How to start making money in real estate?

make money with real estate

Real estate has produced more wealth than any other industry in the history of time. Most think that they need to start with some sort of capital. That's clearly not true. Is it good to invest in real estate? Absolutely. This is one of the sources (aside from being a business owner) that has generated the most wealth in our history.

Take the top 10 billionaires in the Philippines for example. 8 out of 10 of them have diversified or have a sizeable real estate participation. Most of them of course didn't start with a lot of money but with a lot of hard work and persistence.

My point? You don't need a lot of starting capital to make money in the real estate industry. But you do need the knowledge and the know-how. Here's how to start making money in real estate.

Recommended Read: Overview of Real Estate Investing Basics for Beginners
What are the 3 ways to make side income with real estate?

1. Finding properties for purchase or rentals for friends and family

2. Saving money on my own purchases

3. Finding investment deals for myself and other investors

Not only do I use my real estate license to make extra money, I use it to save money. When purchasing properties, I broker my own deals. I also know of any new listings as soon as they are posted, giving me an advantage at finding the next great deal. Having direct or a "first-in-line" access to listing information is very valuable and convenient.

Here's a step-by-step process to find properties for friends and family members:

Step 1: Sign up with property developers or join a realty or be under a Real Estate broker to gain access and receive all the available unit listings.

Step 2: Anytime a friend or referral from a friend is looking for a property I will e-mail them a list of the current available units.

Step 3: I have them select which units they are interested in viewing and answer all related questions to it.

Step 4: We then set up a date and time to view the properties, and I typically show it to them on holidays and/or weekends as I am working full-time and they are as well.

Step 5: Once they select the unit they are interested in, I’ll submit their application to the developer. After all the formalities and processes on that end, we proceed to finalize the deal.

Step 6: The developer will send a commission check to the Real Estate office, and then obtain the percentage as agreed upon with the office.

The time devoted to this process for each client is typically anywhere from 4-6 hours.

Recommended Read: How to avoid Real Estate scams in the Philippines

Multiple streams of income don’t have to just be about the money. They can be about adding services to your real estate brokerage business to better serve your clients. Many services can be used to provide more value to your buyers and sellers while simultaneously bringing you more buyers and sellers through a strong referral network.

Consider services like (to name a few):

• Cleaning Services (For homes or condo units)

• Become a guide for local experiences (Food, learning, travel or night-life tours)

How you profit from real estate depends on YOU.

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How to start making money in real estate? How to start making money in real estate? Reviewed by Vernon Joseph Go on Saturday, August 04, 2018 Rating: 5

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