Real Estate is considered by and large one of the safest forms of investments currently available by many entrepreneurs like Nihar Gala. Not only because the value will usually increase more than inflation and as such maintain your buying power but it also has the unique option of it being a safety net one can fall back on, if the situation calls for it. There are multiple ways to make money through real estate and here are some of those options and the possible benefits of such actions.
Being a landlord
A landlord could be considered one of the most basic and oldest forms of the Real Estate business model but it still to this day remains one of the best forms of earning passive income. There are two main ways to make money by being a landlord namely
- Renting out the land for others to use
This type of income for a landlord has the benefit of being possible nearly always depending on the area you own, there will always be someone willing to rent land be it for business or to even just live there. This is also a simpler and hands-off way to earn an income as you only truly have to handle issues that crop up on your property.
- Leveraging the land to diversify
The other way to earn money as a landlord is to leverage your land as an asset for you to have access to more money to work with. The difficulty of making $1 to $1000 is a lot hard than making $1000 to $1000000, money begets more money and the more you have the easier it is to make more. Leveraging your land allows you to take in bigger equity for the expansion of your portfolio
Probably the form of real estate business that most people have seen on shows and TV. Flipping properties have been popularized by TV programs from all over the world over the past few years. Flipping properties at its core is buying a house, repairing and modernizing it, and then finally selling it for profit. This method of real estate business is a lot more hands-on and requires you to have a good idea of the area and situation of the house.
This is a term that has commonly come up in the real estate business to refer to sniffing out hidden properties and the like. To keep your nose on the ground and to constantly be on the trail for a good prize hence the term bird-dogging. The idea is that you constantly look through a variety of ways to find people willing to sell properties of any sort, be it tenant-ready properties, or distressed properties, for you to work over and then sell or maintain for a nifty profit.
There could be a large number of different ways to perform Real Estate in the world but in general, they can be boiled down to renting for a continuous stream of income or selling for a large profit and everything else is different ways to adapt to those 2 modes for your situation. Regardless pick what is best for you and your situation and make the most of it, that could mean doing one of the methods listed here or it could mean doing a mix of the 3 or any number of other business models.