Creative ways of raising money when developing real estate
Like most things, not all property developers are created equal.
While there are large-scale commercial developers who are bankrolled by wealthy investors, for example, there are others who are simply looking to remodel a single property and turn it into their dream home. So not only does every property developer have different resources at their disposal when they start a project, but they also have variable motivations and objectives that will define their efforts.
If you have bought a single property and want to develop your dream home, the biggest challenge you will face is raising the necessary funds to complete your project. In this article, we will look at some creative methods or raising funds and ensuring that you have enough capital to complete the project.
1. Sell your marketable skills as a freelancer
The freelancer market is continuing to grow in the UK, with an estimated 1.4 million independent workers now active nationwide. While most people choose between a standard, nine-to-five role and independent contracting, however, combining both for a fixed period of time can help you to maximise your earnings.
By taking your most marketable skills and expertise, you can begin to sell these as a freelancer and build an additional income stream to support your existing wage. This not only optimises your earnings within a designated period of time, but it also enables you to lay the foundations for future career opportunities.
This requires a strong work ethic and excellent time-management skills; of course, as you will need to combine these two methods of working while keeping them entirely separate. Similarly, you will need to show total commitment to the cause, showcasing a willingness to work additional hours until you have achieved your financial objectives.
2. Monetise your pastimes
While hobbies are usually pursued for recreational fun rather than profits, all of them have fixed cost bases that eat into your disposable income. Bu what if you could tap in pastimes that had the potential to be monetised and leveraged to generate a return?
Online gambling certainly fits into this category, particularly if you select vehicles and strategies that minimise risk.
Slot games can deliver a steady and frequent return, for example, particularly if you can identify certified titles that have a return-to-player (RTP) rate of 98% or above. By also managing your bankroll carefully and maximising stakes when you are competing in a lucrative bonus round, you can create a fun and immersive hobby that actually delivers tangible rewards.
You can even optimise your gains by targeting platforms that offer the most lucrative bonus packages, using the leading online casino comparison sites to make informed, real-time selections.
3. Identify liquid and short-term investment opportunities
On a similar note, you may want to achieve income by investing in alternative markets and liquid asset classes. While buying real estate is an investment in itself, of course, this is one that will deliver long-term gains (while in some instances you may not want to sell at all in the future).
If you consider derivative investment options such as currency, however, you will have the opportunity to maximise short-term gains and earn income quickly. High levels of liquidity means that this asset can be traded in high volumes without its underlying value being affected, making it ideal for opening and closing positions in 24-hour periods (known commonly as day trading).
The derivative nature of currency also means that you can profit in a depreciating market, by hedging against specific currency pairings that experiencing devaluation.
This can contribute to an agile and liquid investment portfolio, and one that healthy returns within a relatively short period of time.