Ideas to generate a second income. | GTAMotorcycle.com

Ideas to generate a second income.

M

Mina

Well-known member
Site Supporter
So, what are some side jobs that help you generate a second income?
Uber comes to mind, I like the flexibility but how much are those guys really making?
Rental properties are a second idea but that is a long term investment with no real short term gains.

FWIW, I work a full time job and make a very decent living.

Just trying to build an empire.
 
Online businesses seem to be the way to go. Can you code? Maybe make an app? If you can do stuff I have a ton of ideas that I never seem to follow through with.
Working the 2nd job is not really an option imo.
I have a small side business that saw it's greatest times a decade ago, and even that only brought in a couple grand. Now I'm lucky to do a few hundred. But I use the side biz for presonal use, so it works out for me.


Sent from the Purple Zone
 
Im curious too about how much UBER ppl make.

do they cover wear and tear for the car and such?


Inquiring minds want to know....
 
Slum Lord ftw.

Seriously, make someone else pay for you. It'll take a few years but well worth it.
 
Meth?
I saw this documentary once about some dude who cooked meth to pay for his cancer treatments. Haha

If you have the credit, and the capital you can't really beat income properties. Just hope the market doesn't take a nose dive
 
miggs said:
Meth?
I saw this documentary once about some dude who cooked meth to pay for his cancer treatments. Haha

If you have the credit, and the capital you can't really beat income properties. Just hope the market doesn't take a nose dive
Click to expand...
Ya it sure would suck to have a few properties and due to some issue...multiple renters default on payments. Knowing you can't toss them.
 
Grow op grower?
Motorcycle instructor?

I'm a fan of the rental income property thing. The income it gives is sight unseen until you either sell it or become cash flow positive - either way in this market and what it seems like it will be doing for a while - not a bad investment.
 
Are there things you can do with your primary career to increase your earnings?
 
I spend a lot of time sharing the knowledge I have accumulated over the last 35 years but wish I had a 900 number so I could get paid for the free information I provide.

If you have expertise in a particular product an email service offering advice at a price could make a few bucks. Sadly most people won't pay an expert but instead get legal, medical, insurance, car and relationship advice from some obscure Toronto motorcycle forum.
 
I whore myself out on weekends
 
Do you have practical skills? Ceramic tile backsplashes , cost is $150 for tools, condo dwellers will pay good money for an install, it does require two visits, one to install, one for grouting.

I produce peppermills, yeah I know they are $4 at every garage sale, mine are not. I spend a couple hrs in front of a lathe instead of the telly. Small handmade products, charcuterrie boards ect can pay ok.

Be a consultant. If your good (or not) at your job and it requires or could benefit from coaching, make up a course, rent a hotel suite and send flyers to every manager in your industry offering tangible results. One born every minute.
The common sense stuff like only refresh your email every hr so someones elses agenda does not become your agenda, and my fav if you pick up a piece of paper on your desk deal with it, dont just move it to the other side of the desk because, wait for it...., its still THERE! That stuff is revolutionary in sales training courses and managers will pay for it.
Dale Carnegie has the sales pyramid , Ash Associates made it twice as good by making a sales diamond graphic, whip up a graphic and call it the "sales circle" , get a catchy story about make contact, find a need, satisfy the needs, make the sale and close the circle! people love this *****>.

I got hundreds of thoughts

My consulting invoice for trying to help you is in your PM.
 
Sadz said:
Ya it sure would suck to have a few properties and due to some issue...multiple renters default on payments. Knowing you can't toss them.
Click to expand...

If you can't afford anything then don't buy it. If you can afford it then get some other person to rent/lease your stuff and pay for it for you.

If this is honestly your argument then so be it. Stay out of the rental income market. Yes there are horror stories but take into consideration the # of people who will pay rent.

Financial benefits far outweigh the risk, as long as you are not going to be sunk by that risk.

Pay your **** off, buy more and make someone else pay for it. Or not. I guess do what you feel comfortable with, but imo renting/leasing is free money for me.
 
Sell your shoe collection ;)
 
Rent aerator in the spring and then knock on doors and aerate lawns. Money can be made quick, investment low and you can choose to do it only when needed


Sent from my iPhone using Tapatalk
 
Personally if empire building, I would avoid doing the actual work. Empire builders have soldiers for that.

If you, for example, cleaned offices you could make a few bucks a night. I know a guy that runs a cleaning service but has 300 employees. If he makes $2.00 an hour off each employee that's $600.00 per hour while he's just keeping the wheel rolling. When he wants to retire he can get a lump sum for the business or contact list.

The trick to building an empire is having the skills to find and keep good soldiers plus negotiate treaties. In real estate the tenants are the soldiers so having the ability to pick them is crucial.

In my case I just make a few $$$ here and there to pay for the bike and keep my mind occupied.

I had a bunch of electrical wire scraps kicking around and stripped it to bare copper while watching TV, getting $3.00 a pound. A plastic shopping bag full gets about $50.00. If you're in the business you can buy a power stripper. I know an electrical contractor that bought one and it paid for itself in a year including the wages of the guy that runs it.

Aluminum is pretty good as well but steel needs high volume and scrapping cars even worse. Cars have to be conditioned, no fluids, tires etc. Some legal issues with cars as well.

I sometimes wonder if Tim Horton looked at the cup of morning coffee he just made and asked himself "If I made another pot and put my name on the cups would people pay for it?"

Try to find a good handyman today. Legalities make it touchy today for some of the stuff they used to do but there is a demand. The trick is finding the market, people with the need and the willingness to pay.
 
Learn a trade. Electrician, plumber, carpenter, lots of side work out there lol. Sell drugs or pimp yourself out, easy money
 
Secondary income? Anything ecommerce. You can make, import or distribute from anywhere and have global reach. You can even start a gofundme or kickstarer page to start thing off.

Anything from cheap knock offs from China to high end, all you need to a good quality website, establish a network. Friend of mine sells stuff on ebay and does all right. Think he sells bar stools with material coverings from various motorcycle themes.

A relative of mine also imports from China. Shoes, pencils, think of that show The Liquidator. Furniture, electronics.

All sold on line. So, no store front. But, do need space for product and to package for shipping.


It's the FOU CHA!!!
 
crankcall said:
I produce peppermills, yeah I know they are $4 at every garage sale, mine are not. I spend a couple hrs in front of a lathe instead of the telly. Small handmade products, charcuterrie boards ect can pay ok.
Click to expand...

This is very cool.
 
You must log in or register to reply here.

Back
Top Bottom