10 Best Real Estate Side Hustles To Make Money Part-TimeAug 31, 2023
In today's ever-evolving world, many are contemplating ways to diversify their income streams, especially amidst recent global shifts. The allure of escaping the conventional 9-5 day job, combined with the desire to harness untapped opportunities and pad the wallet, has made side hustles increasingly popular.
With a staggering number of Americans venturing into side gigs in the last few years, real estate stands out as a promising avenue. Whether you're a seasoned realtor seeking additional revenue or someone eager to dip their toes into the property world, real estate side hustles offer lucrative opportunities.
Join us as we unveil the top 10 real estate side jobs that can elevate your financial game part-time:
- What Is A Real Estate Side Hustle?
- Top 10 Part-Time Real Estate Side Hustles
- 7 Benefits Of Real Estate As A Side Hustle
- How To Make Real Estate A Side Hustle
- Final Thoughts
What Is A Real Estate Side Hustle?
Ever wondered how people manage to generate additional income while juggling their primary jobs? Enter the world of real estate side hustles - money-making strategies rooted in the property sector that supplement one's primary income. It's about capitalizing on the vast expanse of opportunities in the real estate domain without being bound to it full-time.
The beauty of these side gigs in real estate lies in their accessibility. From educators using property rentals to offset expenses to students navigating property showings amidst lectures, or tech-savvy individuals leveraging the power of REITs for added dividends, the scope is broad and the barriers minimal.
All you need is determination, a dash of ingenuity, and of course, the digital world at your fingertips to become a real estate investor!
With the modern digital shift, the property sector is brimming with chances to carve out your niche. From tech platforms to virtual tours, the real estate space has never been more accessible.
Ready to elevate your real estate game today? Dive deep into the world of wholesaling and house flipping with our FREE real estate training course! Unlock insider secrets and start your journey toward real estate mastery!
Top 10 Part-Time Real Estate Side Hustles
The real estate industry jobs don't always mean a full-time commitment. Many have carved out impressive part-time niches, leveraging unique real estate avenues to bolster their income.
Whether you have a couple of hours each week or dedicated weekends, the world of real estate offers a plethora of side hustles tailored to your schedule and interests.
From the classic routes of real estate agencies to innovative property flipping and notary services, there's a fit for every aspiring hustler. Curious to discover these lucrative ventures?
Read on to unveil the top 10 real estate side hustles you can embark on:
Real Estate Wholesaling
Bird Dogging Real Estate
Becoming A Real Estate Agent
Real Estate Blogging
Real Estate Photography
Becoming A Certified Notary
Real Estate Wholesaling
Venturing into real estate doesn't always demand a colossal initial investment or a wealth of experience. Wholesaling houses serves as a bridge connecting sellers with buyers. The strategy involves securing properties at a favorable rate and then flipping the contract to an investor, ensuring a tidy profit.
Let’s go over a quick example.
Imagine stumbling upon a property valued at $100,000 and managing to lock it down for $75,000. You then assign that contract to an eager investor for $80,000. Just like that, you've bagged $5,000, and the investor gets a neat $20,000 discount. It's a scenario where everyone benefits.
This real estate side hustle requires a sharp eye for potential deals and a robust network of interested investors. The only financial commitment is typically the earnest money deposit, often a minimal sum. Wholesaling offers a flexible and potentially lucrative avenue for those keen on exploring the real estate industry without going all in.
Bird Dogging Real Estate
Bird dogging in real estate is less about the hunt and more about the strategic find. At its core, it's about linking promising properties with keen investors, offering both parties a valuable opportunity. Picture yourself as a real estate scout, constantly on the lookout for hidden gems—whether they are foreclosures, unlisted houses, or homes ripe for renovation.
The beauty of this method is in its flexibility; whether you're someone constantly on the move, like a delivery driver, or just an individual with a knack for spotting potential, bird-dogging could be your niche.
The compensation structure varies. Some bird dogs earn their reward with each lead they provide, while others might get a slice of the pie when the deal is sealed.
Successful bird-dogging side jobs start with networking with local real estate enthusiasts—through social media platforms or by attending local investor meetups. Once you've got a promising property or two in your sights, present your findings to these investors.
