“If you do not own a home, buy one. If you own a home, buy another one. If you own two homes, buy a third. And lend your relatives the money to buy a home” – John Paulson
Putting your money into real estate and investing it are two excellent avenues for financial freedom. After all, land is the only remaining commodity that is constantly in demand throughout time. So, it would make perfect sense to make a little money off buying and selling land. Unfortunately, novices in the field and individuals looking to break ground with real estate investments may find their money-making endeavors a little challenging to accomplish. Luckily for them though, there is a myriad of ways they can make money from real estate.
All they need to do is to find one they feel themselves gravitating to and have a natural talent and skill for. Whether you are looking to have BGC condos for rent or otherwise, here are some of the best ways to make money off real estate from the pros themselves:
- Fix and Flip Houses
Those who do not see themselves committing to real estate as a long-term investment venture can try to fix and flip houses. Fixing and flipping houses are great avenues for short-term real estate investment strategies. In this regard, investors would then search for undervalue homes that are in various states of disrepair then repair and renovate them to sell from profit. It might not be the most straightforward strategy, but it works.
- Represent Home Sellers
In the modern age today, realtors are in direct competition with tech tools when it comes to marketing. However, if there is one core component that realtors have that these tools glaringly lack, it is the fact that the former can build and maintain relationships. In this regard, use your extensive skills to represent home sellers and call expired and FSBO leads. After all, in order to close a deal, you would still need to know how to generate, foster and close leads.
- Invest in REITS (Real Estate Investment Trusts)
Any time of investment involves a degree of risk. Although real estate investments’ risks are relatively lower, there is no guarantee that your endeavors would be financially sound. If this is a major concern for you, then perhaps you might want to consider investing in an REIT instead. REIT’s or real estate investment trusts are firms that own, represent or manage real estate portfolios. These portfolios are typically large and is an excellent way for you to dabble in real estate without too much of a risk.
- Invest in short term rentals
AirBnb is probably something you have heard of by now. In fact, it might be something you have taken advantage of once when you were on vacation. As a result of the staggering prices of hotel rooms and suites (on top of apartment and flat rentals at that), people have been looking for cheaper alternatives when it comes to short-term rentals. Consequently, demands for short-term rentals which AirBnb offers shot up and tech-savvy investors and realtors have exploited this phenomenon by putting their listings on the app.
- Renting out apartments
One of the perks about living in a progressive city is the high demand for apartment units. Considering there is an abundance of career opportunities, it would only be natural for individuals to start converging. As a result, there would be low vacancy rates but high demands. In this regard, it would be a prime opportunity for you to quickly and easily make money on apartment rentals.