With the end of the year quickly approaching, many investors are thinking about where they are going to go on vacation, while others are thinking about earning passive income through real estate.
Earning passive income through real estate investing should be the number one thing that every investor is thinking about right now, especially as 2021 is set to be another up and down year for the stock market.
Some of the things which could affect the stock market in 2021 include the pending eviction crisis, foreclosure crisis, economic insecurity, and the Biden Administration will affect the economy.
Real estate is always an excellent asset to own during times of economic insecurity because property values appreciate and rental properties are always in demand.
If you’ve been thinking about getting started with real estate investing, this article will offer you several tips that you can use for getting started with earning passive income from real estate investing.
How To Earn Passive Income Through Real Estate
Invest In Self-Storage – It doesn’t matter where you live, or how small your community is, self-storage is one of the most popular and profitable ways to earn passive income through real estate.
Self-storage is more popular than ever before because we live in a society where each person has multiple TVs, electronics, and things that they don’t want to get rid of and lack of space, the natural solution is to rent a soft storage unit to store those items.
Depending upon the size of a self-storage facility that you purchase, it’s possible to earn $5,000 to $10,000 per month just from one self-storage facility alone but the key to success is to make sure that you hire someone to manage that property.
Once the property is being professionally managed, you should focus on consistently upgrading your self-storage facility so that you can offer your tenants space to store their RV’s, boats and commercial vehicles.
Invest In Mobile Home Parks – Another great way to earn passive income through real estate investing is by investing in mobile home parks.
Like self-storage units, mobile home parks are available in most cities across the United States and new mobile home parks are being built every year. The typical mobile home park is ideal for renters because they the convenience and flexibility of living in a house, with the amenities and benefits of living in a multi-family community.
Invest In Commercial Properties – Another excellent way to earn passive income from real estate investing is by investing in commercial properties.
Commercial properties can be found everywhere across the United States, especially in rural or urban areas. These properties are also referred to as ‘strip malls’ because they tend to be one long building with multiple units that house tenants.
In 2021, you may be able to find a wide variety of commercial property deals across the United States because there may be a fair share of investors who are looking to sell their commercial properties due to losses that they sustained during covid-19.
Even though there may be some good commercial properties for sale in 2021, always be sure to do your due diligence and thoroughly research the area where the property is located before you decide to purchase.
Invest In Mortgage Notes – Another way to earn passive income from Real Estate is by investing in mortgage notes.
A mortgage note is essentially a contract that pledges the property as security for the money that the homeowner is borrowing. These notes are sold for a wide variety of reasons every year and an investor can build up a profitable portfolio of mortgage notes which generates passive income for them every month.
Invest In Single-Family Units – Over the last 10 years, single-family units have received a lot of attention online, especially on real estate investing television shows where investors fix and flip properties.
Although a single-family home may seem like the ideal rental property, the reality is that vacancies are one of the most common things that hurt investors who own single-family properties because with only one unit, you have to cover your mortgage and other expenses until that property is rented.
Invest In Multifamily Properties – Last of all, but most important, is multifamily properties, what I consider to be the best way to earn passive income from Real Estate.
The great thing about multi-family properties is that there are a wide variety of properties to choose from including duplexes, triplexes, and Condominiums.
Multifamily properties can be found in most cities across the United States and the average renter prefers to live in a multi-family property versus a single-family property because most apartments, condominiums, or other multifamily properties are often closer to downtown than single-family homes.
Renters also like multifamily properties because, depending upon the age and location of the property, the average multi-family property has a variety of amenities and features including on-site laundry, swimming pool, spa, gymnasium, children’s playground, bicycle storage, dog park, and more.
Some of the reasons why you should consider investing in multifamily properties include the fact that they are easier to manage than single-family homes and if one of your units is vacant, your building is still going to continue earning income from the other occupied units until you fill the vacancy.
As I mentioned above, due diligence it’s also important when investing in real estate, especially multifamily properties because you want to know everything about the area where the property is located including the crime rate, job market, and the value of other comparable properties in the area before you take the time to invest in a property there.
Once you invest in your first multifamily property, don’t make the mistake of thinking that you can manage that property yourself, you should hire a property management company right away because this will save you the hassle of property management and help you to start earning passive income from that property from the very beginning.
Contact Trier Capital
If you’re ready to get started with investing in multifamily properties but, syou don’t want to do all the work yourself when it comes to sourcing, acquiring, and managing that property, you should consider partnering with me.
Our simple step-by-step process allows you to accelerate your wealth creation so you can live a magnificent life on your terms, whether that means traveling the world, spending more time with family and friends, or making an impact.
To learn more about our program, or the benefits that come from investing in multifamily properties, contact me today by calling (630) 229-2383 or click here to connect with me online.