The Most Profitable Real Estate Niches Of 2013
The most profitable real estate niches of 2013: Real estate has always been a dynamic and evolving business. More so in changing economic times, real estate has to adjust and develop new ways of doing business. Since housing and shelter are of primary importance, real estate is not the type of business that can shut down until the economy recovers. The players and the way of doing business will change, but neverless new opportunities are created.Finding a niche – it is not a new concept, but it certainly is an important one for getting the highest results possible for the best return on the investment. In today’s competitive times, a real estate investor survival is based on becoming an expert in a particular real estate niche.
1. Pick a Niche – In over 20 years of real estate experience, I have experimented with many types of real estate niches, but the ones I had more success with were the ones I could relate to, that I was passionate about. Make a list of the things that interest you most, things you are passionate about or even an area or neighborhood that interests you.
2. Think outside the box – In order to survive in this business, you have to be creative and come up with ideas and twists on an old way of doing business, which will give you the edge on the competition and make you an authority in the field. You have to gain the confidence and follow your gut feeling that if something feels right, go for it. I remember having ventured many times in unexplored real estate territory and wondering (even if only for a minute) why no one else had thought of it. Sooner or later I found myself on the front of a new way of doing business and an expert in my particular niche.
3. If it was easy, anyone would do it – That is one of my favourite sayings. Real estate is not for everyone. It takes work, continuous education and perseverance. Pick a niche that works for you, develop a plan of action to consistently, repeatedly stay top-of-mind for that targeted prospect and win where it counts.
And here are the most profitable real estate niches today:
1. Short Sales;
3. Wholesale Flipping;
4. Buy and Hold;
5. Commercial Real Estate Investing;
6. Note Buying and Selling;
7. Bulk REO Trading;
8. Miscellaneous Real Estate, like Storage Facilities, Mobile Home Parks and Roadside Motels.
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