Real Estate Investing For Passive Income: Tips And Tricks

Introduction to Real Estate Investing for Passive Income

Real estate investing is a proven strategy for building wealth and generating passive income, offering opportunities that range from residential rentals to commercial properties. For investors seeking a steady stream of income without the need for active management, real estate presents an attractive option. However, success in this field requires a solid understanding of how passive income is generated, a strategic approach to selecting properties, and a long-term commitment to managing and maintaining your investments.

Understanding Passive Income and Its Potential in Real Estate

Passive income refers to earnings generated with minimal effort on the part of the investor. In the context of real estate, this typically involves purchasing properties and renting them out to generate a regular income stream. Unlike active income, which requires continuous effort, passive income allows you to earn money without being directly involved in the day-to-day management of the investment.

The potential for passive income in real estate is significant due to several factors:

1. Recurring Revenue: Rental properties generate regular monthly income from tenants, providing a consistent cash flow.

 

2. Appreciation: Over time, properties often appreciate in value, contributing to the overall return on investment.

 

3. Tax Benefits: Real estate investors can take advantage of various tax deductions, including mortgage interest, property depreciation, and maintenance costs, which can reduce taxable income.

 

4. Leverage: Real estate allows you to use borrowed funds to purchase property, increasing your potential return on investment.

By understanding these elements, investors can appreciate the potential that real estate offers for creating a stable and growing income stream. Check out this article on passive income. ‘What is Passive Income? The Reality’

Overview of How Real Estate Investments Can Generate Steady Income

Real estate investments generate income in several ways, the most common being rental income and property appreciation. Rental income is the most straightforward form of passive income in real estate, where tenants pay rent, and after deducting expenses like mortgage payments, property taxes, and maintenance costs, the remaining amount is your profit.

Property appreciation, on the other hand, is the increase in the property’s value over time. Although appreciation is not guaranteed, it is common in well-located and well-maintained properties. When you sell a property for more than what you paid for it, the profit contributes to your overall return.

Other forms of income can include:

• Lease Options: Some investors opt to lease properties with the option to purchase, receiving both rental income and a potential sale profit.

 

• Short-Term Rentals: Platforms like Airbnb have popularized short-term rentals, which can generate higher income than traditional leases in desirable locations.

 

• Commercial Leasing: Commercial properties can provide higher rental income, particularly if leased to stable, long-term tenants like businesses.

To maintain a steady income, it’s essential to carefully manage properties, keep them occupied with quality tenants, and maintain them to retain their value.

Importance of Having a Strategic Approach to Real Estate Investing

Success in real estate investing is not about luck but about strategic planning and execution. A well-thought-out strategy should guide every decision, from property selection to financing and management. This approach includes:

• Market Research: Understanding the dynamics of the local real estate market is crucial. This involves studying trends, demographics, and economic indicators that affect property values and rental demand.

 

• Investment Goals: Clearly define your investment goals, whether it’s long-term capital appreciation, immediate cash flow, or a combination of both. Your goals will influence the type of properties you invest in and the strategies you use.

 

• Risk Management: Every investment carries risks, and real estate is no different. A strategic approach involves identifying potential risks, such as market downturns, property damage, or tenant defaults, and developing plans to mitigate them.

 

• Diversification: Diversifying your real estate portfolio across different property types and locations can reduce risk and increase the stability of your income.

A strategic approach ensures that your investments are aligned with your financial goals and helps you navigate the complexities of the real estate market.

The Role of Patience and Long-Term Planning in Successful Investments

Real estate is inherently a long-term investment. Unlike stocks or bonds, which can be bought and sold relatively quickly, real estate transactions take time, and property values generally appreciate over several years. Therefore, patience and long-term planning are vital for success.

• Long-Term Growth: Property values and rental income tend to grow over time, making real estate an excellent vehicle for long-term wealth creation. However, short-term fluctuations are common, and it’s essential to stay focused on your long-term objectives.

 

• Compound Returns: Reinvesting profits from your real estate investments, whether through purchasing additional properties or improving existing ones, can lead to compounding returns. This strategy requires patience as the benefits accrue gradually.

 

• Weathering Market Cycles: The real estate market goes through cycles of highs and lows. A long-term perspective allows investors to ride out downturns and capitalize on periods of growth.

