Hi Stockaholics. Do you have a side job, part time business, or something else you do to earn more money in addition to your full time job? I mow lawns and work a lot of overtime at my job to make extra money but I'm looking for more ideas.
I own real estate. That's a side job. It's been great to us but I do not recommend it. When I had a full time job, I worked a lot of overtime and saved all of it. It might make sense for you to start a side business. An interesting business would be Airbnb management. It's pretty easy to find units. From there, you will need one or more cleaners. Typical rate is 30% of gate. Don't forget, there is also a cleaning charge so that should cover the cleaner wages. Once you understand how it works and what is necessary, you'd want to help people set up for Airbnb. I don't know what you'd charge for that but it would be worth something. It should be pretty easy to make $500 per week with about 5 hours of input. It takes time to keep the supplies stocked, meet guests, etc. The good part of it is you can mostly do it when you have time. Even correspondence with guests is done with the app on your phone so it's not much of an imposition. As for what to do with the money, I'd stay close to the S&P500 or a couple of stable companies. The less you trade, the more you'll have when you need it. I'm a contrarian, in this regard. If you can manage to save 100% of your side job income, you should be able to retire in about 10 years. Just my $0.02.
So I freelance and write articles and whatnot. In College, I used to freelance to save up money and in summer vacations I worked as a writer for companies. This gave me experience and also connections. Now, I am able to freelance and earn money on the side. It's really a good method to have a side income.
Sounds like an interesting idea, though I'm not sure I would be able to do it because I don't have a smart phone.
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