There are many people around the world who are tired of their daily jobs and want a business of their own with a seven-figure earning. The good news is that the real estate business is an ideal option in this scenario. It mainly deals with buying and selling properties, buildings, land, etc., and making a profit out of it. You may be under the impression that to become a real estate businessman, and you need finance to start with. Well, it is not 100% true. Having money may ease out the job as you will be your own investor, but that is definitely not the only way.
If you look at the various real estate businessmen these days, most of them started from scratch, with very little to their name. They built their name and, consequently, their brand, step by step, and managed to reach a superior position. If you are someone with zero investment capability but want to make a name for yourself in real estate business, the following tips can definitely be helpful for you.
1. Generating ideas on brand building
This is applicable for any business as such, and real estate is no exception. What brand-building basically includes, is creating a perception in the mind of the people so that they trust you and eventually are ready to make a deal with you.
Brand-building can range from creating your own logo to having your own advertisements, creating an attractive website, and being available online to the people who can be your potential customer. The more you build your brand, the more are your chances of being recognized. None of the procedures cost an exorbitant amount of money as well.
2. Partner with a real estate investor
There are many people out there who are ready to invest in properties but do not want to engage in the hassle of dealings and going through the cumbersome procedure. You can come to their rescue diligently and can offer to do this job for them at a price. It is a win-win situation for all.
The investor’s money will be channeled properly, and you will also make good money while learning on the go. Partnering up with a real estate investor is a very good option for a real estate agent who is at the initial stage of their career and doesn’t want to invest anything themselves as such.
3. Getting seed capital
Seed capital is the initial amount that is needed to start a business as such. There will always be some amount required to fuel the starting phase, like market research and brand development. This seed capital can be obtained from various sources like banks, family members, investors who are only interested in doing the deals without being very involved in it etcetera.
One of the best things that you can do in the initial stage of your career as a real estate businessman is to get someone to give you the seed capital. Once that is done, your business will be on its track properly.
4. Use Investment Leverage
This is another good step for people who want to proceed with the business with zero investment. The only requirement is to have an existing property that can be put up for equity. You can borrow money based on this property and then invest it on properties that have a lot of potential for monetary growth.
What is very important to consider here is the fact that the money made from the investment done on borrowed money should be more than the money you borrowed. This type of investment leverage might look a little risky on the outset but is a tried and tested method for success.
5. Making a strong online presence
Not having an online presence can be a huge disadvantage these days. It is an absolute must to remain in the race of good real estate businessmen. The first step is to create your own website. It should be easy to use and navigable. Get an expert to help you with it if needed.
Secondly, use social media to your advantage. Open an exclusive private page on the various applications and market yourself there from time to time. You will be amazed by the kind of popularity you can garner from having a strong online presence.
6. Sell a developer’s property
New buildings and properties are being developed every day. You can work for these developers by taking the responsibility of selling their property to potential customers.
All you have to do is contact a developer, fill out a few prerequisite forms, and you are good to go. You have to show them results by selling a considerable amount of developer’s property in order to make them give you more work. This is an essential step for the trust-building process as well.
7. Close the deal and get a cut
Like mentioned before, when you don’t have any investment to make in a real estate business, you should work for others and get deals for them. Your role in the whole process is to be an intermediator and facilitate the process. Once the deal is completed, take your cut out of it and move on to the next project. These cuts are generally pre-decided and are done on a percentage basis.
No one is saying that being a real estate businessman is an easy job. In fact, during the initial years of business, you are bound to fail more often than not. However, that should not demotivate you in any way. An important modality for success is to hold on to the plan and be consistent with your performances, and it won’t be long when nothing looks unconquerable.