For newcomers in real estate and investment there are considerably many ways to earn. You can make money thru following a particular step and adhering to a particular school of thought. And here below are some of the most common ways to earn money in real estate, and as also reported in biggerpockets.
Bird Dogging
The term would surely be relatively new to you, and for that matter Bird dogging is "concept of hunting dogs chasing birds and retrieving them after the hunter has shot them." Applied in the context of real estate, the dogs would be the real estate investors, and the birds are the real estate properties. You are actually looking for a property with substantial investment potential. A distressed property with a selling discount for a sizeable profit is your target.
Wholesaling
Through this method you may invest in real estate even with a little capital. Though you'll not be easily rich, you will still get enough knowledge about real estate by employing this method. This would mean that as a wholesaler you would contract a property with a property owner. You would have to market the property and once a potential buyer is found, you would assign a contract to the buyer. Now the "difference between the contracted price of the property owner and the amount paid by the buyer of the property" is your profit as a wholesaler.
Buy, Fix and Flip
This move is considered as the best way of earning money in real estate; however, it is also the most expensive approach in contrast to the preceding tips. In this approach you would have to buy an old or discounted property, and then you would be renovating and finally reselling it in the market. Basically the idea requires a load of cash and a property that is relatively cheap which you can sell for a sizeable amount.
Real estate like other industry is a vast industry full of opportunities and competition. However, there are some experts within the industry that would be more than willing to guide you. All you have to do is ask. If ever you already experienced some of the mentioned tips, please feel free to share of its results, like and comment below.
