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Alternate Income Streams
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ontrider
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PostPosted: Jan 23, 2008 10:44 am    Post subject: Alternate Income Streams Reply with quote

I like the business forum idea, but there isn't much activity here usually. So I'm curious, any of you entreprenuers out there. What do you do for secondary income besides your normal jobs? I like to sell "Build Wealth Videotape Series" on Ebay. No I'm kidding... but what kinds of things do you invest in or anyone run a business on the side?
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Tyler T
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PostPosted: Jan 23, 2008 12:13 pm    Post subject: Reply with quote

Once I get set in my career, I plan to open a home based recording studio (unless I end up with too much money and can afford to open business location Laughing ).

Everything that will be in it will be stuff that I already have/would have bought anyway and if I don't make any money, at least I will still be having fun and I can write off the expenses.

Maybe that wasn't the answer you were looking for. Laughing

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ontrider
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PostPosted: Jan 23, 2008 12:56 pm    Post subject: Reply with quote

No that's cool. If it's something you like doing and can make money off of without it being a 'job' all the better. I'm going to be setting up a music room in my new house in the fall, nothing like you've got but I'll probably be looking for ideas.
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oshensurfer
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PostPosted: Jan 23, 2008 2:17 pm    Post subject: Reply with quote

I'm dabbling in Real Estate. Nothing to fruition yet.....
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Wakebrad
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PostPosted: Jan 23, 2008 2:25 pm    Post subject: Reply with quote

I've thought about residential real estate. I have a friend who's buying cheap houses just south of Dallas and Section 8ing them. It sounds like he has a pretty solid plan and a good area scoped out.

Ont already knows this but I build websites for a couple extra grand every year. Oh, and jiggalo.

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jhilly8982
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PostPosted: Jan 23, 2008 4:00 pm    Post subject: Reply with quote

ontrider, in college during the summer the new trend in garages was to have your floor sealed with epoxy by "pros" like home depot contrators. They charged $2-4 per square foot with the average two car garage running 1000sq.ft and 1500-2000sq ft for 3 car garages. Well you can buy essentially the same epoxy sealant for $50 bucks a gallon, 2 gallons covering the entire floor, add in supplies (paint rollers) $40 and you can charge around $1 sq foot and still maintain a huge profit margin. It also helped that my parents owned a power washer, which is mandatory.

I printed out flyers and dropped them off in newspaper boxes to around 500 houses, got around 10 call backs did about 6 jobs from the call backs and did 3 more on referrals. When doing a job it is also a good opportunity for upselling, such as recommending other improvements to their garage like building shelves, painting drywall etc.

Oh yeah, it takes about three days to do one garage floor but around 1-2 hours of work a day (floor has to be washed 1 day, dried 1 day, sealed 1 day) At the end of the summer i had spent most of the money at the bar and on stupid things but i pulled in around 6-9k total in just working hours after my 9-5 summer job.

Not sure if this is something you would be interested in but it worked for me.
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oshensurfer
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PostPosted: Jan 24, 2008 9:00 am    Post subject: Reply with quote

jhilly8982, NICE! I placed and finished concrete in college for extra dough using a similar plan.
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jryoung
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PostPosted: Jan 24, 2008 9:32 am    Post subject: Reply with quote

Tyler T wrote:
Once I get set in my career, I plan to open a home based recording studio (unless I end up with too much money and can afford to open business location Laughing ).

Everything that will be in it will be stuff that I already have/would have bought anyway and if I don't make any money, at least I will still be having fun and I can DEDUCT the expenses.

Maybe that wasn't the answer you were looking for. Laughing


FIFY (you deduct expenses, and write off bad assets)

But the in home studio is a good idea because that portion of the home and a ratable portion of the home expenses become deductable.

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shane515051
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PostPosted: Jan 24, 2008 12:40 pm    Post subject: Reply with quote

We dabble in realestate slowly and carefully and it has paid off really well. We also are always looking for things that would be a (NICHE) market. We have started four companies and two of them have done very well. We just had to get to the point that we weren't opposed to doing anything as long as it was gonna make money. Always ask questions and more importantly listen!
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jryoung
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PostPosted: Jan 24, 2008 1:27 pm    Post subject: Reply with quote

shane515051 wrote:
We just had to get to the point that we weren't opposed to doing anything as long as it was gonna make money.


So you have no morals when it comes to making a buck?

