23 Best Real Estate Side Hustles To Make Extra Money
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23 Best Real Estate Side Hustles To Make Extra Money
Looking for ways to make some extra cash? The real estate world has many flexible side gigs for you. These can help you earn extra money when it suits you.
There are many real estate side hustles to choose from. You can rent out properties or offer consulting services. These options can make a big difference in your finances, whether you’re new or experienced in real estate.
Key Takeaways
- Discover lucrative real estate opportunities to boost your income.
- Explore various side gigs that offer flexible scheduling.
- Learn how to capitalize on your real estate skills.
- Understand the real estate side hustles for extra money.
- Find out how to get started with real estate side hustles.
The Growing Opportunity in Real Estate Side Gigs
Real estate side gigs are gaining popularity. People want flexible ways to make extra money. The real estate world offers many chances to earn more, whether it’s through part-time jobs or investing in property.
Why Real Estate Offers Flexible Income
Real estate is great for making extra money because of its variety. You can work part-time on different projects. This is perfect for those who want to earn more or have a job that fits their life.
Key benefits of real estate side gigs include:
- Flexibility in scheduling and workload
- Potential for high earnings through commissions or rental income
- Opportunity to diversify income streams
- Ability to scale the business according to personal goals and financial needs
What Makes a Good Real Estate Side Hustle
A good real estate side hustle balances earnings, time, and investment. Successful ones understand the market, have a clear niche, and can adjust to changes.
Some top real estate side hustles are:
- Property management services
- Real estate photography
- Virtual assistance for real estate agents
Low-Barrier Entry Real Estate Side Hustles
Real estate side hustles with low barriers to entry are flexible and easy to start. They let people use their skills and interests to make extra money. You don’t need a lot of money to begin.
1. Becoming a Notary Public for Real Estate Closings
Getting a notary public license is simple and can be very profitable. Notaries are key in making sure identities are verified and signatures are witnessed during property deals.
Getting Licensed
To become a notary, you need to meet certain state requirements. These include:
- Completing a notary education course
- Passing a background check
- Passing the notary exam
- Obtaining a surety bond
Typical Earnings
Notaries can make $25 to $100 per signing. This depends on the location and the deal’s complexity. More experienced notaries can make up to $2,000 a month. “The notary public plays a vital role in ensuring the authenticity of documents and preventing fraud in real estate transactions.”
2. Real Estate Photography
Real estate photography is another easy side hustle. It involves taking high-quality photos of properties for sale or rent. Agents and property owners need these photos to showcase properties online.
To start, you’ll need a good camera and editing software. Build a portfolio and market your services to local agents to find clients.
| Skill Level | Earning | Initial Investment |
|---|---|---|
| Basic | $100-$300 per session | $1,000-$2,000 (camera and software) |
| Advanced | $300-$600 per session | $2,000-$5,000 (high-end camera and equipment) |
3. Virtual Assistant for Real Estate Professionals
Being a virtual assistant for real estate pros is a flexible side hustle. It involves doing administrative tasks remotely. Tasks include email management, calendar organization, and social media management.
You need strong organizational skills, real estate software knowledge, and good communication. You can find work on freelance sites or through local real estate networks.
Virtual assistants can earn $15 to $25 an hour. This depends on your experience and the services you offer.
Property Management Side Hustles
Looking for flexible ways to earn money? Property management side hustles are a great option. They involve taking care of rental properties for landlords. This includes collecting rent, doing maintenance, and talking to tenants.
4. Property Manager for Landlords
Being a property manager for landlords can be very profitable. Property managers handle the daily tasks of rental properties. They make sure the properties are in good shape and have good tenants. They collect rent, arrange for maintenance, and solve any tenant problems. This helps landlords save time and stress, making it a valuable service.
5. Vacation Rental Management
Vacation rental management is another good side hustle. It involves managing short-term rentals on platforms like Airbnb or VRBO. Good management means creating great listings, taking care of cleaning and maintenance, and providing top-notch guest service. By improving listings and ensuring great guest experiences, managers can increase rental income and keep properties full.
6. Airbnb Co-hosting Services
Airbnb co-hosting is a popular side hustle, perfect for those who know Airbnb well. Co-hosts help property owners manage their listings. They handle guest communication and property upkeep.
