Today, Americans have $14 trillion in debt. The average consumer debt, not including mortgages, is $38,000.
Due to this, you might feel like you're in a bind, trapped, and that there's no way out. While this can feel like a challenge, there are ways to earn extra money.
Have you ever thought about investing? Then, read this guide on the best ways to invest in real estate today!
Buy REITs
REITs, short for real estate investment trusts, have you invest in real estate without the physical property. These companies own commercial real estates such as retail spaces, office buildings, hotels, and apartments.
They're a common investment since they pay high dividends. If you don't need that money immediately, place it toward other dividends.
Some aren't publicly traded, while others are on an exchange like stocks. Non-traded REITs aren't easily sold and might be hard to value.
If you'd like publicly-traded REITs, you can buy them through a brokerage firm. You could also buy into a fund that has many REITs
Airbnb
Whether you rent out a room or buy a home through airbnb business for sale here, it could be a viable option for extra cash. If you're looking for something passive, you could hire a property manager. They'll handle the day-to-day, emergencies, and they might even help out with accounting.
The great part about investing in real estate this way is that they're not long-term tenants. You could have multiple tenants over the course of time. If you have a spare room, you could rent it out for extra cash.
Flip Houses
One of the quickest real estate investments is flipping homes. You'll want a sharp eye to find affordable properties that you could flip fast.
You'll see a profit much quicker than managing a property. Once you make changes to the home, you'll increase the price to sell it.
If you're incorrect about the profit, this could lead to a loss. Homes could stay on the market for a while, and then you're paying interest
Use Real Estate Platforms
Platforms such as Crowdstreet and Fundrise allow you to have real estate investments without spending hundreds of thousands. They connect investors with developers for potential gains.
Investors might receive a portion of a strong deal. Investments might be cash distributions which allow investors to diversify their portfolio.
Some platforms might only accept accredited investors. While some expect you to pay thousands, others might only require a few hundred
The Top Ways to Invest in Real Estate
After exploring this guide, you should better understand the top ways to invest in real estate. Take your time deciding which option is right for you, and pay attention to your budget.
Would you like to read more informative and educational content? Then, check out our other articles today! From real estate tips to lifestyle hacks, you won't want to miss out!