Connect with us

Real Estate

Real Estate Appraiser

Good with numbers and values? Start a real estate appraisal business.

Entrepreneur

Published

on

Business At A Glance

Real Estate Appraiser

Startup Costs: $10,000 – $50,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

Real estate appraisers are specialists in estimating the value of landand the structures on that land. Real estate appraisals are commonlyrequired when people buy a home, sell a home, apply for or renew amortgage, for insurance purposes, to settle estates, and to settledivorce cases.

It is the job of the real estate appraiser to prepare awritten description of the property, and draw a diagram of the propertythat shows structures. Appraisers must also verify legal descriptionsof the property with county or city records, along with an estimatedmarket value. Fair-market values are based on factors such as propertycondition, the values of homes in close proximity, and buildingreplacement costs, using building valuation manuals and professionalcost estimators.

The Market

Homeowners, mortgage brokers and escrow companies. The key to successin this industry are alliances. You need to build working relationshipswith other professionals who commonly need, or whose clients need, realestate appraisal services. These professionals include mortgagebrokers, bankers, real estate brokers, real estate agents, and realestate lawyers.

Entrepreneur Magazine is South Africa's top read business publication with the highest readership per month according to AMPS. The title has won seven major publishing excellence awards since it's launch in 2006. Entrepreneur Magazine is the "how-to" handbook for growing companies. Find us on Google+ here.

Advertisement
Comments

Real Estate

Real Estate Photo Service

Capture your passion for photography and architecture in a few snaps.

Entrepreneur

Published

on

Business At A Glance

Real Estate Photo Service

Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

A real estate photography service is aterrific and inexpensive homebased business to start and operate.Thousands of real estate agents and homeowners simply do not have thetime, equipment, or skills necessary to take professional photographsof a home or building they are selling or listing to be sold.

The bestmethod of marketing a real estate photography service is to simplyarrange appointments with real estate agents and present a portfolio ofhomes, buildings, and properties that you have photographed. Ideallythe service should be provided to clients in both film and digitalimage format. Amazingly, photographing a mere 50 homes per week, andcharging only $25 for each home photographed, will produce sales inexcess of $50,000 per year.

Continue Reading

Real Estate

Vacation Property Rental Agent

Caught in the hustle and bustle of a busy tourist area? Consider rental properties to supplement tourists’ vacations.

Entrepreneur

Published

on

Business At A Glance

Vacation Property Rental Agent

Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

If you live in a busy tourist area, there is probably a good chancethat you can flourish by starting and operating a vacation propertyrental agency.

It is not uncommon for people to purchase vacation homesand condominiums with plans to rent them either part or all of the yearto tourists, to help offset the costs of financing, maintenance, taxes,insurance, and utilities. Unfortunately, rental income often fails tomaterialize, since many property owners don’t understand how much timeand work is involved in renting the properties’marketing, booking,cleaning, making repairs, and a lot more. Not to mention that mostowners are sometimes hundreds’if not thousands’of miles away.

As aresult, many vacation properties sit vacant when not being used bytheir owners. This creates a terrific opportunity to rent theseproperties for the owners on a revenue-splitting basis. In addition tomarketing and renting the properties, you will also be responsible forcleaning and light maintenance to ensure that they stay in tiptopcondition and attract top dollar when they are leased. Start small,representing one or two vacation property owners, and run the servicefrom home. As the business grows, so too can your time commitment untilyou are at the point of operating a profitable full-time business. Thesame business concept can also be applied to recreational vehicles andboats, if that piques your interest.

The Market

Absent property owners who would like to have their properties rentedout, but do not have the time or the expertise to manage renters.

Needed Equipment

A computer and For Rent signs with your phone number emblazoned onthem. Also, a scheduling book that will help you keep track of whenrenters are moving in and when their lease is up.

Continue Reading

Real Estate

House Preparation Service

Help real estate sell more quickly with a house preparation service.

Entrepreneur

Published

on

Business At A Glance

House Preparation Service

Startup Costs: $10,000 – $50,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

Educating yourself about the laws ofcommercial real estate leases and contracts can really pay off,especially if you apply this newfound knowledge and become a commercialleasing agent. A commercial leasing agent service can be set in motionfor less than $10,000, and can return as much as $100,000 per year inincome.

The main focus of this enterprise is to source buildings,stores, and offices to list for lease, and find suitable tenants tooccupy these locations. In exchange for your services you charge thelandlord of the building one month’s rent as your fee, or leasingcommission. Should another real estate or leasing agent be involved inthe transaction, you would simply split the fee with that person orcompany. Commercial leasing is very straightforward, but you will stillwant to extensively research the topic as well as check localregulations in terms of the legalities of becoming a leasing agent inyour community.

Continue Reading

Trending

FREE E-BOOK: How to Build an Entrepreneurial Mindset

Sign up now for Entrepreneur's Daily Newsletters to Download​​