What side hustles do you folks have?

There’s a side hustle school podcast and 25% of the episodes really get me thinking about starting a side gig myself. Turns out I’m too lazy.

One really interesting story the host shared was of a guy who leased cars from a dealer at some super-low promotional rate, <$100, and rented them out using the rental service Turo.com. Break-even was probably two rentals per car per month.  I’m not sure where he was or if his result could be duplicated.  That model works in all kinds of markets for all kinds of durable, specialized items. 

I have had success with 2 engine install flips. 

First was a 1st gen Scion xB that I was gifted when the owner was quoted too much for an engine replacement. LKQ on eBay got me a cheap runner and I sold the car for $2600 profit.

Second should be fairly repeatable. Dead engined 200? Taurus SES with leather and sunroof purchased for $400. Replacement engine/trans on Craigslist was $400. A couple weekends later the repaired car sold for $2200.  I think the leather and sunroof can cover a multitude of boring Taurus sins when it comes time to sell.

sirrichardpumpaloaf said:

Datsun310Guy said:

I committed to working extra at my job and doing more (industrial hose sales).  

There's a very low-brow joke in here somewhere....

 

Seriously, though, I can thankfully pick up at least a day of overtime for the time being so I don't need a side-hustle.  For now.

He sells hose...

Industrial hoooose...

In different area codes.

Selling stuff on eBay and Craigslist .. which you already do and want to quit. ;)

02Pilot said:

Stone-cold pimpin' pays well, or so I hear.

Fred Garvin, male prostitute.  

One thing to consider- if your work reduces your expenses by $500/mo, it's the same as getting paid $500/mo.

So are there any of your expenses that you can put a little effort toward and reduce the bill?  For instance, food- can you grow, eat, and preserve enough food to save money?  Or even if your locality has some cool rules about home manufacturing of food- you could sell stuff at a farmers market.  If you want to go extreme, there are people who use their entire yard plust lease other yards to have a small urban farm.

Wine/beer- if you DIY that, can you reduce your expenses for that?  (anymore, you can find people ending that hobby on the list of craigs, so some of the supplies can be cheap.

Can you turn some home improvement skills to a small handyman job in your area?

How about doing something for the young?  Like yard work?  Be a little more professional in your yard service, but there are quite a few who have figured out how to really do that on a budget and make some reasonable money.  We hire a gardener for our front garden, and it's great.

I'd totally avoid the get rich schemes where you sell other people's stuff.  But the idea of taking other people's cast offs and making them valuable to others isn't a bad idea, too.  Wheeler Dealers for other stuff.

To alfadriver's point, I try and handle everything around the house (repairs, improvements, maintenance on vehicles) on my own.

I've tried flipping cars, but didn't care for dealing with buyers on CL.  I did make some money, though.

I had an etsy store where I attempted to sell clocks made from McLaren branded brake rotors off of GT4 cars, but had no success.

When cafe racer bikes started gaining popularity about five years ago I build a couple and sold them.  Made a little money, but not enough.  My margins would have been higher simply reselling the bikes after minor repairs.

Current side-gig is working at a friends business making racing simulators two evenings a week.  Pays OK, and the work is interesting.

A few guys in the office here have commercial lawn mowers and make a few thousand dollars a month cutting grass.  I asked about it and they said the first year you work for free to pay off the mower, and after that it's gravy.

I have a Husqvarna 272S stump grinder.  Side jobs are generally small stumps in difficult access locations that the big machines can’t get to.  Last night I worked for 2 hours and made $200 cash.  My goal when I bid the jobs is $100 an hour.  The downside is that it’s not a regular gig and some weeks I won’t do any.

My son mowed 3 yards in the neighborhood this weekend and made $90 for about 3 hours work.  

alfadriver said:

One thing to consider- if your work reduces your expenses by $500/mo, it's the same as getting paid $500/mo.

If work reduces your expense by $500/month, its the same as getting paid $750(ish) a month, if you can sink your savings into a tax sheltered investment account.

Its also the same as earning $750 fom a legitimate side gig before taxes.

Mike said:

I'm not sure I have the skills to repeat it, but I submitted a security bug via a bug bounty program and was paid pretty well for it.

I think you'd have to have a knack for that sort of thing to get reliable funds. I'm in information security, but this kind of thing isn't my domain.

To get reliable funds doing that work, you need to be one of the world's top computer security researchers. Otherwise you could end up spending way more time than the payouts will hold you over for.

What do I do for a side-hustle? Lots of things:

- Freelance software development (this pays the best per hour...way better than my day job in fact)

- Freelance IT work, computer repair

- Apparently I'm an electric scooter repairman now

- Started importing car parts for people but the last job became a clusterberkeley so I think I'm going to put an end to that

The side-hustles are actually eating up too much of my time and I want to cut down on them.

