There are so many real estate business ideas out there, but which one is right for you? The answer depends on your interests and the length of time you have to start a new venture.
From flipping houses to becoming a property manager, there are dozens of ideas you can choose from.
First, let’s take a look at what it takes to become a real estate entrepreneur:
Business skills: Any successful business requires some amount of business knowledge. You can learn these skills or hire someone who has this expertise.
Real estate market knowledge: If you’re going to invest in real estate, you need to know the ins and outs of the real estate market in the areas where you plan to invest.
Capital: Real estate investing requires capital for initial investments and ongoing expenses. Investing in rental properties requires capital for down payments on bank loans and repairs, as well as maintenance costs and ongoing improvements.
Patience: Real estate investing takes time, so you must be patient when getting started. It may take months or years before you see returns on your investment.
Now that we’ve covered what it takes to be a successful real estate investor, let’s explore some real estate business ideas that will help you get started!
1. Start a property flipping business
A lot of people have made good money selling their homes to real estate investors who then repaired and resold the properties.
The concept is simple and can be a great way to earn a decent income while working from home.
A typical property flipping business requires you to evaluate the condition and worth of a property and make an offer based on your findings.
If your offer is accepted, you usually have to pay cash, get a mortgage, or secure funding from a private lender.
Then, you renovate the property intending to sell it for a profit.
You can make money by buying properties that are undervalued and need renovations or by purchasing properties at fair value and making necessary upgrades before reselling them for a profit.
You can also build lasting relationships with sellers in foreclosure by offering to buy their homes for cash without charging any fees or commissions for your services.
The seller gets much-needed cash and might consider listing their next property with you if they’re satisfied with how everything turned out.
2. Become a Property Manager
Property managers take care of the day-to-day tasks of maintaining and renting out properties.
For example, they make sure tenants pay rent on time, help with repairs and maintenance, they handle compliance and licensing, and more.
If you enjoy managing people and doing maintenance work, this can be a great business to start.
However, you must be willing to do some training to learn the ins and outs of property management.
The great thing about becoming a property manager is that you don’t need a ton of startup capital or education because you don’t need to own the properties you manage. Many companies can help you get started as a property manager.
3. Sell Real Estate Online Courses
Online courses are hot in the real estate industry. You can sell online courses to build your reputation and authority in the industry.
You can also earn money by developing and selling your online courses.
This is one of the most effective real estate business ideas that support you to build an additional income stream, especially if you’re a beginner agent.
You can create online courses on such topics as buying a home, selling a house, or renting property.
These courses will help homeowners understand different steps in the process of selling their homes or buying new ones.
4. Become a real estate broker
There are many ways to get into the real estate game, some more passive than others.
Having a rental property is one of the least passive types of real estate investments.
You need to maintain the property and pay the bills, plus you’re on the hook for any damage or issues with renters.
But what about becoming a real estate broker? If you want to make money in real estate but don’t want to be an active landlord, this could be a great option for you.
A real estate broker acts as an intermediary between buyers and sellers of properties. They are licensed to negotiate sales agreements and manage the documentation required for closing real estate transactions.
As such, they can help guide you through buying or selling your property with ease
5. Start a real estate appraisal service
If you have a background in real estate, or simply enjoy researching the real estate market, starting a real estate appraisal service could be a great opportunity to make money.
As an appraiser, you’ll be able to evaluate properties and help guide clients when they’re making big purchases.
You could do this full-time or part-time and charge an hourly or flat rate.
Before you start your own appraisal business, look into how much time you want to spend working on appraisals.
If you want to work part-time, for example, consider getting hired at an appraisal firm instead of starting your own company.
This way, you can gain experience and earn some extra cash without having to worry about marketing yourself and meeting clients.
6. Become a real estate agent
One of the best real estate business ideas is starting as a real estate agent. You can get your license and start by getting to know the market in your area.
Real estate agents help clients buy and sell properties. As a real estate agent, you help clients find properties that fit within their budgets and wish lists. You’ll also work with clients who are looking to sell their homes.
You can work with buyers or sellers, or both. Either way, you’ll need to understand the market and help clients make offers on homes they’re interested in purchasing or list their homes at a competitive price.
A real estate agent might also help clients rent out their homes instead of selling them outright.
7. Start a home repair business
If you’re handy with a hammer or a paintbrush, consider starting a home repair business.
You can fix up homes for people who need help maintaining their properties.
