Personal battles like divorce, financial problems, and pre-foreclosures can drastically affect homeownership, but real estate expert Noelle Randall used these challenges as opportunities to acquire properties with equity and without using banks. Her personal journey led her to share her expertise with those looking into real estate’s potential as a passive investment. For starters, the industry can be intimidating and confusing. How does one start? Is it sustainable? What are the options?
These are just some of the questions in the minds of those who want to venture into real estate. According to Randall, there are three ways to build a real estate portfolio that generates passive income effectively:
1. Purchase and lease
Having properties rented out is the most convenient way to earn from real estate, especially if investors would look into other key benefits like location and accessibility. Tourism and travel are also key insights to look into so investors can utilize platforms like Airbnb and other rental channels.
2. Flipping properties
Alternatively, investors can also take advantage of flipping properties or the process of buying a property, making minor improvements, and reselling it for a profit. This approach involves a little more effort but can be more cost-efficient as these properties are bought at a lesser market value.
3. Investing in real estate crowdfunding platforms
These platforms have multiple benefits for real estate investors, especially when building capital to support future investments. It enables pool funding and allows different investments in various properties. In addition, the platform will handle property maintenance which guarantees the opportunity to earn passive income with minimal effort.
Real estate expert Noelle Randall was also able to complete a real estate crowdfund with her company, NuuRez, Inc.
Getting That Edge when Investing in Real Estate
Despite the options, developing skills related to portfolio management is also crucial. For example, diversifying real estate portfolios mitigates risks associated with owning any one type of asset. Enhancing people skills is also crucial because interacting with others is a significant aspect of real estate investing. Lastly, investors should be able to spot and evaluate market opportunities and should also learn financial skills so that the investment can become sustainable and profitable.
Investing in knowledge leads to becoming a successful real estate investor, and mentors like Noelle Randall are excellent resources. Randall is a successful entrepreneur who began with nothing following the 2008 financial crisis and developed her fortune with her extensive real estate experience. Through her books, workshops, and YouTube channel, the Two Comma Club award winner shares her wisdom with budding entrepreneurs looking to build wealth and financial freedom.
People who want to start their real estate portfolio with AirBnB are invited to participate in Randall’s AirBNB Business course at BNBRiches.com (use code: SAVE50 to save 50%). You can also get her book on managing an AirBNB real estate business for free at NoellesBNBSecrets.com.
For more information on Noelle Randall’s courses and coaching services, visit her official website: www.NoelleRandall.com.