Real estate side hustles comes in many different flavors, including:
Which one is best depends on your goals, available time and money to invest, and risk tolerance.
For example, while I LOVE the idea of building a mini real estate empire and having tenants pay off my mortgages, the direct cash returns and the risks involved don’t get me that excited. At least for the moment, I’ve steered toward some more passive real estate investing options.
Check out these real estate-themed posts and podcast episodes and choose which strategy makes the most sense for you.
According to Neighbor.com, you can make money turning your extra space into into storage.
But is it a legit side hustle? How does Neighbor work — and how much work does it take?
In this review, we’ll explore the pros and cons of Neighbor.com, so you can decide if it makes sense to monetize your unused space.
Cash-flowing $10k a month from a portfolio of mobile homes.
Sounds like a great side hustle, doesn’t it?
It is.
When most people think of real estate investing, mobile homes probably don’t come to mind. In fact, technically speaking, mobile homes are personal property – not real estate.
Rental arbitrage gives you a way to make money with Airbnb — without owning any property.
Traditionally, building a real estate side hustle takes big bucks for down payments, closing costs, and renovation projects.
But enterprising short-term rental “moguls” are questioning if owning the property is even necessary. These rental arbitrage entrepreneurs sign long-term leases, and then turn around and sub-let the property on a short-term basis — profiting on the spread.
The passive income dream is real for Dustin Heiner of MasterPassiveIncome.com, he’s currently making $15k a month with around 30 minutes time investment on his part.
Dustin has achieved this by following a systematic approach to buying and letting out properties.
He started with his first property back in 2006. Within 6 years he had 19 properties, and within 9 years he had 26 properties and had retired from his day job at the age of 37.
Roberto Chavez started his raw land flipping side hustle a little over a year ago, and with persistence, has already built it into 5-figures of monthly revenue.
This is a business model that was first introduced to me by Mark Podolsky, from TheLandGeek.com, in episode 108 of The Side Hustle Show.
He called it “the best passive income model” because it avoids “the 3 T’s” of traditional real estate investing: tenants, toilets, and termites.
Buy a house.
Rent it out.
Tenants pay it off for you.
It’s possibly one of the oldest side hustles in the books, right?
Done right, owning rental properties can be an attractive long-term income and wealth-building strategy. But done wrong, it can be a recipe for headaches and a mountain of debt.
Corey Jeffreys turned an $800 investment into $3k in the first year and has been growing his business and adding more automated processes each year.
His entrepreneurial adventure began by exploring the world of real estate investing, when he happened upon a slightly different rental business model: inflatable bounce houses.
It’s like owning a parking lot, Jefferson Lilly explained. And you can earn 20% cash on cash returns too.
That got my attention, though those returns are coming from a surprising real estate niche: mobile home parks.
Zeona McIntyre is earning $12-18k a month through her portfolio of vacation rental properties and her “co-hosting” service for other property owners.
All this has afforded Zeona financial independence at a very young age, as she built her operation largely by piggybacking on the growing popularity of Airbnb.
This is the second in what will (at least) be a 2-part series on side hustlers earning income from their land investment endeavors.
In this special Friday edition of the show, I’m joined by Chris Pritchard. Chris is a software developer by day, but has built his land investing business up to $1500/mo in recurring revenue.
In addition, Chris does the occasional cash flip and also has more than $70,000 worth of land payments under contract. Not bad for a year of dedicated focus and effort!
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