Best Side Hustles To Start Making Profits In Real Estate
Modern work is required in today’s economy if you want money. That’s why every person should have a side gig. You can make more money by having a side job that allows you to save for retirement and pay off student loans. Side hustles have been around for a long time, but more people are now trying to get into this lucrative market. Over the past three years, about two-thirds (or more) of Americans who have a side business started one. Another 21% started their side hustle in 2021. It can be difficult to choose which type of side hustle to focus on if there are many options. Many of the most successful side hustles can help you make money in real estate. For area calculation, use the area calculator.
What are the best side hustles?
Side hustles are, simply put, side jobs or part-time jobs that you can manage in addition to your main career or moneymaking methods. The best side hustles have a few key characteristics, such as flexibility in scheduling, growth potential, and high earning potential.
Side hustles can be as diverse and individual as the people who do them. However, you can choose which type of side hustle to pursue based on your professional skills and interests. Get the help of the land area calculator to calculate the area.
Let’s now look at the top nine side hustles that can help you make money in real estate.
1. Register Your House on Airbnb
You can list your house on Airbnb. You can make money by renting out your garage or spare bedroom to people. Airbnb can make you an income from all your properties – this is a great way to make side money if you have extra space that you don’t use.
Nevertheless, it is important to remember that not all guests are the same. Additionally, you will need to pay fees to use the Airbnb platform. You may also need insurance for your property. Despite these possible downsides, you can still make up to $1000 per month depending on the location of your home and how much your property is valued. Airbnb allows you to clean up and prepare your space for guests.
2. Start House Hacking
A great way to make an income while still maintaining a roof over your head, if you are just getting started in real estate investing, is to “house hack.” This involves purchasing a multiunit property, renting out the rest, and then living in one unit. You can simultaneously work in another field and live in the multiunit property while collecting rent from tenants.
This side hustle is great. This gives you valuable real estate investment experience that will help you in your future career. Depending on the number of units that you rent and the maintenance costs, you could potentially make thousands of dollars a year.
3. Virtual assistant in real estate
Virtual assistants are people who work for someone else over the internet and do everything from setting up travel itineraries, keeping track of schedules, reminding them, and sending reminders. You can work as a virtual assistant in real estate to help Realtors keep track of their schedules and meet clients on time.
You can also work as a virtual assistant for a real estate company, and take people on virtual tours of houses for sale in this era. Although virtual assistants do not make a lot of money, this side job is very flexible in terms of schedule. This side hustle can help you make extra money whenever you have the time.
4. Become a Real Estate Blogger
A blog is a popular side hustle, especially for real estate investors. Blogs are not guaranteed to bring in income right away, which is the main problem. It takes time and effort to build a blog and write educational and informative content that ranks well in Google’s search engine algorithms.
However, once you get the hang of it, your blog’s earning potential can grow exponentially. In a year you can make $1000, and then your blog will scale to make thousands more. A real estate blog is a great way to express your creativity and share your knowledge with other investors who are just beginning in the industry.
5. How to make “Bird Dog Real Estate”
Learn how to “Birddog” real estate and you will be able to identify properties that have the highest potential for investment. This method allows you to sell or buy properties and connect with other Realtors. You won’t make a lot of money initially, so it is worth taking the time to learn and practice. You may eventually earn thousands of dollars a year by grabbing smart deals before everyone else.
6. Get Started Wholesaling Real Estate
Wholesaling real property means you can contract a house that has been sold and find a buyer. This allows you to sell your home for more than the price you paid and keep the profit. This is a great way to quickly earn a side income and can potentially make you hundreds of thousands of dollars a year if your skills are good enough.
7. Be a general contractor
General contractors can do the work of repairing or building for Realtors in your local area. You can become a general contractor if you aren’t sure whether the selling or buying aspect of real estate is for you.
This is a lengthy process and you will need to start a general contractor company. This side hustle can still make millions of dollars over time, and you’ll be able to build relationships that will help you get more clients. Your contracting business may eventually become your main hustle, rather than a side gig.
8. Get Your Real Estate License
You can also get your realty license and become a realtor to make a side income selling real estate properties. This is a very lucrative business if you have enough contacts in the industry. It does require a lot of study and time to obtain your real estate license. This may not be the best option if you are looking for quick profits and ultimate flexibility in the near future.
9. Get Started Flipping Homes
It involves buying low-value houses and then renovating them to make a profit. This requires a lot of work from you and some capital that you will need to either save for or obtain financing. House flipping is a lucrative business that can make you a millionaire. Depending on how many houses are flipped, you can make hundreds of thousands of dollars annually. However, it may take several years to reach this level.