What Co-hosts Do
Co-hosts do many things, like:
- Answering guest questions and booking requests
- Arranging for cleaning and maintenance
- Improving listings to get more views
- Making sure everything follows Airbnb rules
Earning Potential
Co-hosts can earn a lot, based on how many listings they manage and the services they offer. They usually get a share of the rental income, making it a job based on performance. By giving great guest experiences and keeping properties busy, co-hosts can make more money.
Online Real Estate Side Hustles
The internet has made it easier than ever to start a side hustle in real estate. Now, professionals can reach more people and earn extra money online. Let’s look at three online real estate side hustles that can be very profitable.
Real Estate Blogging and Content Creation
Starting a blog or creating content about real estate can be a great way to earn extra money. You can share tips on home staging, market insights, or investment strategies. Monetization options include:
- Affiliate marketing
- Sponsored content
- Digital products or courses
To do well, make sure your content is high-quality and engaging. It should meet the needs of your audience.
Real Estate YouTube Channel
Video content is very popular, and YouTube is a huge platform for real estate professionals. You can share property tours, market updates, or educational content. Revenue streams include:
- YouTube AdSense
- Sponsorships and product placements
- Affiliate marketing
To grow your channel, be consistent and focus on high-quality video production.
Social Media Management for Real Estate Businesses
Many real estate businesses find it hard to keep up with social media. By managing their social media, you can help them reach their audience and increase engagement. Services may include:
- Content creation
- Account management
- Advertising campaigns
To succeed, keep up with the latest social media trends and algorithms.
Real Estate Administrative Services
Real estate deals need a lot of work behind the scenes. This work is key to keeping real estate businesses running smoothly.
Transaction Coordinator
A transaction coordinator is very important in real estate. They take care of all the paperwork and deadlines. This lets real estate agents do what they do best.
Key Responsibilities:
- Managing transaction files and ensuring compliance with regulations
- Coordinating with clients, agents, and other stakeholders
- Preparing and reviewing documents for transactions
Real Estate Referral Agent
A real estate referral agent helps people find agents. They get a fee for this service. It’s good for those who know people but can’t be agents themselves.
How Referral Networks Work
Referral networks match people with agents. The agent gets a fee, usually a part of the agent’s commission.
Commission Structures
How much a referral agent gets varies. It’s usually a share of the commission. The exact amount depends on the deal between the referral agent and the agent or brokerage.
| Role | Description | Commission Structure |
|---|---|---|
| Transaction Coordinator | Manages administrative tasks in real estate transactions | Typically hourly or flat fee |
| Real Estate Referral Agent | Connects clients with real estate agents for a referral fee | Percentage of transaction commission |
Home Presentation and Staging Services
The way a home looks can really affect how quickly it sells and its price. Good home staging makes a house more appealing to buyers. This can lead to quicker sales and possibly higher offers.
Home Staging Consultant
A home staging consultant helps homeowners and real estate agents get a property ready for sale. They declutter, rearrange furniture, and add decorations to make the home more inviting. A well-staged home can sell for up to 17% more than a comparable unstaged home, says the National Association of Realtors.
To be a home staging consultant, you usually need a background in interior design or a similar field. You also need certification from a trusted group like the International Association of Home Staging Professionals.
Open House Assistant
An open house assistant helps real estate agents during open houses. They make sure the event goes well and that visitors have a good time. Their tasks include welcoming guests, handing out marketing materials, and sharing details about the property.
To be an open house assistant, you need to be good at talking and able to work on your own. It’s a good way to learn about the real estate world and meet agents and clients.
| Service | Description | Benefits |
|---|---|---|
| Home Staging | Preparing a home for sale by decluttering and decorating | Faster sales, higher offers |
| Open House Assistance | Assisting real estate agents during open houses | Gaining industry experience, building connections |
23 Best Real Estate Side Hustles To Make Extra Money: Investment Options
Looking to make more money? Real estate side hustles have many investment options. They can bring big returns and use your skills in different ways.
14. House Hacking
House hacking means buying a property, living there, and renting out the rest. It can cut down on mortgage and other costs. But, you’ll need to manage tenants and upkeep.
Benefits of House Hacking:
- Lower living costs from rental income
- Chance for property value to grow
- Tax perks from mortgage and property tax deductions
15. Real Estate Crowdfunding Investments
Real estate crowdfunding lets you invest in properties or projects with less money. It opens up real estate to more people.
Key advantages include:
- More variety in your investments
- Smaller amounts needed to start
- Experts handle the property management
16. REITs (Real Estate Investment Trusts)
REITs let you invest in real estate without managing it. You can earn rental income without the hassle.
