Real Estate Investing in the New Millennium

Three investing opportunities that can create significant income in your first 12 months

By Barry Overton

Real estate is considered one of the most surefire investments to build wealth. However, many potential investors look at buy and hold opportunities as not being fast enough for their purposes. If you’re looking to speed up building your real estate portfolio, but don’t want to start an Airbnb, we have three unique opportunity suggestions that can help you make your very first investment property a cash cow. These three avenues involve making use of various market conditions and capitalizing on them for growth. As long as you plan carefully and have professional support along the way, these opportunity bets can be quite lucrative for those looking to make their first investments in real estate.

Crash Pads

In the flight industry, “crash pads” refer to temporary housing for flight crew members who are based out of a city but do not live there. Flight crews are often required to layover in different cities for extended periods of time, and crash pads provide them with a place to sleep and rest between flights.

Crash pads are usually located close to the airport. As a landlord you can do a long term rental agreement on a single family home, townhome or condo. The cost of a crash pad is usually shared among the flight crew members who use it. The rent is typically lower than what they would pay for a hotel room. Usually $250 to $300 per bed. In most cases a room will have 3 sets of full size bunk beds, so 6 beds per room. A 3-bedroom condominium could potentially generate $4500-$5000 of monthly income. Crash pads are usually furnished with the basic amen- ities needed for a short stay, such as beds, linens, towels, kitchen appliances, and toiletries. The amenities provided can vary depending on the specific crash pad.

Overall, crash pads provide a cost-effective and convenient way for flight crew members to rest and recharge between flights. They allow crew members to avoid the high cost of hotel rooms and provide a sense of community among people who work in the same industry.

House Hacking

House hacking is a popular strategy for real estate investors to generate income as a landlord. Here are some ways to earn money through house hacking:

If you have extra space in your property, such as a basement, or a spare room, you can rent it out to tenants. By doing so, you can offset your mortgage. If you have multiple rooms to rent, this method of renting can result in positive cash flow that exceeds your mortgage payment.

If you purchase a multi-unit property, such as a duplex, triplex, or fourplex, you can live in one unit and rent out the other units. This way, you can generate rental income and reduce your living expenses.

If you have a parking space that you don’t use, you can rent it out to tenants or commuters. This can be a good option if you live in a city where parking is scarce.

Overall, the key to earning money as a landlord in house hacking is to be creative and find ways to maximize the income potential of your property.

Traveling Nurses Lodging

Renting to traveling nurses can be a profitable strategy for landlords, as these professionals often need short-term housing solutions while they are on temporary work assignments, and because the nurses receive a housing stipend, the rental amount is typically significantly higher than normal rental prices.

Many traveling nurses prefer furnished apartments to save on moving costs and to avoid the hassle of furnishing an apartment for a short-term stay. By providing fully furnished units, landlords can attract traveling nurses who are looking for a convenient and comfortable living solution.

Traveling nurses typically need to stay in a location for a few months at a time, so offering flexible lease terms that cater to their needs can be attractive. For instance, offering leases that are three to six months in length can be beneficial.

Providing amenities such as Wi-Fi, cable TV, and parking can attract traveling nurses who are looking for a turnkey living solution. Other amenities like a gym, pool, or laundry facilities can also make your property more desirable.

Reach out to local healthcare providers and hospitals to let them know about your property. These institutions often have traveling nurses on staff and may be able to recommend your property to their staff.

Good customer service can go a long way in attracting and retaining tenants. Make sure that you respond promptly to maintenance requests and are available to address any issues that may arise.

By implementing these strategies, landlords can attract traveling nurses and maximize their earnings potential.

In the new age of how business is done faster with creative ideas, real estate is no different. There are lucrative opportunities for those who that think outside the box. For more details on any of these strategies, feel free to reach out to me. .

Editor’s note: Barry Overton is a licensed Real Estate eXp Realty, LLC. He has been an agent since 2001, and started investing in real estate in 1996. For more information, email: barrysellsdenver@msn Denver Urban Spectrum — www.denverurbanspectrum.com

Don’t feel alone if you have experienced back pain in your life: Four out of five people experience back pain at some point. It is surprisingly the fifth most common reason that people visit the doctor.

Back pain takes many forms, ranging from a persistent dull ache to sudden sharp pain, and it also has many causes. Many people experience back pain because they are sedentary, overweight or have had a history of back problems. It can result from a sprain, fracture, or other accidental injury or from a disease or medical condition, such as spinal stenosis, arthritis or fibromyalgia,

The good news is that most of the time, lower back pain usually gets better within a few days or weeks, and surgery is rarely necessary. Use the following simple self-help strategies to help prevent back pain and stop it from coming back to cause problems in your busy life:

1. Incorporate more exercise in your life. When you have back pain you may assume that you need to rest to make it feel better. In fact, one or two days might help, but any more than that and you could increase your pain. Being physically active could actually help to relive your pain as long as it is