Here are the top (somewhat terrible) 10 ways to make dollar bills right now
Sell your junk online – Figure out what you don’t really need (your SO?) and just sell it on Craigslist
Teach English online – Become a virtual teacher on VIPKid and teach some random Chinese kid English ($20/hour x 5 = cha-ching)
Donate your sperm – I said enough
Cut your neighbours grass – You really hit two bird with this one. First, you make cash and second you improve the looks of the neighbourhood’s drug den
Use Ebates – Earn cashback and go on a shopping spree? Count me in!
Rent out your parent’s bedroom – Go onto Airbnb and rent it out while your parents are out of town. Trust me they will be surprised when they come back
Car-sharing – Unless your in a hick town known as Vancouver you can join Uber or Lyft and drive around to make some extra bucks. Just don’t get accused of sexual assault while you are at it
Start a business – And then close it because you do not know the first thing about running a business
Become a freelancer – Go onto Fiverr and pick up some work that will actually pay you. Love to draw then Fiverr is there for you. Love to do makeup then Fiverr has your back. Love to become a fairy princess…. sorry Fiverr cannot help your there
Take photos and sell them on the internet for a fee – Take a picture of your toilet and put it on Shutterstock. You would be surprised to see that there are people willing to pay cash to use that specific image of your toilet
Real Estate Investments has always been a personal hobby of mine. Here is one real estate investment that you can make today but buyer be warned it is not for the faint hearted!!!
Physical Real Estate
When most people hear the phrase “Investing in Real Estate” they think of physical real estate. Physical real estate is defined as a piece of land with a building on it and can be split into residential (multifamily and single family units) or commercial units.
Investing in physical real estate has advantages and disadvantages. Here are some advantages and disadvantage of investing in physical real estate
Advantages: Cash-flow and Appreciation
Generating cashflow is one of the biggest advantages of buying physical real estate. By buying property and getting a tenant to pay your expenses (aka mortgage, strata fees, property tax etc) you are able to generate cashflow aka passive income
Appreciation is the 2nd advantage of buying physical real estate. When you buy property it will appreciate in value (unless you are in Detroit ). In the right market conditions a 30,000 dollars down payment can easily becoming a 300K profit by buying and holding a property for X number of years and using the tenant’s rent to pay off the mortgage
Disadvantages: TENANTS, TENANTS and TENANTS
Investing in physical real estate is a semi-passive investment at minimum and a PITA (pain in the ass) most of the time. As the landlord you will be dealing with late payments, broken toilets, property damage and if you are not scared enough maybe you will encounter the TENANT FROM HELL. You know the one tenant who calls you at 2 am in the morning to tell you that their sink is overflowing… yea that tenant. Of course it all comes down to how you communicate and manage the issue.
Conclusion/Summary/I am too lazy to write anything else
Physical Real Estate can generate Cashflow and Appreciation over time but Landlording sucks big time antelope balls. If you want these advantage without having to be the landlord then take a look at Mortgage Investment Corporations and Real Estate Crowdfunding instead. I will talk about these two forms of Real Estate Investment next time so be ready!!!!
Let’s say you walked into the bank one day and ask the bank teller for a personal financial advisor. 5 minutes later Chuck Norris walks out saying he is your new personal financial advisor. At this point you probably would wet yourself with excitement and believe that you are in a dream. Here are five pieces of advice that Chuck Norris (CFP) would give to you;
5. You do not fear debt. Debt fears you
What Chuck Norris (CFP) is trying to saying is do not fear debt. There is such thing as good debt such as a mortgage to buy a new rental.
4. If you had 5 dollars and I had 5 dollars I would still have more money than you
As Norris would say having money is not the end game. Money is just a tool that you can use to invest in improving yourself and kick life’s ass
3. You do not need financial management. You are the management
Do not rely on financial professionals to get you into the right financial plan. You need to take the initiative like reading books on financial planning (Rich Dad, Poor Dad, The Wealthy Barber)
2. If you Google search me filing for bankruptcy you will generate zero results. It just doesn’t happen
Put yourself in Chuck Norris’s shoes. Is bankruptcy an option for him? No it is not and it should not be for you either. One of the best methods is to negotiate with your lenders or collection agency and find out the minimum amount you need to pay. Be Chuck Norris and be confident when you speak. Convince them that you will act in good faith and pay back every cent even if it means that you have to kills some wolves with your bare hands
1. You change your financial future with your FISTS. If it get in your way KICK ITS ASS!
In the end of the day you are the captain of your financial ship. If it starts sinking its not Chuck Norris’s fault you did not use the right type of material for your hull. You need to learn what the backbones of good financial planning and ask the right financial questions. Becoming financially wealthy is not easy it is back breaking work
Throughout my 30 odd years of life, I have learned a lot of things from a lot of different people. However, Chuck Norris has taught me the most. For example, I learned from Chuck Norris that it takes one little pinky finger on the left hand to kill a man. I also learned that Chuck Norris sleeps with four eyes open, two in his eyes and two in his fists. What I am trying to say is that what I learned from Chuck Norris is not to take life granted. Whatever will come to you will come through your own two hands. That to live the life you must beat it to submission through both hard work and sheer determination. That it is up to us individually to live our own lives and to be responsible for our own actions. Ok, I might be trying to overextend the lessons that Chuck Norris has given us mortal being. But there is a truth to what he says and does. It is that we are our own man/woman and we are the only ones to control our own lives. This is how I try to live my life and this is how I will live until I die.