Everyone needs a place to live. When they need a space to call home, they rely on residential properties. These properties could take the form of houses, apartments, condos, duplexes, and even townhomes. The residential property industry, therefore, is booming, which means it provides a lot of career opportunities.
From home improvement to real estate transactions, there are many fields that you can enter related to residential properties in the state of Tennessee. It all depends on your preferences and skills. Are you a big people person and love helping others achieve their dreams? Then you might be interested in becoming a realtor. Like to work with your hands? Then perhaps a contractor position would suit you.
Let’s dive into some of the potential career paths in the residential property space that you could pursue in Tennessee.
Real Estate Agent
As previously mentioned, one of the most common positions in residential properties is the position of a real estate agent. These are individuals who guide people through real estate transactions, both for buyers and sellers. Although you get to help people find their dream homes or experience the satisfaction of negotiating a great deal for your clients who are selling, the job is not all about the glamour that you might see on reality shows like “Selling Sunset.” You’ll have to pay to get licensed as a real estate agent, have a lot of patience at the beginning, and your salary is entirely dependent on making transactions go through. However, your income potential is also very high.
Rental Property Ownership
Maybe you already have saved up a lot of money in another career and you are looking to get involved in real estate investment going forward. Rental property ownership can be a lucrative business in this case. Even if you do not have a huge cash reserve to finance a property purchase, you could secure a DSCR loan that is based on the estimated income of the property rather than your personal resources. Either way, revenue from rental payments is often enough to cover your mortgage payments, property expenses, and then some. If you do not want to deal with the duties of managing the property, you may want to hire a short-term rental property management company.
When things go wrong with people’s homes, or they want to invest in improvement projects, they will often call contractors to handle these tasks. Becoming a contractor is a great idea for those who like to work with their hands and solve problems. It is a dependable type of job that is often in high demand. Plus, many resources can help you prepare for your Tennessee contractors license exam through test prep. The construction industry within the residential property space is vibrant, so you can make use of your skills to earn a steady position with a stable income.
If you have an eye for design or know how to maximize interior spaces, then perhaps a career as an interior designer is on the horizon. Homeowners and renters love to turn their living spaces into beautiful oases that promote comfort and aesthetic appeal. However, not everyone understands the principles of design and what looks good. Often, they will hire an interior designer who can provide some guidance about creating balance in their living spaces and following a particular style. You could work for a larger business as an interior designer or you could build a freelance role for your services.
If you are an organized individual who enjoys responding to the needs of others, then a role as a property manager might be perfect. Property managers are often hired by landlords or owners to handle the day-to-day tasks of managing rental units. You would be responsible for providing maintenance assistance (potentially through a separate firm), handling vacancy rates, marketing open units, and negotiating lease agreements.
When buyers want to purchase a home in Tennessee, they will usually pay for a home inspection. This step is crucial to ensure the property they are buying is worth the listing price that they will pay. You can help buyers save a lot of money by preventing bad deals from going through. This service is vital, and you can earn a decent income by performing detailed home inspections to help buyers negotiate for fair prices or at least be aware of potential maintenance issues with their future home.
With Millions of Residential Properties Across Tennessee, the Career Opportunities Are Numerous
Your personality and skills could be perfectly suited for a career in Tennessee residential properties. Whether that is as a rental property owner, a home inspector, or an interior designer, there are plenty of ways for you to get involved with real estate/home improvement to earn a decent income. This list is by no means comprehensive, as there are tons of other job opportunities in this field. Research the industry to find a career path that highlights your strengths.