Becoming a home repair specialist is a great way to build a profitable business while also helping others.
Before opening your own business, you’ll need to gain experience as a professional contractor.
If you already have experience, you might be able to skip this step. But even if you don’t have experience working in homes, try offering your services to friends and family members for free.
This will give you the chance to get some practice and improve your skills at the same time.
You can also take courses in-home repair from local schools and community colleges to learn how to do basic repairs and renovations yourself.
These courses will teach you how to install new faucets, fix broken toilets, and repair leaky pipes or drains.
After completing these types of classes, you may decide that fixing things yourself isn’t as difficult as it seems.
8. Become a real estate developer
Real estate development is a huge, long-term commitment. After you buy the land, and after you’ve bought the rights to develop it, the actual building process can take years.
That’s why it’s important to be patient when developing your real estate business idea.
If there’s a market for real estate development in your area, selling lots at a low price or purchasing houses with big problems and fixing them up could be a good way to start.
Several different things can go wrong during development, so you’ll need to do research into the local market before you jump in and start building. You should also work with an architect who is familiar with zoning laws and local codes.
Real estate development is always full of potential pitfalls and unexpected obstacles.
To build a successful real estate business, though, you have to keep your eyes on the long term — even if it means going through some bumps along the way.
9. Become a real estate photographer
Professional real estate photography is a huge and growing business. It’s so big that it even has its association — the Real Estate Photographers of America.
The demand for professional-quality photos has grown as the Internet has made it possible to show homes around the world with virtual tours and large, high-quality photographs.
It’s possible to break into this business without owning any expensive equipment, but you’ll need to be able to invest in high-quality lenses and filters, as well as a workstation powerful enough to process raw images.
You can learn real estate photography on your own, but if you’ve got any experience with tabletop or product photography, you’re already well on your way.
10. Start a home staging service
Staging homes for sale is big business, and it’s a business you can do from just about anywhere.
It does require some design expertise and the ability to get into clients’ homes, but home staging is an increasingly popular service for selling homes faster and for higher prices.
This is one of the most profitable real estate business ideas since there are no costs to walk-throughs or open houses.
You’ll need a few thousand dollars in “starter equipment” like furniture, art, and accessories to put together model homes, but after that, you’re only paying rent on your office space, which should be in a low-rent area of town where you can meet with clients.
11. Start an Airbnb management company
If you are looking to get into the real estate business, why not start with an Airbnb management company?
This is an excellent way to begin your career and make money at the same time.
You can take care of all the arrangements for your clients, including scheduling, cleaning, and maintenance.
If you can offer a unique experience for your clients, you will be able to charge more for your services.
You do not need any special education or training to start this type of business.
However, you should be organized, efficient, and have good communication skills. You also need to be comfortable with dealing directly with others in this type of environment.
It is also good to know what it is that they want out of their vacation experience so that you can provide them with just that.
Once you have decided that this is something that you would like to try, you will need to find some properties in your area that will be suitable for your new venture.
12. Start a landscaping business
If you love flowers, trees, and plants, and getting your hands a little dirty, this might be the business idea for you.
Landscaping is more than just mowing lawns, and while you don’t need a college degree to get started, it’s not as easy as it looks.
If you’re thinking about starting your own landscaping business, here are some things to consider:
You need to be able to manage multiple projects simultaneously. You may be working on several different jobs at the same time, so expect to be busy.
Landscaping can also be seasonal, with most of the business coming in during the warmer months.
You need to understand your costs and margins. You’ll need to know how much it’s costing you for labor, materials, and equipment for each job — and how much you can charge for those services.
You need a willingness to work outside in all kinds of weather. Landscapers usually have to deal with rain, snow and extreme heat — unless they live somewhere that’s temperate year-round.
If you’re not willing to get dirty or spend time in the sun, this isn’t the business for you.
13. Start a real estate blog
Starting a real estate blog is one of the easiest ways to get started in real estate investing and sales.
With a blog, you can learn about the industry and generate passive income.
A real estate blog can help you build your brand, gain clients, and make money through affiliate marketing or advertising.
You can also join popular social media groups to get your content in front of potential customers.
If you don’t know where to start, check out this guide on how to blog like a pro.
You can use blogging software like WordPress or Blogger, but you might want to consider hosting your blog on your website so you can have complete control over it and decide what features you’d like to include.
Once you’ve set up your blog, make sure that it’s optimized for search engines using keywords that people use when they are looking for real estate information.
