Everybody I talk to wants to know how quickly a person can really make money in real estate. So, I’m going to shoot straight with ya. The longer you wait to get started, the longer it is going to take for you to make money in real estate.
I know; it sounds like a cop out. But, seriously, y’all. If you wait another ten years to even buy your first property, then tack that time onto how long it will take to make money!
So, before you can even get honest about this question, you first need to be ready to take the steps to just START. Otherwise, it is an irrelevant question.
Now, assuming you are actually ready to take action and get started, I have an answer for you. Let’s go.
How Long Does It REALLY Take to Make Money in Real Estate
Y’all know how much I love investing in real estate, especially when it comes to building passive income. I think that it is the best way to create financial freedom and live the life that you were born to live.
However, there is a learning curve when it comes to making money in real estate. Specifically, it takes time to build the kind of money that is life changing passive income.
But, you have to start somewhere. I suggest just starting where you are.
The truth is that you can start making passive income as soon as next month! But, it ultimately depends on you and what you are willing to do to make it happen.
Now, I have bought a house on a Friday morning, had people look at the house on Friday afternoon, got a contract signed by Monday afternoon, and had them moved in by Monday night. Between Friday and Monday, I made $5,000 (from my lease option fee) and then $150 monthly rent. Obviously, this was INSANELY fast.
Can it be done? Absolutely! But, I had a year or so of experience under my belt so I did not have as much of a learning curve as when I was just getting started.
That $150 monthly rent is my passive income, which might not sound like a lot, but imagine repeating this process again and again.
Each property adds up and over time that money becomes something that can replace your job.
In addition, I would argue that the $5,000 option fee I got was also passive income. I did not have to work 40 hours to earn that. Instead, I barely worked a few hours! There was no clocking in and clocking out. Just a few conversations, showing a house, and signing some papers. DONE!
So, it is really simple to make money in real estate. The difference between the amount you have to pay out each month for the property and what you have coming in for rent is your passive income. Wash, rinse, and repeat.
While you can make money in real estate in one weekend, most of the time you can expect to achieve that goal over 30 days. My passive income as a lady landlord comes from my 13 houses, a bunch of land, and 19 apartment units. While I might not look like a landlord, I love to help others achieve this lifestyle, too! It is great to be a lady in this business and help women to leave something besides debt to their kids.
This is why I love real estate. It’s the best.
Anyway, when it comes to my properties, I know that $150 does not sound like much. Usually, I make about $500 monthly passive income per property. Sometimes a little less, like this property. Other times only about $300, but on average my goal is $500 per property per month.
So, if I have 13 houses, let’s say they each average $300 per month. When you add them all together, that is $3600 in passive income without going to another job! And, I have my apartment complex, one with 11 units. We get between $500-$550 per month rent for each unit, which means a total of about $5000-$6000 each month. My expenses are about $1800, so that’s more than $3000 in my pocket! With all of it combined, that’s more than $5000 a month in passive income.
Sure, $150 a month does not sound exciting, but if you keep going and get another house and another house, the money snowballs. I’m not going to fluff your skirt and tell you lies, like this is going to all happen overnight. It isn’t.
But, if you are serious about doing the work and repeating the process, you can definitely build whatever monthly income you want!
There is nothing stopping you. If you really want to make money in real estate, you can!
I talk to a lot of ladies who are desperate to make $5000 a month in passive income. And we are not even talking about the non-refundable option fees! That’s even MORE money. This is real money, ladies.
But, you gotta start. Like I said in the beginning, how long it takes is really up to you. If you wait to get started investing in real estate, then all you are doing is making it take even longer for yourself. One gentleman in FDDF got a contract on a house, subject to with creative financing, and is going to be earning an extra $700 each month for this property. He needs to pay about just under $1000 a month, but rent in the neighborhood is right around $1650. The deal took him about 12 weeks to situate, but now he’ll have that money coming in for as long as he keeps the property.
So, yes, you absolutely can make money in real estate in three months, six months, a weekend, or a year. But, the longer you wait, the longer it is going to take. Don’t wait to get started! The time is always right to take the first step.