When you’re looking for side gigs, you probably want something that pays well so you can work less. While no side gig is truly effortless, real estate investing will give you a high rate of return for your time.
If you’re considering getting involved in real estate, here are several reasons to jump in headfirst.
- Getting your real estate license is easy
Did you ever think it would be easy to get your real estate license? Well, it is easier than you think. Naturally, you’ll need to study hard for the exam and pass with a high score, but the process to get licensed is easy.
For instance, in Florida, you can study for your real estate license online for less than $100 from Real Estate U. That’s extremely cheap and with a self-paced course online, you don’t have to worry about classes cutting into your life.
You’ll want your real estate license if you plan on buying multiple investment properties. With a license, you can act as your own agent, which means you won’t be paying a buyer’s agent.
Also, you’ll have direct access to the Multiple Listing Service (MLS), which means you’ll get access to investment opportunities before the general public.
- You can earn thousands of dollars with one deal
Aside from owning rental properties, most real estate agents make their money through commissions. Depending on the final price of the home sale, an agent’s commission could be a couple thousand to ten thousand dollars.
Although it takes time and effort to close a deal, in the end, it’s less work than having to shuffle around goods in a retail store, earning minimum wage. If you’re looking for a side gig to earn some extra cash, you may as well pick one that gives a good return.
- You can work part-time
Some real estate investors work full-time, but there are plenty of part-time investors and agents. This is a job where you can truly set your own schedule and rules for how much or how little you want to work.
If you only have time to work on your real estate gig part-time, that’s okay. You’ll still have the opportunity to make more money than you would by working a boring retail job.
- There are multiple ways to get involved
You don’t need to buy and rent out properties to get involved in real estate as a side gig. For instance, you could get involved in real estate crowdfunding investment opportunities, or you could get into fixing and flipping.
The real estate opportunities you feel most drawn to might be different from what most others are interested in pursuing. However, don’t let that stop you from getting started. If you’re going to take on a side gig, you’ll be more successful when it’s something you enjoy.
- You don’t need an office
One of the best reasons to choose real estate for your side gig is that you don’t need an office. You can run your business out of your home and use the same office you have now. All you need is a desk, computer, and internet access. You can even work from your phone on the go.
This makes it more affordable to run your business because you won’t have to rent a physical office, which can cost thousands of dollars each month.
- Your work will never become unnecessary
As long as people can buy and sell properties, real estate professionals will always be in demand. Of course, you’re never guaranteed clients, and you’ll still need to work to get them. However, the market will always be there, so your credentials, hard work, experience, and expertise won’t become obsolete in a few years, or even a decade.
If you like working with people, real estate is a great gig
Your main goal is probably earning a solid income from your real estate side gig, but it’s also a great way to keep yourself social and out in the world. Real estate has a lot of technicality to it, but it’s also a social gig.
You’re going to be talking to a lot of different people, so if you enjoy being social, working in real estate might be the perfect side gig.