5 ways to make enough money on the side to quit your day job by Brandon Turner on Nov 15, 2015, 1:05 PM Advertisement
 Nearly everyone dreams of quitting his or her day job, whether it's tomorrow, next year or in the next decade. However, there is a wide chasm between "dreams" and "action" that many people never seem to cross — and it's usually due to finances. Obviously, if you want to quit, you need to find another way to make enough income to pay your bills, save for the future and enjoy life. But what's the best way to do this? How can you make enough "side income" now so you can quit your job in the near future? Here are five great ways to make side income while still working your day job: SEE ALSO: How to train your brain to get what you really want  1. Invest in real estate. My eyes were first open to the idea of "passive income" after reading "Rich Dad Poor Dad" by Robert Kiyosaki. Although not a real-estate book, it taught me the value of owning assets that produce income, which led me to real estate. Real-estate investing is not always passive, and not always easy, but it can be highly profitable. In addition, there are hundreds of ways to invest in real estate. For example, you could: • Flip houses
• Own rental houses
• Become a "house hacker"
• Own vacation rentals (Airbnb)
• Rent out duplexes, triplexes and fourplexes
• Buy and rent out apartment complexes Real-estate investing is my favorite way to create side income because it runs like a locomotive. It might take a little time to build up, but once it's running, it goes a long way with less effort and is hard to stop. Related: Earn More Cash Through Your Personal Brand With These 3 Avenues
 2. Write a book. Many people have dreams of writing a book, but very few ever do. They think it's too hard, that they don't know enough, don't have enough time, aren't smart enough or whatever other excuse they can come up with. But the truth is: you can write a book, and that book can help you make additional monthly income. There are several avenues you can take when writing a book, and there is no "best route." For example: • You could write a series of shorter topic-specific books and publish them on Kindle.
• You could self-publish through your own website and sell to your existing customers.
• You could partner with a larger platform and sell to its audience (as I did).
• You could work to get published through a major publishing company (probably the most difficult path).
• You could record an audiobook and publish it on Audible. Writing a book today is not as tough as it once was, as there are so many avenues with which you could publish. The keys are no longer held by elite publishing companies in New York City. The keys are now in your hands.
 3. Sell a product on Amazon. I'm slightly addicted to Amazon Prime, as my local UPS driver can attest to. It seems every day I have a package or two waiting at my doorstep — and it's usually from people just like you. Most of them probably never touch the product that I'm buying. That's right: you no longer need to have a warehouse, inventory or employees to buy wholesale products and sell them at retail. Amazon has leveled the playing field and now anyone can sell products. A friend of mine, Chris from UpFuel.com, decided to sell products on Amazon. He researched best-selling ideas, contacted a manufacturer in China and had the perfect model designed, had the product shipped to Amazon's fulfillment center in the United States and sells his product on the site, making thousands of dollars a month in profit. The best part? Chris doesn't ever touch the product, and it largely runs on autopilot at this point. Related: 10 High-Paying Jobs You Can Do on the Side
See the rest of the story at Business Insider
| 
0 comments:
Post a Comment