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7 Top Real Estate Investing Jobs |
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Real Estate investing has long been proven to make tons of CA$H for the active investor and many of the real estate investing methods and techniques used to make some of the biggest (and quickest) CA$H only require a little time and a bit of knowledge (i.e., NO MONEY and NO CREDIT!) to rapidly bring home a really big check!
That´s the appeal of Real Estate investing courses to most people - to do deals that require little/no money or credit yet pay back huge rewards for the time and knowledge you get from following their systems.
Yet, the investing gets a bit lost in most of the world of Real Estate Investing - there is no investing other than a bit of time - there is no ROI (Return On Investment) other than the time-for-money factor.
Thats why I call these activities Real Estate Investing Jobs -they stop bringing income as soon as you stop working them.
Real Estate Investing through these jobs, while they make you CA$H, will never give you financial freedom as they only generate quick money and not long-term, passive income.
This article will look at some of the more popular methods of Real Estate Investing jobs.
One of the biggest challenges to overcome is the fact that, when discussing the money made through Real Estate Investing, the numbers of dollars are much more than your common corporate job, and many people simply are not ready to handle such discussions.
You see, when you were very young, you were programmed to think that $X was a large amount and often this amount was only a few hundred, or perhaps, a few thousand, dollars.
Yet, when discussing Real estate investing deals, there are often multiple thousands of dollars at stake.
Most people simply are not used to discussing such numbers, and wind up not making the money they could. They simply have not learned the language of Real Estate Investing.
One of the first lessons I teach my students is how to get past the fear of discussing hundreds of thousands of dollars and changing the programming you were given as a child to form open ideas about money and investing to make even more money.
One quick step you can do to begin this journey is to look deep inside yourself and ask yourself how you feel about money. Can you comfortably discuss figures in the hundreds of thousands of dollars?
Most people learn quite quickly - with just a little bit of practice.
With that in mind, it is time to look at these Real Estate Investing Jobs more closely.
These jobs bring you various levels of income, depending on your area, so instead of discussing them in dollar values, we will look at them from a percentage standpoint.
Of course, with these examples, the amount of work, time and knowledge you put into it will certainly pay off more (or less);
1. Property Profiling (birddogging) - this popular way to get started in real estate investing provides a real estate investing job with a decent income - something along the lines of what a factory worker would make in the area.
2. Lease Purchase - this powerful tool can be utilized to buy and sell property with no money out of your pocket (a Real Estate Investing sandwich), while keeping a nice pocketful of money for your time (can you tell this is one of my favorites?) An active person can make about 1.5 - 3 times more than the Property Profiler, on average.
3. Subject To - with a bit of training, you can make this method of real estate investing really pay off big. Once you know how to negotiate these deals, your real estate investing income will reach that of corporate executives - with much less of a time requirement.
4. Foreclosures - while highly lucrative and one of the top income producing methods of real estate investing, the time and knowledge required to actively pursue such deals is becoming more difficult all the time.
The payoff to those that can perform these deals is huge - about 10 times that of the Property Profilers, however, finding deals is much more difficult due to the number of people looking for them.
5. Tax Lien certificates - this is a true form of Real Estate Investing - actually putting your money into something that produces a return - one of the safest investments around with returns that beat any other form of passive investing. If you have money to invest, this is a great area to get into with 15%+ return with almost no down side.
This is still a real estate investing job as tax lien certificates are short term, quick turn profit generators, not sustained over time, plus they take skill and talent to make the maximum profits.
6. Short Sales - this form of Real Estate Investing is another job, as your knowledge level and timing are extremely important. A lot of money can be made with this type of Real Estate Investing job - as much or more than any other form - once you know how.
7. Secondary notes/Purchasing Equity positions - a higher level of real estate investing, where more knowledge is needed to limit the risk, however, the returns on equity position purchases can be extremely high - from 6%-10% for fully passive results and skys the limit for purchasing equity positions.
Yes, once you get past the internal false programming - the LIES you have been taught all your life about money, you can begin a successful career in Real Estate Investing - through a variety of Real Estate Investing Jobs and then onto true, full, watch-your-money-grow Real Estate Investing.
Steve Majors - The Lazy Investor
Profit from Real Estate Investment articles, real estate investing information and news from one of the most creative investors on the planet ~FREE MEMBERSHIP & real estate training course~ http://SteveMajors.com |
Careers: Becoming a Real Estate Agent
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If you are considering a career as a Real Estate Agent, there are some things you should know and think about before taking the plunge. There is a common misconception that becoming a licensed Real Estate Agent is like being given the keys to the U.S. Mint. Nothing could be further from the truth. You can earn big, but it"s hard work and there are lots of expenses and fees along the way.
Let"s begin with your motivation and qualifications for becoming an agent. If you want to make money, it"s there to be made. If you"re looking for a way to dig yourself out of a financial hole in a hurry, this isn"t it. The big payday will be a long way off and you shouldn"t expect any earnings whatsoever for three to six months. Oh, yea, and you have to be a terrific Salesperson! If you are not a natural born Seller, decent conversationalist and self-starter who makes Donald Trump look lazy; you will not earn big money as a Realtor. You have to be smart, tough, good with math and have a knack for understanding complicated paperwork. You also have to have startup money and plenty of patience .
