Searching for creative real estate niches to know about? Real estate offers many exciting ways to earn a return on investment, including highly creative niches that provide impressive results; some can equal or exceed traditional market sectors. And these creative niches offer other benefits—for example, combining your hobby or other business enterprises and enjoying lower overhead costs while building wealth. Another benefit of branching out is the added security against an economic downturn in any one sector; the others can carry you through. Rental properties build in a layer of protection against inflation because rents tend to keep pace with increases in the cost of living with little impact on your monthly cash flow. Please note that this article is for informational purposes, not financial or legal advice. So read on as we explore these three creative real estate niches to know about in Northern Kentucky in 2023.
AirBnB
AirBnBs are one such real estate niches that investors like you should know about in Northern Kentucky. Advances in technology help investors take advantage of online services with user friendly apps that provide travelers and real estate investors a platform upon which short term rentals have become a streamlined process, with checks and balances protecting both parties. Keyless entry and other inventive methods have evolved to provide the privacy and social distance that are now the norms in travel lodging. Investing in Northern Kentucky real estate to use for short term rentals can provide high returns. Because tenants are short term, spending little time in the unit, you save money because there tends to be less wear and tear overall. Of course, its important to focus on the location of your AirBnB investment so that you are not concerned about bookings. Professional buyers like those at Team Sztanyo can help you zero in on the right property in Northern Kentucky to suit your AirBnB investment strategy.
Self-Storage
Self-storage properties are another real estate niche that investors like you should know about in Northern Kentucky. Savvy investors are taking advantage of this profitable business with operating costs that generally run very low. Another benefit of self-storage properties are the additional income streams that can be added, such as sales of boxes and other moving supplies, locks, insurance and other products or services that combine well with the moving industry. The professional buyers at Team Sztanyo are highly educated professional local real estate investors who know the Northern Kentucky real estate market and can guide you to the best location for this enterprise.
Mobile Home Park
Mobile home parks are another interesting and profitable real estate niche that investors like you should know about in Northern Kentucky. Cash-on-cash returns are a metric used to evaluate an investments profitability, measuring the net income against the initial cash investment and mobile home parks average of earning back about 20 percent of your investment each year is impressive. Tenants in mobile home parks own and maintain their own units and pay lot rent and tend to stay in place much longer than tenants in more traditional rentals. Professional buyers like those at Team Sztanyo are expert negotiators that understand competition is low among buyers for mobile home parks.
Team Sztanyo! Your Real Estate Expert
If you’re buying or selling a home in Northern Kentucky or Cincinnati area property, Team Sztanyo has the experience you need to help make the buying and selling process easier, less time consuming, and we’re on your side to help make sure you get the best deal while we worry about all of the details.
With so many real estate niches to know about in Northern Kentucky, why not explore the possibilities with experts who know about them all, the professional buyers at Team Sztanyo. If you’d like to relax knowing your retirement will be golden, why not work with the pros at Team Sztanyo and their full-service in-house team of industry specialists, including everything it takes to make it easy to earn a passive income and build wealth in Northern Kentucky with a well-diversified real estate portfolio. Call Team Sztanyo at (513) 813-6293.
If you have questions like: What is the best real estate niche? What is the most popular niche right now? Then give us a call! Team Sztanyo answers concerns about selling or buying your property or any questions you may have with absolutely no obligation. At Team Sztanyo, our hybrid professional buyer real estate agents are ready to help you today. Send us a message or call Team Sztanyo at (513) 813-6293.