This week’s update highlights various strategies worth looking at. If you missed last week’s email you can view it here.
As Interest Rates Push Housing Prices Higher, Even Earning Passive Income from Rentals Becomes Risky
Yahoo published an article last week that highlighted the difficulties real estate investors face. For the most part, landlords are dependant on debt and raising money from banks to fund real estate purchases which are then rented out.
The difference between maintaining the real estate debt and the rental income go towards all other costs they will have. In addition, they have to pay tax.
As the gap between debt and income narrows, many investors face challenges. While many reading may have little sympathy for landlords, readers should take the Yahoo article as a warning that real estate investing to rent is fast becoming no longer viable.
Reddit thread asks what side hustles people have.
From time to time we flag interesting Reddit threads, this one slipped under the radar but it’s worth highlighting. Redditors were asked what their side hustles are. The replies make interesting reading and can plant a few ideas.
Reddior, Blind_squash said “I’m a professor by day and I run a single screen movie theatre by night.”
Eukaryotes dog watches, they said, “I watch dogs! It’s sooo lucrative, especially over the holidays and such. Just watched two very, very lazy dogs for 10 nights and got $750.”
Otacon56 said they run vending machines, “About 5 years ago, I purchased the vending machines in my condo building laundry room. They were broken and sitting there collecting dust for many months. Total purchase price+ repairs = $1000.
I average $200/m in sales and 50% is profit. I only need to put a few minutes each month into them for stocking them.”
If you missed it, we covered a vending machine business at the start of the year.
There a few other good ideas on the thread if you want to check it out.
Top Passive Income Opportunities to Look Out for in 2023
Hackernoon published an article last week on passive income opportunities for 2023. Their readership are more technical focused but the ideas are interesting.
The article gives five ideas for passive income this year. The first, is to buy and sell Web3 TLDs and Domains. The article explains that TLDs are the extension after the dot in an url. Owning that extension means recrurring royalties. The article refers to the marketplace Freename as the place to buy and sell TLDs.
The article mentions other ideas, two of which are interesting – Yield Farming and Cloud Mining. Both these are cryptocurrencies based strategies so if you’re reluctant to get involved, steer clear.
More Articles From Career Step Up
- How To Make Passive Income: 35 Ideas
- Passive Income: 3 Unique Side Hustles Strategies for 2023
- How to Make Money Online For Beginners: 11 Easy Ways To Start
This article was produced and syndicated by Career Step Up.
Featured Image Credit: Shutterstock.
