Sound Off: Making Money in Real Estate Without Selling Homes
Renting is the easiest way to generate passive income. The more units, the less a delinquent tenant affects your income. Short-term rentals of spare rooms or renting your entire home while away on vacation brings in extra cash. Raw land can be rented to farmers or made into an RV park without the upkeep costs of a building. Many people lease oil, gas and mineral rights and amass wealth from land they’d otherwise not use.
Lending to people, for more interest than a bank charges, who either need a quick source of capital or who can’t get financing for their real estate purchase is called “hard money” lending and is lucrative. Given low interest rates, withdrawing cash from your equity to invest in a business opportunity could be a wise decision. Your house may be exactly what a producer needs for a film. Film producers often pay thousands of dollars a day to film in people’s homes.
Paragon Real Estate Group