Investing in real estate can be a lucrative way to generate extra income. Many people are now opting for specialized property investments, which are not your typical mainstream options but can offer unique opportunities and potentially higher returns.
Find a selection of our preferred examples below for Unconventional Choices in Kansas City
Specialized Real Estate Ventures: 3 Unconventional Choices in Kansas City
Land is often overlooked because frankly, it isn’t very exciting. Who would want to pay money for a patch of dirt? Most often, the people buying are visionaries. They see potential in a piece of land that others have overlooked. Maybe the land is in a great location, so building and improving upon it is a surefire investment. Or maybe subdivision is possible. Dividing a large parcel of land, and selling off smaller lots can be highly profitable.
Another option for land investment would be to leave the land as-is and lease it out for parking, storage or recreational use. Because of the low overhead, any rental income you make is almost 100% profit.
Investing in land offers a multitude of benefits. One of the key advantages is the ease of maintenance. With land, you typically only need to cover routine landscaping and clearing expenses, making it a cost-effective investment option. Additionally, property taxes for land are generally low, further enhancing its appeal. Moreover, land holds great income potential, making it an attractive investment opportunity. However, before diving into land purchases, it is crucial to thoroughly research the specific area you plan to invest in. Understanding the future plans for the area is essential. You wouldn’t want to buy land with one intention, only to discover that the area is undergoing rezoning. To navigate this process successfully, it is advisable to work with a realtor who specializes in land investments. They can provide valuable insights into the local market and help you find exceptional land deals that align with your investment goals. To embark on a successful land investment journey, partner with Faithful Home Buyers KC LLC. Our knowledgeable team is well-versed in land investments and can assist you in achieving the returns you desire. Contact us at 816-237-0869 to get started.
2. Mobile Homes
Investing in mobile homes offers a unique and lucrative opportunity in the real estate market. With low competition and promising returns, it is an attractive niche to explore. Compared to purchasing a single or multi-family home, getting involved in mobile homes requires less capital. The costs for purchasing, renovating, and flipping are significantly lower. Renovations for mobile homes are usually simple and don’t require extensive repairs like regular homes. Additionally, there are great deals available from motivated sellers who want to relocate quickly. The demand for mobile homes is also on the rise, as people realize the benefits of living in smaller, more efficient spaces. Flipping a mobile home can be a quicker and easier process compared to a single-family home.
While it might not be the most glamorous real estate to own, investing in mobile homes and other alternative housing, offers big profits when done right.
3. REIT’s & Investment Clubs
Real estate investment trusts (REITs) offer a unique opportunity for individuals to pool their resources and invest in a variety of properties. By conducting thorough research, you can identify the ideal REIT to invest in. This collaborative approach allows you and many others to collectively own shopping malls, apartment buildings, and even skyscrapers. While REITs may seem impersonal due to their large number of investors, choosing the right one can lead to significant profits. Before making any investment, it is essential to research the historical performance of the trust.
When it comes to real estate investing, an investment club can be a great option. Unlike other forms of investment, an investment club is made up of a small group of individuals who pool together their funds to invest in real estate. Typically, these clubs have no more than 20 participants, which allows for a more intimate and hands-on approach to investing.
What sets an investment club apart is the active involvement of its members. Each member actively contributes and fulfills vital roles within the group. This means that everyone has a say in the investment decisions, which are made collectively through group voting. This collaborative approach ensures that all members have a voice and that decisions are made democratically.
Another key aspect of an investment club is the proportional distribution of profits. Each member’s share of the profits is based on their individual investment contributions. This fair and transparent system ensures that everyone benefits in proportion to their investment.
If you’re looking to get involved in real estate investing, joining an investment club can be a smart move. It offers the opportunity to learn from others, share resources, and collectively make informed investment decisions. To find an investment club in Kansas City, MO, [market_zip], reach out to Faithful Home Buyers KC LLC at 816-237-0869 today.