anybody want to chat about other ways to make money?
Rizzdawg
TGIF / What other streams of income do you have?
your other streams of income
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Put most of my money into my house this year. Would love to acquire more real estate though.
Right there with you. Too many house things to do, but once I'm done I have plans to diversify!
Looking forward to that, but just did a new roof, bought a dishwasher. Dining room furniture is next, and a roof next year. Plus the back deck needs some love.
Then a furnace. The fun never ends!
Then a furnace. The fun never ends!
welcome to the sink hole! But it is a nice position to be in to own your own house.
currently? nothing. Hoping to get a rental property in the next few years.
I have two side projects that if I put a bit of effort into I could create a small income from. but havnt gotten to that point yet.
I have two side projects that if I put a bit of effort into I could create a small income from. but havnt gotten to that point yet.
Right there with you on going for a rental property. Ideally, I'd go for a two unit building to live in one and rent out the other but could see myself going for individual units.
nice! im thinking more of a single family home close by to me. rent that out and take all that money to buy a vacation beach home on the coast. lets goooo
Very nice! Down the line I'm feeling multi-unit properties to spread the risk but keeping it within areas I know, like where I went to school/where I live
very cool. idk if ill be someone that owns a ton of real estate, but one or two could be in the plans.
I feel you, my personal plan would be to have a property management firm handle the day-to-day to make my life easier/would make it better for tenants
Yep canโt blame you there!
im trying to do the same thing. interest rates are so high rn. It kind makes me want to stay away haha
That's me. Sitting on top of a pile of money, waiting until those interest rates go down.
Hey but at least those high interest rates are making Money Market and similar accounts do WAY more work than they have done over the last several years.
what do they have to get to for you to take action?
haha this is a great point! im about to drop some money in a MM account as an emergency fund, looks like a good time to do that
Depends on my current objectives.
Generally, I keep my emergency fund in a standard checking account that gets booty interest. Anything above that or my typical baseline checking account, goes to a money market.
Then I Dollar-cost-average into various investments weekly (Except for real-estate).
Right now, saving up to buy more property, so most of my savings are sitting in MM so they're easy to use without incurring tax penalties for a short-term holding.
Generally, I keep my emergency fund in a standard checking account that gets booty interest. Anything above that or my typical baseline checking account, goes to a money market.
Then I Dollar-cost-average into various investments weekly (Except for real-estate).
Right now, saving up to buy more property, so most of my savings are sitting in MM so they're easy to use without incurring tax penalties for a short-term holding.
yep! nice approach!
Photography, my husband and daughter race Motocross. Since I'm already at the track and I enjoy taking pictures, people will pay me to take pictures of their riders. Easy money and I enjoy every aspect from the picture-taking editing and the easiness of using technology to send albums.
The second way I pay for the expensive sport: Drone Photography. I have a large following of track owners that love it when I fly and take pictures or make videos. They don't charge us for riding or racing sometimes. This translates to over $12,000 a year in track fees paid for with my skills.
Don't charge a lot because it's a hobby once I put a job title into it there is more unneeded pressure, distracting me from making real money.
The second way I pay for the expensive sport: Drone Photography. I have a large following of track owners that love it when I fly and take pictures or make videos. They don't charge us for riding or racing sometimes. This translates to over $12,000 a year in track fees paid for with my skills.
Don't charge a lot because it's a hobby once I put a job title into it there is more unneeded pressure, distracting me from making real money.
Eventually getting into to rental property but thats probably 5 years out at the minimum
I live in a garden style condo right now that I would love to pay off and rent out, but Iโm sitting on the cash to buy a house when the market calms down.
My overall goal is to have 15 properties worth $3mm by age 50 so I can live off of that. In the meantime, I have thought about a second source of income to become financially independent
Hmm, can't select more than one...
Equity dividends and Real-estate primarily for me.
Indexes, Bonds, Blue-chips, and that sweet rent.
Equity dividends and Real-estate primarily for me.
Indexes, Bonds, Blue-chips, and that sweet rent.
I just work my job and burn through all the cash monthly with no savings
All you people wanting a rental property, donโt become a slumlord
My wife.
Oh sweet baby Jesus ๐
Nada - one job and, focussing to earn here. Good time is yet to come.
My one job is enough. Trust me.
Content creation makes me a bit of money. Plus, I do some consulting (few hours a week).
I do a few things, stocks - broad index funds, I invest in Prosper, Wefunder and Small Business Bonds, most as fun money stuff. But generally the focus is broad index funds.
I own several other peoplesโ homes.
I think this is the dream of many, can I ask how you started, since buying houses is not cheap... or was it just work, did you save money and repeat the process? If so, how long did it take you to be able to live on it?
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