Always ensure you have a formal agreement ready, emphasizing the compensation for your keen-eyed services. Remember, bird-dogging is as much about building relationships as it is about property scouting. As your network grows, so does your potential for profit.
House flipping is much more than the thrill of transforming a property; it's a calculated endeavor with potential for significant returns. It's the art of spotting undervalued homes, infusing them with new life, and positioning them back on the market for a profit.
Though the upfront costs are steeper than other side hustles, the potential payouts can be monumental, making it a tantalizing venture for those with the aptitude and resources. While you continue your primary job, you can curate a team of general contractors and constantly be on the lookout for worthy properties, especially through auctions or distressed sales.
Working collaboratively—with contractors, designers, or even financial partners—can amplify your chances of a successful flip. Collaborative efforts also mean you can share the financial burden and the rewards. For instance, if your capital is limited, partnering with financial backers who bear the upfront costs in exchange for a share in the profits can be a game-changer.
On the financial spectrum, house flippers can earn diverse amounts, from modest sums to whopping six-figure payouts, depending on the property, market conditions, and the scale of transformation. And with strategic planning, this side hustle can run parallel to your full-time job, becoming a potent supplement to your primary income.
The allure of house flipping goes beyond finances. It's the satisfaction of breathing new life into an old structure, witnessing a transformation, and realizing a vision—all while making a profit!
Real Estate Agent As A Side Hustle
Becoming a real estate agent as a side hustle is about merging your passion for properties with the thrill of fostering meaningful connections. At its core, this role revolves around linking prospective buyers with sellers, and in return, securing a commission for the liaison. The journey begins with obtaining a real estate license specific to your state, which is the golden ticket to boundless opportunities.
The brilliance of this side gig in real estate is its reciprocity: the energy and commitment you pour into it directly determine your rewards. It involves a blend of meticulous research, networking, and proactive outreach. An agent's day might oscillate between diving deep into platforms like MLS, and Zillow, and forging relationships within the vast real estate community.
Your paycheck, as an agent, is a reflection of the value you bring to the table. To put it in perspective, aiding in the sale of a $500,000 property can potentially reward you with a handsome $30,000, thanks to the commission brackets ranging from 2% to 6%.
Most agents initiate their careers under the wings of esteemed real estate conglomerates like Compass or ReMax. These entities often furnish agents with invaluable assets—be it leads, referrals, or administrative support. If you're at the cusp of embarking on this journey, reaching out to such companies can be a wise first step.
The real estate agent path might demand your time, but with every closed deal and satisfied client, it promises not just monetary gratification but also the joy of shaping dreams into reality. If you've got the zeal and a few hours to spare each week, this side hustle could be your gateway to a lucrative rendezvous with the real estate world.
Property management is an enticing side hustle that bridges homeowners with reliable tenants, ensuring that the symphony plays harmoniously month after month.
At its heart, property management revolves around overseeing the myriad facets of real estate rentals. It's not merely about ensuring that the walls are intact and the plumbing functions seamlessly. It's also about establishing robust relationships, curating a seamless tenant experience, and guaranteeing timely rent collections. The tasks range from the pivotal, like tenant selection, to the everyday, such as addressing maintenance requests.
With a strategic mindset, you can systematize most of the operations. Imagine a scenario where you've onboarded trustworthy tenants, nurtured a rapport with property owners, and collaborated with an efficient superintendent to oversee on-ground maintenance. This could set you on a trajectory where your involvement becomes minimal, yet your rewards remain consistent—typically between 8% to 10% of the monthly rent.
An edge in property management is carved not just by the number of properties you handle, but by the network of satisfied tenants and clients you foster. The crème de la crème in this niche can effortlessly manage a portfolio of 10+ properties, distilling the essence of efficiency and client satisfaction.
For those with a penchant for networking and a keen eye for detail, property management can be the perfect tapestry of challenge and reward in the real estate industry.
Airbnb has democratized the rental property landscape, allowing homeowners to transform underutilized spaces - be it that quaint garage, the artistically adorned spare bedroom, or any cozy nook - into revenue streams.
