Are you considering generating additional income streams in real estate or making it a new career? More and more people are rightly looking into real estate to help them create an income, generate savings and build their investment portfolios.
However, it pays to know exactly what you are getting into when it comes to the housing and commercial real estate market. While it all seems glamorous on shows like Selling Sunset or fun as you see when you watch the house flipping tv shows, below the surface can lie some pitfalls that will turn your experience from fun to disaster in the blink of an eye.
It is important to note that before you lend any money or invest in real estate, you know exactly what you are getting into and the implications should things not go how you expect them to. With this in mind, this post looks at some viable ways to make money in real estate.

Flipping
House flipping has become extremely popular in recent years, and this trend shows no sign of slowing down anytime soon. Flipping houses is the practice of buying run-down properties and turning them into turnkey homes ready for people to move into as fully refurbished.
There is a lot of money to be made when done correctly; however, you need to know your properties and your local area and have finding ready go to pounce on properties as soon as they become available for flipping. From working with a hard money lending company to using personal loans or self-funding, you need to quickly snap up potential property to make a good profit once you resell it.
Letting
Becoming a landlord can help you to fund your lifestyle and put money away for retirement or a rainy day. Not only will you be generating an income on the monthly rent, but you will have the property’s value should you sell it in the future.
While this might not be a get-rich-quick scheme, if you are able to provide safe, secure, and habitable homes for others to reside in and can meet all the obligations set out by your state and the federal government for being a responsible landlord, then this can be an excellent investment for the long term and provide with a nest egg for the future.
Vacation Rentals
Thanks to Airbnb and VRBO, letting out your primary or holiday home has never been easier. Suppose you live in an area that attracts vacationers or visitors to attractions or local festivals, for example. In that case, you can list your home for rent on a short-term basis and help you generate additional income.
Again, like with anything, there are rules and guidelines, and you need to be realistic about what your home can offer of-towners, what level of behavior you expect from guests, and how popular it will be; for example, it might be you can only let your home on a seasonal basis or for high profile events as opposed to all year round.
On top of this, you need to be able to store personal belongings outside the home you don’t want others to have access to and be able to live off-site for the duration of the booking. If you can manage this, it can be a great income earner for the short and long term to help you cover bills and start saving money.
Conclusion
There are numerous ways you can make a living via real estate. While some are more affordable and accessible than others, real estate is still a solid investment for those looking to invest their money or generate an additional income stream.