Tired of the day job grind? Want to get your financial future in order?
Real estate holds an appeal that is hard to deny. It is tangible, can provide a steady cash flow and can help you achieve financial freedom.
If you are looking to invest in real estate, there is no better way than starting with the most convenient, profitable, and least expensive investments available. Yes, we are speaking about the real estate side hustle.
Side hustles are an excellent way to diversify your income, test out a new area of real estate or even your career. In order to grow your business, side hustles are sometimes necessary. You do not need a lot of money to start one and to quit your job either! Here is a list of top real estate side hustles that investors can do on their own to help them save money, achieve their investment goals faster and diversify their spreadsheets.
Rent your Extra Room
Rent out an extra room in your house or flat to earn extra money monthly. Renting out a portion of your home has become one of the most popular methods of earning money from real estate investments. It is especially appealing if you live in an area with high housing costs but do not have enough space for roommates or family members who need temporary housing when they move into town. Consider renting out a spare bedroom or even a couch on sites like Airbnb or Craigslist if you have one.
Flipping houses is when someone buys a property at a low price (usually because it needs repairs), fixes it up and sells it quickly at a higher price than they paid for it. There are several different ways to flip a house: You might buy an empty house and fix up the interior yourself or hire contractors to do all the work; you might buy a house that needs repairs and sell it after making those repairs; or you might find an already-fixed-up property that has been sitting on the market too long and purchase it at a discount with plans to resell quickly at a profit.
Be a Real Estate Mentor/Trainer
Real estate mentors in Australia are always in huge demand, and this is a great way for you to earn some extra penny for your real estate investing journey. Most of them would desire to have mentors by their side to avoid painful mistakes, stressful situations and to gain mental peace. While others would like to gain knowledge before putting their legs into hot waters. Either way as a real estate mentor, your knowledge and experience might help an early investor to make a wise decision before investing.
Starting a real estate investing blog is the perfect side hustle for property investors. You can use blogs to impart your expertise and knowledge to others who are looking for assistance in purchasing investment properties. You can also use your blog to generate leads by requesting people to subscribe to your mailing list and then sell them your premium courses.
This is also a great way to establish credibility as a subject expert because it demonstrates your willingness to share information and help others.
Educate people through your YouTube videos
Create a real estate investing YouTube channel. To create videos, hefty or specialized equipment is not required. You just require some basic tools, including an HD camera, a tripod, and a microphone, as well as some video editing abilities. You can begin by creating videos on real estate-related topics, such as buying properties, selling them for a profit, or becoming a landowner.
Be a Real Estate Investment Influencer
Once you ace the YouTube game, you can then increase your digital presence. You can set up your own website and offer some courses. If you are a good orator, you can also launch a podcast channel. There is a lot of scope for influencers on Instagram. You can start promoting your blog posts or spreading information about real estate investment tricks and tips on your Instagram page. Similarly, spread your wings across all digital platforms.
In today’s turbulent economy, these side hustles are proven ways for real estate investors to save money and grow their wealth. You can try any of these side hustles to make some extra money each month. Whether you are saving for an emergency fund, paying down debt, or investing in your first property, starting small is key.