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oshensurfer
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PostPosted: Jan 24, 2008 1:36 pm    Post subject: Reply with quote

jryoung, so you have a problem with selling babies?
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pet575
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PostPosted: Jan 24, 2008 2:50 pm    Post subject: Reply with quote

I just started a business with a buddy of mine who was a mortgage broker for the past 10 years. It is credit restoration. Basically, I am the legal brains who knows how to work the Fair Credit Reporting Act provisions to remove derogatory or old info from your credit so that when you go to buy/refinance a home or look to buy a car or a boat your credit score will be as high as possible when reported by the Big 3 credit bureaus. I write threatening letter and they remove bad/old thing from credit reports.

My partner's experience in the mortgage biz means he has tons of contacts with people who are still brokers. They want to sell a mortgage, their clients want to either get a loan or get the best rate possible, and we service both their needs at once by scrubbing the garbage off of their credit. So, for a small fee, we help boost up their score and it is worth a few hundred bucks to them at closing to get a good rate. We aren't marketing to individuals, we're having the middle man (the mortgage broker) recommend our services.

Everyone wins, except for the mortgage companies but F*CK them anyway. They've made (and will continue to make) enough money off of people over the years.

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chavez
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PostPosted: Jan 24, 2008 3:54 pm    Post subject: Reply with quote

pet575, that is a great side biz. Seriously, props.
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ontrider
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PostPosted: Jan 24, 2008 3:57 pm    Post subject: Reply with quote

chavez, agreed 100%! Because I bet he'll have a bunch of repeat customers too. Laughing
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chavez
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PostPosted: Jan 24, 2008 3:58 pm    Post subject: Reply with quote

ontrider, so true... Laughing
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brew
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PostPosted: Jan 24, 2008 7:02 pm    Post subject: Reply with quote

I'm flipping houses on the side and also looking at a few business ventures. Doing fairly well so far.
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ontrider
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PostPosted: Jan 24, 2008 7:31 pm    Post subject: Reply with quote

brew wrote:
I'm flipping houses on the side

Tell Kirsten I said hi.
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brew
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PostPosted: Jan 25, 2008 1:52 pm    Post subject: Reply with quote

Quote:
Tell Kirsten I said hi.


I live in the "low rent" section of the US, so I don't think she'll be paying me a visit anytime soon.

It has been a very good way to make money lately with all the foreclosures flooding the market. Most purchases have been a simple repaint, recarpet, clean, and put back on the market.
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Rhawn
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PostPosted: Jan 31, 2008 9:07 am    Post subject: Reply with quote

I've tried a couple things to get some secondary income streams going. I tried internet retail via dropshipping = failed. But sticking with it I found some things that have worked/are working.

Affiliate Marketing, Web Design, Search Engine Advertising and Marketing.

www.joogleweb.com

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ontrider
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PostPosted: Jan 31, 2008 9:24 am    Post subject: Reply with quote

Rhawn, good stuff. Wink I've been considering buying some domains recently too. I hate when people buy up crap that I need/want.

I just noticed the site... I'll check that out. Is that a joomla template?
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vette74
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PostPosted: Jan 31, 2008 9:32 am    Post subject: Reply with quote

I bought and sold a few houses in the past. Now I am starting to do engineering work for small time developers or someone who is building a new building or whatever and actually I have been getting a lot of calls lately. I also trade the FX market with a small account.
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Rhawn
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PostPosted: Jan 31, 2008 9:35 am    Post subject: Reply with quote

ontrider, buying domains to resell? Or for you to use? There a couple programs out there that audit all of the existing domains, and their renewal status. You can snipe alot of $$ domain names.

Yes we use Joomla CMS along with RocketTheme templates.

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ontrider
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PostPosted: Jan 31, 2008 9:49 am    Post subject: Reply with quote

Rhawn, yes for resale.
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spyd4r
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PostPosted: Feb 01, 2008 4:30 am    Post subject: Reply with quote

I have been thinking of doing some freelance photography on the side, I won't do portraits though =)

Of course, I have never even attempted selling photos yet, but its something I would like to get into.

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arof
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PostPosted: Feb 02, 2008 12:43 pm    Post subject: Reply with quote

I've though about buying a decent tax return program, advertise VIA facebook, and do student tax returns during April.
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ontrider
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PostPosted: Mar 19, 2009 4:30 am    Post subject: Reply with quote

juston12, questions.

1. What country are you from?

2. How much do you get paid to spam message boards?

3. Do you think this is legitimate SEO work?
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Rhawn
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PostPosted: Apr 14, 2009 5:47 am    Post subject: Reply with quote

Let me go ahead and answer for good ole Juston12.

