The profitability of an event center vs a residential property.

[Etini]

An event center is a place where people pay to host their events. If a person has land and wants to build on that land, would it be more profitable to build an event center or build a residential property and rent it out to people?

To answer this, I would say that it depends on the location of the land. If the land is located at the heart of a major city, I think it is more profitable to build an event center. With an event center, you earn income from it almost every week if not more frequently. Rent payment happens just once a year.

The downside to building an event center is that it requires a huge capital outlay than a residential building. It has to be aesthetically excellent for it to attract people to host their events there. Beyond that, I think a real estate investment in an event center is more profitable than a residential

 

[Ithedicious]

Both of them are profitable , but personally I will choose to invest in properties as I consider that to be the most profitable since there will always be people who will always been in need of shelter or a place to stay and will be much more profitable than a situation in which you have to start an event centre and you do not have enough client that will be hosting their events all the time .

Although it might depend on the location in the sense that in some location events centre we will be the most profitable but in a residential area , it is more advisable that you invest in properties as people will be more interested to leave in such location.

But there are so many other things that must be put into consideration before deciding what you have to do , it might also depend on your capital.

 

[kings11]

The two of them are productive , yet by and by I will decide to put resources into properties as I believe that to be the most beneficial since there will constantly be individuals who will continuously been needing cover or a spot to remain and will be considerably more beneficial than a circumstance where you need to begin an occasion place and you need more client that will have their occasions constantly .

In spite of the fact that it could rely upon the area as in some area occasions focus we will be the most productive yet in a neighborhood , it is more fitting that you put resources into properties as individuals will be more intrigued to leave in such area.

However, there are such countless different things that should be placed into thought prior to concluding what you need to do , it could likewise rely upon your capital.

 

[Suba]

An event center is mostly owned by well-known companies or government agencies, even many are provided by star hotels. so if you have the capital and build an event center you should be able to compete with them. Meanwhile, with the same capital as you build an event center, you can build at least 10 residential properties that can be rented out and paid for monthly or annually, building residential properties doesn't need many permits like building an event center. So personally I prefer to build residential properties.

 

[Heartstrings]

Actually the both of them are profitable and I think an event centre is more profitable from my observations, though I may be wrong. An event centre is mostly busy always because there are occasions occur on daily basis. Though the location also counts here,when it comes to visit matters,where it's located would also determines how profitable it will be.

I actually don't know much about the profitability of residential property,I am talking based on what I observed a d heard, because I actually have a family member who has an event centre and the business is going so well. This person has build a big mansion,send a sister to study abroad aside other things done by this person, though the business has been on for quite some years now.

One thing I noticed when it comes to business is never to go into a business because it pays well for someone you know, everyone has what works for them. So the profitable of a business depends on the location and how well you handle it and dedicate your time for it.