Sometimes setting yourself up as a property investor can be a grind. Contrary to what people believe, it’s a job with long hours and a lot of research. Buying and selling typical properties inside a city or on the outskirts, renovating them if needed and then pitching it to various buyers is the regular workflow for a property investor. Profits can typically range from “livable conditions” to “well-off” but unless you start dealing with extremely high-profile properties and business areas, then you’re likely not going to get rich quick.
However, some investors have taken an alternate path in the world of property dealings. Instead of dealing with typical properties such as apartments and houses, they take on special niches that can bring them huge profits with a single sale because they’re so unique. Here are a couple of niche property investment markets that could transform your daily grind into a special journey that’ll make you more money than you’re getting now.
Yes, there are people that buy and sell entire islands—but not just that. They also sell amenities on the islands that are developed specifically for private owners to use. Sometimes investors will just buy and sell the island, but clever (and wealthy) developers have taken it to the next level and will build mansions, storage bays, harbours, power generation services, water filtration machines—they might even throw in a boat so you can get on the island.
In addition to buying and selling islands, property investors might also divide large islands into multiple plots for sale or simply rent out islands as holiday homes. It’s a versatile and unique market that doesn’t get much exposure, but wealthy holidaymakers and rich individuals will be all over your island property.
A ranch doesn’t have to smell of animals and be covered in hay. Far from it. A ranch conversion turns old farmland into luxury homes with thousands of acres of land, potential for private fishing and other outdoor recreation, and some incredibly serene environments to take hikes and bike rides in. There are many ranches for sale if you look through a quick Google search or in specialised magazines and these properties are extremely popular due to the amount of space you get for the money.
Even if there’s no farmland to convert, you can invest in large patches of land near forests, rivers and other natural attractions and build luxury recreational homes near them. They are popular with enthusiasts that need a lot of space to carry out their hobbies, so when making sales and listing the property make sure you state how much free and untouched land is available.
Castles are extremely old pieces of architecture that will need a lot of renovating, but snatching one up at an affordable price and converting it into an extremely decadent and luxurious medieval property can create massive profits. Each castle has a long history of kings and queens and people love to learn about the history of the property they live in. Castles are usually massive structures that could house hundreds of people, so it’s possible to split a castle up into several occupancies as well.