REIT Benefits:
- Easy to buy and sell shares
- Spread your money across different properties and places
- Regular income from dividends
In summary, these real estate options can help you earn extra. By knowing the pros and cons of house hacking, crowdfunding, and REITs, you can choose wisely.
Property Flipping and Renovation Hustles
Real estate fans can make good money by flipping properties and renovating homes. These activities involve buying, fixing up, and selling properties for a profit. It’s a hands-on way to invest in real estate.
17. House Flipping for Profit
House flipping means buying a property cheap, fixing it up, and selling it for more. Success depends on finding the right homes and keeping renovation costs down.
Finding Properties
To find good properties, look for homes in up-and-coming areas or those needing big repairs. Use online listings, work with real estate agents, and network with other investors to find deals.
Financing Options
Getting money for house flipping is key. You can use your own cash, get loans from banks or private lenders, or partner with others. Hard money loans are fast but have high interest rates.
18. Renovation Consulting
Renovation consulting helps homeowners or investors with property makeovers. This includes picking materials, hiring contractors, and overseeing the project. Renovation consultants get paid for their advice, helping others improve their properties.
- Assessing the property’s condition
- Creating a renovation plan
- Managing the renovation budget
19. Bird Dogging (Finding Property Deals)
Bird dogging means finding deals for investors and getting paid for each one. Bird doggers look for distressed properties, foreclosures, or undervalued homes. Networking with real estate investors is key to finding the right deals.
- Researching neighborhoods for deals
- Inspecting properties for signs of distress
- Contacting investors with leads
By focusing on house flipping, renovation consulting, and bird dogging, real estate fans can find profitable opportunities. Each hustle needs hard work and a willingness to learn. But, they can lead to big rewards for those who are dedicated.
Real Estate Agent Side Opportunities
Looking into real estate side gigs can open up profitable paths like part-time agent work or wholesaling. These options let people use their real estate know-how and skills without a full-time job.
Part-Time Real Estate Agent
Being a part-time real estate agent is great for making extra cash. You help clients buy or sell properties, usually in the evenings or on weekends. To start, you need a real estate license, which means finishing a set number of training hours and passing a test.
The money you can make as a part-time agent depends on where you work, your experience, and how many clients you help. The National Association of Realtors says real estate agents make about $50,000 a year on average. But, part-time agents can make a good chunk of extra money, up to $20,000 to $30,000 annually, based on how well they sell.
Wholesaling Real Estate
Wholesaling real estate means finding properties that are priced too low and selling them to investors for more. You don’t need much money to start, as you act as a middleman. To do well, you need a good network of contacts, like property owners, investors, and other real estate pros.
Wholesalers can make a lot of money from each deal. For example, if you find a property for $80,000 and sell it to an investor for $100,000, you make a $20,000 profit. But, wholesaling has its own hurdles, like finding reliable buyers and handling the sales process well.
| Opportunity | Initial Investment | Potential Earnings |
|---|---|---|
| Part-Time Real Estate Agent | Licensing Fees, Training | $20,000 – $30,000 per year |
| Wholesaling Real Estate | Marketing, Networking | $10,000 – $20,000 per deal |
“The key to success in real estate wholesaling is building a strong network and being able to find undervalued properties.” –
Real Estate Education and Consulting
Real estate education and consulting are now big side hustles. They let people make money from their knowledge. The real estate world is getting more complex, so more people need help understanding it.
Real Estate Coach or Consultant
Being a real estate coach or consultant means using your experience to help others. You give one-on-one advice, share your insights, and help clients reach their goals. Good coaching and consulting need a deep market understanding and clear communication.
Real Estate Course Creator
Creating real estate courses is another way to earn money. You can teach others by making detailed courses. Creating great courses means finding out what people need and making content that’s both interesting and useful.
| Opportunity | Description | Potential Income |
|---|---|---|
| Real Estate Coaching | Personalized guidance for clients | $500-$2,000 per client |
| Real Estate Consulting | Expert advice for businesses | $1,000-$5,000 per project |
| Course Creation | Developing online courses | $1,000-$10,000 per course |
Both coaching and creating courses are flexible and can be very profitable. By focusing on a specific area, you can stand out and attract clients who need your expertise.
How to Choose the Right Real Estate Side Hustle for Your Situation
Finding the right real estate side hustle is all about matching it with your skills, resources, and goals. With many options out there, it’s important to think carefully about your situation. This will help you make a choice that works for you.
