Dear REA: What are some ideas for creating additional income streams in my business??

Dear Stifled Stephanie…

We hear you, and you’re not alone. Many investors are fearful, and thus raising capital can be more challenging than before. But! That doesn’t mean that there aren’t great opportunities out there, so kudos to you for continuing to find deals and think of creative ways to navigate the current landscape. 

Exploring alternative income sources can be a great way to help fuel your financial goals and support your capital raising efforts. Here are some creative ways to bolster your business’s financial health:

• Create A Course: Share your experience with others by creating and selling online courses. Whether it’s in asset management, underwriting, entrepreneurship, or any other relevant field that you specialize in, offering courses can generate a steady stream of income while establishing your authority in your niche.

  REA Members: Check out our module on how to create your own course.

• Affiliate Marketing: Partner with businesses whose products or services help your investors and complement your capital raising efforts. Think about IRA Custodians, Financial Planners, CPA’s, 1031 Administrators, and similar groups who you can partner with. Promote their offerings to your investor base and earn a commission for every sale generated through your referral.
  
  
• Sponsorship Opportunities: Find other companies or brands that align with your business’s mission and values. Offer them the chance to sponsor your blog or newsletter. In return, provide them with a dedicated space to promote their products or services to your audience. Again, this may help your investors level-up their financial lives.

  REA Members: Take advantage of the done-for-you blog posts or REA Edge services to enhance your thought leadership and attract sponsorship opportunities.

• Consulting Services: Leverage your expertise by offering consulting services to other groups or individuals who need your personalized advice and solutions. What is your superpower when it comes to investing in real estate? Do you excel in mobile home parks, financing, underwriting, marketing, or operations? Think about how you can leverage your strengths for other people. Check out websites like bullpencre.com for potential projects or job opportunities with other commercial real estate professionals.

• E-books and E-guides: Compile your knowledge and experiences into e-books or e-guides. These digital resources can be sold on platforms like Amazon Kindle or through your website, offering additional income streams.

REA Members: Respond to this email for a template e-Book on passive investing that you can use for your own e-book!

These are just a few ideas to get you started. The important thing to remember is that the market is cyclical, meaning that abundant opportunities and capital will come around again, and those businesses that can get resourceful during this time and thus stay afloat are the ones that will reap the rewards when the market stabilizes.

So, we applaud your efforts to think outside the box and venture outside of your comfort zone. We know it’s not easy, and we want you to know that we’re here for you. Through the REA Community, you can form partnerships to increase overall raise capacity and find good opportunities, find introductions to potential affiliates, talk to others who have been in your shoes, and so much more. 

REA Members: Remember that the REA Slack community is a fantastic way to make connections and get ideas on what others are doing to create additional streams of income.

In the current shifting economy, embracing diversification and change is key to maintaining and growing your business. By exploring these alternative income streams, you can not only support your capital raising business, but also remember – adaptability and creativity are your greatest assets on the journey to financial prosperity.

Always in your corner,