Many virtual real estate investors start out as conventional real estate investors. Through their networking and promotions, they end up with huge contact lists of email addresses that they may use to find deals, fund deals or move deals. However, sometimes the real estate investing life can get hectic. You may get tired of always tracking down leads, evaluating properties and worrying about whether or not you will get a property flipped on the timeline you want.
Fortunately, there are other ways to make money online as a virtual real estate investor, and if you have a list of contacts, then you are already ahead of the game. Here are three ways that you can make money as a virtual real estate investor without having to invest in real estate:
- Get paid per lead.
If you are really good at finding leads online but simply hate converting them, then consider being a “bird dog” for a while. This is a real estate investor who finds leads that meet other investors’ criteria, then gets paid a fee – it may be as small as 10 dollars or in the thousands – for that lead by another investor. Once the lead is sold, you have your money and the other investor can do as he or she pleases with the information you have provided. You can get back out there and find more leads! - Get paid to teach.
If you have a lot of real estate investing experience, then you can probably find a lot of people online who would like to pay to learn from you. You might set up a mentoring program or even just bring a few people onto your team that you train to find and do deals for you. They can pay you up front or a percentage of their profits in return for their training. - Get paid for your contacts.
If you have a good list of contacts, then other people will actually pay you for that list. Of course, you need to be careful. It is unprofessional and can even be illegal to just start handing out other people’s email addresses. However, you can grant interested parties access to your email list or offer to run promotional campaigns to that list in exchange for a fee or a portion of the resulting profits.
Do you currently use your list of real estate investing contacts to make money in ways other than real estate investing?
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