Being involved in the real estate industry can give you a lot, like money, success, great connections, and so on. Yet, in order to have all of this, you need to work hard.
The first step towards your goal should not be about buying or selling investment property. It should be about selecting the most suitable role in this business from the many real estate careers out there. So, is your path becoming a real estate investor, real estate developer, or real estate agent? Curious to find out which career suits you the best? Just keep on reading as we will explain everything about real estate careers.
#1 Real Estate Careers: Becoming a Real Estate Developer
A real estate developer is one of the common real estate careers in this industry. However, not everyone can become a developer. To understand if this path is the right thing for your, just check this section out.
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Real Estate Education
Becoming a real estate developer is probably the most challenging real estate career of all. The desire to become a real estate developer should arise when choosing your education at college or university. Why should I decide so early? Well, without a proper education, you have almost 0% chance to succeed. Reading real estate books and blogs about making money in real estate through development will help, but not much, unfortunately. You need a degree! Moreover, if you plan on being more than just an average real estate developer, consider signing up for a master’s degree in real estate development or in any other closely related sphere. Consequently, it will take years before you can be called a real estate developer.
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How to Make Money in Real Estate Development
So, how to make money in real estate development? Commercial and residential real estate are the most common fields. As a real estate developer, you need to find land and prepare it for construction work. Further, a real estate developer needs to hire a team of professionals that will make the project come true. What is important to mention is that the real estate developer is the one who manages all the processes and operations. Consequently, the real estate developer is the one who makes the most profit from the whole project. Moreover, depending on the size of the project, the profit may exceed one million dollars. Curious to know among all the real estate careers, how much does a developer make? Make sure to read “How Much Does a Real Estate Developer Make?”
#2 Real Estate Careers: Becoming a Real Estate Agent
Becoming a real estate agent is another very common real estate career in this industry. By becoming a real estate agent, your main task most likely will consist of supporting real estate investors and developers in conducting their business. In other words, a real estate agent acts as a middleman of any real estate transaction.
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Real Estate Education
To start your career as a real estate agent, you will first need to acquire official education. Moreover, to become a qualified and legit real estate agent, you will need to obtain a license by passing exams. Depending on where you would prefer to focus, you will need to have in-depth knowledge in a certain sphere in order to stand out among other real estate agents. You are required to have good negotiating skills, as you will be the one who will help investors (and homebuyers) in selling or buying an investment property.
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How to Make Money in Real Estate as an Agent
In order to start making money in real estate as a real estate agent, it is not a secret, you need to work hard. It is important to grow your real estate network in order to get the best deals in your pocket. Moreover, a good real estate agent needs to know how to use various real estate investment tools in order to increase the efficiency of the work. The real estate housing market is a brutal place to be. Consequently, your name must have weight in this industry, which means that you need to build a good reputation to succeed. What might be your salary? Well, it may reach a 7-digit number.
#3 Real Estate Careers: Becoming a Real Estate Investor
Being a real estate agent and developer might sound cool. Yet, what if you do not have any relevant real estate education, are you still able to start making money in real estate? Absolutely, all you need to do is to consider becoming a real estate investor.
Why consider becoming a real estate investor, or in other words, who is a real estate investor? From the many real estate careers, becoming a real estate investor is the easiest way to introduce yourself into the real estate business. For example, a real estate investor might be interested in selling or buying an investment property or maybe owning a rental property. All you need to do to become a real estate investor is to start investing. However, are you interested to know how to become a real estate investor that makes good cash? Just keep on reading.
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How to Become a Real Estate Investor: Buying & Selling Investment Property
Buying and selling investment property is a great way of making money in real estate fast. Yes, we are talking about the fix-and-flip investment strategy. The main idea behind fix-and-flip is buying an investment property that is in bad condition, fixing it, and selling it for a higher price. This is the fastest strategy to make money. In order to locate such properties, you do not need to have a real estate education; all you need is real estate investment tools. Interested to know what are those real estate investment tools? Make sure to read “The 21st Century Must-Have Real Estate Investment Tools.”
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How to Become a Real Estate Investor: Becoming a Landlord
How to start a rental property business? You just need to select a property and invest in it. However, whether it is a long-term or short-term investment property is absolutely up to you. On one hand, owning an Airbnb is about taking many aspects into account, such as marketing, advertising, customer relationship management, operation management, etc. Yet, you may hire a professional property management company that will deal with all the operations of your business. On the other hand, you might be owning a rental property that is for long-term rent only. The advantage of it is the steady monthly income. However, you will not be able to earn as much as Airbnb investors do. What is important to mention is that both investment strategies are seen as the great ways of making money in real estate.
However, to be truly on top of the housing market, you should make wise decisions when investing. In order to make only the right investing decisions, it is advised to use an investment property calculator. Mashvisor’s investment property calculator is efficient as it provides many analyses in order to ensure that the property of your choice is the right decision. Curious to learn more about this investment property calculator? Make sure to read “What Can an Investment Property Calculator Do for You?”
Get started with the calculator by taking advantage of Mashvisor’s 14-day free trial here.
Conclusion
Different real estate careers have their own advantages and disadvantages. However, when you plan on having an extra income and still keeping your main job, then it is advised to consider becoming a real estate investor. Moreover, if you wish to make money fast, then becoming an investor is one of the best choices you can choose from among the whole list of real estate careers. What is important to mention that might carry weight on your career choice is the process of education. To become a developer or agent, you need to have an official education. Moreover, you will need to pass a certain examination. When becoming an investor, you may study from home by reading different literature, such as blogs, books, etc. Ultimately, weigh your options and see which one suits you best.
Become a real estate investor with Mashvisor. If you have questions about Mashvisor, click here to read our FAQs and learn about our tools.