ProDarwin said:

alfadriver said:

One thing to consider- if your work reduces your expenses by $500/mo, it's the same as getting paid $500/mo.

If work reduces your expense by $500/month, its the same as getting paid $750(ish) a month, if you can sink your savings into a tax sheltered investment account.

 

Its also the same as earning $750 fom a legitimate side gig before taxes.

But that math only works if you can save it all pre-taxes...

alfadriver said:

ProDarwin said:

alfadriver said:

One thing to consider- if your work reduces your expenses by $500/mo, it's the same as getting paid $500/mo.

If work reduces your expense by $500/month, its the same as getting paid $750(ish) a month, if you can sink your savings into a tax sheltered investment account.

 

Its also the same as earning $750 fom a legitimate side gig before taxes.

But that math only works if you can save it all pre-taxes...

Yup.  I'd wager a guess that most people looking for a side gig can't already max out their retirement/hsa accounts.  Still the second part applies.  Saving $500 from your budget > earning $600 working somewhere, where you will have well under $500 after taxes.

In reply to alfadriver :

Reducing expenses is always good in my book. That said, one thing to keep in mind is that it's got a limited upside - even in an extreme case you can't save more than you're paid at work, whereas the upside on a side hustle can (theoretically) be unlimited.

So to me, the keeping expenses in check and the side hustle (if I had the time for one...) are almost orthogonal.

My career is becoming a side hustle. 

I spent over 30 years as a construction contractor. Now I am in facility management, and the construction experience leads to great side jobs that keep me in shape and pay well. 

All the things that made construction a tough business to make profits in (over regulation, insurance costs, overhead, poorly skilled workforce, etc) make it a truly exceptional side hustle. 

Facebook, NextDoor, etc. and I'm set. 

I have all the tools and skills. People appreciate that I am willing to do quality work on smaller jobs. 

I say no to a lot of work. 

BoxheadTim said:

In reply to alfadriver :

Reducing expenses is always good in my book. That said, one thing to keep in mind is that it's got a limited upside - even in an extreme case you can't save more than you're paid at work, whereas the upside on a side hustle can (theoretically) be unlimited.

So to me, the keeping expenses in check and the side hustle (if I had the time for one...) are almost orthogonal.

If you have a better earning ratio (time to money ) with the hustle than your career, you are in the wrong career.

I also have Air BnB  and VRBO guests. 

I figure I'm gonna live in a house. I might as well get someone else to help me pay for it. 

alfadriver said:

BoxheadTim said:

In reply to alfadriver :

Reducing expenses is always good in my book. That said, one thing to keep in mind is that it's got a limited upside - even in an extreme case you can't save more than you're paid at work, whereas the upside on a side hustle can (theoretically) be unlimited.

So to me, the keeping expenses in check and the side hustle (if I had the time for one...) are almost orthogonal.

If you have a better earning ratio (time to money ) with the hustle than your career, you are in the wrong career.

Possibly - keep in mind I was talking about earnings potential, not ratio, with the side hustle. And yes, plenty of people did turn a side hustle into a full time career.

SVreX said:

I also have Air BnB  and VRBO guests. 

I figure I'm gonna live in a house. I might as well get someone else to help me pay for it. 

How's that treating you? Just curious as my AirBNB experience is exclusively as a renter, but there's a move in the offing for us sooner or later, and the type of property we'd be looking at in the new location often has a guest/MIL apartment or additional dwelling.

Appleseed said:

sirrichardpumpaloaf said:

Datsun310Guy said:

I committed to working extra at my job and doing more (industrial hose sales).  

There's a very low-brow joke in here somewhere....

 

Seriously, though, I can thankfully pick up at least a day of overtime for the time being so I don't need a side-hustle.  For now.

He sells hose...

Industrial hoooose...

In different area codes.

You thought he was just 770, or 404? He's worldwide, act like y'all don't know.

Thanks for the suggestions. I'm working towards reducing the expenses. We're already down to internet only, I'm getting ready to kill Netflix, at least until Stranger Things comes back. Otherwise I'm trying to identify things that can be reduced. Cell phone bills are next (already on Ting, exploring other options/and/or bringing my wife on board), we've planted some herbs and are working towards veggies . 

Funny you guys bring up the taxables/non-taxables. That was one of the things that brought this up, I started a new job and they offer a stock-purchase program that is taxable, but pretty damn good, and for the first time in a long time I'm back into the taxable investments and it has made me re-evaluate my entire financial strategy. 

BoxheadTim said:

SVreX said:

I also have Air BnB  and VRBO guests. 

I figure I'm gonna live in a house. I might as well get someone else to help me pay for it. 

How's that treating you? Just curious as my AirBNB experience is exclusively as a renter, but there's a move in the offing for us sooner or later, and the type of property we'd be looking at in the new location often has a guest/MIL apartment or additional dwelling.

