What's the Best Home-Based Business to Generate REI Seed Money?

A great strategy for generating "seed money" to start your real estate investing career is through a side-business such as picking/consigning, or a part-time job. It's also fantastic for the spouse/family of an investor that wants to contribute to the team effort, but doesn't want to deal with "tenants and toilets" 

Unfortunately, many of my clients discover that nothing is ever quick and easy, as promised!

So if you need to generate your first couple $1,000 to start marketing or learning, what work-from-home or part time business should you start?

The one you're actually going to work!

Now before we get into it.... let me just qualify here, I'm not generally talking about network marketing.  If you're going to drop $6-10K on a business, may I suggest drop that on a cheap house in Baltimore and learn about rehabs through experience (smile).

Sure, I've got a handful of clients who do really well with makeup, essential oils, you name it, but contrary to what most people are posting on facebook right now, FEW of my clients make sustained income - and by that I mean filed on Schedule C of their tax return - with network marketing as they might make it sound.**

That's why I love real estate!  It's a path for all of us to achieve the American dream of financial independence!

So why would I write about a home-based business on a website for real estate investors?  Well, quite simply: cashflow opens up doors.  When your kids are fed and your bills are paid, you are less likely to take on super risky deals "hoping against hope."  When you have money to market with, you're more likely to actually listen to that experienced investor who is explaining how marketing is key.  And as your friendly financial planner, I'd love for you to cash-flow your marketing and other expenses rather than digging such a deep hole that your first deal isn't enough.  

Not only that but let's be real here: some of you reading this aren't in real estate because you love the challenge, the wealth building, and the way you can get paid to help change people's lives in this field.  For you, real estate is a necessary evil, a means to an end, and I don't want you to get burned chasing cents and missing dollars.

So here are my recommendations:

1.  Recognize it doesn't matter what business, system, or networking group you buy into unless you commit to taking ACTION

1.  The best way to generate seed money is to spend less than what you make 

2.  And then invest the difference.

Seriously. That's it.  

Invest the difference in funding your real estate marketing, your education, membership at REIAs, in wholesale deals, flips, rehabs and as your financial strength grows so will your portfolio.  

Can't spend any less?  Think again!  Most of my clients save between $300-1,000 a month just off of our first financial planning session alone.  I can help you align your budget with your priorities and develop a spend plan that works for YOU and gives YOU freedom to pursue your real estate dreams!

Many of us here here on this website because we've tightened our belt so much that it feels like a tourniquet! If you can't cut your expenses, then keep reading for business suggestions

If you're looking for something 100% free you can do a program like Amazon Affiliates and earn up to a couple thousand a month. A true affiliate program is free. If you're in the Ark-La-Tex I will be conducting a class on this in the near future. I have a recording of the last class available on my website https://squareup.com/market/hand-ups-not-hand-outs-llc/

Other ideas, which are even better because they directly contribute to your REI education are: working part time for an experienced investor or a local REIA, part time work in a real-estate related field, or training for a non-regulated ancillary service (for example, some states do not require home inspectors to be licensed... guess how I learned that...I'll spare you my sob story).

Finally, I have several $500 courses that I did a "free version" in the Free-To-Fly Conference in support survivors of domestic violence. They're pared down, but still give you what you need to launch something workable in 20-30 minutes a day that can bring in cash-flow for your investing. There would still be plenty of time left in the day for you to learn and experience Real Estate Investing.  There's one on 12 ways to work from home, another on business finance, and the best one was on how to take YOUR passions and turn them into a profitable business. You can find all those videos, and more, here:

https://www.youtube.com/channel/UCPBoBJz2_TU7hxoBBxYi4NA

**If you're the exception please don't be mad but most of my clients got into worse debt trying to make network marketing succeed than were actually successful. If you want to know what companies my clients have been successful with, reach out. You'll be surprised!