If you have a property you don’t live in, or you are thinking of investing in real estate and you don’t necessarily want to buy a house, in this article we list some alternatives to generate extra income that will introduce a better financial future to you.
Whether it is a warehouse type construction or a house, it can have more than one form of employment that will benefit your monthly income and will definitely be a good investment.
Renting a house is the most common way to invest in real estate, however there are other ways that can generate less maintenance costs and higher income, you could consider the idea of renting your property for commercial premises, offices, warehouse or if it is a piece of land for private parking lots.
If the property you plan to buy or that you already have in your possession has a good location, make the most of it and put it up for rent for a commercial space, if it is a property that you already have it is important that it is located in a busy area, preferably on the street line or a corner or have space for parking, if you are only going to acquire it, make sure in the future will become a residential area with development plans and short-term growth, corroborate the safety of the area and make sure it has all the basic services.
Another basic way and with good financial results to generate income in real estate is the purchase of a warehouse to rent or, if you already have a property, rent it to producing industries that seek this type of service.
Office rent is another good market option that you can offer your property to, one of the advantages is that you can establish leases for more than one year, so it promises a more stable economic situation.
Another investment in real estate is through the purchase of parking spaces, a great alternative especially in downtown, school, commercial or executive areas where there is a lot of traffic flow and little space to park, this modality represents little investment and maintenance, although vigilance and employees are required.