You don’t have to be a real estate agent, broker or have a job in real estate to make money. There are many ways to make money in real estate, and here are 8 ways to make money in real estate without being a professional.
It’s remarkable to see how real estate investing can create so much wealth. You see it everywhere – TV, the web, or your friend who randomly decided to flip a house, it seems like everyone is making money in real estate.
Unlike investing in the stock market where you watch the value of the stock go perform acrobatics, trending up and trending down, you make your real wealth investing in real estate with the power of receiving rent money. It’s not appreciation that makes you rich, it’s the rental income that pays for the real estate, while it appreciates.
However, not everyone is excited about being a landlord. Fortunately, there are several ways to invest in real estate and to make money in real estate without having a license or managing a rental.
8 Ways to Make Money in Real Estate without a License
- Rent Out Your Home
- Do a Live-In Flip
- Selling Contracts
- Buy a Turnkey Rent
- Partner with Other Investors
- Invest Through Crowdfunding
1) Rent Out Your Old Home: You may have heard of the “accidental landlord.” It’s when someone lives in one house, moves away and then rents out the old home. They never planned on becoming a landlord, but because of reasons, such as not being able to sell it a fair price, they end up stuck with the house while buying or renting another, perhaps in another state. To purchase the second home you should qualify for a government-backed mortgage, such as an FHA loan, where a home priced around $200k takes usually $10,000 down.
2) Do a Live-In Flip: This strategy begins with buying a house that is habitable but requires a lot of work to make it pleasing. You build the equity with your work, called “adding sweat equity” to the property. Not everyone is cut out for the live-in flip because it’s difficult to live in a construction zone 24/7.
In this model you’ll need to use your investment tool belt, of being able to determine the current value as well as the after repaired value (ARV). Determining value is a phone call away with your real estate agent. Next you … Download the entire article now.