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Many mothers want to find ways to bring added income to their families. However, finding time to work full-time in addition to being a full-time mother is impossible. Investing in real estate allows you to generate more income while still having time for your family. Here are a few good ways to get started.
Real Estate Investment Trusts (or REITs) are trusts that allow investors to receive capital from real estate without needing to actually purchase and maintain any properties. This is perfect for busy moms who don’t have the time to be more involved in investing. These investment companies can be great options for beginning real estate investors because investors receive 90% of the company’s overall profits. If you invest in REITs, you have a bigger potential for high-yield dividends and a great opportunity to diversify your real estate investment portfolio. REITs also tend to be a lower-risk option than other methods of real estate investing. In order to begin investing in an REIT, you can invest in a publicly-traded trust by purchasing shares through a broker.
If you don’t want to purchase a remote property to generate income, there are ways you can create added income from your own home. This process is called house hacking. Traditionally, real estate investors purchase a multi-family property and rent out the space they don’t use to other families. If done correctly, these renters will end up paying for your mortgage, and you’ll get free housing and boosted credit from the transaction. Running credit checks before renting out a unit helps avoid bad tenants. If you’re struggling with paying living expenses, this can be a great alternative to other financing options. If you choose to house hack, you’ll be able to use the resources you already possess to create greater financial freedom for you and your family.
Flip and Sell
If you’re truly passionate about real estate, you could try flipping a property. This is a colloquial term for the process of purchasing a run-down property, and renovating it to sell for a much higher price. Individuals have built entire careers around this process, and it’s perfect if renovation and interior design are something that you’re passionate about. Flipping homes is the most creative investment option, but also the most hands-on. If you choose to take this route, you’ll be heavily involved in the buying, renovating, and selling processes.
Real estate investment can be an incredibly high-reward market. It also has a variety of options that can fit your budget and schedule. If you’re a mom looking to make more money for your family and want to get involved in real estate investing, these options could be a great fit for you.
Check out this article on how to plan a sudden and unexpected move!