Real estate investing is a great way to generate extra income with niche property investments. These types of properties don’t become cash-cows overnight, and they might not be the type of property you’d expect! These types of investments not only have less competition but sometimes yield higher returns.
Acreage
Land is often overlooked because frankly, it isn’t very exciting. Who would want to pay money for a patch of dirt? Most often the people buying are visionaries with big ideas who see potential in an undervalued asset class and transform that into something worth living on.
Another way of making money from your land investment is to lease it out for parking, storage or recreational use. Because the overhead is so low, almost all income you make from rent will be profit. You won’t need much in the way of maintenance if you own land. Some routine landscaping and clearing are usually all it takes.
Property taxes are low, and the potential to make a great income is high. Before you begin purchasing land, consider where a land investment may be of most use. What are your future plans for the area? You don’t want to buy with one intention, only to find that land in this acreage is currently being rezoned. You should always work with a Realtor who specializes in land and knows what’s going on locally. They can help you find great deals, whether they’re for commercial or residential properties!
Mobile/Manufactured Housing
Mobile homes are a great niche investment because they offer low competition and high returns. There’s no need to spend large amounts of money, time or effort on building up equity when you can purchase one with cash. Purchasing, renovating and flipping properties is much cheaper than a regular home. It’s simple to fix up any minor issues with these types of houses – you just need basic skills! You can often find great deals on mobile homes from people who are looking to move quickly. Smaller homes are more popular than ever before. Flipping a mobile home often takes less time and work, which is why people want the benefits of living in this type of environment without all that hassle! It may not sound exciting, but these types of properties can offer substantial returns if done correctly.
Investment Clubs
A group of people who pool their money together to invest in real estate is called an investment club. These clubs are relatively small, usually consisting of about 20 people, but have the opportunity for growth. The clubs are much more engaging, with all members playing important roles and doing their part to pull together. Investments are voted on as a group, so the individual member can feel like they’re making decisions that affect themselves rather than just following behind in line for whatever decision gets made first time around.
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