Introduction

Money can get a little tighter during a recession. We know that the prices of almost all products are going up while our bets remain the same. Better tighten your belt. It can get much worse We are tempted to hide under the covers, put our thumb in our mouth and not come out.

Life is more than money, but hey, we can get by with money if we have to. One solution is to increase the number of income streams you have. The more current income we have, the better prepared we are to survive a recession. Follow my suggestions and you will have a real estate business running like clockwork.

1. Buy houses to fix

The time to buy real estate is when prices are low and soft, and when interest rates are low. If that sounds like the current situation we find ourselves in, you’re right. Buying superior homes to fix up gives you the added bonus of buying homes at even lower prices and using sweat equity to increase their value. When you’re done, you can either sell your house for a short-term profit (although it may not be as easy to sell it in a recession) or rent it for a long-term profit.

2. Take handyman jobs

Use your top repairman skills to take jobs as a useful man. Once people know that you repair houses to repair, their eyes light up. They think of various jobs around their house that they would like you to do. When it comes up that I repair furniture to fix in a conversation with someone, the conversation usually ends with the other person commenting “oh, by the way, I have this faucet (or toilet, or ceiling) that leaks. I wonder if you could look into that?” “.

3. Turn empty space into money: rent a room

I know, “who wants to have a stranger in their house”. But this can be a friend or a relative. Convert a section of the house into a room for rent. College students are good tenants.

4. Build a separate guest house

If you have room in your yard and city codes allow it. It could be cheaper than buying a new property.

5. Write a book about your experiences in real estate

Your experiences are unique and people buy books that show them how to make money. Write and publish the book yourself, and yes (gasp!), learn how to market it too. Sell ​​it on Amazon.com.

6. Write a Blog.

Tell people about your daily activities in real estate investing and connect your book at the same time. Don’t forget, you are an expert. An expert is just a normal person who has written a book.

7. Give seminars or classes.

Learn about teaching at an “open” community college or university. They are always looking for new teachers. Can’t you speak in front of people? Join Toastmasters and have fun while you learn.

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