 

• Maintenance and Upkeep: Properties require ongoing maintenance to retain their value and appeal to tenants. Regular updates and repairs are part of a long-term plan to ensure that your investment continues to generate income.

In summary, patience and long-term planning are essential to achieving success in real estate investing. By focusing on steady growth rather than quick profits, investors can build a resilient portfolio that generates consistent passive income.

Identifying the Best Real Estate Opportunities

The success of your real estate investments hinges on selecting the right properties. This involves thorough research, understanding the market, and assessing potential returns. The following sections will guide you through the process of identifying the best real estate opportunities.

Researching Markets with Strong Rental Demand

The first step in identifying profitable real estate opportunities is researching markets with strong rental demand. A high demand for rentals ensures that your property will be occupied more consistently, reducing vacancy periods and providing a stable income stream.

To assess rental demand, consider the following factors:

• Population Growth: Areas with growing populations are likely to have increasing demand for housing. Look for regions with a steady influx of new residents, driven by factors such as job opportunities, educational institutions, or quality of life.

 

• Employment Opportunities: Proximity to major employers, business districts, and industrial hubs often correlates with strong rental demand. Properties near these areas tend to attract tenants looking for convenient access to work.

 

• Educational Institutions: Properties near colleges and universities are in high demand, particularly for student housing. These areas often have a consistent flow of potential renters.

 

• Infrastructure Development: Upcoming infrastructure projects, like new transportation links, shopping centers, or recreational facilities, can significantly increase the attractiveness of a location, leading to higher rental demand.

 

• Local Market Trends: Analyze local market trends, including average rental rates, occupancy rates, and new construction projects. High occupancy rates and rising rental prices indicate strong demand.

By focusing on markets with these characteristics, you can increase the likelihood of steady rental income and potential appreciation.

Assessing Property Values and Potential for Appreciation

In addition to rental demand, it’s crucial to assess property values and their potential for appreciation. This involves evaluating the current market value of the property and predicting how much it could increase over time.

• Comparable Sales (Comps): Look at recent sales of similar properties in the same area to gauge the current market value. This provides a benchmark for what you should expect to pay and what the property might sell for in the future.

 

• Historical Price Trends: Review historical data on property prices in the area. Consistent price growth over the years is a good indicator of potential appreciation.

 

• Neighborhood Development: Properties in neighborhoods that are undergoing revitalization or development often appreciate more rapidly. New amenities, improved infrastructure, and rising property values in surrounding areas can contribute to appreciation.

 

• Economic Indicators: Consider the broader economic factors that could affect property values, such as interest rates, inflation, and economic growth. A strong economy typically supports property value appreciation.

 

• Property Condition: The condition of the property itself is also a factor. Well-maintained properties or those with the potential for value-adding improvements (like renovations or upgrades) are more likely to appreciate.

By carefully assessing these factors, you can select properties with the best potential for both income generation and long-term appreciation.

The Significance of Location in Real Estate Investment

The old adage “location, location, location” holds true in real estate investing. The location of a property is perhaps the most critical factor in determining its potential for income and appreciation.

• Proximity to Amenities: Properties close to schools, parks, shopping centers, and public transportation are often more desirable to tenants, leading to higher rental demand and potentially higher rents.

 

• Neighborhood Quality: The quality of the neighborhood, including safety, cleanliness, and community amenities, plays a significant role in a property’s desirability. Higher-quality neighborhoods tend to attract better tenants and higher rents.

 

• Future Development: Areas slated for future development, such as new businesses, residential projects, or infrastructure improvements, often see increased property values and rental demand.

 

• School Districts: Properties in highly-rated school districts are particularly attractive to families, which can drive up demand and allow for higher rental rates.

 

• Market Dynamics: Each location has its own market dynamics, including supply and demand, regulatory environment, and economic conditions. Understanding these dynamics is essential for selecting the right location for your investment.

Selecting properties in prime locations can significantly enhance your investment’s success by ensuring strong demand, higher rental income, and better potential for appreciation.

Utilizing Professional Assessments and Forecasts

While personal research is critical, leveraging professional assessments and forecasts can provide additional insights and help mitigate risks. Professionals such as real estate agents, appraisers, and market analysts have access to data and tools that can aid in evaluating potential investments.

• Real Estate Agents: Experienced agents can provide valuable insights into local markets, trends, and property values. They can also assist in negotiating the best price and terms for your purchase.

