Want to make money from property? Renting a property out to tenants is the most common way to invest in real estate, but there are many other investment strategies to explore too. Here are just a few real estate investment options other than buy to let that could make you a lot of money.

Own a Holiday Home

A holiday home works much like a buy-to-let property, but instead of making money through tenants you can make money by renting the property out for holidaymakers for short periods of time. This involves owning a property in a location that has a tourist appeal, although you may be able to rent it out to people travelling on business. If you don’t live near this property, it could be worth hiring a property manager who can check the property is clean and well maintained, as well as handing keys to guests as they arrive. Sites like AirBnB meanwhile can be used to market your holiday home, to screen guests and to accept payment. A holiday home may need to have a few more luxury features than a standard buy-to-let property, otherwise people won’t want to spend their holiday there (you’ll also need to supply furnishings and earn enough to pay utility bills, unlike a standard buy-to-let). The main advantage of owning a holiday home is that you can also use it for your own personal use when no guests are staying there – it’s investment that you can enjoy as well as making money from.

Rent Property Out for Events

You can also rent out property for events such as weddings, business conferences or parties. Converted barns have become a popular space for such events. You may even own some land that you can rent out for fairs and outdoor events. Renting out property for events requires constantly marketing your property and making sure that it’s got well maintained facilities. Having a property in a scenic location is more likely to attract people to it as a venue – especially when it comes to parties and weddings.

Rent Property Out as Storage

It may also be possible to rent out property as storage space for other people to put their possessions. This could involves renting out a barn for a car collector to store their vehicles or renting out a garage for someone to put inherited possessions whilst they sort through them. You’ll make money through storage fees and won’t have to pay as much for maintenance as other rental options, however it could be worth investing in some extra security so that client’s possessions are always kept safe. You can advertise your space as storage through sites like Storemates.

Flip Property

Another common way of investing real estate is flipping property. This involves buying a property cheap, making improvements to it to up its value and then selling it for profit. Many property flippers buy property that has been repossessed or is in disrepair through auctions – this property is usually very cheap to buy. There are also sites like Repolist that advertise these kinds of properties to buy. You can then pay handyman companies to make improvements to the property or save money through DIY renovations. There are special buy-to-sell mortgages that you can buy for these properties as general mortgage lenders may not be willing to finance such a property. Flipping property involves careful budgeting – the idea is to spend as little as possible improving the property whilst increasing its value enough that you make a profit. This could involve shopping around for materials and renovation services so that you’re always getting the cheapest price.

Sell off Part of Your Home as a Separate Property

It’s possible that there may be part of your home that you can sell off for someone else to buy. This could involve a barn or a guesthouse. You could convert this property into a space that can be lived in or leave it as it is for the buyer to do with it as they wish. It’s worth hiring a conveyancer to look into the legal restrictions of selling off part of your property as it can be a complex process (it will also devalue the price of your home, although this may not matter if you have no plans of selling).

Build a Property and Sell It

If you have some empty land, you could even build a property and sell it for profit. This could be anything from a house to an office building. You can fund your project with a self-build mortgage as available from companies such as Positive Commercial Finance. You can then hire an architect and contractors to build the property for you. Such a project is time-consuming and one of the more costly options, however the potential profit is huge. Even if you don’t have the land to build on, you could always buy the land off somebody else. Just make sure that the land is buildable – you may have to hire a surveyor to check that the ground is suitable as well as getting planning permission from your local council.

Invest in Property Shares

You can also buy shares in property. This could be shares in a single property or shares in a property rental company. This can be a great way of making profit without having to put that much work in, although it may require having more money to play with. Companies like IHT initial coin offering provide a blockchain for buying property shares making it easier to locate shares within your budget. You may also be able to find property investors and rental companies advertising shares sales online.

Become a Private Agent

Another option could be to become a private agent and make money valuing and marketing other people’s properties. You’ll most likely need some experience as a realtor before branching off and creating your own business. Startup costs may involve buying your own premises and hiring staff, although you may be able to do it independently and all online.