Good side hustle?

Hgoldfein's picture
Rank: Monkey | 41

Looking for some input from all the investment sales/ commercial real estate brokers.

I'm trying to see what options may be available as a way to make some stable income to ease the burden of my never ending expenses while weathering the storm that this market has become.

So far I'm thinking about taking on some property management contracts but I am thinking it may eat up my entire day and leave no time for my main focus which is investment sales. Also thinking about doing hard money but I'm not familiar with the business so it would be a long learning curve.

Any input/ideas are greatly appreciated.

Thank you

Comments (26)

Oct 3, 2018

Hgoldfein, way too quiet in here. What about these resources:

  • Breaking into buy-side equity research- my experience the sell-side). I will not be talking about life on the buy-side, because BlackHat wrote a very good ... basically marketing for stocks of your bank's IBD clients. Sell-side research makes money through the ... networking. Recruiting Since the buy-side has such low turnover, especially for the good firms, how do you ...
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  • What side project or side hustle are you working on? Title says it all. The best idea I read here recently was making Instagram bots to sell accounts to wannabe celebs. My entrepreneurial pursuits are much more long-term: an automated trading system and an AI-driven drone security system, among others. So I ...
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  • More suggestions...

No promises, but sometimes if we mention a user, they will share their wisdom: @coreplusplus @cjlee @jfthiel

Hope that helps.

Apr 13, 2019

Blogging and internet marketing is a good way to make a side income online.

Apr 13, 2019

I concur. But this is also time consuming and takes a while to scale up.

I've heard of people consulting for side money. Maybe a part time RE professor at a junior college?

"The three most harmful addictions are heroin, carbohydrates, and a monthly salary." - Nassim Taleb

Most Helpful
Apr 13, 2019

Residential investing seems pretty good. Buy turnkey properties, hire a property manager, and lease them out. Doesn't seem to take up too much time and can be a great side income as the # of units increase.

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Apr 14, 2019

Don't know why you got MS. SB to even you out.

Maybe not a side hustle per say since you need a lot of capital upfront- but definitely worth noting.

"The three most harmful addictions are heroin, carbohydrates, and a monthly salary." - Nassim Taleb

    • 1
Apr 16, 2019
SponsorPromote:

Don't know why you got MS. SB to even you out.

Maybe not a side hustle per say since you need a lot of capital upfront- but definitely worth noting.

Not worth MS but first off, if he had that kind of capital lying around he probably wouldn't be in need of additional income to meet never-ending expenses.

Moreover, being a passive manager of small properties is an awful way to make money. If you can scale it up, then yes, it's a great way to pump out cash flow with little effort. But for those first few, he's gotta be on site, every day, dealing with issues. Basic knowledge of plumbing or carpentry helps for fixing leaks and repairing water damage. Being able to knock on doors and hit up tenants for late rent is key. If you hire a third party for all these issues, you'll find that your cash flow evaporates to near-nothing.

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Apr 13, 2019

A number of people I know worked at a bar 1-2 times a week, usually the weekends.

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Apr 14, 2019

Best gig in the world if you have a full-time job. You get to enjoy being out on Friday/Saturday night, still talk to girls, and make money. The job can't be beat as a side hustle

Apr 14, 2019

Is there any appetite in the market for smaller players needing a market research report? Charge them like $400-500 per report. Draw up a quick 5-page demographic analysis, new supply, economic city outlook. Stuff like that?

I was kinda thinking of doing this as I will literally be earning $18 an hour while living in an expensive city

Apr 14, 2019

I highly doubt anyone would pay 500 bucks for that. I was thinking to offer full om's with 10,20,30 year cash flow projections and comps and all that good stuff but it looks like there are a lot of people offering it for 25 bucks or even less. I can put one together fairly quickly but I don't feel like 25 bucks is the right price. Maybe 50-100 depending how detailed.

Apr 14, 2019

Wow that's cheaper than I would've thought.

Apr 14, 2019

agree with goldfein - especially since you can get a lot of JLL/CBRE/HFF reports for free via google

Apr 14, 2019

Tell me about it.

Apr 17, 2019

Out of industry the best side job I had was being a referee for local soccer / basketball games.

They tend to be mainly during late night weekdays (would depend what your work hours look like) or weekends.

I had one weekend where I was working a tournament with ~35 minute games back to back. Got to run around, juggle and hang out with other refs between games, free food, and they paid about $25 per game per ref and if you were the only ref you'd get $37.50.

I worked from like 10am until 4pm, got about 10 games in, free food, had a good time, did a bunch of cardio, and made a bit over $300 in a day.

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Apr 17, 2019

Actually looking at this now my buddy told me he made around $400 for reffing a baseball tournament last weekend. Did you ever do any other sports such as football and baseball?

Apr 17, 2019

Yeah you can make well over 500 a weekend if you have enough games.

I never did football / baseball. Not a huge fan of baseball and football takes a lot of effort (at a higher skill level you need to know about formations / rules / situations / etc. and oftentimes football doesn't make a crazy amount since there tend to be more refs per game).

Baseball makes good money as well (partly because they play more often, therefore more games to ref). I've played on and off in softball leagues and the pay per game isn't too great (as players we only pay $15 - 20 per game for ref fees, usually at least 2 refs per game so each make about $20).

I always liked running around with soccer, I also played it the most (and basketball) growing up so I was most comfortable making calls / identifying rules.

At a higher skill level soccer turns into just calling questionable out of bounds plays and the occasional off-sides since the kids / adults are quite honest about which team's ball it is. They want to throw it in and keep playing. On the other hand since football is so subject to first down conversions / play by play game, it takes more scrutiny as a ref.

Apr 17, 2019
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