 

• Appraisers: A professional appraisal offers an unbiased evaluation of a property’s value based on factors such as location, condition, and comparable sales. This can help ensure you don’t overpay for a property.

 

• Market Analysts: Market analysts provide data-driven forecasts on property values, rental rates, and economic conditions. Their reports can help you make informed decisions about where and when to invest.

 

• Property Inspectors: Before purchasing a property, a thorough inspection by a licensed professional can identify potential issues that could affect the property’s value or require costly repairs.

 

• Financial Advisors: A financial advisor can help you understand the financial implications of your investment, including tax benefits, financing options, and cash flow projections.

By combining your research with professional assessments, you can make more informed decisions and increase the likelihood of a successful investment.

Financing Your Real Estate Investments

Financing is a critical component of real estate investing, directly impacting your potential returns and risks. Understanding the various financing options and strategies available will help you maximize your investment potential while managing risk effectively.

Exploring Mortgage Options for Investors

Mortgages are the most common form of financing for real estate investments. However, the terms and availability of mortgages for investment properties differ from those for primary residences.

• Conventional Loans: These are the most common type of mortgage, typically requiring a down payment of 20-25% for investment properties. Conventional loans offer fixed or adjustable interest rates and terms ranging from 15 to 30 years.

 

• Government-Backed Loans: While government-backed loans (such as FHA or VA loans) are generally designed for primary residences, some investors may qualify for these loans under specific circumstances. These loans often have lower down payment requirements and favorable terms.

 

• Portfolio Loans: Portfolio loans are held by the lender instead of being sold on the secondary market. They often have more flexible terms and can be tailored to investors who may not meet the strict criteria of conventional loans.

 

• Commercial Loans: For larger investments, such as multi-family properties or commercial real estate, commercial loans are available. These loans typically require larger down payments and have shorter terms, but they can finance more significant projects.

 

• Hard Money Loans: These are short-term loans provided by private lenders, often used by investors looking to quickly purchase and flip properties. While hard money loans have higher interest rates and shorter terms, they offer fast approval and funding.

Choosing the right mortgage option depends on your financial situation, investment goals, and the type of property you’re purchasing. It’s essential to compare different options and work with a lender who understands real estate investment.

How Leverage Can Increase Your Return on Investment

Leverage, or using borrowed money to finance a portion of your investment, can significantly increase your return on investment (ROI). By financing a property with a mortgage, you can control a more valuable asset with less of your own money, amplifying your potential returns.

For example, if you purchase a $200,000 property with a 20% down payment ($40,000) and finance the remaining $160,000 with a mortgage, any increase in the property’s value is calculated on the full $200,000, not just your $40,000 investment. If the property’s value increases by 10% ($20,000), your ROI would be 50% on your initial $40,000 investment.

However, leverage also increases risk. If the property’s value decreases or rental income drops, you still owe the mortgage, which can strain your finances. It’s crucial to use leverage wisely, considering both the potential rewards and the risks.

Understanding the Risks and Rewards of Different Financing Strategies

Each financing strategy comes with its own set of risks and rewards. Understanding these will help you choose the most appropriate approach for your investment.

• Fixed-Rate Mortgages: These offer stability with a fixed interest rate and monthly payments over the life of the loan. The reward is predictable costs, but the risk is that you may pay more in interest over time compared to adjustable-rate loans.

 

• Adjustable-Rate Mortgages (ARMs): ARMs start with a lower interest rate that adjusts after a certain period. The initial lower payments can be appealing, but the risk is that rates can increase significantly, raising your monthly payments.

 

• Interest-Only Loans: These allow you to pay only the interest for a set period, lowering initial payments. The reward is improved cash flow in the short term, but the risk is that you won’t build equity during the interest-only period, and payments may jump when principal payments begin.

 

• Balloon Loans: These loans have lower initial payments with a large “balloon” payment due at the end of the term. The reward is lower payments initially, but the risk is the potential difficulty in making or refinancing the balloon payment when it comes due.

 

• Cash Financing: Paying cash for a property eliminates mortgage payments, reducing your financial risk and increasing cash flow. However, the reward is lower returns on invested capital since you’re not leveraging borrowed money.

Each strategy should be chosen based on your financial situation, investment goals, and risk tolerance.

