May 21, 2024


Bitcoin & Tech news

How to save for your first big real estate investment?

“Most people don’t or couldn’t invest in real estate due to lack of money. Are you one of the concerned people?”

Are you eager to grab the amazing property unit but lack the funds? It’s obvious you must’ve optimised the spending but let’s be realistic, you can only save so much. The thought of landing a first real estate deal is brewing inside your mind, prompting you to consider wholesaling, flipping or ever borrow the amount. All possibilities included, experts strictly advised against these strategies unless you dedicate 100% to the cause and make it a full-time employment.

Besides the primary job, find yourself a secondary and rather a convenient employment option for a shorter time period that can at least muster up some healthy savings to make the first down payment. There’re lots of options when it comes to finding a hassle-free secondary job but then, why not make it worthwhile that also contributes to a stronger portfolio! So if you wish to experience the charm of gated community living as the first successful real estate deal, read on.

Drive for Lyft or Uber

Perhaps, one of the most obvious and convenient side hustle is driving for Lyft or Uber which involves turning your car into a revenue generation asset. This job asks for the person to have a good insight of the city and a knack to network with the passengers. You’ll surprisingly find a property in Dubai of your interest, meet new members and expand the social circle. Depends on the city where you’d drive, it can earn you more or less $1,000 per month extra.

Rent your car on Turo

Having a personal car but don’t love to drive? Rent yours to a reliable company or service like Turo which turns your car into a semi-passive income generation asset. Turo is considered the Airbnb of cars which works surprisingly well, depends on the car and its condition. By end of each month, you’ll have a certain amount coming into your pocket book for savings.

Airbnb the rooms (only if landlord permits)

Before pursuing for this option, be sure to check out with the landlord. In case you’ve an extra room in your gated community living unit, try renting it out on Airbnb and the result would be in form of monetary savings nearly $1,200 per month or perhaps some more of international guests find your place appealing.

Walk the dogs

Perhaps not a preferred choice even for a side employment but these days, people treat theirs and others dogs more like humans. Look around and you’ll find the pooches neatly wrap in clothes, shoes, a very own car seat and even a café especially for mutts. Walking someone else’s dog for a day or some hours can earn you around $20 per day which when coupled with a month makes a handsome amount. You can easily find dog owners in your residential vicinity.

The bicycle taxi

Have you ever come across people towing a bicycle carrying passenger at the back? Besides a strenuous workout, a means to stay slim and active, the job can make a decent pay to help you earn for real estate investment.

Be a real estate assistant

It’s possible that your dream investment also sparks the idea of managing real estate units. Do you wish learning how the industry works? If so, find internship or even a proper job at a competitive real estate agency which will earn you some decent savings as well as bring forth a preferable unit.

Waiter/bartender during weekends

If you wish to rapidly save money, make your weekend useful working as a waiter or a bartender at a place near to your place. Although you won’t get to expand the social circle, the savings can just work in getting you a real estate unit to invest.

Be a lawnmower or a handyman

If you’re confident in your handyman expertise, list yourself on useful websites and see how your world change all of a sudden. Even mowing the lawn can be a great experience to beef up; both physically and financially.