You’ve been working your day job, going home to spend time with the family, and now it’s finally time for a break. You’re not really ready to go back to work yet but you need some extra income. What can you do? Real estate side hustles are an excellent way to bring in some cash on the side while still having plenty of time off from work. In this article, we will discuss real estate side hustles and provide a comprehensive guide that will help you find one that is right for you!
What is a real estate side hustle?
Real estate side hustles are real estate-related work that you can complete in your free time. They may be short term, long term, or even turn into a business venture if you excel at them. The possibilities are endless when it comes to real estate side hustles and we will discuss some of the most popular ones below.
How to make money quick as a new real estate agent
New agents are often looking for ways to make money quickly so that they can build up their client base and eventually become independent realtors. As a new agent, you’re probably not making enough to foot your bills, leave alone meet your desires. Having a side hustle is the perfect way to supplement your income as you work on building your real estate portfolio.
If you’re looking for real estate side hustles that require low to no cost upfront investment, we’ve got you covered. We’re going to look at some of the best side hustles that require more time and less money to get started.
Real estate photography side hustle
Becoming a photographer is one way to earn a side income in real estate. If you have a good camera and can capture quality photos, you need to give this a try.
Real estate photography side hustles are not only limited to real estate agents. Any realtor can hire a photographer to take high quality property photos so that they don’t need to spend hours outside in the hot sun or freezing cold capturing images of homes for sale. You’ll be paid per photo and it’s possible to earn $20 – $50 per photo if you have a quality camera and take good real estate photos.
If your realtor doesn’t have the budget for professional real estate photography, ask them if they would be willing to hire you as an independent contractor or pay you on a per-photo basis. You’ll need to market yourself well but realtors may hire you as an independent realtor.
How to make money real estate blogging
Blogging is another way to make extra income in real estate. It can also lead down the path towards becoming a full-time blogger if you enjoy writing about real estate topics. Blogging has become extremely popular over recent years and there are plenty of ways real estate agents and realtors can make extra income blogging.
Real estate blogs are a great way to build your brand, gain exposure for yourself or your realtor’s business, and get real-world experience in the real estate industry. You’ll also be able to show off your expertise by writing about local real estate topics such as neighborhood reviews and real estate industry trends.
Some realtors have turned real estate blogging into a full-time career and it’s not uncommon for them to earn six figure salaries per year. If you’re looking for real estate side hustles that require low investment, blogging is another great option as long as you enjoy writing about real estate topics. You can use real estate blogging as a way to start your own real estate website and the possibilities are endless.
Mortgage broker side hustle
Mortgage broker side hustles are extremely popular among realtors and real estate agents looking to earn some extra income. If you’re a realtor, it’s possible that one of your clients will want to buy more property than they can afford on their own or if they’ve already maxed out their credit cards.
This is where real estate agents can step in and match buyers up with a mortgage broker who will help them take out a loan for the real estate they want to buy. It’s a win-win situation as the realtor gets paid on both ends of this type of transaction.
Become a virtual assistant
A virtual assistant is an individual that helps others with tasks they don’t have time to do. VA services are gaining popularity among realtors and real estate agents. As a virtual assistant, you’ll be able to work from home and earn money by helping realtors with their administrative tasks such as:
- Sending out text messages or emails for open house events
- Creating flyers and real estate signs
- Organizing realtor documents and files on computers, the cloud or USB flash drives.
You can also offer realtors with website assistance such as:
- Adding photos to realtor listings online
- Uploading new real estate listings onto their page
The tasks you’ll be assigned will vary but realtors are willing to pay real estate assistants between $15 – $30 per hour.
This is one of the best real estate side hustles because it requires very little experience, you can start working right away, and there’s no limit on how much money realtors will be willing to spend on VA services. The only thing stopping realtors from using your VA services is the budget they have available.
Wholesale real estate side hustle
A real estate wholesaler acts as an intermediator, contracting a property with a seller and then finding someone who is interested in purchasing it. The wholesaler contracts the home with a buyer for a higher price than the seller and keeps the difference. Real estate wholesalers frequently discover and contract distressed houses.
A real estate wholesaler can make money in real estate by finding attractive homes to contract and sell quickly.
