How To Start Making Real Money – This post may contain affiliate links that allow you to receive a small commission for the products and services we use and offer.
Making money in real estate is not difficult. Not with different ways of doing it!
How To Start Making Real Money
In fact, we’ve come up with 55 different ways to make money in real estate. All you have to do is choose the methods and commit.
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Quick note: Since there are so many money makers, we can’t go into every one of them in depth in this post. But don’t worry. Most of them are self-explanatory, and for those who don’t understand, we link to other resources to find more information.
To add order to this huge list, we divide the methods of earning money into 5 categories:
We will start with the known methods of making money in real estate through traditional means. Many people have a “day job” in real estate. And the rest is a classic side income from real estate.
When you think of making money in real estate, you think of real estate agents, right? So of course it was at the top of our list.
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Are salespeople moving out of state? Send them to another agent! Most agents charge a referral fee of between 20-35%. That’s a good return for spending a few minutes connecting people!
Some real estate companies offer residuals to agents who recruit other agents. If you bring another agent to your firm, you will receive a small portion of all the business the new agent brings to the firm. Again, you get paid to connect people. Ideally, you’ll be paid to help other agents succeed.
Want to cut all the sales from an office full of real estate agents? Do you enjoy the business side of real estate more than sales? Maybe you should start your own broker.
If you find ways to be highly successful as a real estate agent, you can become a real estate coach and share your knowledge with other real estate agents. Think Tom Ferry or Brian Buffini.
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Do you really want paperwork and to-do lists over closing the deal? How to specialize as a transaction coordinator? Many agents want to focus on interpersonal relationships with clients rather than small transactional work. So they happily pay a transaction coordinator to handle it.
Instead of helping buyers find a new home, you can pay renters to help them find a new home. Property managers manage rental properties, screen tenants, handle maintenance requests and ensure rent is collected. It only takes a little organization to stay on top of your portfolio, so make sure you invest in inexpensive yet effective property management software.
Likewise, you can go into commercial property management to do the same for commercial spaces like offices, stores, and entire malls.
If you enjoy the selling aspect of real estate but struggle with fluctuating income and late hours, consider renting an apartment. Leasing agents typically work 9-5 (although weekends are usually required) in large apartment communities. They focus on marketing the units, visiting the community with potential customers and screening tenants.
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The money can be good as there is usually a base salary and leasing commission. I was able to make more than $70,000 a year renting an apartment in Los Angeles.
Vacation rental management is somewhat similar to property management, but is more labor intensive due to the high turnover. Instead of staying with a tenant for 6 months to a year, you can book a vacation for one night.
Airbnb owners have discovered that managing the short-term vacation rental process can take much longer than they expected. So they are looking for managers to handle orders, queues and general customer service.
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If you have project management skills, you can manage amendments and transfers for out-of-region investors. In hot markets, you often have out-of-area investors who want a piece of the local action, but it’s not practical for them to personally manage the flip. This way you can manage the project for them. Order all materials, coordinate all suppliers, and make sure everything is done on time and on budget.
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Many people are not familiar with the concept of executive office suites. It’s basically a shared office space. An executive apartment company rents an entire floor (or 2) of a skyscraper and divides those floors into private offices, which are then rented out to small businesses and sole proprietors. All tenants on the floor share facilities such as conference rooms, kitchens and receptions.
As a manager, you will be responsible for finding and screening office suite tenants and keeping all your tenants happy.
If you enjoy inspecting physical structures and have an eye for detail, you can make a good real estate surveyor. Certification is required, but you can earn good money with regular hours.
And if you’re a numbers guy who prefers filling out CMAs to showing homes, appraisals may be the best way to make money in real estate. Certified appraisers are in demand in all market conditions. In a hot market, you are appraising properties for new loans, and in a downturn, you are appraising REOs all the time.
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The great thing about making money with content online is that you’re probably doing the hard part for free. It only takes a few steps to turn your hard work into success.
As a real estate agent, you should blog, podcast, and/or broadcast on your YouTube channel. The main goals of creating content on the Internet:
That’s why you should create online content just to promote your real estate deal. Now what if you could monetize this content? Has this content become its own stream of passive income? Are you interested?
Affiliate links are links to a blog, podcast, or YouTube channel that help promote a useful product or service to your audience. Consider them automatic links.
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I love affiliate links for real estate blogs because they are so versatile. Amazon is the easiest affiliate program to join and they have almost everything your audience could want or need.
Posting about a home for sale? Include links to helpful Amazon household items. Posting for first time hosts? Include a link to a quality toolkit because you know they’ll need it!
And those links are win, win. Your audience gets easy access to a useful product, you get a commission, and the seller makes a sale. Everyone wins!
We use ads on this site because we provide 99% of our content for free and ads provide enough money to continue providing free content.
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But be careful not to use ads in your real estate content. If the primary goal of your content is to attract new customers, focus on your audience and don’t distract them with ads. But if you’re only publishing content to be useful (for example, helpful tips for homeowners or information about local events), advertising may be appropriate.
You can use Google Ads (the fastest and easiest way I’ve found to add ads to your site) and get paid every time someone clicks on your ads. Or you can sell ad space to local businesses for a fixed fee.
You see this a lot on food blogs. In the recipe, the blogger recommends a certain brand of barbecue sauce, orange juice, chilled batter, or something else. They explain why this brand works better in your recipe than other brands and tell you where to buy this brand. This brand may pay for this post (but smart bloggers only accept sponsored content they trust, because if they do otherwise, they’ll bite you!).
If you’re making a light bulb replacement video for homeowners, maybe your favorite electrician wants to sponsor a post. They’ll pay you to say something like, “If there’s a problem, it’s only a phone call away.”
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The cost of sponsored posts mainly depends on the number of views of your posts. If you’re relatively new, $20 is a good starting point. Once you have a large following, you can easily manage hundreds of people for sponsored posts. All this for a post you’ll be publishing anyway to benefit your audience and increase your online presence!
With a membership content model, your members pay a monthly, quarterly, or annual subscription fee to access a library of information. This model is really popular in the health and fitness industry, where readers pay a monthly fee for new meals and exercise plans. It is ideal for this industry.
Major Real Estate Resources DRIP is an example of member content. With DRIP, you have access to new social media posts and newsletters ready to share with your social media followers and customer base. It’s an easy and affordable way to stay sane
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