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In this lesson, you will discover 7 ways to make money in United States real estate, many of which do not require any experience, cash for capital, or license; you do not even have to live in the United States for some.
Most people look at real estate as a larger-than-life entity or investment vehicle but for very good reasons; it keeps the roof over our heads either at home or at work.
So it makes sense to idolize the idea of making money in real estate to the extent of writing it off as a simple thing.
Back in 2004, a friend of mine who had heard me talk about looking at real estate invited me to a seminar. My pastor’s wife had mentioned it.
So my friend invited me along to a first-time home buyer’s seminar. 15 years later, I am not just still talking about it.
I have exposed thousands to the opportunity of making money in real estate.
It’s a great feeling.
With that being said, here are 7 ways to make money in real estate today regardless of what your background is.
(1) Buy & Own
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While this is a great way for an average person to tap into the lucrativity of real estate, it’s my least favorite because it’s too slow but nonetheless, it adds up.
It involves buying a home for you and your family to live in and spending your housing expense on building real estate equity.
(2) Buy & Rent
This was the first real estate money strategy I was introduced to. It involves buying a piece of property for the purpose of renting it out to tenants; becoming a landlord.
Ideally, you want the income from the rent to cover all expenses involved in owning the property while you build equity which subsequently builds your net worth.
This is the strategy that started building my empire because the income was fast. It involves leveraging the art and science of marketing to find deals that investors want.
After finding these deals, you then lock the properties under contract and sell the equitable rights to the investors who will actually execute the purchase.
The highest I’ve made on a single wholesale deal is $82,000. You do not need your own cash for capital, license, or experience for this strategy.
(4) Buy, Fix & Flip
This strategy is also supposed to be short-term and no longer than 6 months from acquisition to disposition.
The main difference between this strategy and wholesaling is the fact that you will be fixing, repairing and rehabbing the property in order to compete with the houses in the best conditions on the market.
Unlike in the wholesaling strategy, you will be selling at retail to the retail market as opposed to selling at a discount to an investor.
(5) Buy, Fix & Rent
This strategy involves renting out a property as the exit strategy as opposed to flipping it outright for a profit. This is a great strategy for those who want to take full tax-related advantages of real estate investing.
One of the advantages of combining buying and fixing with renting is the fact that you could save big time when you buy a house that needs repairs.
When you lead with adding value to a house that needs some TLC, you can potentially 10X the equivalent of that value on the back end in the form of ROI.
(6) Subject To & Rent To Own
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With this strategy, you are able to acquire a property subject to the existing mortgage loan on the property. The idea is to take over the deed with the existing mortgage from the previous owner.
As an exit strategy, you are also able to sell the property to people who may not have a good enough credit or income on paper for a regular mortgage using the “rent to own” strategy.
Rent to own can be very lucrative because you get to collect a large amount as a down payment without a guarantee that they could purchase in the future.
You can do a lot of things as long as it is a win-win-win for all parties involved and the numbers work out.
(7) Mortgage Note
When a mortgage loan originates on a piece of real estate property, an asset called a promissory note is also simultaneously created.
That promissory note can also be traded between interests the same way collection agencies buy non-performing accounts from utility companies at fractions of what was owed while continuing to attempt collecting the full amount..
There are many other ways to make money in real estate.
Just imagine how many possible problems that come with the ownership of real estate.
Then multiply that number by 3 and that’s the minimum number of ways to make money in real estate. The opportunities are endless.
Like any other endeavor, making money in real estate takes work.
But you’d also agree that there is nothing new about work right?
After all, we all have to work. If it’s going to take work, we might as well work on building legacy and generational wealth.
Also, it doesn’t matter if you work full time or not. You can arrange your life around a best and suitable strategy including partnerships.
The most popular way to attempt making money in real estate is to become a licensed agent because it’s conventional.
But being a licensed agent is a hard sales job and most people will fail at it due to the misplaced expectation. If you are aware that it’s marketing and sales, it can be highly lucrative.
Tell me in the comment area which of these ways and strategies you would like to learn more about on my next real estate video.
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Check out the next video on the screen for more information about making money from home with real estate; no cash for capital, credit, license, or experience is necessary.