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1. Basic Rental Property: Making money on rental properties seems easy and straight-forward enough – find a great house, get tenants, make money and invest in your future. And, investing in rental properties can be that simple – if you get the right tenants and are patient. There’s a reason why more people play the rental game: long-term benefits. A rental property is a patient investment; most landlords will charge enough to cover the mortgage, all maintenance issues, taxes and insurance costs. Making a little extra monthly income on a rental is great, if you can do it, but the real pay-off comes at the end when the house is paid off and that money can go directly into your pocket.
2. Real Estate Investment Groups: This is the path taken when managing a rental property is not foreseeable. This route frees you up to buy unit(s) and reap the benefits of extra monthly income without having to deal with finding tenants and maintenance up-keep of the property.
3. Flipping Houses: Now, this one can get you into a lot of trouble, but be a lot of fun. Flipping houses, as anyone who’s watched HGTV will know, involves buying a home that would benefit from renovations and provide a return on investment. This investment can be tricky for some holding little to no knowledge in renovations, or if you cannot sell your home in time, costing you money in the end.
4. REITs (Real Estate Investment Trust): REITs are bought and sold just like items in the stock market. REITs are sold through properties and mortgage that companies own. REITs are popular due to the fact that they have little to no taxes, making it perfect for companies to provide for any investor looking to buy and spruce up their portfolio.
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