Side Hustles 2015

@Mark Antony I'm leasing the building for this particular location. Have a 10 year lease. I honestly purchased the laundromat to renovate and flip. Will easily sell for double what I paid in 2-3 months of managing.

I do this for a living. Purchase distressed properties, renovate and increase cash flow, and then flip. I get the word from investors and people I've done business with in the past.


Shoot me a PM with your Facebook link.

Not sure what city you're in but let's connect.

I'm a full time Developer/Investor in RE.
 
Saving money is the easiest hustle ever. I got a few bills saved from this year and I still eat off the dollar menu. Ever since my daughter was born I can't stand to spend money on anything other than gas and food.
 
I NEED PARTS OF THAT RENOVATION GAME.. BUT I DONT HAVE START UP CASH AND NYC IS

You don't need hundreds of thousands of dollars to start. If you at least get a down payment and closing costs, you're good. Search for cheap, distressed properties. Trust me, if you keep checking Craigslist and speak to local investor friendly realtors, you'll be surprised what you find. Look for homes for sale by owner and work out a deal because they're always desperate to sell for cheap if you give them an all cash offer.

for example, I paid $30K and $35K for the rental homes. One didn't need any renovations and the other needed minor. Now I'm collecting $1300 in rent every month from both combined. So now I have positive cash flow and can flip for way more than I paid.
 
Do you pay cash for all your properties?? Or do you use lenders or banks to finance some of them for some or raise funds from other investors?? Sounds like you got real nice business going
 
lilchico4life lilchico4life Good info and motivation. Makes me feel like my reservations about it are stupid. Just need to make a move.
Do you have a real estate license or are you doing all of this paperwork through someone else?
 
I NEED PARTS OF THAT RENOVATION GAME.. BUT I DONT HAVE START UP CASH AND NYC IS

Google your local REIA and join.

I started my business making $14 an hour.

6 years later my companies do well over a million a year. It's possible.

I'd look into wholesaling. That's what got me going.
 
Do you pay cash for all your properties?? Or do you use lenders or banks to finance some of them for some or raise funds from other investors?? Sounds like you got real nice business going

I paid cash for most that I own. I purchased a commercial property earlier this year (leased the business) where I financed. It is a pain in the *** process and time consuming. I like to do a quick close, but didn't want to tie up $800K when I can use leverage. I got a little creative with it. The business I leased had positive cash flow so I sold it (goodwill) for the same amount I needed to put as the down payment. I didn't have to pay out of pocket for the down payment and closing costs. I signed the business owner a triple net lease and the business now pays me rent every month. Didn't pay a dime out of pocket. Now I have the property under contract with a investor. So I made money selling the business itself and also when I sell the property.

You just need to be a little creative and think outside the box.
 
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You all should look into wholesaling.

No license needed and no or min money needed to purchase homes.

It's simple. You find a motivated seller (someone who wants to sell their home fast)

Negotiate a price and get it under contract. Find a buyer (people that fix and flip)

Assign the contract to them for an assignment fee (avg. $5K-$10K)

This is legit. I know you've probably seen those "We Buy Houses" signs.
 
On another note E-commerce is very good.

There is a big opportunity right now with Amazon FBA.

This year Amazon will do 100+ BILLION.



You can make money doing anything.

The biggest obstacle is your own mind.

You can make a million washing windows, painting homes, the list is endless.



Learn to communicate and sell. Sell yourself or product.

Whatever business your in, you are in selling.


Follow Tai Lopez on youtube. He gives out great info for free.

He gives free talks online every week.

If you want to earn more you have to learn more.

Good luck to you all.
 
lilchico4life lilchico4life Good info and motivation. Makes me feel like my reservations about it are stupid. Just need to make a move.
Do you have a real estate license or are you doing all of this paperwork through someone else?

I don't have a real estate license or access to MLS. Any deals I make are directly with the owner. Who doesn't like an all cash offer? I buy from owners and sell to investors.

As for the paperwork, there is less paperwork involved at a cash closing versus when you're financing. Banks want to protect themselves in all ways possible and make you get things you don't really need. I have an attorney that handles the closing documents since he also has a title office.
 
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