My Investing Journey with Passive Income, Stocks, and Cryptocurrencies!

Category: Side Hustle

Starting a SERVICE BUSINESS |Find a Problem

To start a SERVICE BASED BUSINESS, you need to find a problem and solve it. Here are a couple of ideas to get your brain storming. These aren’t the only ones of course but hopefully enough to get you thinking.

1)Music teacher or private music performer (This is what I do!)

2)DJ-Maybe you like getting people fired up and partying. Private events and Weddings need Dj’s. You can make pretty decent money doing this on the side on weekends.

3)Landscaping Business-This is not going away any time soon. However, you may face a lot of competition. There may be an initial investment required (Lawnmowers, weed eaters, blowers, etc). However, after that, you won’t need a brick n’ mortar store or anything.

4)Video Editing, Shooting videos for Real Estate Businesses. Another one that isn’t disappearing any time soon. Get really good at Imovie or Final cut Pro. Not much required as far as investment of capital other than a computer and software.

5)Car Wash-Cars are another one that won’t be disappearing any time soon. Rich people love their cars to look nice. Get really good at washing HIGH-END cars!

6)Personal Trainer-This doesn’t have require a lot of overhead. You can train people in their house. In particular, we are living in a world where people are trying stay healthy, so their is a huge market for this. My advice would be to pick a niche. Maybe you want to go for the office worker, maybe the woman in her 50’s that is overweight? The longer you do this, the more apt you are probably going to be able to zero in on that niche.

7)Yoga/Tai Chi/Wellness Coach-Once again, lots of people are trying to be more healthy. I did Tai Chi for awhile myself. You can teach a class but one on one is where the larger amount of money is. Become an expert in this field and people will seek out your skills.

8)Skilled Trades/Construction/Tile layer/Carpentry-There is a great shortage of people with these skilled trades. Not only can you offer your services but perhaps you can allow others to apprentice under you, charge for lessons. Why not?

9)Sports Coach-Baseball, Volleyball, or Tennis Coach. Maybe you are great at basketball, some kid could use your services. Most parents sign up their kids for sports. Sports is another one that won’t be dying away any time soon.

10)Foreign Language Tutor-Spanish is a seriously useful skill in the USA.

Side Hustle Update-March

I’ve sold very FEW things on eBay this past month. This was partly due to mostly concentrating on cleaning things out at my parent’s house and trying to sell those things for my mom. Not to mention just scrambling to increase my online music business in a bunch of different ways.

I lost about $400 in income a month because I work part-time in after school programs at an elementary school. Yes, school has been canceled for the REST OF THE YEAR here in Georgia!

Anyways, the Coronavirus has, of course, stopped my thrift store hunting. The good part about this is maybe I can get rid of some inventory before getting more. I was starting to run out of room a bit.

Here is the break down:

1)These little Fisher-Price characters were part of a grab bag I got. The price paid is 79 cents each. They went for $4.35. After fees and shipping, I made a profit of $3.20

2)This Superman toy was part of a larger lot of toys I paid $25.00 for. It sold for $10.00. After taking into account fee/shipping, I was left with $5.02…This is all profit because it is from a $25 lot of toys I’ve already made my money in.

3)Massive Darkness. This was part of a lot of 2 I gave $70 for. The price for the individual item works out to be about $7.00. It sold for $10.99. After taking into account fees/shipping I made $2.95

4)Paw Patrol Toy. I gave $2.13 for this. It sold for $4.15 and the total profit for this was only $1.21. I got tired of waiting on this to sell, so I dropped my price very aggressively, which did not help my margin here.

So, as you can see I made a whopping profit of $12.38 in March from selling Toys. On the other hand, I did also sell some old exercise equipment and books that I had laying around for a bit more profit, money that can be invested into the market to generate a greater return.

I continue to need to be a little more aggressive with all of this. I just kind of post stuff and lower prices at my own leisure. I’m sure I good do A LOT better if I put more work into this but I really don’t want it to be like another job. I kind of envision it being something where maybe I could make an extra $200 a month at some point. On a positive note, I HAVE gotten a lot better with shipping costs and that continues to be a way to add to my profits, using the eBay shipping services.


Side Hustle-Jan & Feb Sales

I think it’s time I give an update on my Ebay Toy and Board Game Side Hustle. These are just a few of the sales I made. I am getting better at the “business” due to more efficient listing methods as well as improved shipping methods that are reducing shipping costs by around 20%. The NET PROFIT listed is how much I made AFTER FEES/SHIPPING/ETC. While the smaller items don’t net me as many profits, they are SO much easier to deal with, just throw in a bubble mailer and be done with it.

