Welcome to the second part of the 25 Strategies to make money with real estate. if you missed the first part, click on this link to read it now. Which of the ideas do you resonate with so far? Check out the remaining twelve, and let’s know your thoughts at the end of the post.
14. Resolve Property Management Problems
Whether it’s a multi-unit residential, retail, or commercial complex, any property is inefficient if it doesn’t have the necessary property management. Good property management firms solve problems as they emerge; outstanding property management companies prevent problems from occurring in the first place. Solving these problems create a new stream of income for you
15. Take a look at Real Estate Crowdfunding
There’s never been a better moment to use crowdfunding and marketplace lenders to invest in real estate. As home-flipping activity reaches a six-year high, remodeling residential properties for resale may be a lucrative prospect.
16. Experiment with House-Hacking and Live for Free
The primary idea behind home-hacking is to buy a house and rent out sections of it to make money and help pay for your living expenses. You could buy a two-bedroom condo and rent out one room, or you could buy a multi-family property and live in one unit while renting out the others. House-hacking is an excellent approach to obtain expertise with landlords and property management if you’re trying to expand your real estate portfolio.
17. Create a Successful Website
Because 80% of potential renters and investors start their search for commercial real estate online, you’ll need a lead generation-enabled website that can collect traffic and turn visitors into leads. There are a few quality website platforms that allow lead capture forms, show your listings, and more; you can customize each page to your liking.
18. Sell short-sale properties
When a lender decides to sell a property for a reduced price in order to pay down an existing mortgage or debt, this is known as a short sale. Most of the time, lenders seek short sales when the borrower is in default (the last step before foreclosure), but this isn’t always the case. The borrower may be current on their payments yet owing more than the house is worth.
19. Make a short-term rental investment
The rental demand for such homes is expanding as tourists increasingly seek “alternative accommodation” choices to hotels. Lease out your rooms to Airbnb and other short-stay outlets and make extra income
20 CONVERT MORE WEBSITE LEADS
Attracting leads to your website is generally the most difficult challenge that many people are unable to overcome. However, thanks to the plethora of internet advertising alternatives, you can virtually instantly generate visitors to your landing sites. If you’ve opted to focus on growing your digital presence, boosting the number of leads that sign up on your website may help you increase your revenue significantly.
21. Locate and Buy Pre-Foreclosures
When borrowers default on their mortgage payments, a mortgage lender may file a pre-foreclosure, also known as a “lis pendens.” It’s the first public notification that a property is in danger of foreclosure. There are many listing options available, many of which aren’t even short sales. For an investor, a thorough examination of pre-foreclosures will reveal homes that may be acquired for less than market value.
22. Pay Special Attention to Lease-to-Own Properties
This is a method to reach out to a new group of renters who would like to purchase one day but aren’t ready to make full just yet. These tenants can usually pay more than the ordinary renter and can put down a small deposit. The first step is to develop a reasonable lease-to-own structure for both you and the renter. You still have a higher income if they don’t buy the home, and if they do, you have an exit strategy for the property and may go on to other assets.
23. Become a Home Inspector
A good home inspector is like a superhero for anyone looking to buy a house. Hiring one for a few hundred dollars will save you many hassles and a bag full of cash. It’s also an excellent job for folks who have experience in building and wish to start their own real estate company. Home inspectors may command premium charges in a growing market.
24. FIX AND FLIP PROPERTIES: Fixing and flipping properties is a great way to make money in real estate in the short term. To make money, house flippers look for undervalued properties that need repair, fix them, and then resell them for a profit.
25. Purchase and Sell Bank-Owned Properties: A property that has gone through the foreclosure process and failed to sell at the foreclosure auction is known as a bank-owned or Real Estate-Owned (REO) property. Purchasing REO houses can be less dangerous than buying homes at foreclosure auctions in various aspects. When a property is returned to the bank, the lender clears the title of any liens, evicts tenants if necessary, and may even do minor repairs to get the property ready to sell.
With the above 25 ideas shared within two posts, which can you start with today? Speak to Piedras Properties today, and we can assist you in making your money with real estate. Leave a comment below with the idea that resonated with you.
