the important services that real estate marketing involves is professional photography. You simply need to head to a property and take a few great clicks. Depending on the size of the property, the working hours might vary. It is the photos that initially attract buyers making this a great and needed profession. You don’t need an office and can simply work from the comfort of your home. Of course, you do need to go to the property for pictures whenever needed.
4. Real Estate Agency
Even today, there are many people who prefer to head down to a real estate agency and get information. Although online searches are increasing, at the end of the day, people prefer to talk to experts to get all their queries and concerns answered since they are paying a couple hundred thousand dollars to buy a house. You do need an office space and marketing budget as you won’t be getting paid until you sell your first property. The commission comes in after the deal is secured and paid for.
Yes, this is what most people mean when they say they’re in the real estate business. Becoming a landlord by purchasing a couple of properties and renting them out is a sound business idea if you’ve got the cash to back the purchases. You can easily have a continuous revenue stream and also have the property value appreciate over time. That’s a great business model!