Don’t limit your income to your W-2 job. Start a side that really works. How do I know these work? Because I’ve done all of them. With more and more people working from home these days starting a side hustle might be easier than it’s ever been. Don’t worry, I won’t tell your boss.
1) Wholesaling Real Estate. What’s so great about wholesaling is it’s an excellent way to get started in real estate investing without having any money. You can literally be living in your parents basement, broke as a joke, eating ramen noodles with no pants on and start wholesaling. Heck, you can be thousands of dollars in credit card debt and start wholesaling real estate. The best part? One deal could erase that debt.
“The money you can make from wholesaling is really more of a full time job hustle that can be done in side hustle hours.” -Me
I don’t know why I just put quotes around something I just typed. I thought it was a cool quote, by me. Might delete. Anyway…
If you do have a little money set aside, you can get started wholesaling faster. The only thing you need money for is marketing. So yes, with paid marketing you will get more leads, faster. But there’s this cool thing called “driving for dollars” where you simply drive around neighborhoods and look for houses that are in rough shape, jot down the addresses and then skip trace them to get phone numbers. That’s right, get your Sherlock Holmes’ side hustle on and track down those potential sellers leads!
2) Start a Blog. In other words, do what I’m doing right now. I know what you are thinking, how am I going to make money starting a blog? (well, maybe you are tech nerd and weren’t thinking that). There are people out there who started blogs, just like this one, and are now making thousands, even hundreds of thousands of dollars every month because of internet traffic. Write interesting content = get high traffic = make money.
I still haven’t answered how. Sorry, got distracted. Basically through affiliate income, ads, selling your own product or service. The bottom line is once you start getting traffic people will start approaching you for money making opportunities. The best part? This side hustle can be done 100% at home. Unless you don’t have internet, then you probably need go to Starbucks.
3) Buy Real Estate and Cash Flow. Hmmm, but don’t I need money to buy Real Estate? True, but there are ways around that. Ever heard of the BRRRR method? You can buy real estate with no money down. However, if you have a little chunk in your savings account and want to start a side hustle that won’t consume your time, go out and buy a rental property. If you buy right you can cash flow that asset for years to come. Don’t let that 20k that’s supposed to be for emergencies only sit in your savings account and collect $8/year interest with .04% APY. Side hustle the sh*t out of that 20k and buy a rental property!
4) Buyer a Camper…and Rent it Out! Or a whole fleet of them. I’m not kidding. A lot people rent campers these days. The camping market is booming with millennial’s valuing travel and life experiences over settling down and buying a house. You can make $2,500 + a month renting out a smallish trailer or $4,000 + renting out a motorhome. I know because I’ve done it. Check out Outdoorsy or RV Share. Outdoorsy just launched a few years ago because of the growing demand. There are also management companies who will do everything for you and you can make about half that.
Very profitable if you already have a camper/trailer/motorhome and want to start up a side hustle. If you don’t own one you can buy a decent used trailer for 10-15k and put it to work. This is especially profitable if you live in a warmer climate and can rent it year round.
5) Sell Something. Well, no sh*t Sherlock. I must be on a Sherlock Holmes kick today. This is one of the more obvious side hustles, so why is it on here? Every one of us has some talent. Whether it’s cooking, writing, painting, woodworking, knitting, golf, story telling, skiing, working on cars, Pokemon, X-men, video games, etc. It doesn’t even have to be a talent. All you need is knowledge of something.
If you are an artist, start up an Etsy account and start selling your art. If you are a woodworker, start building custom furniture and sell it on eBay or Amazon. If you know everything there is to know about Pokemon, then you must be a lot younger than me. Ha! For real though, start a website or blog (#2) and start adding content. If you are an expert on a subject, other people will listen to what you have to say. And you can monetize a blog, remember?
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