{"id":8097,"date":"2018-02-02T15:15:46","date_gmt":"2018-02-02T23:15:46","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=8097"},"modified":"2018-01-25T08:48:20","modified_gmt":"2018-01-25T16:48:20","slug":"3-steps-to-picking-the-real-estate-niche","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/","title":{"rendered":"3 Steps to Picking the Real Estate Niche"},"content":{"rendered":"<p style=\"text-align: justify;\">Whether you\u2019re a beginning investor or a seasoned pro, it\u2019s essential to occasionally back up and look at the real estate market from the 30,000 foot level. It\u2019s very tempting to try to be a \u2018jack of all trades\u2019 in the real estate business but that is seldom a good strategy. It results in people choosing the real estate agent business where there are a hundred others trying to sell the same house in the same neighborhood to the few precious buyers that qualify.<\/p>\n<p style=\"text-align: justify;\">Instead, consider focusing on a niche and becoming an expert in that niche. When you are an expert in a specialized field, people will turn to you when they are ready to buy, sell, rent, or otherwise do business. Start by taking the time to understand what niches are out there, then decide on one, and drill down to become an expert.<\/p>\n<p style=\"text-align: justify;\"><strong>Real Estate Niche Examples<\/strong><\/p>\n<p style=\"text-align: justify;\">Here are a few to fuel your imagination :<br \/>\n\u25fe Raw land. This is speculation that a new highway or entertainment\/restaurant hub will dramatically increase the value in a short period of time. Some people like to buy raw land near where a new McDonalds is being built. McDonalds has a long history of thoroughly researching new locations.<br \/>\n\u25fe Duplexes \u2013 Triplexes \u2013 Quads. Landlording these properties almost always delivers a better return for your investment dollars than single family homes.<br \/>\n\u25fe Small apartment buildings. Finding investment partners is a good way to break into this lucrative real estate niche.<br \/>\n\u25fe Commercial real estate. This is just the tip of the iceberg to a very large market that takes specialization in a particular sector and then sub-specializing within the sector. The major sectors include offices, retail, large apartments, industrial, and hotels.<br \/>\n\u25fe Mobile homes. Used mobile homes are inexpensive to purchase. It can be a great way to get started. Even better is renting out the dirt under other peoples\u2019 mobile homes.<br \/>\n\u25fe Tax liens. This is another inexpensive way to get started. You are guaranteed a high rate of interest or becoming the owner of the property if the taxes remain unpaid. However, tax lien laws vary greatly from state to state. Most that specialize in this niche limit investing to one or two states.<br \/>\n\u25fe Mortgage notes. With the super tight mortgage qualifications, the market for private money is hot right now.<br \/>\n\u25fe Rehabbing, syndicate investing, REIT, etc.<\/p>\n<p style=\"text-align: justify;\"><strong>Three Steps to Picking Your Niche<\/strong><\/p>\n<p style=\"text-align: justify;\">There are three general steps to getting started in your niche. Step one is deciding what niche you want to get into. It\u2019s great if you can make money in a niche that you\u2019re passionate about. However, to feed yourself and your family it\u2019s sometimes more important to pick a niche that will deliver a reliable income for years to come.<\/p>\n<p style=\"text-align: justify;\">Step two is learning about your target market. Move from the 30,000 foot level to the 10,000 foot level. Before committing to a particular niche, dig into the details to learn about your target market. Will you be working with other investors? Will you be working with retail buyers? Will you be working with real estate agents? Will you be working with construction contractors? Learn who they are and then learn everything there is to know about them. One of the most important aspects to know is if they have money to spend in your niche.<\/p>\n<p style=\"text-align: justify;\">Once you\u2019ve learned everything you can about your target market, its\u2019 time to become an expert in the niche. This is an ongoing process. You always want to be on top of your specialized niche. One of your top goals here is learning the best ways to market to your target audience.<\/p>\n<p><a href=\"http:\/\/realtybiznews.com\/how-to-find-your-real-estate-investing-niche\/98746467\/\" target=\"_blank\" rel=\"noopener\">How to Find the Real Estate Investing Niche<\/a> by Brian Kline | Realty Biz News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you\u2019re a beginning investor or a seasoned pro, it\u2019s essential to occasionally back up and look at the real estate market from the 30,000 foot level. It\u2019s very tempting &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-8097","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>3 Steps to Picking the Real Estate Niche &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"3 Steps to Picking the Real Estate Niche &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Whether you\u2019re a beginning investor or a seasoned pro, it\u2019s essential to occasionally back up and look at the real estate market from the 30,000 foot level. It\u2019s very tempting &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/02\\\/3-steps-to-picking-the-real-estate-niche\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/02\\\/3-steps-to-picking-the-real-estate-niche\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"3 Steps to Picking the Real Estate Niche\",\"datePublished\":\"2018-02-02T23:15:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/02\\\/3-steps-to-picking-the-real-estate-niche\\\/\"},\"wordCount\":630,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/02\\\/3-steps-to-picking-the-real-estate-niche\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/02\\\/3-steps-to-picking-the-real-estate-niche\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/02\\\/3-steps-to-picking-the-real-estate-niche\\\/\",\"name\":\"3 Steps to Picking the Real Estate Niche &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2018-02-02T23:15:46+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/02\\\/3-steps-to-picking-the-real-estate-niche\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/02\\\/3-steps-to-picking-the-real-estate-niche\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/02\\\/3-steps-to-picking-the-real-estate-niche\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"3 Steps to Picking the Real Estate Niche\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"3 Steps to Picking the Real Estate Niche &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/","twitter_card":"summary_large_image","twitter_title":"3 Steps to Picking the Real Estate Niche &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Whether you\u2019re a beginning investor or a seasoned pro, it\u2019s essential to occasionally back up and look at the real estate market from the 30,000 foot level. It\u2019s very tempting &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"3 Steps to Picking the Real Estate Niche","datePublished":"2018-02-02T23:15:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/"},"wordCount":630,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Real Estate"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/","url":"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/","name":"3 Steps to Picking the Real Estate Niche &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2018-02-02T23:15:46+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2018\/02\/3-steps-to-picking-the-real-estate-niche\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"3 Steps to Picking the Real Estate Niche"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/8097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=8097"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/8097\/revisions"}],"predecessor-version":[{"id":8098,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/8097\/revisions\/8098"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=8097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=8097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=8097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}