5 Ways to Make Money in the Real Estate Industry

5 Ways to Make Money in the Real Estate Industry

February 1, 2018, 3:49 am Blog Investment Tips Seen: 424
5 Ways to Make Money in the Real Estate Industry
With the numerous opportunities that abound on the real estate industry, one stands to make large profits. It is pitiful to note that most people do think it requires large capital to venture into real estate business, however, there are many different ways to make money in real estate. Some for the big players and some you will venture with little or no capital. Ride with us as we outline the different opportunities while you make your choice as your money could carry you and grow in the business.

1. Real Estate Agent/Realtor
Becoming a real estate agent or realtor simply means working as an intermediary between property owners and prospective buyers. It is pretty simple as one could start by looking out for properties to let, for sale and for lease, help get prospective buyers for the property owners and you will be paid a percentage usually 10% as commission on the amount the property is sold or rented.

To really make it big on this business, one needs to equip oneself with necessary equipment like a camera to capture these properties and leverage on the internet to advertise them on social media and real estate and property websites like www.realagent.com.ng. Remember you can venture into this as part-time work with little or no capital and grow significantly.

Related: Benefits of Posting your Properties on Internet

2. Property Development
This business opportunity involves large capital and the big players in the industry all engage in this as real estate developers. They acquire properties including old and dilapidated properties in perceived developing areas and locations, develop and renovate them into exquisite flats/apartments, commercial buildings, estates etc. and sell at a very high profit. They make up to 100% Return on Investment ROI within short period of time based on their marketing and advertising strategies.

3. Real Estate Rentals
You can rent virtually every of your real estate properties whether house, hostels, shops, office space, warehouse, event place etc. and get paid. This is an easy way to make money for a life time. Remember to renovate your real estate properties over time to make renting easier and faster.

4. Land Flipping
This means buying of land and quickly reselling it for profit. Land appreciates with time and with the presence of developments in a particular area can skyrocket the purchase price within a very short period.

For instance, I have a friend that bought a piece of land for N800,000 on October, 2016 and by February 2017 when the Government built road and provided the area with steady light, that same piece of land was sold for N1.7 million. He actually made over 100% profit within that short period and with little or no effort. Currently, I learnt lands at that area are sold not less than N2.5 million.

5. Property Leasing
Another money spinning opportunity. You could lease your piece of land or open space for farming purposes or other temporary businesses while you wait to sell or develop it. They will be paying you monthly rent while the property still appreciates for future sell.

Do not forget to consult a legal practitioner to prepare lease agreement document to forestall future differences.
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About the Author: Samuel Chinwendu
Samuel Chinwendu
Samuel Chinwendu is the Co-founder of RealAgent www.Realagent.com.ng. He is a freelance writer, business strategist, digital marketer, and a startup tech enthusiast and advisor.
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