Ways of Earning Money in Real Estate Without Being an Agent
The building, buying, selling, renting and managing valuable and immovable property is known as real estate. Examples of real estate properties are land, houses, and buildings. A lot of people have discovered that real estate property is always appreciating and this has led to high demand for the real estate property. One of the major players in real estate is an agent. An agent is a person who represents real estate buyers and sellers. Some people would like to make money in real estate, but they dont want to become agents. Below are ways you can make money in real estate without being an agent.
Rentership will enable you to make money in real estate without being an agent. Today, rental units are in high demand. You only need to buy a property and rent it out. Renting it out will help you to pay the mortgage without getting the money from your pocket. It is advisable to start by offering triplexes and duplexes. By renting out commercial property which has several units, you will make more money. To understand rentership better, please read this guide.
Wholesaling is another way of making money in real estate if you dont want to be an agent. In wholesaling, you will not invest anything. By looking for a deal from a seller, writing the deal and selling it on a higher price, you will earn an income. An excellent real estate wholesaler should be good in negotiation and searching for deals.
Fixing and flipping is another way of making money in real estate. In fixing and flipping, the 70% rule is fundamental. In fixing and flipping, a poorly maintained property is bought. You should then repair and upgrade the old property and sell it. You cant succeed in fixing and flipping if you dont know the 70% rule.
You can make money in real estate without being an agent by lending hard money. If you dont qualify for a loan which is conventional, you can still own property. Some people do not want to borrow conventional loans because of the numerous requirements. You can lend hard money which has short repayment periods and higher interest rates.
You need to buy notes and you will make money in real estate. The other name of note is a deed. The mortgage lender holds on deeds after issuing a loan to a borrower. The borrower is supposed to repay the mortgage loan to get the deed. You only need to purchase some notes, and the monthly payments will be issued to you.
The real estate non-agents are also making money by managing a property. Property management will enable you to earn at least 5% of what the tenants pay.