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The Best Ways to Make Money in Rental Real Estate – Fast!

Miniature Houses on a Piles of CoinsWhen investing in Waltham rental properties, the key to long-term success is in knowing how to generate income through your investments, regardless of how long you’ve been in the industry. According to recent data, individual real estate investors own almost 75% of all rental properties in the U.S. And, with home values on the rise in markets nationwide (more than 19% since 2020!), buying real estate is both a popular and a potentially profitable way to build wealth.

It’s easy to believe the lie that investing in rental properties will easily generate good money. As it is an investment, naturally, it will come with many points to consider. But, with proper knowledge and skills obtained through research, it’s possible for you to make money in rental real estate quickly!

Quick but Risky

The approaches that generate more profit in real estate investing will require more time, obviously. But, there are ways you can make a quick buck through real estate. House flipping is a great way to do just that. Just as you’d expect, it does come with pros and cons. House flipping, for example, can generate good profit in a year.

The process of locating, buying, renovating, and then re-selling just one property can require a certain number of days, weeks, or years, even! Along the way, you could encounter unforeseen expenses like repairs; or, maybe even a sudden downturn in the market. To create a steady income stream, you will have to keep your eye out for investment properties and several renovation projects at a time. This can be a source of stress, and it will demand a lot of your time.

Profitable (Maybe) and Volatile

Something else you can do to make fast money by investing in real estate is to buy property as a vacation or short-term rental. Some investors like the idea of charging far more than long-term rental rates for a property, especially if it is near popular vacation areas or destination spots. The negative side of owning these rentals is that you are subjecting yourself to a very volatile market. Should tourism decline, for instance, or events don’t push through, your property probably won’t be as profitable.

Short-term and vacation rentals are great! But, if you want a steady income from them, you would need several tenants. Be ready, though; you will have loads of tenants to screen in the screening process. Given how many people are going to be going in and out of your property weekly, wear and tear are going to be more evident. Of course, this means maintenance and repair. These costs will add up, and they will generate a loss, especially if competition is high and hotels are cheaper, or if you can’t rent your property.

Profitable and Stable

If you want a less stressful option, you can go down the buy-and-hold approach to real estate. It’s just as profitable as these riskier methods, too! There’s a reason why many investors have preferred long-term rentals. Long-term rentals like single-family rental homes require less daily attention. Tenants in these rentals tend to stay for long periods of time, especially because the number of renters has shot up in years past. This will lessen the burden of having to market or screen tenants.

What is more, tenants in long-term rentals tend to take better care of the property and can be relied on to help with regular maintenance tasks. With vacation or short-term rentals, that’s simply not the case. With long-term rental properties, rental income is far more regular and steady, and over time, property appreciation can make owning long-term rentals one of the best ways to build real wealth.

If making money through investing in rental real estate is your thing, then you’re in the right place. We can help you achieve just that. Our Waltham property managers work with investors like you to help find, assess, and manage quality single-family rental properties. Contact us online to learn more!

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