Roberto Chavez started his raw land flipping side hustle a little over a year ago, and with persistence, has already built it into 5-figures of monthly revenue.
This is a business model that was first introduced to me by Mark Podolsky, from TheLandGeek.com, in episode 108 of The Side Hustle Show.
He called it “the best passive income model” because it avoids “the 3 T’s” of traditional real estate investing: tenants, toilets, and termites.
Corey Jeffreys turned an $800 investment into $3k in the first year and has been growing his business and adding more automated processes each year.
His entrepreneurial adventure began by exploring the world of real estate investing, when he happened upon a slightly different rental business model: inflatable bounce houses.
Zeona McIntyre is earning $12-18k a month through her portfolio of vacation rental properties and her “co-hosting” service for other property owners.
All this has afforded Zeona financial independence at a very young age, as she built her operation largely by piggybacking on the growing popularity of Airbnb.
Chad Carson is a 30-something semi-retired real estate mogul, who together with his business partner, oversees a portfolio of 90+ rental units.
In fact, he and his wife are in the middle of an exciting adventure — a year abroad in Ecuador with their two daughters.
But of course he didn’t start there. Fresh off the football field at Clemson, Chad’s real estate career started more modestly by “bird dogging” and house hacking — two of the tactics he shares in this week’s show.
This is the second in what will (at least) be a 2-part series on side hustlers earning income from their land investment endeavors.
In this special Friday edition of the show, I’m joined by Chris Pritchard. Chris is a software developer by day, but has built his land investing business up to $1500/mo in recurring revenue.
In addition, Chris does the occasional cash flip and also has more than $70,000 worth of land payments under contract. Not bad for a year of dedicated focus and effort!
In episode 108 of The Side Hustle Show last year, we met Mark Podolsky, a real estate investor specializing in raw land. He called it “The Best Passive Income Model,” because there are no products to build, no tenants or toilets, and you can start without a huge upfront investment.
This year, I wanted to feature a couple listeners who took action based on that episode. The first is my friend Josh Brooks, an Army Battalion Commander and founder of The Enduring Charity Foundation.
Elizabeth Colegrove and her husband are budding real estate moguls. So far they’ve acquired 7 houses, and neither of them are 30 years old yet.
Between their 7 properties, they’re earning around $1800 in cash flow every month, and their tenants are paying off $1650 in loan principal.
But real estate investment is not without risks and Elizabeth joked that I just have easily could have called the episode 27 and $1.1 million in debt.