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Side Hustles

What are some reliable side hustles? I used to drive Uber, but I need something that I can do remote. For example, I have a friend who works as a petroleum engineer part-time remotely and another that day trades and makes money consistently. I don’t think I could do those, but do any of you have things you’ve executed? Just trying to up my chedda!

It’s much easier to make money once you have some money. Having capital work for you seems to be some cheat code used by rich people. I understand though, that this is not an option for some people sometimes. So, I’ve observed a few activities done by people I know:

1) Rent extra rooms on AirBnb. There are risks, admittedly. One guy I know got some tourists who did pee sex on the bed.

2) “Donate” sperm (not really a donation, since they pay you)

3) Uber, but only during surge hours, like hauling drunk ass people at 2AM

4) Sign up for science research, if you live near a university. I volunteered to be studied for all kinds of research while in college, and this helped pay my tuition.

5) Start a fake “financial independence” blog and sell false hope to hacksaw office drones (all those so-called “retired” people seem to still work “for insurance” or because they “choose to”).

6) If you have money, do investment research for yourself. What I learned and applied in investments has easily been worth hundreds of thousands, or even millions of dollars so far.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

ohai wrote:

6) If you have money, do investment research for yourself. What I learned and applied in investments has easily been worth hundreds of thousands, or even millions of dollars so far.

There he goes again!! You sly bastid. 

"When what I'm doing isn't working, that's when I'll take your criticisms." -- Me, some time ago

ohai wrote:

5) Start a fake “financial independence” blog and sell false hope to hacksaw office drones (all those so-called “retired” people seem to still work “for insurance” or because they “choose to”).

I second this. In just my own workplace, its amazing how many people working in a financial services firm have bought into scams like this. Must inspire a lot of confidence in clients. And like motivational speakers, it doesn’t seem like you need to be a particularly charismatic person to pull it off.

My own preferred side hustle is working for an online essay/assignment-checking service. Can work from anywhere anytime you have an internet connection.

6 is key. even if you dont have enough money now. learning about a company and understanding how it works is important. if its a winner and its a big company, its going to be a scalable money maker in the future. and it wont matter if you have a million to invest or 100m, they will generate the same percentage return. it just sucks right now when i can only put about 10k a stock, even if i am a great stock picker, a 20% return per year in 4 years will only double my investment. or earning only 2k per year. anyways i see this as good practice right now. and if i am good.i know that whatever i learned, i can scale up, and the time i spent learning who the winners and losers are in the stock market will not be for a measly 2k gain!

I love my cheese. I got to have my cheddar.

Bitcoin, probably should buy Bitcoin

I know it’s not viewed as a great website for investment advice, but you could become a contributor on Seeking Alpha (it’s easy).

I used to write an article right before earnings for Apple, Tesla, and Amazon each quarter.  Each article maybe took an hour to write since I used the same template and i normally made $100 off each one.

i love seeking alpha. great source of info for instant news, transcripts, presentations, adn earnign summary. i just let the notifications pile up. lots of contributor info is **** so i typically read it when i take a ****.

I love my cheese. I got to have my cheddar.

sell drugs?.. I’m buying if you’re sell.,..

plumber > stripper > experience > CFA > MBA

alternative… become a plumber. Should be easy as pie./..and you can charge a shit load for virtually no work.

plumber > stripper > experience > CFA > MBA

i acquire and build multifamily. Small units like 3-4 units. My neighbor does the same.

i only do condo units. build in 4 months and get out.

Be yourself. The world worships the original.

infinitybenzo wrote:

i acquire and build multifamily. Small units like 3-4 units. My neighbor does the same.

i only do condo units. build in 4 months and get out.

I imagine you have substantial net worth to post as collateral….How would someone get unsecured capital to build those units otherwise?

if you partner up with reputable developer or builder in your area, you’ll be able to get a construction loan. There is more capital than projects so banks would be happy to lend. 

No collateral. Formed as LLC which the owner is another LLC, which represents me. The collateral is the land/building.

Be yourself. The world worships the original.

infinitybenzo wrote:

if you partner up with reputable developer or builder in your area, you’ll be able to get a construction loan. There is more capital than projects so banks would be happy to lend. 

No collateral. Formed as LLC which the owner is another LLC, which represents me. The collateral is the land/building.

So none of your individual credit profile is considered? Ie DTI, LTV (maybe this one..), etc…

why would a developer or builder partner up with you? jw wondering what you bring to the game

"You want a quote? Haven’t I written enough already???"

RIP

igor555 wrote:

why would a developer or builder partner up with you? jw wondering what you bring to the game

capital

Be yourself. The world worships the original.

Real estate guys are always capital constrained.  They are balance sheet rich but cash flow poor ha ha

infinitybenzo wrote:

igor555 wrote:

why would a developer or builder partner up with you? jw wondering what you bring to the game

capital

ok cool. im not big into RE so just asking out of curiosity.

why cant they get the capital from a bank then?

"You want a quote? Haven’t I written enough already???"

RIP

Then the developer will have risk if the project does not do well. Presumably, developer is taking a cut here and benzo takes most or all the risk in failure. Good plan actually. 

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

That’s why he went from Infiniti to benzo

"You want a quote? Haven’t I written enough already???"

RIP

You have to acquire property to develop, which will require capital for a down payment. Then you can use the property as collateral for a construction loan for development. These loans tend to be pretty high rate with extension penalties, so it is important to stay on schedule as much as possible. Developer is using infinity’s cash and balance sheet, but infinity doesn’t have to do any work. It’s a pretty common set up, but terms (ownership stake, rights, % capital contributed) vary greatly.

you basically need to come from a target school pedigree/work at prestigious firm in the US/have a really good connection.

- AF hivemind

brain_wash_your_face wrote:

You have to acquire property to develop, which will require capital for a down payment. Then you can use the property as collateral for a construction loan for development. These loans tend to be pretty high rate with extension penalties, so it is important to stay on schedule as much as possible. Developer is using infinity’s cash and balance sheet, but infinity doesn’t have to do any work. It’s a pretty common set up, but terms (ownership stake, rights, % capital contributed) vary greatly.

ie, not really a “side hustle” if you need a ton of money to actually make money doing this.

OP probably wants to know what he can do on the side that requires little to no outlay.

let me explain although a few people explained it quite well.

I buy the land but let’s say I have never developed a condo building ever in my life. So I partner up with a builder who has built quite a few in the area. I go to him and say hey doood i have this land and zoning as is says i can build 4 unit condo building. you want to chip in some money and partner up as GP in this (of course I get his at-cost for his construction work). The banks like that a guy who has built similar buildings before now has his own skin in the game. so they say yay to the loan.

There are contingencies of meeting deadlines and what not and our pay structure is as GP, allocated by % of invested equity but he makes bonus for hitting certain milestones..

He is the builder or construction company owner- he and his men and his vendors come in and hammer away. 

I am the developer - yes, although i don’t lift a finger at the site, I am. I also do the whole waterfall and equity and GP payment structures and cash flow modeling, etc.  

NOW, after a few successful builds, i don’t need the builder as partner or GP. I just hire him and pay him for his work.

It is very fun and interesting work and you make really solid returns.

If the OP wants to make money and wants to put in 0 work, then well index fund is your only friend.

This is a “side hustle” because you are hustling a bit and I do this side hustle as my side job. My neighbor does the exact same in the area we live in. he’s an MD - the medical doctor MD not some hacksaw managing director at some bank.

Be yourself. The world worships the original.

how is the split between you 2? 50/50? also how do you know which land is good. time it takes to develop. and what is the roi. how much $$ you drop?

I love my cheese. I got to have my cheddar.

not being rude but a RE forum has full of these info and chats….

overview.

the actual construction takes 5-8 months - I do class A/B residential buildings 

i drop 20% of total project costs…may have other equity - LP - investors for a few percentages. LPs make 7% preferred.

split is definitely not 50/50….In no sane world, does GP and LP split evenly. After the 7% hurdle, I make +70% of the remaining profits.

I model at most conservative assumptions to arrive at around 7%. If any of the assumptions go in the right direction, I make more than 7%.

To give you an example, Brooklyn…excluding land acquisition costs, the total construction cost is around $450/SF and avg selling price is $1,300/SF in Gowanus area. 

Be yourself. The world worships the original.

Nice job benzo and thanks for the write up 

"You want a quote? Haven’t I written enough already???"

RIP

7% prefferred return? How can you be sure that this doesn’t change? Sounds pretty risky.

i didnt think ud need an lp. just thoguht it was ur money and land levered with a bank loan combined with their labor.

I love my cheese. I got to have my cheddar.

| need and want LP. It reduces my risk and the upside is greater.

If I were to build say in Texas….7% would be too risky for me because the construction costs may be cheaper but the decrease in costs would not be enough to compensate for the drop in sales $/SF. 

in NYC and surrounding areas though it works quite well because the housing prices are insanely high here.

I only do 1 project per year and only been doing this for a few years so i am still learning a lot.

Be yourself. The world worships the original.

the key to having LP is to find the sweetspot for you where you have the greatest returns given assumptions and likely scenarios by “giving up” preferred returns to the LPs….but what the LPs receive is really a bread crumb…

for example, LPs may get say 5% preferred return but your model may suggest that they take 20% of the financial risks….That to me is free money.

Just use your financial modeling skills and numbers to your advantage. For LPs, they make 7% preferred plus potential for more by just wiring the money….

This is how all other hedge funds, PE, LBO, real estate funds work….Use other people’s money…Look at Tishman’s failed Suy-Cooper Village plan..They contributed less than 1% of equity….99% of equity was LP…LTV was around 80%. SO, Tishman invested 0.2% of total project costs but they were to make 90% of the profits after hitting a hurdle rate…..The project failed but Tishman came out unscathed because after all they only invested 0.2% equity of total project.  Talk about leverage haha.

Be yourself. The world worships the original.

I don’t own a house so I can’t AirBNB and my car is currently unsuitable for Uber or Lyft. Real estate stuff sounds a little sketchy, I don’t want to risk going to jail. I used to do HVAC (basically air-conditioning mechanic), so I know about the trades. I made a ton of money doing that. Plumber is a long hard road and I don’t have the bandwith right now.

Cool, I started looking around and found that I can get a job at Target pretty easily and they don’t mind if I do part time, which is sweet.