Real estate investing in a great way to generate extra income. Many people are opting for niche property investments… investments you don’t see every day and don’t immediately expect to be high-income producers. However, niche markets offer less competition and sometimes higher profits.
Find a few of our favorite examples below.
Niche Property Investments: 3 Unconventional Choices in College Station
Frankly speaking, land is often overlooked because it is not very exciting. Most people who buy land are visionaries, seeing potential that others do not. Maybe the land is in a good location, so building and improving it can be a good investment. It may also be that subdivision is possible, where they can sell smaller portions of a large piece of land and make huge profits.
Another option for land investment is to leave it the way it is, and lease it out for parking, storage, or recreational use. Because of the low overhead, any rental income you make is almost 100% profit.
Land is very easy to maintain. The only money you will have to spend is on routine landscaping and clearing. There’s high potential to make great income, and the property taxes are low. You will need to learn about the area in which you want to invest in, before purchasing. What are the future plans for the area? You don’t want to buy with one intention, only to find that land in the area is currently being rezoned. Work with a realtor who specializes in land, and who can help you get the returns you are after. They should know what is going on in the local market and be able to help you find great land deals.
- Mobile Homes
Mobile homes are a great niche investment because they offer low competition and high returns. It is easier to get started with mobile homes than by raising money to buy a single or multi-family home. In comparison, it is much cheaper to buy, renovate, and get rid of. They don’t require the intense repairs that a regular home would. People who relocate quickly often offer great deals for mobile homes, and buyers are everywhere. People are beginning to realize how much more efficient a small space can be. Unlike a single home, it takes less time and work to get rid of a mobile home.
It may not be the most fascinating real estate to own, but investing in mobile homes and other alternative housing can turn out to be very profitable when it is done right.
- REIT’s & Investment Clubs
REIT’s (real estate investment trusts) are formed when many people come together to form a trust. You can research what you would like to invest in, then, along with many others, you will have the ability to purchase shopping malls, apartment buildings, and even sky scrapers. There can be thousands of impersonal people in a REIT, but when you choose the right one, you can see good profits. Make sure you do research on how the trust has performed in the past before invest in it. Similarly, an investment club is a group of people who pool their money to invest in real estate. But unlike REIT, these clubs are much smaller, typically no more than 20 people. Members in the club are more active, and they all play important roles and do their part for the club. Before any investment is made, the members of the group vote on it, and the profits are divided proportionally to what the individual has invested.
Are you interested in niche property investments? We can help you find what you’re looking for! Send us a message or give our office a call today! (979) 431-1663