Im trying to crate a side project for supplemental income. I'm also trying to enter a crowded market place. I'm happy if I can scale my business to a few monthly clients. I've narrowed down to three ideas. I'd like some feedback from the online community
1. Property Management for the Homeowner Investor - Considering the tight competition in the management tools market, We can provide the solution directly to the homeowner himself. Eliminating the middleman can be lucrative for owners with small portfolios. They could easily save 10% of the rental income that would otherwise go into the hands of property managers. To mitigate the risks from tenant issues and save time, we provide automation wherever possible. (Eg : Automatically dispatch contractors for maintenance requests etc).
2. A Contract Marketplace - After some initial google searches, it seems to be unclear as to how management companies expand their portfolios. Search results suggest traditional methods such as approaching HOAs, Websites, Online SEO etc. We may be able to connect the new homeowner to a property manager by means of an online database of properties that require management. Populating this database could prove to be challenging.
3. Yet another property management tool - While this is the least favourable project, a crowded marketplace seems to suggest that there is plenty of business to go around. The selling proposition could be a price point that is highly competitive and a non bloated product.
1. Property Management for the Homeowner Investor - Considering the tight competition in the management tools market, We can provide the solution directly to the homeowner himself. Eliminating the middleman can be lucrative for owners with small portfolios. They could easily save 10% of the rental income that would otherwise go into the hands of property managers. To mitigate the risks from tenant issues and save time, we provide automation wherever possible. (Eg : Automatically dispatch contractors for maintenance requests etc).
2. A Contract Marketplace - After some initial google searches, it seems to be unclear as to how management companies expand their portfolios. Search results suggest traditional methods such as approaching HOAs, Websites, Online SEO etc. We may be able to connect the new homeowner to a property manager by means of an online database of properties that require management. Populating this database could prove to be challenging.
3. Yet another property management tool - While this is the least favourable project, a crowded marketplace seems to suggest that there is plenty of business to go around. The selling proposition could be a price point that is highly competitive and a non bloated product.