5 Side Hustles to Help Sustain Newbie Real Estate Wholesalers

by | BiggerPockets.com

There are a lot of wholesalers out there with full-time jobs who want to quit but need extra money to stay afloat while investing in real estate.

Well, today, let’s explore five side hustles that will allow you to generate income while investing in real estate.

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5 Side Hustles to Help Sustain Newbie Real Estate Wholesalers

1. Become a real estate agent.

Now sometimes people say negative things about becoming a licensed real estate agent, but I honestly think it’s a great idea because you can make commissions on the side while helping friends and family buy and sell properties. You can also buy and sell houses yourself and earn a commission.

Plus, getting your real estate license is one of the best things you can do for your wholesaling business because it gives you credibility. Motivated sellers will trust you more—and plus, it gives you access to the MLS.

Related: 5 Tried & True Ways to Land Deals as a Wholesaling Newbie

It’s just a great way to make extra income within the real estate industry!

wholesaling-newbie

2. Work for an established real estate investing company.

Now, this is something I actually did. I was paid 100 percent commission for a land development company, and I was tasked with finding large pieces of land. I also worked for a wholesaling company where I would help sell their houses for a flat fee.

I did that for about a year and a half, and it really helped me gain confidence in real estate investing. At one point, I was actually making more money on the side than I was making in my wholesaling business, so I decided to work full-time for the other real estate investing companies for a while.

Guys, there’s absolutely no shame in working for another real estate investing company. Plus, it allows you to get your feet wet before jumping into it head on.

I know a few individuals who aspire to wholesale real estate full-time, and many of them work for my company for 2 to 3 years and learn everything before going out on their own.

3. Try out freelancing work.

There are so many websites out there that hire freelancers for work. The most popular sites are Fiverr and Upwork, and you simply offer whatever your skill you have, whether that’s writing or editing articles, editing podcasts, designing logos or websites, doing work as a virtual assistant, etc.

You simply express interest in the job listed, and if you’re selected, they’ll pay you on a project-by-project basis. This is a really cool way to develop a side income because it’s practically automated on Upwork, and you literally just click, submit applications, and eventually, if you submit enough applications, someone will contact you for a gig.

You can also freelance as a bird dog, where you find deals for other wholesaling companies and charge a fee.

4. Create your own schedule and work independently.

There are tons of independent companies out there where you can create your own schedule.

For example, practically anyone can apply and drive for Uber. There’s also Lyft, DoorDash, TaskRabbit and many other independent companies out there depending on your area.

Technology has made it so easy for anyone to become entrepreneurs and work for themselves these days. You don’t have to go to stressful job interviews at large corporations wondering if you’re going to get picked over the other hundreds of applicants.

Related: 3 Feasible Ways to Start in Real Estate Wholesaling as a Complete Newbie

For about eight months, one of my colleague’s primary source of income was Uber. Now, it depends on your market, but if you’re near a large city, you can actually make a good $200 to $1,000 a week.

It’s pretty awesome!

5. Get a part-time job.

I listen to Dave Ramsey’s show quite a bit, and he talks a lot about hustling by getting a part-time job.

Now, there’s always the rags to riches story of, “I just quit my 9-to-5 job and pursued real estate investing, and I did 125,000 units a year!” and that’s great, but many people out there simply have to hustle and get a part-time job to take care of their family.

Conclusion

These are just few ways you can make an extra income while you’re getting your real estate investment business off the ground!

Question: Do you have a side hustle?

Share below in the comments section!

About Author

Brett Snodgrass

Brett Snodgrass is a licensed real estate broker and wholesaler who hails from the Indianapolis metro. His mission in life is to glorify God by serving as many people as he can through his real estate business. He has a pretty active community growing on Facebook and is also the founder of SimpleWholesaling.com Come check it out now and connect!

7 Comments

  1. Erik Whiting

    I’m glad you took the time to post this as a resource to get newbies thinking about the fact that, even if successful, it usually takes at least 6-12 months to get a real estate business off the ground. I’d say the same is true with agents, so perhaps becoming a licensed agent won’t help that much because it takes several months to get your “pipeline” full of deals to where you start getting checks.

    Careful of Uber. Yeah, you can make some money, but my experience with being the rider is the pay is relatively low but the driver must own a relatively newer car, which can make cost of services relatively high. Unless you raking in good tips and/or only doing short drives…the cost of doing Uber may make it too expensive to make a good net return in the long run. An alternative is consider your own “concierge” service running errands for busy professionals and/or taking elderly folks to appointments, grocery shopping for them, etc. Then you can drive a 10-year-old hoopty and no one cares so long as it goes from A to B. Print up some basic business cards to hand out at church, local clubs, golf courses, etc.

    Freelancing is good, so long as you have a talent people will pay for. Probably best done in the evening/night when you’re not out scouting deals. I’ve never been a night owl when scoping deals: I like to see my real estate during the day light. One of my talents is music, and I used to teach music lessons. Also tutoring in middle school/high school subjects.

    Subbing for teachers isn’t too bad where I live either. Pay is about $80/day and your shift is 8:30 – 2:30 with an hour off for the planning period (which you don’t have to do any planning since you’re not the teacher) and a half hour for lunch. Good time to make day-time contacts / scout deals! Work as many or as few days as desired.

    Dave Ramsey fan here, too! Thanks for the shout-out to Master Dave.

  2. yonah weiss

    I would add to your list, to get a part-time property management job. It usually doesn’t require much time. Adds a little cash to your pocket. But more importantly, gets you involved in RE, one of the basics, without investing any capital.

  3. Cristine French on

    Good tips! Best side hustle I have found in years is referral partner on Pabius. You add people you meet who needs property insurance or any kind of insurance like homeowners or auto policies and they pay you monthly for adding them.

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