
There are many ways to make money in real estate. For the broke and the inexperienced, there’s the business of wholesaling houses. Wholesaling is a method of flipping (or buying and selling) homes wherein an investor places an investment property under contract and then finds buyer for the contract. In essence, a wholesaler brings a motivated home seller and a buyer together.
For those who have no investment capital or an extensive background in real estate investing, being a wholesaler is the perfect real estate job for them. Wholesaling doesn’t require a huge start-up money because unlike when doing a conventional flip, you don’t have to buy the property itself. You just have to give a deposit and help the seller get rid of his unwanted home. It’s as simple as that.
On the other hand, if you’re looking for a more challenging method of investing in real estate, there’s managing rental properties. Many real estate investors shy away from being a landlord because of the amount of work and effort it entails. With the right mindset and good managing skills, however, you can create a steady stream of income that can help you prepare for your retirement or help you save for your children’s college fund.
The key to becoming a successful landlord is to set up a system that will allow you to manage your rental properties with ease. Once you have laid a strong foundation for your business, you can just relax or go on a cruise in the Caribbean as rental income comes pouring into your bank account.
Bear in mind, however, that making mountains of cash in the real estate investing business is fairly impossible if you don’t have the willingness to learn. Success in this business is founded on the principle of “knowing what you do and doing what you know.” Therefore, if you don’t want to end up as failure, you should also invest in your real state education.
To learn more methods of investing in real estate, visit www.REIWired.com.