10 Ways to Let Your Money Work for You

BySean McConeghy
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Condo Colors

Photo by Keoni Cabral

1. Rental Real Estate

Rental real estate is the classic way to have your money work for you. You may choose either to make a down payment on a property and have your tenants pay the mortgage, or pay for it in full so that you own it outright, which can mean some better deals. Doing this on your own takes time, but there are plenty of people willing to find the deals for you in exchange for a share of the profits, either in the form of a finder’s fee or portion of the rent. There is an investment of time in finding the right person or people to work with, but once you do, you can make some fantastic profits. If managing the property is a challenge, find a good property manager and factor that cost into your deals.

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