Importance of Creditworthiness and Financial Planning

Your creditworthiness and financial planning play crucial roles in your ability to secure financing and manage your investments effectively.

• Credit Score: A higher credit score improves your chances of securing favorable loan terms, such as lower interest rates and higher loan amounts. Regularly monitor your credit score and take steps to improve it if necessary.

 

• Debt-to-Income Ratio (DTI): Lenders assess your DTI to determine your ability to manage monthly payments. A lower DTI ratio makes you a more attractive borrower, increasing your chances of loan approval.

 

• Financial Reserves: Lenders often require you to have financial reserves, such as savings or other liquid assets, to cover mortgage payments in case of unexpected vacancies or emergencies. Proper financial planning ensures you have these reserves in place.

 

• Investment Budgeting: Budgeting is essential for managing your investment. This includes not only the purchase price and mortgage payments but also property taxes, insurance, maintenance, and property management costs.

 

• Contingency Planning: Plan for potential financial setbacks, such as market downturns, unexpected repairs, or extended vacancies. Having a contingency plan in place helps you navigate challenges without jeopardizing your investment.

Strong credit and careful financial planning are the foundation of successful real estate investing, ensuring you can secure financing, manage your properties, and achieve your investment goals.

Maximizing Returns through Property Management

Effective property management is key to maximizing returns from your real estate investments. Whether you choose to manage properties yourself or hire professionals, the strategies you employ will directly impact your profitability.

Effective Strategies for Managing Rental Properties

Managing rental properties involves a variety of tasks, from tenant screening to maintenance and rent collection. Effective management can enhance tenant satisfaction, reduce vacancies, and increase your overall return on investment.

• Tenant Screening: Thoroughly screen tenants to ensure they have a history of paying rent on time and taking care of properties. A good tenant reduces the risk of late payments, property damage, and eviction costs.

 

• Lease Agreements: Use detailed lease agreements that clearly outline the responsibilities of both the landlord and tenant. This can prevent misunderstandings and disputes.

 

• Rent Collection: Implement a reliable system for collecting rent, whether through online payment platforms, direct deposit, or other methods. Consistent rent collection is essential for maintaining cash flow.

 

• Regular Inspections: Conduct regular property inspections to identify and address maintenance issues before they become major problems. This helps maintain the property’s value and reduces long-term repair costs.

 

• Responsive Maintenance: Promptly address maintenance requests to keep tenants satisfied and prevent small issues from escalating. Happy tenants are more likely to renew their leases, reducing turnover and vacancy costs.

 

• Market-Appropriate Rents: Regularly review market rents to ensure you’re charging a competitive rate. Underpricing can leave money on the table, while overpricing can lead to longer vacancies.

Effective management requires organization, communication, and a proactive approach to addressing issues.

The Impact of Tenant Satisfaction on Your Revenue Stream

Tenant satisfaction is crucial for maintaining a steady revenue stream. Satisfied tenants are more likely to pay rent on time, take care of the property, and renew their leases, reducing turnover and vacancy rates.

• Communication: Maintain open and respectful communication with tenants. Address their concerns promptly and professionally to build trust and satisfaction.

 

• Quality of Living: Ensure that the property is well-maintained, clean, and safe. Upgrades to appliances, fixtures, and amenities can enhance tenant satisfaction and justify higher rents.

 

• Community Engagement: Foster a sense of community among tenants by organizing events or creating shared spaces. This can increase tenant retention and create a positive living environment.

 

• Responsive Management: Be responsive to tenant needs and requests. Quick resolution of issues, whether maintenance or administrative, contributes to a positive tenant experience.

 

• Lease Renewals: Offer incentives for lease renewals, such as small rent discounts or property upgrades. This can encourage tenants to stay longer, reducing turnover costs.

Tenant satisfaction directly impacts your bottom line by reducing vacancies, lowering turnover costs, and potentially allowing for higher rents.

Delegating to Property Managers vs. DIY Management

Deciding whether to manage your properties yourself or hire a property manager is a significant decision that depends on your time, experience, and investment goals.

• DIY Management: Managing properties yourself gives you complete control over all aspects of the investment. It can also save you the cost of hiring a property manager, which typically ranges from 8-12% of the monthly rent. However, DIY management requires time, effort, and knowledge of landlord-tenant laws, property maintenance, and effective tenant management.

