How to Start a Real Estate Business
A niche is a segment of your local real estate market, and your choice of niche will define how you set up and operate your business.
Ideally, you should choose a niche you have experience in, with limited competition, reasonable consumer demand, and scope for future expansion.
Your niche could serve a specific demographic of society or a geographical location, such as investment properties, rental and property management, vacation homes, or beachside condos.
Here are the 4 main types of real estate, all with numerous niches:
A. Residential: Single-family houses, condominiums, cooperatives (Co-op), duplex, triplex, and fourplex properties.
B. Commercial: Office/retail space, apartment buildings, mobile home parks, leisure and hospitality property, self-storage and mini-storage facilities, parking lots and garages, grocery stores, and gas stations.
C. Industrial: Production facilities, freezer, refrigerated storage facilities, storage warehouses, distribution centers, research and development parks.
D. Land: Farms/ranches, timberland, orchards, and planned urban development (PUD) for future residential or commercial development.
Once you have a niche in mind, it’s time to research and validate its growth: