Side Hustle??
Are you involved in a side hustle and how far are you into it? When would you jump into it full time leaving your day job? #startups #sidehustle
If spending time is like spending money then how we invest our time should be just as diverse as how we invest our money. I have many irons in many fires for many reasons. It greatly helps with burnout as well as keeping motivation for less-than-challenging work. It keeps you open to fill, trim, and fill your dance card as new opportunities present themselves. Sometimes it’s for the money, and sometimes it’s for the experience of failing at something new, which is ok because you don’t need the money. Sometimes it’s fomo and that’s ok too. To bring it full circle, just like your investment portfolio, keep your goals in mind as you invest more of your time into new side hustles. Don’t forget your WHY. I’ll share something personal with you all. For a long time I was hell-bent on making enough money to retire early so I could spend (and invest) all my time at home with my two kids (5 and 7 at the time). I figured out some things that allowed me to work from home a significant part of my week but I was still in this work-grind mode so even when I was home with them I was ignoring them trying to make that money. One day I wrote this and it’s been on my phones home and lock screen ever since. ———— Don’t work so hard to get tomorrow what you already have today. Don’t spend your days home with the kids all stressed out because you’re trying so hard to work so you can retire and be able to spend your days at home with the kids. You’re already there man. Enjoy it. :-) ————
The worst part of this is that if you spend your time away from your kids when it's most important to be there and create those long lasting bonds, it will be really hard to make up for that lost time once you've made enough to be satisfied. It's self defeating.
Guys this is a previous post i had done about real estate so really a copy and paste of how you can get into real estate as a side hustle. Steps I followed: I started out my career at $65k so not big money by any means... every time I hit about $100k I would buy another property (leverage a loan of course)... i got lucky too b/c of the market crash so houses were undervalued compared to the ROI and I took some big risks buying up 2 properties at live auctions Biggest thing guys is: *Being technical to do home repairs for the basic items for example the toilet leaks, the sink is clogged, garage door doesn’t open.. it you don’t this isn’t for you starting off becuase you will lose money *know how to do remodeling especiallyif looking into foreclosures I spend months rehabbing a place... new floors, ceiling, replaced windows, so a lot of sweat went onto it *know the real estate laws... you don’t want to get sued *don’t be afraid to push back ... it took me years to learn this... if the tenant has clogged the sewer it’s their fault.. i just tell them to get a plumber and pay for the repairs themselves *dont become friends with your tenants... tenants should find you tough but fair... just dont be an asshole *find a mentor or join a local real estate group... almost every metro has one so you learn the ropes *know the market and do the math.. whats your expected revenue minus vacancies, taxes, insurance, repairs, mortgage... if your not positive don’t buy... *stay out of the sketchy areas - you wont be able to collect rent and you don’t want to be shot *set up an llc to cover your ass *i go by a made up name to separate out my personal and work life.. tough at the beginning but you will come to thank me for it Im assuming everyone of you are young... what do you have to lose... if you do you can blame me
Can you give more details about how much you made out of this?
Now granted I live in the midwest so houses are much more affordable here and I invested/purchased during the market crash.. ALSO I GOT VERY LUCKY SO NOT TYPICAL CASE Here’s one example: duplex Purchase: 180k, almost turnkey Downpayment: 100k Initial investment: 5k Current value: $290k Monthly rent: $2500 Principal interest insurance tax: $1,100 monthly Not shown: depreciation and vacancy allowance Hope this helps you and others
Have done contract work on the side in the past. Made some decent coin ($100 or $120/hr with a flexible schedule) but would never leave a FANG or unicorn for it. Also: Make a poll?
How many total hours
About 600. Was a few years back, when I was young and could handle it. Very hard on the mind doing 2 coding jobs.