My daughter has been doing it for years, manages other people's property remotely, and has written a couple books on it. It's her career. 

I just got started recently, and am riding on her coat tails a bit. I did it primarily because I was carrying 2 mortgages, and it has worked out very well. We intend to keep doing it, and my wife will be taking over managing (which will give her an at-home income). 

AirBnB is very serious about building up and encouraging their owners to succeed, unlike some online sharing businesses (cough-cough-Uber-cough-cough). They provide good tools and excellent training. I've had similar experiences with VRBO. 

The devil is in the details. Taxes are a big one. You may be expected to pay hospitality taxes to local authorities, declare the revenue as income, lose homestead deductions, and even lose your ability to write off your capital gains on your own home. For me, the break even point (because of the taxes) is about $3500 per year. Do your homework. 

I always try to have atleast 16-18 billable hours in a day. My regular job has cut me down to no more than 10 hours a day so that leaves me a few hours a day to hustle.

I try to scrounge up prewires for low voltage when possible,

The animal training does ok with the horses and problem dogs, some after vet care is always an option for the right person.

I try and hit the pick a parts on 40% off days and sell the parts. I avoid eBay and do Craigslist. I also advertise on some of the Craigslist rust belt selling doors, fenders and Quarter cutoffs

The band is out on tour now but they give me some hours if I go and see whats broke vehicle wise. 

My friend calls once and a while when he gets backed up on making lenses for eye glasses. 

Sometimes I cruise the more affluent neighborhoods and see if there is any fencing/gates that need welding. Usually gets a foot in the door for making fancy fireplace grates, their word of mouth is pretty good for getting other work. They usually have older low voltage stuff that needs upgrading.

If you live in a big town the Pizza Delivery is usually good for a few bucks as long as you hate your little car that gets good MPG.

alfadriver said:

BoxheadTim said:

In reply to alfadriver :

Reducing expenses is always good in my book. That said, one thing to keep in mind is that it's got a limited upside - even in an extreme case you can't save more than you're paid at work, whereas the upside on a side hustle can (theoretically) be unlimited.

So to me, the keeping expenses in check and the side hustle (if I had the time for one...) are almost orthogonal.

If you have a better earning ratio (time to money ) with the hustle than your career, you are in the wrong career.

Not at all.  No way is there enough work around me to do stump grinding full time, nor would I want to (it’s hard work) it also pays no benefits.  So my government job for security, PTO, insurance, retirement, etc.  Side hustle for fun money and that “little extra”.  But it isn’t a career.

My side hustle tends to be me providing free care to people

KyAllroad (Jeremy) said:

alfadriver said:

BoxheadTim said:

In reply to alfadriver :

Reducing expenses is always good in my book. That said, one thing to keep in mind is that it's got a limited upside - even in an extreme case you can't save more than you're paid at work, whereas the upside on a side hustle can (theoretically) be unlimited.

So to me, the keeping expenses in check and the side hustle (if I had the time for one...) are almost orthogonal.

If you have a better earning ratio (time to money ) with the hustle than your career, you are in the wrong career.

Not at all.  No way is there enough work around me to do stump grinding full time, nor would I want to (it’s hard work) it also pays no benefits.  So my government job for security, PTO, insurance, retirement, etc.  Side hustle for fun money and that “little extra”.  But it isn’t a career.

Seems like it does not have the same earning ratio- you may make more cash per hour, but the total compensation plus the upper limit isn't what your normal job is.

alfadriver said:

KyAllroad (Jeremy) said:

alfadriver said:

BoxheadTim said:

In reply to alfadriver :

Reducing expenses is always good in my book. That said, one thing to keep in mind is that it's got a limited upside - even in an extreme case you can't save more than you're paid at work, whereas the upside on a side hustle can (theoretically) be unlimited.

So to me, the keeping expenses in check and the side hustle (if I had the time for one...) are almost orthogonal.

If you have a better earning ratio (time to money ) with the hustle than your career, you are in the wrong career.

Not at all.  No way is there enough work around me to do stump grinding full time, nor would I want to (it’s hard work) it also pays no benefits.  So my government job for security, PTO, insurance, retirement, etc.  Side hustle for fun money and that “little extra”.  But it isn’t a career.

Seems like it does not have the same earning ratio- you may make more cash per hour, but the total compensation plus the upper limit isn't what your normal job is.

For me, in theory I could make more on reffing than I do in my real job. In reality, they don't play hockey games 24/7, and it doesn't pay for healthcare/401k/etc. There are situations where it does work out (airBnB for instance, can be scaled bigger--go buy another house), but a lot of times it just doesn't work out. 

If I could work overtime at my current job I would not be asking this question, but I'm un(?)fortunately salary.