4 Ways to Start a Real Estate Business for Beginners
The property business is one of the
businesses with bright opportunities to get promising profits, even during a
pandemic like this. That's why many people are interested in starting their
ventures in property business. Could you be one of them?
The property sector is not just about
housing or dwelling. There are various types of sectors that are attractive to
be used as business fields. But before going further, let's learn what a
property business is and how to start it. Let's check out the discussion below.
What is a Property Business? A property
business is a way to develop assets by buying properties, then selling them
back at a later time. This business can be done individually or by representing
a company. Individual property business is usually in the form of services or
small-scale buying and selling. This is because the business requires a large
capital.
Meanwhile, a property company is a
business group that invests a large capital to enter this world. Where they
usually specialize in more than one sub-sector of property. Starting from
consultants, land acquisition, construction and development, developers,
marketing even up to property maintenance.
4 Types of Property Business
If you are interested in this business,
find out first the types of property business so that you have a better
understanding.
1. Residential Real Estate
As the name suggests, residential is a
property related to housing. The coverage of residential real estate is a
landed house, apartments, flats, condominiums, or housing. Residential
consumers are usually families or those who need housing.
2. Commercial Real Estate
Meanwhile, Commercial Real Estate is a
property intended for business (commercial) purposes or seeking profits. For
example, buying and selling shop-houses (ruko), shop-offices (rukan), offices,
meeting buildings, even hotels. Consumers of this type of property are
businessmen or companies, even the government.
3. Industrial Property
Industrial property is a type of property
that is built for industrial purposes. The target consumers are large companies
or businesses. This type of property typically includes laboratories,
warehouses, factories, or waste processing facilities.
4. Special Purpose Property
refers to a highly specific type of
property, which is built for a particular purpose and function. The target
consumers for this type of property are businesses that aim to develop
recreational areas, swimming pools, hospitals, concert halls, gas stations, oil
wells, or other special properties.
With the variety of property types, it is
no wonder that this business can generate a variety of benefits. This business
can also be pursued by all ranges of people, from those with small to large
capital. So, you just need to adjust it to the budget you have.
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