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- 🐧 10 remote side hustles to earn $1k/month (part 2)
🐧 10 remote side hustles to earn $1k/month (part 2)
INSIDE: Protips and Real Side Hustle Examples
Dexter Zhuang
December 17, 2023 • Estimated Reading Time: 11 minutes
Our beta program for Remote Side Hustle Profits is sold out! 🥳
Over 60 students applied and we accepted 35 for the beta cohort. Don’t stress if you missed it. I’ll announce future opportunities like this exclusively in this newsletter, so keep on reading!
In 10 minutes or less, you'll learn:
FROM OUR LABS
🌎️ Want to move abroad in 2024 as an American?
I’m excited to partner on a live event with my friends, Maiki and Travis from Coupled Investments, where we’ll uncover our top wealth and health tips for new American expats. 🧠
Date/Time 📅
5:30pm EST, December 18, 2023
Our goal is that this workshop demystifies the confusing parts of living abroad, so you can take ACTION to make your dream a reality in 2024.
Here's everything we'll be covering:
How money and taxes work while living abroad as an expat 🌏
How to build long-term wealth while living overseas 🤑
What tools can you use to manange your finances 🛠️
How to manage your mental and physical health while abroad 🏥
Q&A and much more❓
Don’t miss the valuable insights from this workshop.
Look forward to seeing you there.
Sign up for the workshop: https://lu.ma/llz04prw
P.S. Even if you can't attend live, we'll send a replay to everyone who signs up.
💪 10 Remote Side Hustles to Earn $1k/Month (Part 2)
Last week, we deep dived into remote side hustles #1-5 like consulting and newsletters.
Let’s keep the ideas flowing:
6. Investing in Dividend Stocks
What is it: Purchasing dividend stocks, like the Dividend Aristocrats, which pays a dividend to its shareholders every month or quarter
Platforms: Interactive Brokers, Saxo
Pros: Potential for passive income, consistency
Cons: Market risk, requires a bit of investing knowledge
Example
Morten Sorensen teaches full-time at a Danish university while passively investing in dividend stocks and running Dividend Club
I’ve held REITs like OHI and SRC since 2020 when the market cratered due to Covid, which led to both dividend returns and healthy appreciation since then.
Protip:
Morten recommends using research tools like Stockrover, Investor’s Business Daily, Seeking Alpha, Finviz, Dividend.com, and Dividend History to get started. (I personally like Stratosphere.io too)
7. Investing in Rental Property
What is it: Investing in residential property to rent out for income
Platforms: Airbnb, Zillow, real estate investment groups
Pros: Potential for passive income, property value can appreciate
Cons: Requires significant capital, may need to manage property
Example
Robert Hoving invested in Bali villas and rented them out on the side, while still working for his previous corporate employer before he turned it into a company
Protip:
1. Find a property that you think can be good for investment purposes.
2. Search Airbnb, bookings.com or any other OTA to find the listing to see the current pricing, occupancy and reviews to date. This will give you an indication if the property is investment-worthy.
3. If yes, speak to the selling agent and request a historical rental income report. Which can then be compared to the Airbnb listing. The selling agent can also give more insights into the property.
4. Study the area in which the property is built, to understand what the neighbouring properties look like and charge and look out for construction that may impact rental income.
