How to Make Money in Real Estate 2020
How to Make Money in Real Estate 2020. You want to get into real estate? But you're wondering, where do I start? How do I make money in real estate? So getting right into it, there are many ways to make money in real estate! I’m going to distill down the top 5 ways to make money in real estate.
#5 in our countdown is to make money in real estate is through becoming an agent. This is an obvious path to lots of people. Becoming a real estate agent means that you’re representing either a seller of a home or a prospective buyer.
#4 Countdown on how to make money in real estate is Wholesaling. Now there’s wholesaling and assigning contracts which two are often in the “murky waters” when it comes to defining these two concepts.
Wholesaling in its purest form started in the early 2000s when wealthy investors started buying a large number of real estate for a very cheap price. Then, they will turn around and sell a good portion of the real estate individually at a higher price.
Wholesaling has also evolved into a form of assigning contracts.
In assigning contracts, all you’re doing is placing a real estate under a contract (basically a promise to buy) and then selling the rights to that contract to another person so that they can buy the real estate.
#3 In the countdown is the good ole house flipping. This concept has been popularized by TV shows.
In fixing and flipping, it may sound like a simple business but it requires a ton of knowledge in construction, the local economy, and neighborhood happenings. Most house flippers make most of their money because they can get the best deals in construction costs as well as buying cheap real estate at the right time.
#2 in the countdown of how to make money in real estate is Buy & Holds. This is our bread and butter business for us in the Kwak Brothers. Buy & holds, simply put - buying rental properties - is one of the most profitable ways to create reoccurring income while building wealth.
Just picture owning 5 houses that pay you $1,000 a month in rent. That’s a total of $5,000 gross income that you’ve added to your monthly income with very little time spent.
This is another business that may seem really simple but just like flipping houses, you have to understand the local economy, art of negotiations, managing tenants, and your neighborhood.
#1 in the countdown! The most profitable way to make money in real estate. DRUM ROLL PLEASE!
IS… to become a Lender. Yup, in my opinion, this is the best way to make money in real estate.The most wealthiest organizations in the face of the earth are the banks. Now of course, you’re going to need a lot of money to become a bank. There are lenders who only lend on real estate, often called hard money lenders.
Think about it, when you lend money to others looking to get into real estate, you’re letting your money do all the work. While you collect interest and fees for lending money out, you have all the time freedom in the world.
Most of you are thinking, I can’t do this. I don’t have the money. This is impossible. Well, with that kind of a mindset, of course it’s not.
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--DISCLAIMER-- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.
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