By listing your property on Airbnb, not only are you maximizing your real estate's potential, but you're also tapping into a global network of travelers and adventurers looking for authentic, homely experiences. A well-maintained space in a prime location can easily fetch handsome earnings, sometimes tipping over $1000 monthly. Indeed, the value of your offering hinges on its location, ambiance, and the amenities you provide.
However, it's essential to approach this avenue with a clear understanding. While the allure of passive income beckons, there's a side of responsibility that accompanies it. Ensuring your space is pristine for each guest, managing bookings, and navigating occasional challenges with guests are all part of the package. Factor in the platform fees and potential insurance costs, and it paints a comprehensive picture of the endeavor.
But, with a sprinkle of dedication and a dash of hospitality spirit, Airbnb rentals can truly be a golden real estate side hustle, marrying financial gains with enriching interpersonal experiences.
Read Also: How to Calculate ROI On Rental Property
House hacking is the embodiment of a “live and earn” philosophy. If you've got a multi-unit property, the game plan is mostly straightforward: inhabit one unit and let the others out. This dual benefit not only provides you with a space to live but also channels a steady stream of rental income, offsetting mortgage or maintenance costs. Such an approach can be an impeccable initiation into the real estate industry, letting you juggle your primary profession while mastering the intricacies of property management.
But the beauty of house hacking extends beyond just multi-unit properties. Modern interpretations of this side job in real estate have evolved to encompass renting out any idle space you might have - a rejuvenating guest bedroom, a seldom-used parking slot, or even that garden shed that's more vacant than utilized. In the age of remote work and staycations, individuals seek unique, budget-friendly experiences, and your offering might be just what they're looking for.
Real Estate Blogging
The digital age offers the opportunity to establish oneself as an authority in the domain through real estate blogging.
Initiating a blog in the real estate niche is akin to constructing a property – laying the foundation with valuable content, fortifying it with robust SEO strategies, and eventually, adorning it with an engaged readership. While the initial phase might be labor-intensive, lacking immediate returns, persistence can pave the way to lucrative outcomes. Imagine, in just a year or so, your blog generating not only a sizable passive income but also placing you as an influencer in real estate.
With every post, you're not merely sharing information; you're nurturing a community. Readers, ranging from novice real estate enthusiasts to seasoned investors, will turn to your platform for insights, guidance, and the latest trends. And as your readership grows, so do monetization avenues - from sponsored content, affiliate marketing, to even hosting premium webinars or workshops.
A real estate blog, in essence, is a dynamic asset. The investment might be time and effort, but the returns, both financial and in terms of personal branding, are boundless. With dedication and strategy, your digital space can become the go-to hub for everything real estate.
Real Estate Photography
Transforming real estate into captivating visual tales is an art, and it's achieved brilliantly through real estate photography. This avenue isn't just about snapping shots of homes; it’s about bringing out their charm, their story, and their potential.
For those with a knack for photography and an eye for details, this can be an exciting foray. Whether you're an established shutterbug or someone seeking to pivot into the real estate spectrum, property photography can be the bridge connecting your skills with the industry's demand.
Kickstarting this real estate side hustle requires an initial investment in a top-of-the-line camera and the requisite editing tools. Initiate by capturing the essence of familiar spaces – perhaps your abode or those of friends. As you hone your skills, curate a portfolio that resonates with the vibrant dynamics of real estate – from cozy nooks to sprawling lawns.
Networking is your best friend in this endeavor. Reach out to local realtors, showcasing your portfolio, and illustrating how your visual narratives can enhance property listings, making them more appealing to potential buyers.
Moreover, as you build a rapport in the industry, consider branching out. Immortalize the joy of new homeowners in their space or even diversify into related niches such as event or landscape photography.
In essence, real estate photography is more than a job; it's an adventure, capturing the myriad tales of homes, waiting to be shared with the world.
Becoming A Certified Notary
Real estate transactions often include one crucial stop – notarization. As the digital landscape transforms traditional real estate methods, the need for reliable notaries remains steadfast, albeit with a twist. Traveling notaries are the modern answer to the evolving demands of the industry.
