Property related ideas for making more money

westminster

westminster

As I venture into the world of not being an employee, I am considering what else I can do to make money besides my own IP projects.

I now have a lot of skills but no qualifications in residential investing and developing. Is there a market for those skills I wonder?

What can I do without qualifications/registration (ie I can't be a PM, REA or Buyers Agent though being a BA would be cool)

Ideas mulling in my head
- Interior Designer (I believe you don't need to be registered but I would do the Cert IV in Interior Design)
- Project Manager for other people's IP projects
- Project Manager for other people's Reno projects
- Professional somersoft thread hogger
- Mentoring (but how without sounding like a douche trying to con money?)


What other, out the box ideas can you think of?
 
My head has been thinking along those lines also.
I self-manage three properties which is equivalent to earning about $200/wk. Have you looked into Cert iv in Interior Design? I'm thinking about doing it also, just need a push!! Let me know of you decide to study!
 
Hi Both

I'm going to watch this post very closely as I too would love to go down this path.

INVSTOR - how have you found self managing of your properties ? In the same state as you, I reckon.
 
Cherry Pro said:
INVSTOR - how have you found self managing of your properties ? In the same state as you, I reckon.
Click to expand...
I self manage a property in Melbourne from Perth. No issues at all. I don't really find it any different to managing my property that is 5 blocks away from where I live in Perth.

There are some advantages to self managing. For example, my tenant in melbourne advised the drain pipe in the bathroom was blocked. I was able to arrange a contractor to fix the plumbing issue by close of business the same day. That would not necessarily happen with a Property Manager.
 
Cherry Pro said:
Hi Both

I'm going to watch this post very closely as I too would love to go down this path.

INVSTOR - how have you found self managing of your properties ? In the same state as you, I reckon.
Click to expand...

Extremely easy, a lot easier than using a PM. I would only do it in the state I reside in.
 
HD_ACE said:
Wern't you going to do some drafty study? Would think that could make you some $$$$.

Cheers
Click to expand...

I am doing my drafting course but I would not be good enough to make money from that for many years and I'm really doing that for my own purposes so that I can recognise good design, make suggestion which are actually doable and improve my skills for doing feasabilities etc.


D_One said:
I would employ you as my BA and Project manager if I ever decided to do a project in WA.
Click to expand...

Client #1 :)
 
westminster said:
Ideas mulling in my head
- Project Manager for other people's IP projects
- Project Manager for other people's Reno projects
Click to expand...

Sorry to burst your bubble on these ones WM but you will need a builder's licence (plus PL & professional indemnity insurances) for these roles even if the owner has engaged a builder.
 
What if you learnt every building trade there is eg chippy, brickie , sparky, poo chaser, tiler, concretor, gyprocker, renderer, painter, cabinet maker, landscape gardener. Have I left any out?

Most of these trades are interelated so it might only take half a lifetime to learn lol. But when you finish you would be a true master builder!
 
westminster said:
I am doing my drafting course but I would not be good enough to make money from that for many years and I'm really doing that for my own purposes so that I can recognise good design, make suggestion which are actually doable and improve my skills for doing feasabilities etc.


Client #1 :)
Click to expand...

Good luck with your endeavour. Are you studying Certificate IV in Residential Drafting?
 
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I think you'll need some type of qualification, registration, endorsement, ticket, certificate or licence to do anything in Oz (nanny state) so you may as well become a property manager and make bazillions.
 
Hey Myf

I think this is sort of steering a bit away from the direction you a leaning towards but i have always been fascinated by the Mcdonalds story, how there main business was real estate and the fast food restaurant was just a means of creating cash-flow to hold the property. Id love to come up with some sort of business that would allow me to purchase property and support it through my business income.
 
Tano said:
Good luck with your endeavour. Are you studying Certificate IV in Residential Drafting?
Click to expand...

Yup it's really good so far. One assignment done and we did a test this week. It's hard work on the brain trying to do it 5:30-10:30 on a Monday night but going ok so far

Blair007 said:
Hey Myf

I think this is sort of steering a bit away from the direction you a leaning towards but i have always been fascinated by the Mcdonalds story, how there main business was real estate and the fast food restaurant was just a means of creating cash-flow to hold the property. Id love to come up with some sort of business that would allow me to purchase property and support it through my business income.
Click to expand...

I suppose rent is my burgers :) The rent provides the cash flow to hold. But "would you like fries with that?" what is my fries or upsell :D

dex said:
I think you'll need some type of qualification, registration, endorsement, ticket, certificate or licence to do anything in Oz (nanny state) so you may as well become a property manager and make bazillions.
Click to expand...

Well this is Perth so I can charge a fortune for PMing but it's not a route I'll go down. I retired from work to get away from stuff like that. I'm just trying to work out if there is something else I can do that will be fun but make money :)
 
Hi Myf,

I've been thinking along the same lines, even thought of starting up a property management business here in Hobart. But it sounds like too much work, too lazy for that lol! The other idea I've been toying with is self contained short stay accommodation. Buy/reno/rent out to holiday makers. My two cents :)
 
Of The Vultures said:
Hi Myf,

I've been thinking along the same lines, even thought of starting up a property management business here in Hobart. But it sounds like too much work, too lazy for that lol! The other idea I've been toying with is self contained short stay accommodation. Buy/reno/rent out to holiday makers. My two cents :)
Click to expand...

I've been thinking that too

Seems like there might be some good yields available on what would traditionally be low yielding property

Been looking at Tassie a bit - binalong bay is done to death
Would people stay in berriedale for the gallery?

I'm looking for a year round attraction not just a beach which people only visit a few months a year
 
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