10 Ways to Let Your Money Work for You
3. Real Estate Rehabbing
Rehabbing property to sell at a profit is another way to make money from real estate. Repairs and improvements to properties take time and money, and investors who are willing to purchase properties that require them can be handsomely rewarded for doing so. They do this by getting problem properties at huge discounts, resolving the problems, and then selling for at or close to full price. This option takes considerable capital since you not only have to pay for properties, but you also have to pay for repairs most of the time. Turning a profit also takes more time than other real estate options, but the profits can be much, much bigger for each deal. If you find the right people to work with, though, you can find partners not only who will find the deals for you but who will also take care of the repairs. In fact, you could even work three-way deals if you find someone who is willing to put some sweat equity into the projects. There is some considerable effort in finding the right people at the outset, but if you choose carefully, this option can be very lucrative.