Ditch the visions of dated bank desks and queues; today's notaries are on the go, bringing their stamp of trust directly to your doorstep. Whether it's for digital mortgage services like Quicken Loans or local property deals, the certified notary stands as the sentinel ensuring compliance with state norms and turning online commitments into tangible, legally-bound agreements.
While the task may seem simple – a swift stamp here, a signature verification there – its implications are vast. Notaries are pillars of trust in transactions, and their presence instills confidence in both buyers and sellers. For those considering this as a side hustle, the benefits are many. A relatively straightforward certification process, coupled with the flexibility of time and a lucrative per-session compensation, makes it a sought-after avenue.
If you're keen on diving in, start by understanding your state-specific guidelines for becoming a notary. Once certified, network with real estate professionals, offer your services and establish yourself as a reliable, traveling notary. With every document you notarize, you don't just stamp papers; you stamp trust, credibility, and assurance in every real estate transaction.
7 Benefits Of Real Estate As A Side Hustle
Real estate side hustles also offer a plethora of benefits that make them an attractive option for many. Whether you're just looking to supplement your primary income or explore a passionate interest in real estate, there's a wealth of opportunity awaiting you:
Financial Boost: One of the primary attractions of a real estate side hustle is the added financial cushion it provides. From helping you manage day-to-day expenses, paying off student loans, saving for that dream vacation, or simply bolstering your savings, this extra income can be a game-changer.
Flexibility: Say goodbye to the 9-to-5 grind. Many real estate ventures, especially side hustles, come with the luxury of flexible schedules. Whether you're juggling another job, studies, or family responsibilities, these hustles fit seamlessly into your routine.
Career Exploration: Not sure if a full-time career in real estate is right for you? Side hustles are the perfect way to test the waters. They offer a risk-free avenue to gauge your interest and potential in the industry.
Financial Security: Having multiple income streams is more than just beneficial; it's a strategy for survival in uncertain economic times. Should one income source dwindle, your real estate hustle can be a reassuring backup.
Maximizing Current Assets: Many real estate side gigs allow you to capitalize on what you already have. Got a spare room? List it on Airbnb. Have a flair for photography? Dive into real estate photography. The opportunities are endless and often right under your nose.
Personal Growth: Beyond financial gains, real estate side hustles empower you with valuable skills and experiences. From negotiation tactics to understanding market trends, the learning is immense.
Potential for Expansion: Today's side gig can be tomorrow's full-time passion project. With the right approach and commitment, these hustles have the potential to evolve into bigger businesses or even a full-blown career in real estate.
In essence, real estate side hustles are not just about making quick money; they're about tapping into a sector filled with potential and growth. As the real estate landscape evolves, those with the foresight to seize these side opportunities stand to gain immensely, both in terms of wealth and personal development.
How To Make Real Estate A Side Hustle
So how do you put all this together?
At Real Estate Skills, we believe the most important factor in establishing a strong real estate hustle is having the right mindset.
Without a proper self-assessment of your abilities, financial situation, and time availability, you’ll never be able to get off the ground.
Before jumping into a real estate side job, look yourself in the mirror and envision what you’d like to become.
Are you looking to make a couple of extra bucks a month to pay for some beer and pizza with friends or are you looking to create an entirely different side business to expand your interests and make a few thousand dollars?
Are you doing it to pique your interest in short-term rentals or house hacking or are you looking to eventually quit your full-time job and flip houses full-time?
There is no right or wrong answer, but you must be honest with yourself. As long as you have the right mindset you can really do anything.
Final Thoughts On Real Estate Side Hustles
There are so many ways out there to make money in real estate side hustles. You don’t have to be a financial guru to work out ways to scrape some extra cash to help make ends meet.
Educate yourself and dive right in with our brand-new FREE training course on wholesaling real estate and house flipping!
We also have some great resources on our website and incredible courses in the real estate investing and wholesaling space that could prove to be extremely lucrative for you.
Listening to freelancers, bloggers, personal finance podcasts, and reading books is a great place to start. Although it might be scary, take the plunge. You’ll be happy to see yourself achieving financial independence and earning extra money on the other side.