5 Ways To Make Residual Income
Would you like to earn extra income as you enter 2018? If you answered yes, then this article is for you. Weather you love or dislike your current job you can make some extra money by starting a side job or creating your own business. I know many people who take the initiative to follow their intuition and did it! When you take the leap, the reward is amazing and you don’t have to spend a lot of money to get started. Here are five ways to start a side hustle and get that Monee!
Here are 5 jobs to get you started to make some extra money:
- Blogger- Too easy, all you need to get started is a domain name (your business/website name), hosting site (a company where your site is hosted for web search), for this you have options (Go Daddy, Host Gator, Blue Host and cost less than $100 to get started. You can utilize YouTube videos (FREE) to build your website, get discount for your domain and hosting as I did. Next, is your niche (something that you are good at, designing, parenting advice, relationship advice, home décor, fitness, finance etc.) the list is endless. Now all you need to do is write and post, it’s that simple.
- Group Exercise Instructor– I am a certified group instructor with Athletics and Fitness Association of America (AFAA) and it cost me under $300 for the course material, live instruction and the test. The additional requirement needed is a CPR/ADED certification that you can get through your local fitness centers, American Red Cross (discounts for military, students and seniors). This is another easy side income if you love to motive others, dance and enjoy fitness. There are other companies that you can use, National Academy of Sports Medicine (NASM), American Council on Exercise (ACE) to name a few. When you are certified you can teach at a health club, create your own online home workout videos, (YouTube) or local traveling fitness business, boot camps and you set your own price. You can find a lot of inspiration and ideas on social media.
- Notary- Easy money right here, depending on your state/location. I did this when I was in North Dakota and it cost me under $150 for the application, insurance (State Farm Notary insurance), notary stamp, and registering my notary name with the state. The link has 10 steps to become a notary, https://www.nationalnotary.org. After you receive your notary license from your state, you can promote your business by registering on 123notary.com. You can notarize a variety of items such as documents, real-estate signing agent (need printer, paper and ink).
- College Teacher- Many university and colleges are looking for new adjunct teachers for online or in class sessions. You need a minimum of a master’s degree, strong resume and cover letter; teaching experience is preferred but not required for all. Cost nothing for you, all you need is a passion to teach and educate others and a computer. When you are hired, you have the potential to earn $1500 to $2600 per class depending on the school. Checkout the link to get more information on adjunct teaching opportunities, https://www.indeed.com
- Property Manager- It all depends on your state and don’t worry, the National Property Management Association (NPMA) is your guide to get started. Click on the link npma.org for course description and registration process. There are three certification levels ranging from specialist to manager with a starting price of $285 including course material. You can get the course done in class or online. After completion of the course, the expiration of your certificate depends on which certification you opted for. For example, if you selected the specialist package then you have 5 years to renew.
As a Property Manager (PM), you can charge 10% to 20% of the rent depending on the type of property i.e., house, commercial, of apartment complex. Let’s say you manage three properties with a rental cost of $1500 each and a 10% monthly commission fee, at the end of each month your take home profit is 1500*.10=150*3=450*12 (months) =$5400. If you manage a bigger property and charge a 20% commission then you are bringing an extra $10,800 per year of residual income. I know what you’re thinking, where do I sign up?
Remember no excuses, make time for the things that will add value to your life and takes you to the next level. The five jobs listed are easy start, pick one and earn some residual income. So what are you going to do?
What are some other jobs that a person can start to earn residual income?
“Motivation Accountability Change”