Ways of Earning Money in Real Estate Without Being an Agent
The business of managing, renting, establishing, selling and buying property is known as real estate. Examples of real estate properties are land, houses, and buildings. It is advisable to invest in real estate since the population is increasing and real estate property never depreciates. A real estate agent is a great player in real estate. An agent links real estate buyers to sellers. Many people believe that they must become agents to make money in real estate. The following are methods of earning money in real estate without becoming an agent.
Venturing in rentership is a good way of making money in real estate if you dont want to become an agent. The demand for rental units has increased. You only need to buy a property and rent it out. If you bought the property by using a loan, renting it out will assist you in repaying the loan and still earn some money. It is advisable to start by offering triplexes and duplexes. You can also invest in commercial property which has several units. To understand rentership better, please read this guide.
Real estate non-agents earn income by wholesaling. Wholesaling does not require you to purchase any property. You only need to fetch for deals from sellers, publish the deal and sell the deal at a profit. If you have improved negotiation skills, wholesaling will be favorable for you.
Fixing and flipping is another way of making money in real estate. The 70% rule in house flipping has made this method a success. You need to buy property which needs repairs. By fixing the property and selling it later, you will make a profit. To become a successful flipper, you need to abide by the flipping rule.
Hard money lending will enable you to earn money in real estate. Some people who cant be issued with conventional loans want to own property. Some people do not want to borrow conventional loans because of the numerous requirements. Hard money lending will enable you to make more money since the hard money attracts a higher interest.
Buying notes will enable you to earn money in real estate. Deeds are also known as notes. Once a lender has issued a mortgage loan, he/she gets the deed. Mortgage lenders issue the deeds back after receiving the total mortgage back. If you buy the notes, you will be receiving the monthly payments made by the borrowers.
If you would like to get a share of the income made in real estate, but you dont want to become an agent, you should start managing property. Property management will enable you to earn at least 5% of what the tenants pay.