1. India or Costa Rica
2. I'm banking he sells "Do Follow links on 50 PR 3+ sites for $12" over at digital point
3. Although this isn't a relevant topic site, his keyword rich link is sitting in his signature for about a month now X 4 posts.

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bjeremi
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PostPosted: Apr 14, 2009 6:38 am    Post subject: Reply with quote

A buddy and I opened up a LA Boxing here in Tulsa, OK. More his than mine but I have a vested interest. Actually doing pretty good even with the crappy economy. I rise in MMA popularity seems to be helping out.
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logan
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PostPosted: Apr 14, 2009 7:47 am    Post subject: Reply with quote

A buddy and I started a wakeboard school in our town. Everybody pretty much lives within 10 minutes of the lake, the pizza place that is walking distance from the largest sub division has our flyer taped to every box that leaves the place, made a myspace for it and whatnot.

The way we see it, there aren't expenses for us. We have the boats, we are buying gas anyway. If somebody comes out we just got reimbursed and now have money for beer! Sounds like a win-win to us!

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Rhawn
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PostPosted: Apr 16, 2009 7:25 am    Post subject: Reply with quote

logan wrote:
A buddy and I started a wakeboard school in our town. Everybody pretty much lives within 10 minutes of the lake, the pizza place that is walking distance from the largest sub division has our flyer taped to every box that leaves the place, made a myspace for it and whatnot.

The way we see it, there aren't expenses for us. We have the boats, we are buying gas anyway. If somebody comes out we just got reimbursed and now have money for beer! Sounds like a win-win to us!


That's awesome, very smart.
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ontrider
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PostPosted: Apr 16, 2009 8:06 am    Post subject: Reply with quote

Rhawn wrote:
Let me go ahead and answer for good ole Juston12.

1. India or Costa Rica
2. I'm banking he sells "Do Follow links on 50 PR 3+ sites for $12" over at digital point
3. Although this isn't a relevant topic site, his keyword rich link is sitting in his signature for about a month now X 4 posts.


Hi Rhawn, welcome to wakeboarder.com.

I wood like 2 tell you about my ecsperienses on digital point forumz. I have already made many hundrds of thsands dollars with link spam and logo dezign contests for $8. My famly basicaly lives in a castle thanks mostley to digital point.

If ur company would like to contact me via skype ASAP!!!!! I will not let you down and will produce you the best 200 SEO link you can imagine!!!!

Sincerely,
Najir.


Laughing
I got an email from some Indian guy last week telling me he would get me 100,000 blog and message board links. Shocked
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flixmaster
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PostPosted: Apr 16, 2009 12:51 pm    Post subject: Reply with quote

I get them all the time.. I get calls from SEO magic companies every week..

Those are REALLY fun phone calls for me..

Links and everything.

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_bruky
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PostPosted: May 30, 2009 10:08 pm    Post subject: Reply with quote

I've been flipping domains for a few years. I ditched playing the stock game but I missed the excitement and started attending domain auctions. More so a hobby, but it's lost its zing and I'm down to one last domain that is worth about what I'm paying to maintain it.

In the past I purchased a few which had returns in excess of 80X. I've purchased and sold approximately 800 domains.

I've always been interested in history. My father has been collecting and auctioning rare books and pamphlets ever since I was in diapers and I've gotten fairly involved in the hobby as well over the past few years. I prefer this because it's a bit more amusing than flipping domains. The treasures are often found in cobwebs and the incentive to build upon existing knowledge never ends, unlike the domain game in which one can visit a forum and become a guru. ie: abc.com has three grade-A letters, and is worth via online auction-block calculator $1,000,000.00.
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polar21
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PostPosted: Sep 18, 2009 4:51 am    Post subject: Reply with quote

I am new to the board but outside of my 8-5 accounting job I clean boats (props/rudders/thru-hulls) on the side for some gas money. It has worked out pretty good so far averaging a couple hundred bucks a month that I enventually throw right down the toilet on golf and fishing junk.
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GnarShredd
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PostPosted: Apr 28, 2010 12:00 pm    Post subject: Reply with quote

Does anyone have any new additions to this? It seems to me that there HAS to be a better use of 2 hours in the evenings than playing xbox.

Any suggestions as to some at-home things I could get involved in during the week (something online maybe?). I just started selling stuff on ebay and it's at least giving me some gas money, but it'd be nice to have a steady stream to at least pay a bill or two if I have the extra time anyway. (Weekends I'm usually working on the house the whole time, she's almost 90 years old and needs attention!)

Flipping domain names would have been great a few years ago, but that seems kind of dried-up to me. Do those of you with experience in that feel the same way?
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