Money · October 21, 2022

How To Make Money In Rental Properties

How To Make Money In Rental Properties – This post may contain affiliate links that allow us to earn a small commission on the products and services we use and recommend.

Making money in real estate does not have to be difficult. Not many different ways to do it!

How To Make Money In Rental Properties

How To Make Money In Rental Properties

In fact, we’ve come up with 55 different ways you can make money in real estate. You just need to choose your methods and commit.

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A quick note: with so many money makers to cover, we’re not able to do an in-depth look at each one in this post. But don’t worry. Most are self-explanatory, and for those that aren’t, we’ll link to other resources so you can get more information.

To add some order to this giant list, we’ll divide our methods of making money into 5 categories:

We will start with some well-established ways of making money in real estate through traditional means. Most of these are “day jobs” in the real estate industry. And the rest are classic real estate side incomes.

When you think of making money in real estate, you think of real estate agents, right? So of course it grabbed the top spot on our list.

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Do you have a seller moving out of state? Refer them to another agent! Most agents pay a referral fee somewhere between 20 and 35%. That’s solid pay for taking a few minutes to connect people!

Some real estate firms offer residuals to agents who bring in other agents. If you bring another agent into your firm, you take a small cut of all the business that new agent brings to the firm. Again, you are getting paid to hook people up. Even better, you’re getting paid to help other agents succeed.

Want to take a cut on all sales from an entire office full of estate agents? Do you like the business side of real estate more than the sales side? Maybe you should open your own brokerage.

How To Make Money In Rental Properties

If you have found ways to be very successful as a real estate agent, you can share your knowledge with other real estate agents by becoming a real estate coach. Think Tom Ferry or Brian Buffini.

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Do you genuinely love the paperwork and to-do list for closing the transaction? How about specializing as a transaction coordinator? Many agents want to focus on interpersonal relationships with clients instead of nitty-gritty transactional work. So they are happy to pay a transaction coordinator to handle it for them.

Instead of helping buyers find a new home, you can get paid to help renters find a new home. Property managers market rental properties, screen tenants, handle maintenance requests, and ensure rents are collected. It takes a little organization to stay on top of your portfolio, so be sure to invest in some inexpensive, yet effective property management software.

Likewise, you can get into commercial property management to do the same thing for commercial spaces like offices, retail stores, and even entire shopping centers.

If you love the selling aspect of real estate, but struggle with inconsistent income and evening hours, consider renting an apartment. Rental agents typically work a standard 9-5 (although weekends are usually required) in large apartment communities. They focus on marketing the units, touring prospects through the community, and screening tenants.

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The money can be good because there is typically a base salary plus hiring commissions. I could make over $70K per year renting apartments in Los Angeles.

Vacation rental management is somewhere along the same lines as property management, but is more labor intensive due to the high turnover. Instead of moving into a rental for 6 months to a year, vacation rentals can only be reserved for one night.

Airbnb owners are finding that managing the short-term vacation rental process takes a lot more time than they originally anticipated. They are therefore looking for managers to handle reservations, tours and general customer service.

How To Make Money In Rental Properties

If you have project management skills, maybe you can manage fix-and-flips for out-of-area investors. In hot markets, you often have out-of-area investors looking to get a piece of the local action, but it’s not practical for them to handle a flip in person. So you can manage the project for them. Order all materials, coordinate all vendors, and make sure everything runs on time and on budget.

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Many people are not familiar with the concept of executive office suites. It’s basically a shared office space. The executive suite company will rent an entire floor (or 2) of a high-rise location and divide that floor into individual offices, which are then rented out to small businesses and solopreneurs. All the tenants in the floor share the amenities, such as the conference rooms, the kitchen, and the receptionist.

As the manager, you will be responsible for finding and screening office suite tenants and keeping all your tenants happy.

If you enjoy physically exploring structures, and you have an eye for detail, you could make a good property inspector. Requires certification, but you can make good money working during normal business hours.

And if you’re a numbers person, who enjoys filling out CMAs more than showing houses, maybe appraisals are the best way to make money in real estate. Certified appraisers are in demand under all market conditions. In a hot market, you’ll be appraising properties for new loans, and in a recession, you’ll be appraising REOs regularly.

How To Make Money With Rental Properties: The Beginner’s Guide

The great thing about making money through online content is that you’re probably already doing the hard part for free. It just takes a few small steps to turn your hard work into income.

As a real estate agent, you should be blogging, podcasting, and/or broadcasting on your YouTube channel. The primary goals of creating online content are:

So you should be creating content online, if only to boost your real estate transactions. Now, what if you could monetize that content? Has that content become its own passive income stream? Interested?

How To Make Money In Rental Properties

Affiliate links are simply links on your blog, podcast, or YouTube Channel that help your audience get to a useful product or service. Think of them as automated referrals.

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I love affiliate links for real estate blogs because they are so flexible. Amazon is one of the easiest affiliate programs to join, and they have almost everything your audience could need or want.

Writing a post about setting up a home to sell? Include links to Amazon home goods that will help. Writing a home post for the first time? Include a link to a quality tool kit because you know they will need one!

And these links are win, win, win. Your audience gets easy access to a useful product, you earn a commission, and the seller makes a sale. Everyone wins!

We use ads on this site because we provide 99% of our content for free, and ads generate enough money for us to continue providing free content.

How To Make Money In Real Estate: A Beginner’s Guide

But be careful using ads on your real estate content. If the primary goal of your content is to drive new leads, let your audience focus on that, and don’t distract them with ads. But if you’re publishing a piece of content purely to be helpful (helpful tips for homeowners or information about local events, for example), an ad may be appropriate.

You can use Google Ads (the fastest and easiest way I’ve found to add ads to your site), and get paid every time someone clicks on your ads. Or you can sell ad space to local businesses for a flat fee.

You see this a lot on food blogs. In the recipe, the blogger will recommend a specific brand of BBQ sauce, orange juice, refrigerated dough, or whatever. They explain why that brand works better in the recipe than other brands, and tell you where to buy that brand. Most likely, that brand is paying for that post (although smart bloggers only accept sponsored content that they truly believe in because doing otherwise will come back to bite you!).

How To Make Money In Rental Properties

If you’re creating a video for homeowners on how to change light fixtures, maybe your favorite electrician would like to sponsor the post. They would pay for you to say something about how “So-and-So Electrical is just a phone call away if you have any problems.”

How To Make Money With A Rental Property

Prices for sponsored posts largely depend on how many viewers your posts typically get. If you’re fairly new, $20 is a good starting point. Once you have a large following, you can easily command hundreds for a sponsored post. And all for a post you were going to publish anyway, just to be helpful to your viewers and grow your online presence!

With the membership content model, your members pay a monthly, quarterly or annual subscription fee to receive access to a library of information. This model is really popular in the health and fitness sector where readers will pay a monthly fee for fresh food plans and workouts. It is perfectly suited to that industry.

DRIP by Key Real Estate Resources¬†is an example of membership content. With DRIP, you get access to new social media posts and newsletters, ready to share with your social media followers and customer base. It’s an easy and affordable way to stay on top of your mind

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