How To Make Money by Investing in Real Estate

How do you become a millionaire in real estate? Before we answer that, you need to know about a few key tools on our website. The first tool allows you to search the MLS like a Realtor, while the second provides a list of secret coming-soon properties that aren't available online. Also, if you're interested in knowing the value of your home, you can use our home valuation tool. It provides a range, but for a precise estimate of your net proceeds, you'll need to schedule a walkthrough with us. 

Going back to becoming a millionaire in real estate, here are three strategies you can use to make lucrative real estate investments:

• Buy and hold. Despite the higher interest rates, it's truly a good time to buy because prices are down and there is more supply. You can find a home in a great location, make a higher down payment due to the interest rates, and then refinance when rates come back down. As rates decrease, prices will go up, so buying now is beneficial. Buying and holding allows you to benefit from appreciation and tenants paying down your debt.
• Flipping properties. Distressed properties can be found at courthouses, through MLS searches, or by contacting Realtors for foreclosures and short sales. You can also look for distressed or abandoned homes in your neighborhood and approach the owners to see if they're interested in selling.
• Short-term vacation rentals like Airbnb or VRBO. Buying a property in an area suitable for short-term rentals can generate significant income, as the daily rental rate is often higher than long-term rentals. Depending on your level of involvement, you can be a passive investor with a property manager or be an active manager.

Real estate has made more millionaires than any other investment. If you want to learn more about investing and finding properties to invest in, feel free to reach out to us. You can call or email us anytime and we’d be happy to help you.