However, there is one disadvantage to being a real estate professional. You are only as good as your last deal, and our current economy has made those far and few between.
Because of the nature of real estate transactions, the income you earn as a real estate professional is very linear. You list a house, the house sells, and you get paid. You get a mortgage, the mortgage closes, and you get paid. You find a house, fix it up and sell it you get paid. However, if you stop listing houses, stop getting new mortgages or stop fixing and flipping houses you stop getting paid.
Even if you become a landlord, there still is the potential to have to deal with challenges that may come up. The property may require repairs that you have to come out of pocket for. A tenant may decide to stop paying rent and now you have to invest time and money to evict the tenant. The passive income opportunities are really limited.
Why is passive income important for us as women? A passive income stream provides a level of security for us and our children unlike nothing else. Even if our husbands make a lot of money, what happens if our husbands pass away early or gets involved in a tragic accident that leaves him unable to work? You may be single, what if something happens and you are unable to work?
What if changes in the economy and the industry cause the number of real estate transactions to slow down, as were witnessing now? If all of our income is linear, these changes can have a devastating effect on our households and finances.
However, the good news is that there is a very effective passive income system for women real estate professionals. That system is to continue to work your career as a real estate professional on a full time basis, but start a work from home opportunity on a part time basis.
Real estate professionals have some unique circumstances that make it a lot easier to have home business success compared to professionals in other industries. One of the biggest challenges that most women deal with when starting a home business is adjusting to going from a situation where you are making a straight salary to a situation where you now only get paid when you produce. A real estate professional is already use to this in her current career.
Another challenge for many women when starting a home business is finding time to do the business. As a real estate professional, many of the activities that you are already doing in your real estate career, you can do the activities required for success in a home business at the same time. For example, after you finish meeting with a prospective client, you can say "by the way" and mention the product, service or business opportunity you are involved in. If the client decides to do business with you both from a real estate standpoint and for your home business, you have the ability to get paid twice for almost the same amount of work.
A proven work at home business system offers a number of benefits that can complement the benefits you already enjoy as a real estate professional. One of the biggest benefits is the ability to create passive and residual income. Currently, the only way you can create passive income in real estate is to either become a broker or become a landlord.
However, both of those income streams involve some level of work. A broker has to train the agents, provide the office, etc. A landlord has to manage the property (or hire and manage the company that manages the property.)
With a business opportunity, you can recruit business partners that get trained by your company or success team and still enjoy income off their efforts. In addition, because many of these products are consumable or monthly services, you can get paid over and over again for a sale you make one time. That is a true passive income stream that a woman real estate professional can enjoy.
