A little bit of a different format this week.
We’re looking at 10 unconventional money rules – at least, in my mind they’re unconventional – to help you save more, earn more, and improve your financial situation.
To help me go back and forth on these points I’m joined by Rich Jones. He’s the host of the award-winning PaychecksandBalances podcast – helping you navigate your finances and career.
Rental arbitrage gives you a way to make money with Airbnb — without owning any property.
Traditionally, building a real estate side hustle takes big bucks for down payments, closing costs, and renovation projects.
But enterprising short-term rental “moguls” are questioning if owning the property is even necessary. These rental arbitrage entrepreneurs sign long-term leases, and then turn around and sub-let the property on a short-term basis — profiting on the spread.
Here’s my annual review of my “non-traditional” investments, including peer-to-peer lending, real estate crowdfunding, business lending, and even cryptocurrency.
And of course this is just a snapshot into my experience, not investing advice or a solicitation to invest.
Let’s dive in and see what happened.
Real estate investing is perhaps one of the oldest side hustles in existence.
Buy a house, rent it out, and build wealth. It’s a tried and true formula, and certainly a way to stop trading time for money.
This idea was popularized by books like Rich Dad Poor Dad, explaining (often with real estate as an example) how you can “escape the rat race” when income from assets you control exceeds your monthly expenses.
But real estate investing comes in many different “flavors” — and some take more time and money than others to get started with.
The passive income dream is real for Dustin Heiner of MasterPassiveIncome.com, he’s currently making $15k a month with around 30 minutes time investment on his part.
Dustin has achieved this by following a systematic approach to buying and letting out properties.
He started with his first property back in 2006. Within 6 years he had 19 properties, and within 9 years he had 26 properties and had retired from his day job at the age of 37.
Is trading stocks a legit way to make money from home? Or is it just another get-rich-quick-scheme?
Admittedly, I’ve always kind of looked at stock trading as a glorified form of gambling. And to be sure, there are risks involved.
In this episode, Teri Ijeoma does a good job of convincing me there really is an art and a science to it — and that it is a winnable game.
Could selling tradelines be a new income stream for you?
I’d heard whispers of this lucrative, relatively low time-investment side hustle, but never met anyone actually doing it.
That is, until I ran into Paul at FinCon. He said he started out skeptical, but had turned it into a $1000 a month income stream with very little work.
I’ve been excited about alternative investments since my early days as an aspiring real estate investor and peer-to-peer loan shark.
If you’re bored/scared/disillusioned with the “traditional” stock market and mutual fund asset classes, or if you just are curious what else is out there, this post is for you.
The cool thing is we’re living in a golden age of alternative investment opportunities, and it was quite an undertaking to compile these options.