While most people look to their future by putting money in retirement funds or portfolios, an alternative investment is real estate. If you know the market and have the resources to invest, you can make a great return on your money. The real estate picture is shaky these days, but many areas are picking up and knowing where to buy can be a great way to increase your wealth. Do you want to purchase land in the hopes that it becomes hot in a few years, or are you looking to purchase an apartment building and be a full-time landlord? There's as many options as there are properties, so let's take a look as some of the possibilities.

Land valuation - As mentioned above, purchasing land is one option. This alternative real estate investment can pay out well if the land becomes of great value, but unless you pick a hot market, you may have to hold on to the property for a long time in order to see a return. Instead, what about purchasing a building? A house has value while you live in it or rent it, and it often increases in value over time. You can have a roof over your head while growing your investment.

Expand your real estate options - Once you own your own home, what about purchasing a second one? If you can rent it out for more money than you are paying on the mortgage, you are earning on your investment every month. If you don't want to actively manage the property, you can hire someone else to do it for you. This may eat into your profits, but it will allow you to purchase property in towns and areas where you don't happen to live. As the years go by, you will fully own the property and all of the money you make renting it, barring taxes, is yours to keep. The down side of renting, however, is finding a tenant—when the house is empty, you don't have money coming in.

Real estate "flipping" - Another alternative real estate investment is purchasing a property to flip. In this scenario, you buy the property at less than what you think you can sell it for, minus the costs to upgrade it. The idea is to get to work right away and sell the house as quickly as possible. If you purchase a house, for example, and put $50,000 into upgrading it, yet sell it for $75,000 more than your original investment, you've made $25,000. This investment method requires a tremendous amount of hands-on work and effort, however, and should not be taken on lightly.

Finding alternative investments such as real estate can be a smart way to increase your wealth. If you understand how the market works and know when to buy and when to sell, you can make a great return on your money. Be sure to fully research your potential investments and have them inspected, however, and you'll be able to really enjoy being an owner.