Income potential through property ownership is a hot topic. If it’s something you’ve considered in the past, it may very well be your ticket to a bright and financially independent future. theBLOQparq (tBp) is a believer in the pure potential of property not just for profit but for building community and allowing others to share in meaningful experiences. The real estate market offers multiple revenue streams that are worthy of your time and consideration. Now is a great time to build yourself some entrepreneurial equity.
Forget About Flipping Property
As seen on HGTV, flipping houses can be lucrative if you have a keen eye for properties that require some fixing up but have a quick turnaround time for reselling. In order to maximize your income as a flipper, you need the necessary skills to do the hands-on work yourself or have a go-to contractor you can depend on to deliver results that are cost-effective, professional, and up to code. Time is money (literally) so you need to move quickly while spending money wisely.
Thankfully, tBp has removed the headache of renovation from the income property equation. Our residential units come fully designed with sustainable, high-end finishes. Built-in furniture maximizes the square footage and allows for the space to be transformed into various practical and aesthetically pleasing configurations. These residential units are valuable pieces of real estate ready and waiting for an individual like you to purchase as an investment property. And by renting it out, you’ll be pleasantly surprised with the ROI that comes along with it.
Buy And Hold
If you are looking for another type of investment, you can explore the idea of purchasing one of tBp’s residential units for your children. Investing in family is always a wise decision. You can make the purchase today and if your children aren’t yet old enough to live there on their own, you can rent out the property until the timing is right.
In the meantime, you can enjoy the benefits of the property building equity. When the housing market increases by a large enough percentage, you may consider selling the property and walking away with a nice sum of money for you and your kin.
Wall Street is also starting to notice the high demand and low supply in the rental market and the potential profits that could be made.
– The Washington Post
Speaking of housing markets, the current one is on fire! As a result of the pandemic, Americans started to desire a space of their own in destinations that offered a more reasonable cost of living. The low inventory and high demand have served as a recipe for housing and rental prices that are through the roof. Some cities have experienced a 40 to 50 percent increase in monthly rental rates and the market isn’t showing signs of slowing down anytime soon.
This has become a popular choice for many, and although the COVID-19 pandemic stalled the travel industry for a while, it is coming back strong. According to 360 Property Management, the short-term rental market is booming! Boasting an average nightly rent of $217, or considerably more in popular tourist spots, experts expect continued growth in the years to come. These home-away-from-home rentals are the perfect alternative for travelers that want to shy away from hotel stays and a residential unit at tBp is the perfect spot for out of towners to stay during their Las Vegas vacy. It’s a more affordable accommodation option for guests who will still have the convenience of being a hop, skip, and a short drive away from the thrills of the Strip.
Although you are probably most familiar with Airbnb, there are countless other vacation rental companies that are popping up due to increased demand. Some of these include Vrbo, HometoGo, Tripping, Sonder, Vacasa, Agoda, and Getaway. These companies allow you to earn income by renting an entire house or just a room on a short-term basis.
Properties close to tourist destinations are especially popular on these types of sites. Be sure to check your city’s bylaws before listing a property, as some do have restrictions.
These are just a few of the proven strategies for income property potential. Understanding the risks and upfront costs is something to carefully evaluate before hopping on the path to real estate investment. tBp is here to fulfill the need for affordable, built-to-suit real estate that maximizes the potential of the land upon which it’s built along with the community it creates.