I’m exhausted with writing about traditional sources for down-payments. My solution: I’ll list the three most bizarre, yet actual, sources of cash I could think of. I’ve actually done two out of the three sources mentioned. Have you tried any of these?
Let’s face it: your real estate investing strategy would be a lot easier to implement if you had some extra cash for a down-payment, renovations, etc. So, below are three ideas to make some substantial cash in a limited amount of time.
(I also recommend reading Ben Leybovich’s AWESOME blog post: 5 Ways to Buy a House with $2,000 or Less )
Make Extra Cash by Selling Novelty Products
I’m not going to get too detailed here because I don’t want to get political (I’m politically agnostic), BUT I’ve actually written an Amazon best-selling book… and its blank inside. I’m not going to reveal how many copies I sold, but I will give you some data for other blank books:
- What Men Know About Women: Millions of copies sold
- Snakes in Hawaii: Over 75,000 sold
- Other blank book bestsellers: Blank Pages Are The Latest Trend In Political Humor from the Huffington Post
Blank books aren’t the point. The point is having a product that is fairly cheap and will make people laugh. As real estate investors, we sometimes get bogged down in the numbers and long-term strategy. I can tell you from first-hand experience that selling a novelty item is extremely freeing. There is no long-term strategy (it’s a gimmick) – it either makes you laugh or it doesn’t. Additionally, there are huge margins in novelty products so you can make a lot of cash in a short-term time frame. Christmas is just around the corner, and millions of dollars will be spent on white elephant gifts. The only question is, will …read more