That way when people Google “real estate” + “your city,” they’ll find your site.
14. Start a construction company
You don’t need to be a jack-of-all-trades to launch your own construction business.
Streamlining your services is a great way to stand out in an industry that’s crowded with contractors who are happy to take on any job.
If you have carpentry expertise, for example, you can focus on building custom cabinets, sheds, and decks.
Or if you’re particularly handy with drywall, you could specialize in finishing basements or attic space.
You’ll need some upfront funding to purchase tools and rent a workshop, but not as much as you would for other contracting businesses.
As long as you have the skills and expertise to do the job, there’s plenty of demand for construction services.
15. Become a landlord
If you’re looking for a real estate business idea that doesn’t require too much investment upfront, becoming a landlord could be the perfect opportunity.
Purchasing rental properties can be expensive, but if you have the cash and are willing to invest in your future, it’s a great way to grow your income.
While it takes money to make money, keeping up with repairs and finding tenants can be a full-time job.
If you don’t have the time or resources to do this yourself, consider hiring a property manager who will take care of all of the nitty-gritty details for you.
16. Become a real estate investor
Real estate investors buy a property intending to hold it for some time, then sell it for a profit.
Some are flippers, meaning they renovate a property and resell it within months. Others are landlords who seek out long-term tenants to provide them with a steady monthly income.
A good place to start in any discussion of real estate business ideas is to become a real estate investor.
You don’t have to be rich or have lots of experience, but you do need to be prepared for the time and financial commitments involved.
The first step is learning about the basics of real estate investing. This can be done on your own, through an online course, or by attending an in-person seminar, such as those offered by Rich Dad Education.
Next, you have to learn how to find great deals. This takes time, but there are plenty of resources to help you do this — from websites like Realtor and Zillow to apps like Zumper and Trulia that help you find rentals and sales listings in your area.
17. Start a moving company
You can start a moving company with little more than a pickup truck, a trailer, and some boxes. But if you can afford to lease equipment, you’ll have a much better chance at success.
If you’re thinking of starting your own moving business, here are some things to consider:
There’s no need to buy and outfit everything at once. Start with a pickup truck, a trailer, several boxes, and a few people who will be willing to work for relatively little money. You can always add on as your business grows.
Lease or buy? Leasing is the easier option since you won’t have to worry about the financial burden of upkeep and depreciation expenses.
But if you decide to go this route, be sure you understand all the costs involved and how they’re going to change over time.
18. Start a real estate podcast
The real estate industry is notoriously tight-knit. The old-school way to build a network of agents, brokers, and other professionals is to attend conferences and industry events where you can mingle with others in your field.
But if you’re a naturally introverted person, or if you’re just too busy to get away, that may not be the right solution for you.
Fortunately, podcasts are the perfect way to connect with other real estate professionals without ever leaving your desk.
Start your real estate podcast, or take advantage of the opportunity to be a guest on one of the many podcasts out there that cater to real estate professionals like yourself.
If you start your podcast, make sure it offers value to other professionals who listen.
While things like market statistics and house hunting tips may be useful for homeowners or potential buyers, they’re probably not all that interesting to other real estate agents.
But sharing your journey as an agent and what you’ve learned along the way would likely resonate with others in your field.
19. Become an Airbnb host
Becoming an Airbnb host can be a great way to earn some extra money on the side and for some, it could even replace their day job. The earning potential is significant, especially in cities where demand is high.
If you have a room or property that you can spare, here’s how to get started as an Airbnb host.
Before diving into hosting, it’s important to consider whether being a host is right for you. Hosting involves making your space available for guests to stay in.
This requires having someone in your home who isn’t family (or already guests) and welcoming strangers into your home or onto your property.
Many cities have regulations regarding short-term rentals. For example, some require hosts to register their properties before they can rent them out, while others forbid short-term rentals altogether
. Check with your city or county government to make sure you’re following the proper procedures before getting started.
20. Start a cleaning service
Cleaning is one of those services that most homeowners are willing to pay an expert to do for them. If you can build a reputation for quality, dependability, and trustworthiness, this could be a lucrative business for you.
If you have experience as a housekeeper or cleaning lady, that would be beneficial; however, it’s not necessary. All you need is the determination to succeed and a keen eye for detail.
And you don’t need to clean houses — think of other places where people may be interested in hiring a cleaning service: condominiums, apartment complexes, medical clinics, offices, and even private homes where pet owners hire cleaners to come in every week.