 

• Property Managers: Hiring a property manager can save time and reduce stress, especially if you own multiple properties or live far from your investment. Property managers handle everything from tenant screening to maintenance, rent collection, and legal issues. While this reduces your workload, it also comes with a cost that will eat into your profits.

 

• Hybrid Approach: Some investors opt for a hybrid approach, handling certain tasks themselves, like tenant communication or rent collection, while outsourcing others, like maintenance or leasing. This approach allows for flexibility and cost savings while still benefiting from professional support.

The choice between DIY management and hiring a property manager depends on your personal circumstances, skills, and the scale of your real estate portfolio.

Cost-Efficient Maintenance and Improvement Tips

Keeping maintenance and improvement costs under control is essential for maximizing your investment returns. Cost-efficient strategies can help you maintain the property’s value without overspending.

• Preventive Maintenance: Regularly schedule preventive maintenance to catch issues early. This includes tasks like HVAC servicing, roof inspections, and plumbing checks, which can prevent costly repairs down the line.

 

• Energy Efficiency Upgrades: Invest in energy-efficient upgrades, such as LED lighting, low-flow fixtures, and better insulation. These improvements can reduce utility costs for both you and your tenants, making the property more attractive.

 

• DIY vs. Professional Services: Assess which maintenance tasks you can handle yourself and which require professional services. While DIY can save money, some jobs, particularly those involving plumbing, electrical work, or structural repairs, are best left to professionals to avoid costly mistakes.

 

• Budgeting for Repairs: Set aside a portion of rental income for ongoing maintenance and repairs. A good rule of thumb is to allocate 1-2% of the property’s value annually for maintenance.

 

• Value-Adding Improvements: Focus on improvements that add value to the property, such as kitchen upgrades, bathroom renovations, or adding curb appeal. These can increase rental income and property value, providing a good return on investment.

 

• Bulk Purchasing: If you own multiple properties, consider purchasing maintenance supplies in bulk. This can save money on materials and ensure you have necessary items on hand for quick repairs.

Efficient maintenance and strategic improvements help preserve the property’s value, attract and retain tenants, and maximize your investment returns.

Navigating Challenges and Mitigating Risks

Real estate investing comes with its share of challenges and risks. Being prepared for these and having strategies in place to navigate them is crucial for maintaining your income and protecting your investment.

Anticipating Common Issues in Real Estate Investment

Real estate investing is not without its challenges. Being aware of common issues can help you prepare and respond effectively.

• Vacancies: Extended vacancies can significantly impact your cash flow. To mitigate this risk, ensure your property is well-maintained, competitively priced, and effectively marketed.

 

• Tenant Issues: Problematic tenants, such as those who consistently pay late, damage the property, or violate lease terms, can be costly. Thorough tenant screening and clear lease agreements can reduce the likelihood of these issues.

 

• Market Fluctuations: The real estate market is cyclical, and downturns can lead to decreased property values and rental income. Diversifying your investments and maintaining a long-term perspective can help you weather these fluctuations.

 

• Maintenance Emergencies: Unexpected maintenance issues, like plumbing leaks or HVAC failures, can be expensive. Having a reserve fund and a reliable network of contractors is essential for addressing emergencies promptly.

 

• Regulatory Changes: Changes in local regulations, such as rent control laws or zoning changes, can affect your investment. Staying informed about local policies and engaging with industry associations can help you anticipate and adapt to these changes.

By anticipating these challenges, you can develop strategies to minimize their impact on your investment.

Implementing Risk Management Strategies to Protect Your Income

Effective risk management is essential for protecting your income and ensuring the long-term success of your real estate investments.

• Insurance: Ensure you have adequate insurance coverage, including property insurance, liability insurance, and loss of income insurance. These policies protect you against damage, lawsuits, and loss of rental income due to covered events.

 

• Tenant Screening: Thoroughly screen tenants to reduce the risk of non-payment, property damage, or legal disputes. A well-screened tenant is more likely to pay rent on time and take care of the property.

 

• Lease Clauses: Include clear clauses in your lease agreements that outline tenant responsibilities, such as maintenance obligations, pet policies, and penalties for late payments. This reduces the potential for disputes.

 

• Reserve Funds: Maintain a reserve fund to cover unexpected expenses, such as emergency repairs, legal fees, or periods of vacancy. This financial cushion helps you manage unforeseen challenges without compromising your cash flow.

