Many of us tend to associate the real estate business with the rich or those born from privileged backgrounds. But little did you know that you can be an investor in the real estate industry without owning property?
Today, the real estate industry is expanding in many ways, creating unique opportunities for new business models. One of the fundamental drivers of change in the real estate industry, is technology which has created new platforms for interaction and facilitated e-commerce.
Mobile applications such as Airbnb have made it possible for home owners to connect with clients and rent out unutilized space in their compound to earn extra income. In some countries, not owning a home is not a limitation for engaging in the Airbnb business. City dwellers living in uptown suburbs are finding it convenient to co-host guests sourced from the Airbnb platform in order to make extra income to meet their monthly bills or make savings.
Tales from the founders of the Airbnb mobile app, paint a picture of humble beginnings and struggle. It is said that Airbnb was built from an initial investment of $20,000 from Y combinator. Today, evidence from Airbnb records estimates the net value of this APP at $38 billion worldwide. On average, an Airbnb unit costs $80 per –night reservation and booking.
Global experts in real estate and property market project that the Airbnb platform will expand substantially creating huge opportunities for business especially in emerging cities and economies in Africa, Asia Pacific among other regions.
Tech Savvy civil engineers have also found lucrative opportunities for generating income only by selling skills and ideas. With technology it has become even easier to initiate communication from the comfort of your house with clients in overseas markets. All what you need is reliable internet and good interpersonal skills to court clients through digital platforms in order to be able to sale your capabilities particularly in creating architectural designs.
It is estimated that online freelance jobs platforms such as Up-work, register an average of 320 jobs for experts in remote architectural designs. The job spefications are straight forward, from clients seeking for simple tasks such as making designs for custom aquariums or looking for a fusion 360 modeler among others. The average hourly income for a civil engineer in the United States is estimated $40/hour.
But what happens if you don’t have such technical skills and you cannot afford to run an Airbnb unit? Wait! that is not the end of it all. Bloggers are today making a lot of money in generating content for real estate products on digital platforms. All what is required of you is to start a blog page and identify a niche. Blogging is the only popular way of making money with little investment.
Closely, related to blogging is digital marketing and generating investment leads on social media platforms. Fundamentally, technology is taking the real estate business from the physical to the virtual world by creating unique platforms to converge the developers, sellers and buyers, consequently allowing free flow of information and exchange. With these developments, it has become easier to trade real estate assets on stock markets. Developers and property owners can also trade shares in an open free market.
Additionally, the emergence of new technologies such as virtual reality and their application in the real estate industry has created new opportunities for experts in photography. Virtual reality has created demand for real estate photography. Photographs are needed for property listing. However, adding a 3D dimension photograph puts you ahead of the competition.
Lastly but not least, anyone today’s digital economy has become a journalist and if you have the skills to record and cover unique stories, this can be another lucrative venture to make money through online platforms such as You-Tube. Every developer is looking for unique business ideas to create awareness and publicity about various investments in the most effective and affordable manner. You-tube offers create opportunity for content creators to make extra money. Although it takes time to build a profile, with determination and commitment you can make it big time.
I hope this article was informative and it has given you hints on how to become a real estate billionaire without owning property. Note that 90% of the world billionaires make wealth through a variety of activities, but it is estimated that real estate offers the best ways to develop significant wealth.
Do not be drawn back by partial limitations based on perceptions. Sit down and audit your strengths, then identify a niche that requires your skills. This fun post invites you to join the billionaire club of realtors who own no property.