IDEA 18: Sublet Rental Properties - Make 10,000 Dollars Per Month
You don't need money down to rent out properties. All you need to to is rent a large property from a letting agent and then sublet the rooms to other tenants. Estate agents avoid subletting properties because a lot of work is involved in keeping the rooms vacant. If you're prepared to involve yourself fully in finding tenants for rooms then this is a great way to add value and earn a decent monthly income. Suppose you are able to rent a property for $1000 and sublet it for $1500 you can make $500 profits. If you can do this for 20 properties then you can make 10,000 dollars per month. Finding properties and then subletting them requires time and patience but it can be done.
You can start by finding a rental property which is being rented for cheap. You then need to rent the place out and add valuable services to the property which tenants desire. This could include WIFI and cable. The more services you can add the more tenants will be attracted. If you can then rent the property out for $1500 you create a $500 income stream every month. Find another 19 properties and you can develop a 10,000 dollars per month income stream.
Subletting rental properties is a great way to increase your income stream. Whenever I need to make more money I consider renting properties to single people I trust. So far I have two rental properties which I am renting out which is developing into a nice income stream. If you need more money this is something that's worth considering. Subletting rental properties is another quick money making system you can build into a long term business.