 

• Diversification: Diversify your real estate portfolio by investing in different property types or locations. This reduces your exposure to market-specific risks and increases the stability of your income.

 

• Regular Inspections: Conduct regular property inspections to identify and address potential issues before they become significant problems. This proactive approach helps maintain the property’s condition and value.

Risk management is an ongoing process that requires vigilance and a proactive approach to protect your investment.

Adapting to Market Changes and Economic Fluctuations

The real estate market is influenced by broader economic conditions, including interest rates, inflation, and economic growth. Adapting to these changes is essential for maintaining your investment’s profitability.

• Interest Rate Changes: Rising interest rates can increase the cost of borrowing and reduce the affordability of homes, potentially lowering demand. To adapt, consider locking in fixed-rate mortgages or refinancing existing loans at lower rates.

 

• Inflation: Inflation can erode the purchasing power of rental income and increase operating costs. However, real estate often appreciates in value during inflationary periods, and rents can be adjusted to keep pace with inflation. Consider incorporating inflation clauses in lease agreements to protect your income.

 

• Economic Downturns: During economic downturns, demand for rental properties may decrease, leading to lower rents or higher vacancy rates. In such cases, focus on maintaining high occupancy through competitive pricing and excellent tenant relations. Diversifying your portfolio can also provide a buffer against localized economic challenges.

 

• Technological Advancements: The real estate industry is continually evolving with technological advancements, such as smart home features, online property management tools, and digital marketing strategies. Staying up-to-date with these innovations can help you remain competitive and attract quality tenants.

 

• Regulatory Changes: Changes in housing laws, tax policies, or zoning regulations can impact your investment. Staying informed and engaging with local government and industry groups can help you anticipate and adapt to these changes.

Flexibility and the ability to adapt to changing market conditions are crucial for long-term success in real estate investing.

Legal Considerations to Keep in Mind as a Real Estate Investor

Navigating the legal landscape is an integral part of real estate investing. Understanding and complying with relevant laws and regulations can help you avoid legal pitfalls and protect your investment.

• Landlord-Tenant Laws: Familiarize yourself with local landlord-tenant laws, which govern issues such as lease agreements, security deposits, eviction procedures, and tenant rights. Non-compliance can result in legal disputes and financial penalties.

 

• Fair Housing Laws: Ensure that your tenant screening and marketing practices comply with fair housing laws, which prohibit discrimination based on race, color, religion, sex, national origin, familial status, or disability.

 

• Zoning Laws: Zoning laws regulate how properties can be used and developed. Ensure that your property complies with local zoning regulations, especially if you plan to make changes or convert the property’s use.

 

• Environmental Regulations: Be aware of environmental regulations that may affect your property, such as those related to lead paint, asbestos, or water quality. Compliance is essential to avoid fines and legal liabilities.

 

• Tax Implications: Real estate investments come with various tax implications, including property taxes, capital gains taxes, and depreciation deductions. Consulting with a tax professional can help you optimize your tax strategy and avoid potential issues.

 

• Eviction Procedures: If you need to evict a tenant, it’s essential to follow the legal eviction process precisely. Improperly handled evictions can result in legal challenges and delays.

By understanding and adhering to legal requirements, you can minimize the risk of legal issues and protect your investment.

Conclusion

Real estate investing offers a unique opportunity to generate passive income and build long-term wealth. By understanding the fundamentals of passive income, identifying the best investment opportunities, securing appropriate financing, and effectively managing your properties, you can maximize your returns and achieve financial independence.

However, success in real estate investing requires more than just buying properties. It demands a strategic approach, ongoing risk management, and the ability to adapt to changing market conditions. With patience, careful planning, and the right strategies, you can navigate the challenges of real estate investing and build a portfolio that provides steady, reliable income for years to come.

Do you use real estate for passive income? Let us know how it’s working for you in the comments.

All the best

Tony

Don’t have the funds to start investing in Real Estate? Want to start a side hustle and earn some extra cash? Maybe you want to sack your boss and have your own online business. If that’s the case then you need to join Wealthy Affiliate. Click the banner below and get started TODAY!

I am an affiliate for Wealthy Affiliate. If you purchase a membership through my link I will make a small commission at no extra cost to you. Read my review of Wealthy Affiliate here.