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How to Make Money from an Empty Home

StrategyDriven Entrepreneurship Article |Make money from an empty home|How to Make Money from an Empty HomeThe property market is in a terrible state right now because of economic factors. But there are still some viable ways you can make money from an empty home between waiting for tenants.

Consider Selling It in Its Current Condition

An empty property, residential or commercial, will lose you money. And you still have to pay your mortgage whether it’s engaged or not. Therefore, it might be worth biting the bullet and selling a property rather than holding on to it. It could be the case you lose money overall, but it’s better to cut your losses. Property law firms can help you with the conveyancing side of things. And your real estate agent can take care of other formalities and advise you moving forward.

Use the Land for Parking

If your home is in a great spot and has its own land, you can create profit by renting out the land around it for parking. This can be done for offices or services in your area. Still, even neighbors might be prepared to pay to park close to their own homes. In some places, parking is hard to find, so if you have the land, parking can be a profitable business. But you will need parking enforcement agencies that may be able to help you out when people park without paying.

Make Money from an Empty Home with Storage

A property that is for sale has something you would never think of. It includes space. And space is a valuable item that can bring in a significant amount of money. Most folks have too many belongings and are constantly searching for places to put them. You can give a friend or family member the sole use of your home to store their things. Or you could put in safe lockers and turn rooms into secure units. Of course, there will be a cost for things like security cameras.


Rent it Out as a Vacation Home

Depending on how it looks, it could take more than a year for a house to sell. You can, of course, get help attempting to sell it or wait for a tenant if you want to rent it out. Property management services know how to set up homes for rent, find tenants, and keep track of rent. But there are a lot of people looking for places to stay near attractions, national parks, and beaches. With sites like Homestay, you can make money in the vacation rental market.

Use Your Property for Good Causes

If your house is safe and well-kept, you can consider letting various support groups or charities use it for good causes. This is a great way to prevent losing a lot of money on a property while you wait for a bid or a new tenant. You could, for example, give your property to a charity that helps people who are being abused leave their relationships. Or, it can be used as a place for Foster children and wards of the state to stay in between finding a permanent placement.

Summary

You will lose money when a home is empty. But you can make money from an empty home in various ways. These include selling “as is,” renting parking spaces, and assisting local charities.

How To Supercharge Your Property Business

StrategyDriven Managing Your Business Article |Property Business|How To Supercharge Your Property BusinessWith the current state of the real estate market, it’s been difficult to find good opportunities for people to make money. There are many ways on how to make money with real estate, but some of them are more effective than others. If you have a property business, whether you’re getting started or not, you may be wondering what you can do to make things really take off for you.

To start, you need to have a clear understanding of your goals. What is the impact you want to make with your property business? Do you want to increase the revenue of the business, give back more to your employees, or engage more customers? Once you have a clear idea on what you want, then it is time for the next step. But to help you get there, you’re going to want to take these key points into consideration.

Making Money With Real Estate

There are many ways that you can make money with real estate. Investing in one property is not the only way to benefit from your purchases. There are other ways like flipping properties, investing in multiple properties, etc. Or, if you’re running a real estate agency, then you can use your expertise to sell homes or commercial properties and earn money that way.

The key to making money with real estate is having the right strategy and following through on it. Real estate is an extremely lucrative venture, but also very risky. There’s a lot at stake when it comes to your investments and you should know what kind of risks you’re taking when deciding on how much money you want to put into your business future. So come up with a plan and start to execute it.

Market Your Property Business for Further Growth

There are a lot of property marketing techniques that you can use to help grow your business. The most important thing is to know how to market your property business in a way that gets you the most clients and the best return on your investment. You can also turn to an expert real estate marketing company to help you if you’re not an expert at this. But overall, you need to be sure that you have a professional looking website and that you know your market. That way, you can drill down and work out the best ways to target them – whether that’s through advertising, direct sales, or using social media.

How Technology is Transforming the Property Market

With the advancement of technology, property has also been one of the markets that have been influenced here. The evolution of the property market is now driving sales technology. With this innovation, salespeople are now able to reach out potential customers with automatic phone calls and emails which help them convert more leads into sales. You can take a look at the different software packages that are going to make your job much easier and more efficient too.

4 Ways to Maximise Real Estate Investing

StrategyDriven Entrepreneurship Article | 4 Ways to Maximise Real Estate InvestingWhat do your investor friends talk about all the time? What investment vehicles do they discuss, and what sectors dominate the conversations? Chances are that real estate investments are a major part of every conversation. People are drawn to real estate investments for a number of reasons: Having a real-life asset that you can touch, or amicable tax incentives are among many reasons why real estate is a popular investment niche. If this is something that you’re interested in, be sure to check out Brooklyn, NY property management.

But beyond the water-cooler conversation, how can you get the most out of your real estate investments? What do you need to do to maximize their potential, and what tips or tricks should you keep in the back of your mind for future deals? In this article, we’ll look at four possible ways to maximize your real estate investments.

Look Global

Global real estate investments have never been more accessible for investors large and small. New investment vehicles, accessible online, allow a small investor in Florida, USA and a large investor from Saudi Arabia to invest in the same properties. One of the most common vehicles is the US-based Real Estate Investment Trusts or REITs. A REIT is a company that owns, operates, or invests in revenue-producing real estate. REITs function as intermediaries, allowing investors to see profits and revenue without direct ownership or property management.

