You don't really make money until you make money while sleeping. There are good investments out there, but the best that can make you money in your sleep is real estate. Today, we would be looking at how to make money while sleeping but first, what is real estate?
Real estate can be defined as a land along with any permanent improvement attached to the land, whether natural or man-made including water, trees, minerals, buildings, homes etc.
There are many ways you can make money owing real estate but we will discuss a few below:
• house hacking: this involves you renting out portions of your primary residence to generate income. For example you live in a 2 bedroom apartment. You can rent out a room to generate extra income.
• house flipping can be described as the process of buying, rehabbing and selling properties for profit.
• land: You can rent out your land or sell it after it has appreciated.
•Owning houses on a long term basis: owning commercial, residential or industrial buildings are some of the best forms of real estate because you can rent them out and as the year go by you can increase your rent.
These are some of the ways you can make money owing real estate. Select one that suits your personality and generate extra income. Have a nice weekend.