Real estate can be a real money spinner – if you know how to get into it. Most Americans dream of owning their own home and as a result, they outnumber those who rent by nearly two to one. People are always going to need somewhere to live, and that means that real estate can be a relatively safe business to get involved in.
You might be wondering how you can do so. There are plenty of different ways to get into the world of property no matter how big or small your budget, so to get you started, we’ve put together this list of four ways in which you could make money from real estate.
Invest in short term rentals
With nearly 5 million lodgings in 81,000 cities across the world and an estimated value of $38 billion, Airbnb is a massive business. That means that short term rentals are one of the easiest ways in which anybody can make money from real estate. From something as simple as renting out your home to holidaymakers when you are away in exchange for cash to buying up properties for the sole intention of listing them as permanently as local restrictions allow on Airbnb, anybody can make money out of short term rentals.
Fix and flip houses
There is a lot of money to be made from fixing and flipping houses. The basic premise is that you find a dilapidated property which, as a result, is being sold off for much below its true value. You then spend time and money fixing up the property, before selling it on for a much bigger price than that which you paid for it. True, fixing and flipping can be costly and time-consuming, but if you can find the right piece of real estate and get the renovation right, then it can be hugely rewarding.
Become a realtor
One of the most significant problems that people perceive when it comes to becoming an actual realtor is the time it can take to receive payment. When money comes in the form of commissions, you can sometimes find yourself waiting months to be paid for the sales job you’ve done. As a result, many people are put off becoming a realtor. That doesn’t have to be an issue anymore, with companies such as My Commission, LLC offering cash advances up to $25,000 on commission due up to 90 days ahead of the estimated closing date.
Invest in Real Estate Investment Trusts
A Real Estate Investment Trust is a firm that owns, manages or represents large real estate portfolios. By making a simple investment in such a trust, you’ll be putting your money into real estate but with much less risk than with other possible investment schemes and without needing to do too much hard work yourself as the trust will manage everything on your behalf. Different REIT’s specialize in different properties, so you can find one to invest in which works in the home or commercial properties or even in infrastructures such as fiber cables, cell towers, and energy pipelines.