1)First up we have Bakugan Brawlers

I only paid $2.00 for these things and total NET PROFIT was $25

2)Star Wars Metal Earth Toys. Total paid was $2.54. NET PROFIT was $9.05

3)UPS Die Cast Toy; total paid was 79 cents; net profit of $2.57

4)Lightening Plane Toy; total paid was 79 cents; net profit of $3.25

5)Pokemon Energy Cards; now I paid $3.50 for these cards but I also got a TON of cards plus a collectible tin as shown below. So these energy cards are only like 1/5th of the cards.

Before it’s over with I will easily make over $20. NET PROFIT on these energy cards is $3.34 so far

Imaginext Toys; now this came from a HUGE lot of toys I have $25 total in, Martian man netted me $5.45

From the same lot-Spiderman Imaginext Toys NET PROFIT of $5.65

So, I’ve already got a net profit of $18.92 from that lot of toys and still have TON left to sell.

3)Worst Case Scenario Board Game; price paid $1.24; net profit was $8.86

I am still learning and getting better at Ebay. I TRIED Facebook Marketplace with limited success. There are just way too many flakes, weirdos and the like. I would rather list on Ebay, be done with it and not have to deal with the type of people on Facebook.

The goal of this side business is to just bring me a little extra income which I can use to invest and pay expenses with. At the moment I have over 80 listings on Ebay and you just never know when an item will sell; it could take two days, it could take two months. I’m not increasing my inventory because honestly I already have enough stuff laying around to sell.

More updates later! Here is the corresponding YOUTUBE VIDEO:

Side Hustle

It’s been a bit since I reported on my side hustle, how is it going?

Well, I’m still selling off some of the toys and board games I bought over a month ago. The thing with inventory is you don’t know when it will move necessarily.

However, this week started off good, I did manage to sell two toys on Ebay in one day.

I’m basically just going to thrift stores on my way to work or whenever I’m out and about and looking around. I had to take some stuff to donate the other day and went in and found a big box of Pokemon cards, paid $2.00. Inside was a $20 special edition card, three $10 ones and a whole bunch more I’ll sell as lots. I’m amazed at what people will give away.

My other find of the week-My local thrift store bags up loose toys and sells them for $3. One had a couple of airplanes, space shuttle and more in it. I figured out I gave 0.79 cents for each one and today I sold one for $4.50, so decent return. I know this doesn’t seem like much but if you invest small amounts and keep getting more it does eventually add up over the course of a month. The great thing about some of these toys is they are VERY easy to mail, just throw them in a bubble mailer and off you go.

Although it wasn’t a thrift store purchase, I also sold some old books I had on my bookshelf. The great thing about books is you can buy them, read, get what you need out of them, take notes and re-sell and make some of your money back. Talk about a great “investment.”

I will probably do a QUARTER report with my profits because I think that makes more sense than a weekly or even monthly report. The returns are not like with dividend stocks, you invest and you don’t know when you will see that cash flow back, some items will take months to sell, some sell immediately.

Anyways, that is all for today. More to come later!

New SIDE HUSTLE & Facebook Marketplace

I recently decided to pop into the local thrift store and see what they had, boy was this a bad idea, it started a new addiction for me. Buying and selling things via Ebay and Facebook Marketplace.

THE LEADUP: My seasonal job is done until Febuary and my gigs are VERY slow right now in the winter months so I need some extra income, hence, the need for a SIDE HUSTLE.

So after about Five minutes browsing around I spotted a big Tonka Firetruck for $1 that looked to be in very good condition. Next I picked up a board game with two puzzles (Tied together for $2).

I took this “My Feelings” board game home, put it on Facebook Marketplace and no lie within ten minutes I had a buyer at $20. That’s $18 profit

Unfortunately, the Tonka Truck and the puzzles have yet to sell but maybe in good time here.

Next up, I found this HUGE lot of toys on FB marketplace for $20. I had to drive about 30 mins to get it but I had the day off and wanted to hit some other thrift stores on my way there so I made it worth it.

I will update as the items sell but let’s just say there is over $200 worth of material in that lot of toys. Here are the biggest ones in the lot. The power ranger was $200 new and is bringing about $30 now, Batman Cave, at least $15, superman Daily Planet another $12 at least. This is not even getting into the smaller pieces, some of which will bring $10 a piece. So yeah, major score there. I’ve already sold some of the smaller pieces on Ebay for $3-10 a piece.

I will continue to report back with my side hustle sells over the course of the next month to see how I did, right now I’m loving the extra cash flow.

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