10 Smart Ways to Make Money in Property

Have you ever thought about how to make money in the property industry? If you’ve often heard the term “property investment” but still feel clueless about where to start, don’t worry! In this article, we’ll chat about how to generate income in the property world in a relaxed and easy-to-understand way.

First of all, let’s discuss why property is a popular choice for many people to earn money. Property is like gold. Its value tends to increase over time. Even if there are times when property prices drop, it’s usually temporary. Moreover, property offers multiple ways to generate income. Not just buying and selling, but you can rent it out, turn it into a boarding house, or even renovate it to boost its value.

1. Buy Property and Sell It When the Price Goes Up

This is the most common method. For example, you buy a house in a strategic location for IDR 500 million. A few years later, the house price in that area rises to IDR 750 million. At that point, you can sell it and earn a profit of IDR 250 million. But here’s the trick! Make sure you buy property in a location with good prospects. Usually, areas near public facilities like schools, hospitals, or shopping centers have faster price increases.

2. Turn Property into a Rental Business

Not everyone can afford to buy a house, especially in big cities. This is where your opportunity lies. For instance, if you own an apartment or house in a strategic location, just post an ad to rent it out. Rental income can provide a stable monthly income. If your property is in a tourist city, you can earn even more by renting it daily through platforms like Airbnb.

3. Boarding House Business

The boarding house business is evergreen, especially in cities with many campuses or offices. You just need initial capital to build or buy a property and create several boarding rooms. If one room rents for IDR 1 million per month and you have 10 rooms, that’s IDR 10 million per month! But remember, make sure your boarding house is comfortable and offers attractive facilities to draw tenants.

4. Renovate and Resell (Flipping)

Ever heard of “property flipping”? This is a pretty exciting way to make a profit. The idea is to buy an old house or a property in poor condition at a low price. Then, renovate the property to make it more appealing and functional. Once completed, sell it at a higher price. However, you need a reliable renovation team to avoid skyrocketing renovation costs.

5. Invest in Commercial Property

If you have a bigger budget, consider commercial properties like shop houses or warehouses. These types of properties are usually rented out for long periods, providing you with stable monthly income. Additionally, commercial properties have high resale value potential, especially if they’re in strategic locations.

6. Join the Property Business Without Large Capital

Don’t have a big budget? Don’t worry; there are ways to still earn money in the property sector. For example, become a property agent. Your job is simply to help people buy or sell property, and you earn a commission from the transaction. There are also property crowdfunding platforms where you can invest small amounts alongside others. Later, the profits from the property will be distributed according to your investment portion.

7. Leverage Technology

The digital era makes property business easier. You can post property ads on platforms like strategis.id, OLX, Rumah123, or Lamudi. If your property is unique, like an Instagrammable villa, try promoting it on social media. Use high-quality photos and attractive descriptions to grab potential renters’ or buyers’ attention.

8. Take Property Training or Courses

To better understand the property world, it’s worth attending training or courses. Many affordable online training programs are available. You can learn everything from property analysis and negotiation tricks to marketing tips. This knowledge will be your weapon to succeed in the property sector.

9. Build a Network

The property business is all about relationships. The wider your network, the bigger your chances of getting good deals. Join property communities or attend seminars. Don’t forget to build good relationships with property agents, notaries, and contractors. They can be sources of information and new opportunities for your business.

10. Be Patient and Consistent

Lastly, remember that the property business takes time. Not all investments return profits in a short period. Sometimes, you need to wait several years to see significant gains. The key is to stay consistent and keep learning.

Is Not Impossible

Making money in the property sector is not impossible. The key is to know the strategies and dare to start. Begin with small steps, such as becoming a property agent or investing small amounts through crowdfunding. Over time, you can grow and build a larger property business. So, what do you think? Ready to dive into the property world? Hopefully, these tips will help you start your journey to becoming a successful property entrepreneur. Good luck!