Tips for Making Money in Real Estate
Making money in real estate is not just about buying and selling houses! You can make money in real estate by doing some non-traditional transactions in the real estate industry. Some of the top money-making tips I have used:
1. Being a private money lender. If you have money sitting in your self-directed IRA, you can be a lender securing your money with real estate. Most private money lenders earn 10% on their funds and can feel secure in knowing their money is secured with real property.
2. Become a trainer/mentor. If you have been in real estate for a number of years, you might have the opportunity to charge people for your knowledge. Have a successful and proven track record of real estate transactions, you could be in the line up for selling your knowledge, writing a book, or develop a training program that outlines a successful method of lead generation, buying distressed properties, or hiring a virtual assistant to help run your business.
3. Tried and true money makers are flipping houses, but the key is to buy the property right, control your rehab expenses and market to sell the property for top dollar.
4. Get into the Vacation Rental Business
Bonus: Link to my top ten identifiers: Going from Long Term Rental to Short Term Rental (AirBNB)