At the moment, a lot of people begin to realize how promising is to involve in the property business. With the help of property software, it can track the availability of accurate property, centralized databases, and automated invoices. However, very few people know that there is numerous way to gain profit from this industry. Here are several professions you can build in business property.
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1. Property Investor
This profession can be considered the classic one when it comes to the property business. It’s because how it brings a good deal to a person who does this for a living. By owning your own property and, then, selling it, you can have profit in these two ways:
- Through the cash flow that you will receive monthly from the rent.
- Through the appreciation of your property value over time. You will have the profit once you sell it.
Between the two, being a property investor is very promising. It offers you cash flow and, of course, having an investment asset. This profession is suitable as a part-time job if you seek for property management service to handle your renter property daily. Moreover, you can work at home although most property investors have their own office for the sake of convenience.
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2. Property Flipping
In Singapore, the terms of flipping property might not sound too familiar. However, in the United States, this type of property business is quite well-known as it was popularized as a TV show. Flipper, a person who does this job, usually purchases a distressed home, renovates and redesigns it, and sell it at a fantastic price.
Otherwise, if you are limited in budget, you can purchase a house, no need to renovate or redesign, sell it with a slightly higher place, but still below the market. General contractors usually do flip property on one or two homes a year to have additional income on the side. There are also some property investors who do property flipping. Nonetheless, you can still be an exclusively expert in property flipping only.
3. Management of Property
There’s a common misunderstanding among people that says you must have your own property gain profit from this business. If you would like to be a part of a property business without property, you can try managing properties. A property manager will handle property maintenance or cooperate with a property investor to do routine upkeep for their rented property.
The profit can be a percentage of the rental fee or regular service fee. Although you can work from home, it is more convenient if you have a single building as your office because you will be needing room to store your maintenance equipment, paints, drywall, etc.
4. Bird Dog
A property investor must determine a good deal before starting the business. This constant requirement results in a relatively new profession called bird dog. What is a bird dog? Bird dog is a term to describe a person who finds a property with good investment potential. A bird dog will search for a property seller or the property itself to offer this prospect to the investor with a profit of a percentage of the selling price or a single service payment. This is why we can call a bird dog the intelligence of a property investor.
The term bird dog also commonly addresses a flip-potential property search, but also known in the context of identifying the value of the property or rented house. This profession is called a bird dog because it refers to a hunting dog that points to a location of birds so the hunter can get a perfect shot.
Not every work in the property business should be related directly to the property. Some of them, such as property photographers, will most likely succeed in the business since investors have to market them. A property photographer will snap a property that is on sale or rent and post it on the website as one of the selling strategies. Being a property photographer means that you will spend the majority of your work hours visiting many properties and photographing them. Most photographers decide to work in their house because the real work is in the property location.
6. Property Agent
Unlike bird dogs or flippers who are relatively novel, agent property is a profession that is most common in this industry. Becoming a property agent is more difficult to achieve recognition in this industry. This profession will require formal education and certification in some places.
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7. Combining Everything
As you understand, property business hands you valuable chances for everyone. However, the best way to combine everything in this business is by selecting professions that are relevant. For example, a property management company can work with a photographer because it will save so much time and energy. Some property investor also works as a flipper and rent their property to gain extra income. If you can do multiple jobs at one time, your chance of being successful is higher.
Why Choose a Career in the Property Business?
According to Investopedia, the property business is the most attractive investment instrument. Why does that happen? Several reasons make the property business promising and the right choice for a career in this business. We summarize some of these compelling reasons as follows.
The first reason is the price is always going up. The main advantage of investing in the property sector is the rental value and capital gains that occur due to the progress of sales and development. Due to the relatively increasing price, the profits obtained from this business will remain stable and even continue to multiply. With the profits you earn, you can keep investing and keep making profits.
The second reason, the investment product is real. Unlike investments in stocks, bonds, mutual funds, and cryptocurrencies which we cannot see physically, the property sector is a real investment, that can be seen and touched. This makes people feel safer investing their money in the property sector. Buyers can also see firsthand how the condition of the instrument they will invest in before ratifying the contract so that they will become more confident and secure. Our Contract Management Software helps you manage all types of contracts in one repository, access them directly from anywhere, automatically receive notifications when a contract is nearing expiration, and many more.
Then the property business is safer because the owner can control their investment. Unlike stock investments, which fluctuate and are uncontrollable, the property gives investors the freedom to control the price of their instruments according to certain conditions. For example, when you want to sell property, build, or repair to rent out the property you own.
Outside this list, there are still so many other professions you can choose and still promising. Whether you want to be a property agent, property investor, or property manager, the hardest thing is to start. Start your property business now, set your marketing strategy, consider using a system that automates your property management process as your business investment, and gain profit in the future. The best ERP System for Real Estate Industry consists of various enterprise-class solutions that can be customized to meet the unique needs of every property business.