REITs began in the United States, but have now spread around the world; in the US, various kinds of REITs account for nearly $3 trillion in gross assets. There’s a wide range of flexibility within the world of REITs; a REIT can invest in any form of real estate, although most specialize in a particular niche. Hotels, multifamily, offices, senior housing – all are legitimate sectors for REIT investments.

Go Mobile

It’s the age of apps, and real estate investment is definitely in on the trend. There are apps to help locate investment opportunities like Property Fixer, apps that provide networking and education resources like BiggerPockets, and even apps that allow direct investment into REITs. In the last category, known as eREITs, you can find highly successful apps like Fundrise, which have taken the expanded reach of REITs and put them onto everyone’s phone. The world of real estate investment has even produced entire suites of software designed to streamline communications between investors and operators. These suites, known as Customer Relationship Management (CRM) software like the one from Groundbreaker.co, are all aimed to boost your real estate investments to their maximum potential while giving you more access to your portfolio from anywhere at anytime.

Get Expansive

Today is not the day to think small. Whatever your budget, there are more opportunities than ever before, from traditional house-flipping to building a portfolio of REITs that focuses on specific niches you find attractive. There are new investment niches, such as green real estate or the growing student housing market, and new ways to research those areas. Think big, look beyond local markets only, and network with other investors to find and fund new real estate opportunities.

Shrink Your Vision

Now for the opposite advice: don’t forget the small-scale stuff either! There are lots of opportunities still available close to home. Some long-standing investment models are receiving fresh attention and interest. Delaware Statutory Trusts fall into this category, an older, well-established model of investment trust which has recently emerged as an attractive vehicle that facilitates participation in tax-deferment programs for real estate investments. While you are pursuing and researching the latest and best eREITs and investment apps, don’t forget to perform due diligence on some of the tried-and-true methods right in front of you.

Conclusion

From new apps with a global reach to long-standing legal entities designed to protect your investments, these are four ways to maximize your real estate investing and give your portfolio new life.

How I’m Retiring In Style and How You Can Do It Too

StrategyDriven Entrepreneurship Article |Retirement Planning|How I’m Retiring In Style and How You Can Do It TooToday I am one of a small group of investors that owns several Commercial Real Estate (CRE) properties valued at over $50 million.

The First Leap to Financial Freedom: Starting my own business

In August of 2003, I made the great leap into the unknown when I went into business for myself. It turned out that starting Marshall Commercial Funding was the single best career decision I have ever made.

Financially, things changed quickly and dramatically.

For the first time in my life I was making good money. I was able to sock away money into savings which was good because we all know what happened in 2008 – The Great Recession. I was able to weather the economic storm because I had enough money in savings to make it until the real estate market turned the corner. And when the economy improved I was able to pick up right where I left off before the recession hit.

The Second Leap to Financial Freedom: CRE Investing

So in 2007 I made the next biggest and most financially rewarding leap in my career. I approached one of my long-time clients to see if I could invest with him.

He had everything I was looking for in a real estate sponsor: He was competent, he was trustworthy and he had a proven track record. I asked him if he would be willing to take me on as an investor when he purchased his next rental property and he readily agreed.

Do you remember where the real estate market was in 2007? It was at the absolute peak of the last real estate market cycle. My timing couldn’t have been any worse. Nevertheless, I have invested with him nine times.

Retiring In Style Is My Goal

Today, not only could I retire at this very moment, I could retire comfortably. I don’t know about you, but I don’t want to retire comfortably. I want to retire in style. I want to see and do all the things I’ve always dreamt of.

Currently I have seven sources of passive income generated from my real estate investments. I estimate if I wait a few more years I may have as many as two or three additional sources of passive income. And when the passive income from my rental properties coupled with my future Social Security checks consistently and significantly exceed my monthly personal expenses, then and only then, do I plan to retire.

At that point I’ll be able to retire in style. And although I haven’t quite gotten their yet, I’m ever so close to doing so.

If I can do it, so can you!

Why am I telling you about my journey from financial distress to hopefully retiring in style? Because I believe that 90% of you reading this, if not more, are in the same predicament I was in. You’re either currently in financial distress, as I was for the first 24 years of my CRE career, or you are financially prosperous but realize that unless things change dramatically you’re not going to retire well.

I’m here to emphatically tell you if I can go from serious financial distress to being on the verge of financial freedom, SO CAN YOU!

Follow the Road Map to Financial Freedom

Simply put, by investing in commercial real estate you can slowly, but steadily build real wealth and grow passive income from your rental properties. It’s not a myth. And it’s not a get rich quick scheme. It actually works.


About the Author

StrategyDriven Entrepreneurship Article |Passive Income|How I’m Retiring In Style and How You Can Do It TooDoug Marshall, CCIM, founded Marshall Commercial Funding, Inc., a commercial mortgage brokerage firm located in Portland, Oregon in 2003. He has more than four decades in the commercial real estate business. His new book is Mastering the Art of Commercial Real Estate Investing: How to Successfully Build Wealth & Grow Passive Income from Your Rental Properties. For more information visit: www.Marshallcf.com.