We live in the Digital Age. Virtually all facets of business and communication have been changed by the numerous forms of technology and the Internet. As you would expect, aspects of real estate have also been modified. In this blog, we’ll discuss the different ways to make money in real estate at the click of the mouse.
Become an Airbnb Host
Want to make money in real estate and meet people from all around the world? Then you better rent on Airbnb. The website allows you, as the investor, to list short-term vacation rentals online for interested guests to see and rent out. Not only is being an Airbnb host very fun, it is also very profitable. In fact, it is typically more profitable than traditional real estate, with many investors earning 30% more through Airbnb.
In terms of earnings, you dictate how much you earn, to some extent. You set the price of your Airbnb property, which will depend on various factors such as location, property, market, season, and amenities you include. To see just how gainful your Airbnb property can be, check out Mashvisor’s investment property calculator.
Airbnb has your back when it comes to advertising. The property is advertised on the website free of charge. You will also be provided with a free photography service that takes decorative pictures of your property. Airbnb properties and tenants are rated on the site, giving guests an idea of where to rent and giving hosts a clue who to rent to.
Another perk of Airbnb is that it allows for a consistent payment of rent. The transaction takes place online, and Airbnb will send you the rent paid by the guest.
Related: The Ultimate Guide to the Airbnb Investment Property
To make money in real estate through Airbnb more easily, consider hiring a property manager. Having a property manager obviously comes with a fee, but it will be very beneficial overall. The property manager will take care of checking-in and checking-out guests, cleaning the property, restocking disposables and other items, and listening to guests’ questions and concerns. This saves a lot of time and involvement on your end, while still reaping the benefits of having a productive Airbnb property.
Related: 7 Things to Consider When Finding an Airbnb Manager for Your Vacation Rental
As great as a service Airbnb is for both guests and investors, it has raised a few eyebrows from certain state and city governments. Restrictions in certain areas complicate the process of renting on Airbnb. For instance, some cities require excessive permits, payments, or taxes in order to run an Airbnb business. Always be aware of the legal status of Airbnb in your city, so that you make money in real estate smoothly. For information and analytics on Airbnb properties, visit Mashvisor.
Related: Cities With The Least Airbnb Legal Issues
Invest in Virtual Real Estate
Don’t want to make money in real estate through the usual, physical real estate? Consider investing in virtual real estate.
The term ‘virtual real estate’ may sound odd to first-timers, so what exactly is it? Simply put, virtual real estate means buying, selling, and investing in websites and domain names. A website refers to the content provided on a web page, whereas a domain name is the name of the website.
Owning a website or domain name is considered a virtual property. If you want to make money with this real estate, you’ll need to understand what determines value. The amount of traffic, or visits on the property, determines value, which in turn determines earnings.
There are different ways to make money in this kind of real estate. Buying virtual properties and selling them at a greater price once their value has increased can generate gainful income. You can start low with monetary investments, and once the traffic has increased, you can either increase on the revenue you’re making or sell the property.
You can also profit off of affiliate marketing. This means attracting customers through ads or websites to make purchases on other websites. This can be as simple as having an ad on your property. Beginning in affiliate marketing is often not too difficult, many companies allow you to sign up for this activity.
Investing in a virtual game world is also another way to make money in virtual real estate. You would have to sell and buy properties in the game like characters, weapons, and buildings, which will translate to actual money.
Any of the mentioned strategies will definitely help you to make money in virtual real estate. Be sure to meticulously research and plan before investing, buying, or selling any form of virtual real estate.
Use the Internet to Find and Learn About Properties
One of the most groundbreaking features of the internet is the ability to conduct comprehensive research in a matter of minutes. So why not use the internet for real estate research?
There are many real estate websites that provide information on properties and tips on how to run them. Some include Trulia, Realtor.com, and Zillow. Mashvisor helps you locate the best areas and properties for real estate investments.
Related: Top 5 Sources for Your Rental Property Search
As a fountain of real estate knowledge and analytics, Mashvisor helps you search for properties in cities nationwide, analyzing neighborhood by neighborhood. You will be provided with the breakdown of expenses, home prices, average incomes, cash-on-cash returns, rental comps, occupancy rates, and more for both traditional and Airbnb investment properties. Three months’ worth of research is turned into 15 minutes. For more valuable advice and information on all things real estate, check out the Mashvisor blog.
In order to make money in real estate, prospective tenants will have to know and hear about the property. Long gone are the days with printed advertisement as the primary method. There are now so many platforms to advertise the property from Zillow to Craigslist to BiggerPockets. You target the right kind of people and save money doing so.
Related: 4 Must-Use Real Estate Investing Resources
There is a common notion that to make money in real estate online is the easiest way to make bank. This may or may not be the case, but a couple of things are for certain. You will need to work diligently and plan carefully to earn great sums of money. It may take time, but it is surely worth it in the end. Visit Mashvisor to help you reach your goal more quickly.