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No matter where you are, or what you are doing right now, you are undoubtedly aware that navigating life can be pretty difficult.
The cost of living is only getting higher, and it is getting harder to maintain a steady, comfortable lifestyle.
According to recent surveys, roughly 50% of Americans who work full-time engage in side businesses as a result of insufficient or declining income.
Getting involved with real estate is the ideal side business for getting a solid return on your investments. A side hustle in real estate might bring in hundreds or thousands of dollars per month.
A real estate line of passive income could be a good way to make additional money and find a new passion if you work in real estate, or are seeking to learn more about the field.
In reality, there are a ton of methods to make extra money in the real estate sector.
In this article, we will look at 10 different side hustles that are perfect for anyone interested in working in real estate.
10 Real Estate Side Hustles
1. Become A Part-Time Real Estate Agent
Clients use a real estate agent to purchase, resell, or lease homes. They offer clients advice on relevant topics such as legal requirements, mortgages, real estate values, and housing market situations.
Agents also assist in the drafting of documentation such as purchase agreements, closing statements, and rentals.
Part-time real estate agent work can be a very lucrative side job. However, before you start earning money in real estate as an agent, you must first obtain a license.
State and city licensing laws will differ from each other, so be sure to check out what they are in your area.
2. Try Real Estate Crowdfunding
Crowdfunding can be a fantastic passive investment in real estate if you don’t want to buy your own residential property, or don’t currently have the funds up front for a mortgage.
In collaboration with other shareholders, you do this to fund commercial properties, as well as other developments, and benefit when they are profitable.
There are many different kinds of facilities and projects to engage in, each with a different rate of return and payment schedule.
Crowdfunding for real estate carries some dangers, so be sure to exercise caution. Real estate doesn’t always profit as anticipated, and sometimes projects fail to finalize.
3. Become A Notary
One of the simplest side jobs in real estate involves becoming a notary.
A notary is essentially a person who has been given the official authority to act as an objective eyewitness during the registration of legal documentation.
The law only considers a document to be valid once it has been notarized. Therefore, this is a position that is very important, yet is fairly simple to do.
You must be older than 18 years old, be able to speak English, and be a legitimate resident of the state where you live in order to become a notary in the US.
Why not give it a shot if you satisfy all of these requirements?
4. Host On Airbnb
Of all the real estate side hustles you can do, this is my favorite. But, that is because I have made a lot of money doing it!
Although not completely hands-off, rental properties like Airbnbs are less demanding than a second career where you work every day.
Being an Airbnb host is something you should absolutely think about if you have a vacant room or space.
An apartment, single-family house, houseboat, bungalow, or even a treehouse might be used as the space in question.
You only need quality images of your space and an excellent description to list your home or space on Airbnb. You can decide when to host, how much to charge, and what guidelines to follow for visitors.
Always keep in mind that Airbnb will collect a little commission if you have visitors. Additionally, before listing on Airbnb if you are a renter, be sure to seek your landlord’s clearance first.
Check your local laws and regulations first though!
5. Fix Up And Flip Houses
Purchasing fixer-uppers and fixing them to resell for a revenue is a lucrative side business in real estate.
You will need the capital and good financial standing for a loan and the money to renovate.
But, you can potentially make thousands of dollars from a flip. Just make sure you do your research first! Understand how much a renovation will cost and make sure there is potential profit before you start a project.
For real estate agents who want to fix and flip properties, there is an advantage since you find out about potential fixer-uppers before they become available to the greater community.
6. Become A Home Stager
You’d be ideal for a side hustle in house staging if you enjoy interior design and have a natural instinct for a simple, modern aesthetic.
Here, a home seller totally declutters their house while a designer furnishes it with upscale decor and original artwork to give it a professional appearance.
Typically, home staging occurs before advertising photos are taken. A home is more enticing to purchasers if nice features are added and the seller’s clutter is removed.
Styling homes may be a truly enjoyable method of earning money in real estate without becoming a broker, regardless of whether you launch a side business or work part-time for a staging company.
7. Become A Real Estate Property Locator
Another of the top real estate side businesses is being a property locator.
A property locator is a person that assists investors in real estate in locating excellent bargains. A property locator can make a significant amount of money with the appropriate strategies and tools.
Mashvisor is one of the top resources for discovering investment homes. You can use this company’s real estate heatmap as a starting point.
Employing criteria like the Airbnb occupancy rate, cash on cash return, rental revenue, and property listing price, you may analyze various American communities for real estate investment.
You can use this to identify a suitable starting point for your hunt for real estate bargains.
8. Do OFfice Work
Real Estate Social Media
In recent years, social media has developed into a tremendously influential advertising tool, and no business can now survive without it.
Corporations and real estate agents are constantly seeking for new ways to promote themselves on websites like Twitter, Instagram, Facebook, and TikTok.
You can offer services like designing graphics, producing social media posts, and managing promoted advertisements for realtors and real estate agencies if you have the experience and expertise to do so.
Become A Virtual Assistant
Administrative work for real estate offices can be completed remotely by a virtual assistant.
Depending on the person’s set of skills, the precise tasks performed by a virtual assistant can range from administration to specialized.
Typical duties including placing and taking telephone calls, answering emails, organizing personal and professional calendars, coordinating property showings, and much more.
Building your administrative, advertising, researching, and interpersonal abilities is facilitated by working as a virtual assistant.
The best aspect is that you may complete all of this work from a desk at home or in an office. This is a simple approach to start making money in real estate.
9. Start a Real Estate Photography side Hustle
Another great way to make money in real estate on the side is as a photographer.
One thing that is always needed for a house to be listed for sale online is quality photos. If you have some skills, you can make a lot of money taking pictures of houses for local realtors.
10. Get A Lending License
Attempting to obtain your own lending license is the final option on this list.
Real estate agents working double duty as loan officers or lenders is a relatively regular occurrence these days. Why not get your lending license if you’re already in the real estate business?
A lender, often known as a mortgage broker, aids homebuyers in obtaining a mortgage, so they can buy a home.
Depending on your state’s licensing laws, providing financing services on the sideline can be a successful real estate side business. If you work for yourself, it may be much more adaptable.
How to Make Extra Money in Real Estate
These are merely a few real estate side gigs you can try out, and these temporary jobs could develop into full-time real estate careers over time.
Nevertheless, for the time being, they are a fantastic way to begin making extra money in real estate in this day and age.
See where these suggestions lead you by following them! There is no harm in giving it a shot, and we could all use a little additional money. What are you waiting for?
We hope you found this article helpful, and that you have found options that may be feasible for you to try out yourself.
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