Real estate is widely considered to be one of the most stable forms of investment. By purchasing property in an area that is seeing increased attention, those who are looking for a strong real estate investment can often avoid the fickleness of the stock market. There are, however, some unusual real estate investments that may be wise to consider. Here are 10 of the strangest real estate options available.
Waterfront property is generally far more expensive than landlocked property. While this is primarily because water adds to the aesthetic quality of property, boating is important for commercial and recreational activities. A popular dock leads to considerable profit over time.
2. Haunted house
Haunted houses gain their reputations through rumor and superstition, but they often attract considerable attention from the public. By purchasing a haunted house, an investor may be able to set up tours and other activities that can lead to tremendous profits.
3. Drive-in movie theaters
While the drive-in movie theater has been dying for decades, many people long for nights spent watching movies from their cars. With an effective advertising campaign, a drive-in movie theater can lead to tremendous profits due to the nostalgia they inspire. Further, they are inexpensive to maintain and can lead to considerable concession sales.
4. Strip clubs
Regardless of where they are located, strip clubs are generally profitable. By refurbishing a club and launching an advertising campaign, new owners can often recoup their expenses in little time.
5. Missile silos
One of the effects of the end of the Cold War is that a number of missile silos have become unnecessary. Because of this, government agencies often sell these sites for low costs. They can be converted into a home, and their layouts can lead to engaging, fun tours that people will pay for.
6. Old hotels
In recent years, the big names in hospitality have come to dominate the industry. With smart phones and online advertising, however, it is possible to attract considerable attention to boutique hotels and other hospitality hotspots. The hospitality market can be a great field to invest in if one purchases the right building.
7. One-room school houses
The era of one-room schools has come to an end, but many of these buildings were built to last. Throughout the nation, there are small school houses that can lead to great tours and community activities. Further, many can be designated as historical sites.
The ranching lifestyle has become less popular in recent decades, but interest in ranching has increased significantly. Further, environmentalism has led to an increase in interest in these properties. There are a number of ways to capitalize on ranches, and a bit of creativity can go a long way.
9. Air rights
It comes as a surprise to many that it is possible to purchase air rights over land. Despite the focus on square footage, real estate truly is a three-dimensional field. In many cases, air rights can increase in value tremendously.
10. Amusement parks
There are a surprising amount of abandoned amusement parks throughout the United States, but few investors consider taking the time necessary to restore them to their former glory. With a bit of work and effective advertising, restored amusement parks can quickly turn a sustainable profit.
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Daniel Watson is an retired high school teacher who spends his time fixing up old cars and looking for ways to spend his money. He stumbled upon some interesting ways to diversify his real estate investment porfolio and he thought he’d share. To the risk-prone investors considering any of these investments, consider a more risk-averse mortgage option. Use comparison services like Kanetix to shop around for mortgage rates.