In the world of money & finance, real estate is often one of the significant money makers. To most people, this means investing in a house and using it to gain money. You can do this through property flipping or the buy-to-let method.
But, what if you wanted to make money in real estate without needing to buy a house – is this possible? As it turns out, it is incredibly conceivable to do this. What’s more, many experts suggest you move away from houses if you want to make more profits! So, here are a few alternative ideas:
Invest in retail
The obvious choice, when you move away from houses, is to invest in retail real estate. This is an excellent idea as it throws your options wide open. Take a walk down almost any high street, and you will usually see some empty retail space here or there. It’s readily available, and you can buy it and use it however you want. A lot of small business owners can benefit from purchasing retail space and using it for their company as this gets rid of any rental costs and you can rent it out if you ever leave. But, general investors can benefit by holding onto a piece of real estate that’s always in demand as there are new businesses forever keen to find a new place to work.
Invest in education
Did you know that you can invest in the educational sector through the real estate market? It’s true, and many people are investing in buildings that are used as schools or other educational institutions, making money through rent and other means. This all comes from foreign investors learning from China and how the educational sector is working there. It’s thought that there’s so much money tied up in real estate surrounding schools, etc. that it’s become a smart way to invest your money. Largely, you can attribute this to the demand for education; we need more schools and more places to teach! It’s something well worth looking into.
Invest in land
Lastly, you could think about investing in land if you’re searching for an alternative to property in general. Land has many benefits, the main one being that you can do so much with it. It’s yours to build on if you wish, or you can turn your land into a trailer park and make money through that. The opportunities are seemingly endless, and land attracts property developers as well. So, you can make a considerable sum of cash by getting paid by developers to put new housing estates or flats on your land.
In a lot of cases, these options represent better alternatives to your typical move of buying a house. However, they can sometimes be more expensive and harder to get your hands on. With that being said, it’s often best to start your real estate journey by investing in a house, then broaden your portfolio into these other areas as you earn more and more money!