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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 a real estate side hustle is ideal 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. And, real estate investors in particular make a lot of money!
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 the real estate industry.
10 Real Estate Side Hustles
Try any or several of these income earners in the real estate industry.
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 real estate license.
State and city licensing laws will differ from each other, so be sure to check out what they are in your area before considering it as a real estate side hustle.
Real estate agents can make a ton of money so you may even consider this as a full time real estate career.
More Reading:
2. Try Real Estate Crowdfunding
You might be interested in real estate investing but don’t have the capital to do it. But these days you don’t have to!
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 real estate investors, you put in money 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.
But as far as a real estate side hustle, this one is pretty easy to get involved with! And it is passive income, so all you have to do is invest money. There’s literally no work after that!
Some of the more well-known real estate crowdfunding sites to get started on are Crowdstreet, Groundfloor Finance and Fundrise.
Check out this comparison of CrowdStreet vs. Fundrise.
One of the additional benefits of this is that you can invest in multi family property even without tons of capital. It is very easy to start investing in real estate by leveraging one of these sites.
Become a Real Estate Investor
Crowdstreet: Invest in real estate projects the easy way!
If you are looking to learn about becoming a real estate investor, here are two great books to start with:
“How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing” written by Brandon Turner, the well known real estate expert with a podcast called Bigger Pockets.
The Real Estate Rulebook by Pam Brantley tells how she built wealth investing in residential real estate.
3. 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, like $8,500 a month!
Although not completely hands-off, rental properties like Airbnbs are less demanding than a second career where you work every day to earn money.
Being an Airbnb host is something you should absolutely think about if you have a vacant room or space. You can start making rental income ever month.
An apartment, single-family house, houseboat, bungalow, or even a treehouse might be used as rentable space. And you can buy an entire property as a real estate investment just for short term renting like this.
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. Use an automated pricing and revenue tool like Beyond to maximize your earnings and make your life easier!
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 before starting this real estate side hustle!
More Reading: Passive Income Ideas for Students
4. 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.
This is an excellent real estate side hustle for women as well because you can set your own hours. And, you can make money in an hour if you need some fast cash. Plus, you can provide notary services for many situations, not just in real estate.
It may not be a well known job of real estate professionals, but why not give it a shot if you meet all of these requirements?
Related: Side Hustles for Stay at Home Moms
5. Fix Up And Flip Houses
Purchasing fixer-uppers and fixing them to resell for a revenue is one of the most lucrative side hustles in real estate investing. And due to the popularity of fixer upper shows, probably one of the most well-known ways to earn in the real estate industry.
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.
You can leverage house flipping for an immediate profit, or you can do this and turn the homes into rental properties that earn monthly income.
Related: Side Hustles for Women
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. And real estate professionals hire stagers for this.
Styling homes may be a truly enjoyable method of earning money in real estate without becoming a broker.
You can launch it as a side real estate 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, will help you analyze various American communities for real estate investment.
Before you become a real estate investor, you will need to research these things. You can use this to identify a suitable starting point for your hunt for real estate bargains.
8. House Hacking
This can mean different things. For some people it might be buying a fixer upper home and renovating it while they live in it.
After two years, you can sell the home and avoid capital gains taxes because you lived in it and make a nice profit. Then, you can do it again, and again.
House hacking can also mean buying a home that has a part of it you can rent out. Maybe a finished basement apartment or a renovate, livable garage space.
I owned a home that had a private suite on one side. I rented that out on AirBnb and made a cool $2,000 a month. Every month!
When it comes to making side income from real estate, this one is one of the best side hustles.
Related reading: 11 Businesses that Run Themselves
9. REIT Investing
REIT investing is actually something you do on the stock market. You are investing money in real estate trusts that own a whole bunch of commercial properties.
They can be in stocks, mutual fuds and EFTs. This may be a little bit riskier since it is technically trading stocks however.
Motley Fool will give you insider information and tips on what stocks to buy.
VectorVest: Stock analysis to help you know what to buy and what to sell!
10. Do OFfice Work
Real estate professionals don’t always have to have a real estate license! You can work in an office without one.
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.
11. Start a Real Estate Photography side Hustle
Another great way to make a side income 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 real estate properties.
In addition, you can take pictures of short term rental properties for their AirBnb listings. There is a lot of demand for real estate photography, making it an ideal way to make supplemental income.
12. 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. In either case it can generate a lot of extra cash.
What Are The Benefits of a Real Estate Side Hustle?
There are a ton of benefits to generating money on the side in real estate:
- Some of the side hustles generate passive income to you don’t need to invest a lot of time.
- You can make a lot of extra cash
- Money you make can be used to make even more money
- You may get the chance to meet more people
Frequently Asked Questions
How Can I Make Extra Money in Real Estate?
If you are just looking for ways to make side hustle money and extra income from real estate you can try any of the things we’ve mentioned in our list.
But, when it comes to extra income, these are probably the best ways to earn:
1. Own a rental property or AirBnb property (Or rent part of your home on AirBnb)
2. Fix and Flip a house
3. Invest in crowdfunded real estate on sites like Crowdstreet
4. Become a licensed real estate agent
What Type of Real Estate Makes the Most Money?
Owning your own property is the most lucrative real estate business you can start. Whether you are doing a fix and flip for profit, or buying properties to rent, you can make a lot of money through home ownership.
In addition, becoming a real estate agent can be lucrative, but only if you are doing it full time and are able to get a lot of clients.
If you can get an income stream from more than one real estate business or job, that is the way to increase your earnings.
What Do You Need to Get Started with a Real Estate Side Hustle?
It really depends on which side hustle you decide you want to do! If you want to be an investor, own a rental property, or do a fix and flip, you will need some money.
However, if you decide to be a notary or a home stager, you won’t need any money, just the time to put into the work. You will need to get licensed as a notary.
And, if you want to become a real estate agent, you will need of course to get licensed. And you will need to purchase a course and pay any state licensing fees. But, many online courses are as low as $200.
IS Real Estate Worth it as a Side Hustle?
100%. I speak from experience since I have made money renting homes, and even a private suite in my own home on AirBnb over the years.
It is one of the best ways to make passive income! Whatever side hustle you choose, opting for one in real estate will mean you can make good, consistent money.
What are the Best REal Estate Side Hustles?
I may be biased, but I think renting homes or space in your own home on AirBnb and VRBO is the best way to generate extra income with real estate. It doesn’t require a lot of time, and if you already have a home with rentable space you won’t even need any money to start it.
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.
Good luck!
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