And that’s the word I’ve started to live by -“change”. As my side hustle involving the excellent teaching/coaching of SBI has lead me to a place where I have to decide how committed am I to making money- on my terms. Although It is a big decision I have made it easily -I’m going to move from part-time hustler to full time small businessman. The thought of “working without a net” and relying on my personal efforts day in and day out is both scary and exciting. The bottom line for me is that I’m getting older and I can’t fully focus on several things at once. After becoming involved with the huge income potential of building my business using the SBI system, I can honestly say this is the ultimate hustle for me. As I’ve mentioned before….it takes time and dedication to follow all the steps one-by-one, but the reward is amazing. If you haven’t already please check it out.
OK- I’m gonna let that horse rest for a while, even though it’s hard not to share a good thing, and move to a different hustle used by a friend of mine to make extra cash while building wealth. You probably know someone in this hustle too. He buys run-down properties, lives in them while doing a total renovation (mostly by himself), and eventually rents the property after he has moved on to the next. This hustle has only cost him money out of his pocket once, during his first such home purchase. Since the house was in poor condition he only paid $1500.00 to take over the mortgage …since then he’s used the revenue generated by the rentals to fund everything! The positives of his hustle:
#1) He is actually well respected for fixing up these dilapidated properties and improving neighborhoods in the city.
#2) He can use his own judgment when renting the units out. He has helped some people who would have found it nearly impossible to get decent housing otherwise.
#3) The houses sell far below market for the area because of the work needed to bring them up to par. After he does his work he often has a huge amount of equity upon reappraisal.
He has six properties currently after selling one outright. Not bad for a side hustle!
The negatives of this hustle can be game breakers however:
#1) You have to be pretty handy and thrifty to rehab the house with little outside help.
#2) You need to be single since you’d be moving often and living in sub-standard housing at times.
#3) You have to be willing to deal with tenants and the headaches they can cause (you could get a management company to take care of all that for a fee).
Well there it is………..a great hustle for a industrious person who likes working with his hands. You may just want to sell the houses after renovation and pocket the difference. I hope to get with my friend and write a “step-by-step” manual on this hustle soon (maybe even a SBI site!).
My next post will revolve around creating an email campaign to promote hot and aggressive companies like Good Avocado who provide huge value to their customers while helping us all be a little more “green” and help heal the planet. They are out to become the hosting company of choice and have a great affiliate pay-out system. –see you then!