3 Simple Ways to Get Started in Real Estate Investing

A career in real estate investing offers an opportunity for advancement and, possibly, a source of mostly-passive income. If you are interested in real estate investing, but you aren’t sure where to start, you might want to consider these three simple ways to enter the real estate investing market.

1. Buy a Multi-Family Property

Many large real estate investors, like LA-based Steven Taylor, focus on multi-family properties for their potential to bring large returns. Before you think about buying an apartment building, however, you might want to consider house hacking instead. This is an easy way to get involved in owning a rental property that involves buying a multi-family property and living in one portion while you rent out the remainder. House hacking allows you to take advantage of mortgages rates for primary residences while still earning income from your tenants.

2. Rent Out an Extra Room

If you aren’t sure about diving in and purchasing a multi-family property, start small by renting out an extra bedroom in your current house or apartment. You can even do this if you are currently renting your home, just be sure to check your lease or rental agreement to make sure it doesn’t violate any policies.

Renting a room can be an easy way to earn a little extra money each month while you see if owning rental properties is a good fit for you. Use hosting sites like Airbnb to find renters.

3. Flip a Rundown Property

This may be what most people think of when they hear real estate investing. While companies like Taylor Equities focus on apartment complexes, you might want to start with a single-family home.

The most run-down property on the block is usually a good candidate for flipping. The neighbors will appreciate the renewed look, and everyone’s home values will go up once it is fixed -including yours.

Investing in real estate can provide the right person with a substantial income stream. It does come with its own risks, however, so be sure to seek advice from others who have done it successfully before you jump in.