Realtors who are experienced with real estate investing may be able to work as a realtor for someone else while simultaneously acting as their own realtor (a dual agent) on other properties they’ve found or contracted themselves. This is an excellent real estate side hustle that allows realtors to use their realtor license and real estate expertise for both sides of a transaction.
Property managers are realtors who manage real estate properties for landlords. Property management is a great real estate side hustle because it doesn’t require much expertise or experience. You can start working right away as long as you have the required license to do so in your city, state, or province. You’ll be able to find real estate management jobs in your local newspaper or online.
As a real estate manager, you’ll be responsible for finding tenants to live in the property and collecting rent from them each month. You can also assist landlords with tasks such as maintenance requests, lease negotiations, evictions when necessary and routine inspections of properties. Property managers typically earn between $30 – $50 per hour.
House flipping involves purchasing distressed properties at a low price and then resell them for much more. House flippers are realtors/investors that have the ability to quickly assess which houses offer good investment opportunities in their area. They can often turn around a property within weeks or months before selling it on for an even higher price. House flippers who can do this quickly and profitably are real estate rock stars because they’re able to make significant income in the real estate market without having to pay any realtor fees or commissions.
Buying properties at foreclosure auctions is one of the best real estate side hustles for someone looking to earn extra money because it does not require realtor expertise.
Real Estate Side Hustle FAQs
Here are some of the frequently asked questions when it comes to real estate side hustles.
Can real estate investing be a side hustle?
Yes, real estate can be a side hustle or a full-time job. Real estate investing is an excellent way to earn money and build wealth, especially for those who don’t have tons of cash on hand but do have strong equity in their home. It’s also possible to invest with as little as $100 by purchasing real estate paper-based assets such as real estate notes.
How much money do realtors make?
Realtors can earn a median salary of $51,220 according to the U.S Bureau of Labor Statistics (BLS). However, real estate commissions and bonuses usually add an extra 20% – 35% on top of this base rate so it’s possible for realtors to earn anywhere from $55,000 – 100,000+ per year.
What real estate side hustles require the least amount of money?
Real estate investing doesn’t necessarily require a lot of upfront capital. Real estate virtual assistant, property management are some of the side hustles that require the least amount to start.
What is a side hustle in the real estate market?
A side hustle is an additional way to make money on top of your main source of income. A common real estate side hustle includes becoming a property manager for different houses while also being responsible for finding tenants.
Is real estate photography a good side hustle?
Yes, real estate photography is a great side hustle because it doesn’t require any special realtor expertise. You can start taking photos of homes for sale immediately and there are many ways to market your business online.
How can I get into real estate with no money?
With real estate, you don’t need to have a lot of money to get started. You can find real estate investment opportunities that require little cash upfront and still offer high returns once the property is sold.
Developing real estate apps for mobile devices
Real Estate Apps are becoming very popular as people want everything fast and now. If you have app development skills , real estate apps would be a great real estate side hustle to get into.
Is real estate agent a good side hustle?
Real estate is an industry that has been around for centuries, with real estate agents making a lot of money through commissions. The real estate market can be competitive and difficult to break into, but it doesn’t have to be! With the side hustle economy on the rise, there are many ways you can make real estate your career while also working another job. We’ll go over some of the most popular real estate side hustles so you know what’s out there and how to get started today.
Is being a real estate investor a good side hustle?
One real estate side hustle that has been around for ages is real estate investing. If you have the time, real estate can be a lucrative way to make money from home or while traveling. However, it does require quite a bit of capital and knowledge about how real estate works. We’ll go over real estate investing and some of the other types of real estate side hustles that you can use to earn money.
Is becoming a real estate appraiser a good side hustle?
Real estate appraisers are professionals who have been certified by their state to give an opinion on a home’s value. They may also be called real estate assessors, real estate inspectors, or real property appraisers. Becoming a real estate appraiser is not as easy as becoming a realtor and can take years of education and experience before you earn enough to make it worth your time.
Can real estate be a side hustle?
Side hustles are becoming popular in real estate to make extra money on top of your realtor’s salary. There are many ways to start a side business, depending on how much you want to put into it and what skills you have for the job. The real estate market is always changing so there will never be a shortage of opportunities or challenges that come with this industry – but if you’re willing to work hard and learn, real estate can provide an excellent living while also providing some flexibility when it comes time for vacations or other personal time off.