Assessing Time Commitment
First, figure out how much time you can give to a side hustle. Some jobs, like being a notary public or a real estate photographer, need less time. Others, like property management or wholesaling, require more. Evaluate your schedule to find the best fit for your life.
Evaluating Startup Costs
Think about how much money you need to start your side hustle. Some, like blogging or social media work, cost little to nothing. Others, like flipping houses or investing in property, need a lot of money. Carefully consider your financial situation to pick something that fits your budget.
Matching Side Hustles to Your Skills
Your skills and experience are key in choosing a side hustle. If you know marketing, you might do well in social media or content creation. If you’re good at construction, think about renovation consulting or house flipping. Leverage your strengths to increase your success.
Scaling Your Real Estate Side Hustle into a Full-Time Business
As your real estate side hustle grows, the idea of making it a full-time job becomes more tempting. This move needs careful thought and a solid plan to keep growing and making money.
When to Consider Going Full-Time
Choosing the right time to switch from a side hustle to a full-time business is tough. A good sign is when your side hustle makes enough money to cover your living costs. It’s also important to have enough savings to last 3-6 months. “The Million-Dollar, One-Person Business” by Elaine Pofeldt shows that many entrepreneurs succeed by being ready for the financial changes.
Another important factor is if you can grow your business. If demand is too high or your side hustle is taking too much time, it’s time to go full-time.
Building Systems for Growth
To grow your real estate side hustle, you need systems that help it expand. This means:
- Creating efficient ways to do things
- Using technology to make tasks easier
- Building a strong team or outsourcing tasks
- Always checking and adjusting your business plan
A good business plan is key for guiding your growth and keeping you on track. Keep an eye on your finances, marketing, and customer happiness to make smart choices.
| Growth Strategy | Description | Benefits |
|---|---|---|
| Operational Efficiency | Streamlining processes to reduce waste and improve productivity | Increased profitability, reduced stress |
| Technology Investment | Using software and tools to automate tasks and improve customer experience | Improved customer satisfaction, increased efficiency |
| Team Development | Hiring or outsourcing to fill skill gaps and support business growth | Enhanced capabilities, better work-life balance |
By focusing on these areas and staying flexible, you can turn your real estate side hustle into a successful full-time business.
FAQ
What are the benefits of starting a real estate side hustle?
Starting a real estate side hustle can be a flexible way to earn extra money. It also helps diversify your income and might even turn into a full-time job.
How do I get started with real estate photography as a side hustle?
To start in real estate photography, you need a good camera and knowledge of lighting and composition. You might also need basic editing software. Begin by helping out friends, family, or local real estate agents.
What is involved in being a notary public for real estate closings?
As a notary public, you verify identities, witness signatures, and notarize documents. You must get licensed and may need to keep up with continuing education.
Can I start a real estate side hustle with little to no experience?
Yes, many real estate side hustles don’t require much experience. But some might need specific training, certifications, or licenses, like becoming a notary public or real estate agent.
How do I choose the right real estate side hustle for my skills and interests?
Think about your skills, interests, and how much time you have. Identify your strengths and weaknesses, research options, and start with something low-commitment to see if it’s right for you.
What are some common real estate side hustles that can be done online?
Online real estate side hustles include blogging, YouTube, and managing social media for real estate businesses. These jobs can be done from anywhere and often require specific skills or software.
How can I scale my real estate side hustle into a full-time business?
To grow your side hustle, create systems for growth, consider hiring help, and know when to go full-time. This might mean making a business plan, getting funding, and adapting to market changes.
What are some investment options for real estate side hustles?
Investment options include house hacking, real estate crowdfunding, and REITs (Real Estate Investment Trusts). These can help you earn passive income or diversify your investments.
How do I get started with property management as a side hustle?
To start in property management, learn about responsibilities like rent collection and tenant screening. Begin by managing properties for friends, family, or local landlords. You can also expand to vacation rentals or Airbnb co-hosting.
Conclusion
Exploring real estate side hustles can be a great way to make extra money. There are many options, like property management and real estate investing. These paths can help you grow your finances.
Understanding the different side hustles in real estate is key. You can find something that fits your skills and interests. Options include renting out a spare room on Airbnb or investing in REITs. There’s something for everyone.
As the real estate market changes, it’s important to stay up to date. This summary is a good starting point for those looking to make money in real estate. It highlights the growing demand for services.
To succeed in real estate side hustles, be proactive and stay organized. Keep learning about the best practices in your field. This way, you can make your side hustle a successful and lasting venture.