An entire closet industry has grown up around preparing people to become Real Estate Agents. Those who take college courses for the certificate needed to get a shot at the Agent Test are shocked to find that what they have learned is not enough. Almost all of these courses are geared to what happens after you become an agent and do not provide the basics needed to pass the test. Instead, you"re forced to spend another two to four hundred dollars for a brain slam session designed to help you pass the Agent Test. There may also be some additional seminars that you will need to attend and pay for in order to qualify for your license.
Once you manage to take and pass the Agent Test, there is a completely new challenge. You have to find an honest Real Estate Broker willing to take on a newbie. Here is where it gets tricky. Unless you have a large cache of moderately wealthy friends with great credit who are ready to buy or sell their homes, you are going to have to spend a lot of money to get started in a meaningful way. And I"m not just talking about business cards, car signs, a website and cell phone minutes.
Brokers do not make money by passing good leads to inexperienced agents. If you sign up with a "bargain Broker" and cannot easily generate your own leads, expect to starve. They are there to be served, no to serve. The alternative is spending several thousand dollars to sign up with a big name franchise. These operations are backed by nationwide advertising and a great brand name. However, this still doesn"t guarantee you good leads. It just means you have an organization backing you that offers a better chance to earn then Jerry"s Happy Home Real Estate Office down on the corner of Main and Used Car Lots Avenue.
Even the best Real Estate Offices have a pecking order and exist on a currency of THIS FOR THAT. If you want decent leads, you are going to have to put in some phone, desk and office time. You"ll be expected to cover for other Agents who are too busy for their own Open Houses. The worst part will be driving around your share of people who just like looking at pretty houses, cannot seem to make up their minds about anything and probably have no intention of buying from you anyway. In short, any Broker worth their salt will try and squeeze as much money, time and effort out of new Agents as they can. The more experienced and successful people know better or go on to be Brokers. You have to learn quickly and focus on the money, not being the most popular person in the office.
The worst mistake new Agents make is getting involved with Apartment Rental or Time Share Brokers. Newbies often do this because the realty offices that handle these types of properties paint a pretty picture of easy commissions and big paydays, without all the startup money. Many provide new Agents with a nice desk; some discount business cards the equal opportunity to earn and the promise of big bucks. The only problem is actually being paid.
Rentals are a haphazard way of making money as an Agent. You have to rent a large number of apartments, houses and condominiums to make a decent buck. Even after you do start to see leases signed, the properties that pay your Broker tend to hold back the commission for extended periods of time just in case the tenants bug out of their lease. Most Brokers add two to six weeks on to that hold before they release your money. Whether any of this is legal or not doesn"t seem to matter. It"s just the way things are done. When rental agents finally do get paid, it always seems to be less then expected. That"s because your beloved Broker probably forgot to explain the extra fees charged for office space, phone use, website and email sharing, lead generation and advertising.
The upside of being a Real Estate Agent who deals with rentals is securing a position with a large management company or reputable relocation service. While these positions are few and far between, they do pay well and on time. There are a number of large management companies that handle apartment rentals for large properties. Most offer some sort of salary and benefits, plus a small commission. Legitimate relocation services contract with large companies to find rentals for employees involved in short or long term projects. They also tend to offer a salary verses commission compensation package.
Time-shares are for hard-boiled people with great smiles. Most States allow several days for people who purchase Time Shares to change their minds, and many do. Beyond that kind of frustration, there are hassles with being paid. Like the rental biz, pay hassles, expenses deductions and commission disputes are common. Let"s face it. If you want to make the really big money in Real Estate, you are going to have to sell traditional properties.
Even if you happen to be fortunate enough to land in the middle of a hot market, there are going to be setbacks for Agents. Brokers take a chunk of your commission. Lawsuits by unhappy homebuyers who feel you were not completely honest about problems with their new property will eventually claim a share. The Tax Collector will also want his or her cut. That"s the problem with being an Agent. There is always money going out almost as fast as it comes in. This is one job where failing to be able to think on your feet and make good decisions fast will cost you.
For those exceptional individuals who have phenomenal sales skills, some extra cash to throw around and a keen business sense, there is commercial real estate sales. Selling commercial property can mean huge rewards. However, it takes years of preparation under a good mentor and a knack for that sales niche to make it to the big commissions and fabulous property listings. This is definitely not for the newbie.
Selling Real Estate is about getting out there. If you prefer to spend time in front of your computer, try real estate investing. You do not need a license and can make a great deal more money. What you do need is a good knowledge of your local Real Estate market and an ability to close deals that will provide good returns. It"s all about flipping properties and avoiding the rental money pits that sucker in many novice investors.
Before you make a decision to become an agent, talk to licensed agents out in the field. Consider what they say about their earnings, brokers and how friendly or unfriendly the local market is to agents. Many areas simply cannot support the number of Brokers and Agents trying to eke out a living there. In California, for example, it"s said that there are more Real Estate Agents than Lawyers and less than a third of them actually see a profit.
Anyone can pass a test, but not everyone can become a successful agent. If you are money motivated and can wait for the big payday, that helps. The idea is to look at a career in real estate as a long-term investment. It"s not the way to go if you cannot work well with others or function on a team. Any new agent who wants to become a sales superstar has to start by learning the ropes. Most do that by becoming part of an established sales team and playing second fiddle to the best sellers in the office. Like any Commission Sales Career choice, becoming a Real Estate Agent requires careful planning, consideration and proper funding.
For more advice on career, business and personal choices, please visit http://www.BillKnell.com |
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