3 Investments for Work-Life Balance
Many people strive for better work-life balance, which is, among other things, the ability to keep work separate from other responsibilities and from leisure time. There are several financial moves that you can make to increase your opportunities to have a healthy balance of work, friends, family, and time for yourself. Here are three investments to complete to earn money and maintain your work-life balance.
- Commercial Real Estate
Owning and managing commercial real estate comes with many benefits compatible with maintaining a good work-life balance. One of these benefits is that commercial properties usually operate within limited hours. Tenants will likely only ever need assistance during standard business hours, aside from the unlikely event of a break-in or other emergency. Another reason is that the tenants of commercial real estate properties are the business owners and have a stake in keeping the property in good condition, saving you time and money in terms of repairs. Investing in real estate can be risky and require a hefty up-front cost, but purchasing commercial real estate might be a good option if you are business-minded and seek more work-life balance.
- Vacation Properties
Unlike commercial real estate, you can pick and choose when to rent out a vacation property, making this a good option for earning some extra money while maintaining a work-life balance. Suppose you own vacation properties in a seasonal location such as a beach town. In that case, you can rent the property out during the busy time, when you will earn a much higher profit margin, and keep the properties closed or live in one yourself during the off-season. Managing vacation properties can be a lot of work if you do not hire people to help you, but this work is mitigated by the fact that you can sometimes take a few months off from renting out properties without losing too much overall profit.
- Fix and Flip Real Estate
Fix and flip real estate investments involve purchasing a property that needs maintenance or renovations, making those repairs, and selling the property for a profit. One benefit of these investments is that you can earn a substantial profit in a relatively short amount of time. Especially if you have help, fixing the property to a more suitable state can be a quick process, leaving you with time to engage in other activities.
Consider one of these investments if you are looking to earn money while maintaining a healthy work-life balance.