Need more money to buy your first (or next) rental property? The right real estate side hustle could help you learn the industry AND pocket some extra change to put toward your next investment. In this episode, we reveal a low-cost real estate business that nets $4,000 a month. Don’t believe us? Tony’s done it himself, and he’ll show you how to get started!
Welcome to another Rookie Reply! Today, we’re answering questions from the BiggerPockets Forums and Real Estate Rookie Facebook group, and to kick things off, we’ll hear from an investor who’s tired of house hacking. What’s the best way to transition to another investing strategy without sacrificing the killer cash flow that renting by the room provides? We’ll share our favorite pivots!
Next, we’ll discuss buying mortgage points, a strategy that could help you save money and create more monthly cash flow—IF you plan to keep the property for the long haul. And finally, launching a side hustle is a great way to break into real estate, learn the industry, and make more money to buy rentals. We’ll share an overlooked Airbnb business that has very low startup costs yet could net you $4,000 per month!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover
How to make an extra $4,000 a month with an “overlooked” side hustle
The pros and cons of the house hacking and rent-by-the-room strategies
Telltale signs it’s time to pivot to a different investing strategy
Mortgage points explained (and whether they’re worth the cost)
Crucial systems and processes for managing short-term rentals
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-559
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