4 Side Hustles That Make Great Careers
Are you currently pursuing some side hustles to generate extra cash? Maybe you’re still thinking about which side gigs to pursue while considering which ones will make you the most money.
If you want to keep your side hustles part-time, there’s nothing wrong with that. However, some side gigs can become a full-time source of income. If you’re passionate about pursuing any of the following jobs, with commitment, they could become your main source of revenue.
photo/ mohamed Hassan
- Real estate investing
Real estate investing is considered one of the most popular and most lucrative side gigs around. You can generate a large sum of money in a short amount of time when you know what you’re doing. However, you really need to be licensed to generate the big bucks.
Say you live in New York City and you’ve been buying local properties here and there. Maybe you fix and flip or resell when the market is hot. Either way, if you aren’t licensed, you’re losing thousands in profits.
If you are investing in NYC properties, it makes sense to get your broker’s license. It’s not only affordable, but getting your real estate license in New York is easy. You can take a course online from RealEstateU that will prepare you for the exam and once you pass, you’re official.
When you have your license, you won’t have to pay the 5-7% commissions to real estate agents when you buy and sell. The commission percentage is split between the buyer’s broker and the seller’s agent, however. For example, on a $250,000 home sale, that’s going to save you roughly between $6,250-$8,750.
If you’re going to get involved in real estate, get licensed and you can turn it into a full-time source of income.
- Blogging
You can earn a good living blogging if you can come up with a good idea and market to the right audience. If you think of blogging as just a side gig, consider that some of the world’s top bloggers went from being unknown and earning nothing to earning millions of dollars.
For instance, the following blogs have really taken off and are generating some serious cash flow:
- Moz.com – $44.9 million per year
- PerezHilton – $41.3 million per year
- Copyblogger – $33.1 million per year
- Mashable – $30 million per year
- TechCrunch – $22.5 million per year
These are just some examples of top-earning blogs. There are plenty more examples. Each successful blog has a unique angle, high-quality content, and a passionate creator.
If blogging is your idea of a good side hustle, and it’s something you really enjoy, consider turning it into a full-time source of income.
- Affiliate marketing
Affiliate marketing is something many people dabble in, but few go full-force. This is why some people get discouraged and start to think it’s not that profitable. However, affiliate marketing can be extremely profitable when done correctly.
Most people make the mistake of trying to sell just one product or service, and end up doing a bunch of work only to have that product or service disappear, taking their income away.
If you build your website, content, and marketing around a specific product, you’re asking for trouble. However, if you create your web assets to accommodate any product or service, you’ll do better. You can absolutely market specific products and services, but you don’t want to create an entire brand around a particular company’s offerings. You need to be able to switch it up if an opportunity disappears.
- Thrifting
You might be surprised to learn that some people earn over $100,000 per year reselling items they find at thrift stores and garage sales. This can be a full-time gig if you put in the time to develop a system and strategy that works for you.
Being successful with thrifting is not just about luck. You need to know what to look for in the stores based on the resale value. Obviously, name-brand items will be worth more than others, but not all name-brand items are easy to resell. You need to develop an eye for amazing deals, and the ability to price your items right to resell. It also helps to be able to spot extremely rare items that collectors will pay outrageous prices for.
Most importantly, if you can sell locally, you’ll keep more of your profits. You don’t want to have to mail items that cost a lot to ship unless they’re so rare people are willing to pay top dollar for shipping costs.
Turn your side hustle into your main source of income
Are you absolutely passionate about your side gig? Do you wish you could drop your job and keep your side hustle going? You can do both, and you’ll probably be happier pursuing your passion full-time.
Author: Anna Johansson
