Most people think of real estate investment as a means of making easy money, but there is more than one way to make money from real estate. Some people prefer to invest in properties while many more prefer to get in early on the ground floor of buildings, buying discounted timeshares.
If you’re looking to make some extra cash, you can sell discounted timeshares online. There is a growing demand for luxury travel experiences with the rise of companies like Airbnb and Wonderingwall that allow individuals to rent out their homes for profit. Your journey to earning a passive income stream from real estate can begin with the purchase of a timeshare in a high-demand destination. Although timeshare sales often require a healthy dose of hustle, you can be certain that the returns on investment are worth it.
The Rise In Demand For Luxury Travel
According to the Global Business Travel Market Size Analysis, total travel market value is due to grow from $11,800 million in 2017 to $16,200 million by 2027.
Business travels aren’t the only ones who can benefit from a luxury break either. Individuals can take advantage of rental vacations to allow them to travel the world without having to break the bank. Hotels are gradually getting in on the action too by offering more luxurious experiences to their customers.
Luxury is no longer reserved for the extremely wealthy; even those on a budget can enjoy a high-end vacation now with the right planning. You don’t need to sacrifice quality just to save a few dollars – you can enjoy a first-class flight and stay in a 5-star hotel without having to break the bank.
Making Money With Timeshares
Timeshares are all the rage right now; in fact, interest in this product category has jumped up by 77% year-over-year, according to the NPD group. What is a timeshare? It’s a type of real estate that you purchase (often times in partnership with a hotel or travel agent), where you can enjoy a certain number of rooms (usually between 2 and 12) at a discounted rate.
Hotels across the globe are looking for ways to monetize their properties and attract more customers. Timeshares are a great way to do this, particularly for a high-end hotel that isn’t likely to get the volume of business travelers required to fill their rooms.
You can purchase a timeshare that will entitle you to a certain number of nights at a hotel or resort; some offer all-inclusive luxury packages where you can enjoy food, drinks, and transportation to and from the hotel (at no additional cost).
Timeshares can become a viable source of income for some entrepreneurs who have purchased large volumes of them. In fact, according to a research report from the NPD group, there are a number of lucrative niches within the travel industry that can be pursued through timeshare purchases:
- Luxury Travel Agency – earn a commission as an agency that finds clients for luxury resorts and hotels
- Luxury Hotel Owner – buy a hotel as an investment, then rent it out to attract high-end travelers who pay full price for room and board
- Luxury Resorts and Hotels – purchase a timeshare at a luxurious resort or hotel and rent it out to generate revenue
- Luxury Cruise Line – purchase a timeshare on a cruise line and rent it out to generate revenue
- Luxury Car Rental – purchase a timeshare in a luxury car and rent it out to generate revenue
- Luxury Real Estate Agency – earn a commission as an agency that finds clients for luxury real estate purchases
- Luxury Yacht Sales and Charter Services – purchase a yacht, then rent it out to generate revenue
- Luxury Resorts and Hotels – purchase a timeshare at a luxurious resort or hotel and rent it out to generate revenue
- Luxury Maritimes – purchase a timeshare in the British Isles and rent it out to generate revenue
- Luxury Vineyard – purchase a vineyard in a high-demand region and rent it out to generate revenue
- Luxury Hotel Owner – buy a hotel as an investment, then rent it out to attract high-end travelers who pay full price for room and board
- Luxury Cruise Line – purchase a timeshare on a cruise line and rent it out to generate revenue
Make sure to investigate all of the opportunities that exist within the travel industry before making any decision. You can also consult with a reputable real estate attorney to ensure that all of your legal papers are in order.
The world is changing, and along with it, the way we will earn our living. Real estate attorneys will be able to help you navigate these shifting sands so that you can maximize your potential.