It is it just me or is everyone really getting into the side hustle game lately? I actually think I am late to the game for learning about side hustling. For those of you who don’t know what a side hustle is, it’s basically just a way to make extra cash that differs from your main source of income. I honestly love the idea of side hustling. Entrepreneurs, go-getters and people with a lot of drive seem to be the one’s side hustling. Now that sounds a lot like me and its about time I get in the game.
My sources of income are currently my day job income, rental property income and the very little blog income I make from Cash Flow Diaries. The blog and rentals are technically side hustles but they have become such an integral part of my life that I don’t really consider them side hustles. I have mentioned in earlier posts that this year will be challenging for my finances because I have a wedding and a honeymoon that I will need to contribute funds to. I still don’t know exactly how I much I am going to have to fork over for this but it concerns me in that it will prevent me from growing my rental property empire at the fast pace I have had so far. If you did not read my last post, you will want to make sure to read it as it has been a big hit for me. The article was on How I Purchase Four Rental Properties in Ten Months and the engagement I have received from that post has been tremendous.
So with that being said, in order to keep up with this growth and at this fast of a pace, I need to be making more money. That is the bottom line, I need more money so that I can afford more rental properties. The cash I need is to pay the 25% down payments that I am having to pay on my new rental acquisitions. How will I earn more money this year? That is the key question and the only answer to that is to side hustle!! I have spent numerous hours reading up on various side hustles and all kinds of ways to earn additional income. Nick Loper has a blog dedicated to just side hustling which is great called Side Hustle Nation. J Money over at Budgets Are Sexy has a whole page with over 60 ways to make extra money. We live in a world that is up for grabs and if we really want to make money, we can!! It just takes drive, perseverance and determination.
The past few weeks I have done extensive research on the side hustles that interest me and the ones that I think I can actually do and succeed with. My plan is to conquer each one of these side hustles and add them as sources of income for me. To be successful though, I have to put in 100% effort. I don’t want to half-ass any of these. If I am going to do them, then I need to do them right! Below are the side hustles I plan on pursuing to earn extra money to help pay for my future rental properties.
How To Side Hustle To Buy More Rental Properties
1) Amazon FBA/Private Label
- In a nutshell, this consists of buying merchandise/products in bulk from a manufacturer, printing your own logo/label on it, sending to an amazon fulfillment center, and selling these items as Amazon Prime products. There are people making ten’s of thousands per month by doing this. This by far I think is the best strategy for side hustling for me and it is the one I am concentrating on right now. I am literally in the process right now of setting this up although I am in the super early stages. I have done extensive research and am going in full throttle. It will take another couple of months before I have a product ready and being sold on Amazon but I am very excited about the opportunity I have here to make extra income. If you are interested in doing this, I highly recommend you start with this free e-book on amazon called Amazon Selling Blueprint – How to Find and Launch Your First Private-Label Product on Amazon in 90 Days or Less.
2) Create an eBook
- Creating an e-book and selling it on your own site or even through amazon is a great source of income. The catch here is that it needs to be a good book with good content. It’s not easy coming up with the material to create a successful book. I have been thinking about doing this for months now but just haven’t learned enough about starting this and making it sure it is done correctly from the beginning. My goal is to release an e-book of my own sometime this year.
- I have noticed more and more that most bloggers out there offer this kind of service to their readers and if the value is there, this can be a great way to earn extra money. I actually just implemented this a few weeks ago and have already had 2 sign ups. The key here is to provide good value and information at a good price. Before I even made this official, I have had numerous people already ask me for this service which is a great feeling. So for now, I will continue offering my consulting for helping newbies acquire their first turnkey rental property. I have listed all the information and packages for this on my contact me page. I don’t think I can earn a lot by doing this but if its something I can do while I’m at my day job then its a no brainer to do this. Its extra income!
4) Teespring – designing and selling your own t-shirts
- I don’t know about you but I am huge T-Shirt person. That is all I wear and I have a million t-shirts. I just love them and since I was a teenager, I have always wanted to create and sell my own t-shirts. Teespring is a place where you can do just this and they provide the means to do all this. All you really have to do is come up with a super cool design and advertise. I recently discovered about this side hustle from Mateen over at AFFEngineer. He blogs about how he makes money doing just this and he has been succesful at it. I don’t think this is easy by any means and you have to be super creative to come up with a design that will sell to the masses. I am very intrigued by doing this and think I might make a few trial runs with it later this year.
5) Create an online course via Udemy
- It seems these days, anyone can become an instructor and make extra money teaching others how to do something. I really like the idea of Udemy as it provides the medium to do just that. Anyone can literally create their own set of “how to” videos and sell them via Udemy. The catch of course is having the right material and demand for whatever knowledge you want to put out there. I am very interested in doing this as well but just need to figure out what kind of course I could create.
Those are just 5 of literally hundreds of ideas to make extra money. Side hustling is taking over the world and I am not lying when I say that I would rather just side hustle my way to financial freedom as opposed to working a 9 to 5 type job. My plan is to side hustle my way to financial freedom by using the side hustle money to buy more cash flowing rental properties. At the end of the day, it will be my rental properties that make me financially free and the side hustles are going to help reach that goal faster.
What about you? Do you side hustle? What kind of side hustles do you do or which ones are you interested in?