Continuing the recently established tradition of monthly round-up posts, here is our October edition.
Our last one provided a wealth of great content from our partners out there, but this month will be specific to one topic – side hustles. How can you start a side hustle today? What are the latest and greatest side hustle ideas for 2018?
I’ve compiled some ideas from around the web that you may have never heard of before.
More Than a 9-to-5
Are you doing anything in your own life to complement the regular 9-to-5? Any goals or dreams around a side hustle? For me personally, it’s collaborating on the future of Home At 30 with Josh. It’s always exciting and challenging to grow and support our reader base while taking care of my day job and life in general at the same time.
Let’s take a look at a few excellent ideas in the side hustle game from our friends around the web. I learned a lot myself researching this one; hopefully, you will too.
P2P Lending – Peerfinance101.com
Right off the bat, here’s a side hustle I had heard about in the past but never looked into. P2P, or peer-to-peer, is a form of lending where individuals finance business ventures and provide loans themselves, for a certain return of interest. P2P has flipped the tradition of going to a bank for a business loan on its head.
PeerFinance101 has an awesome article interviewing a P2P guru who flipped $10,000 over the years just through earning interest on various P2P loans. Higher risk means higher reward, P2P is no different. Jeff Clements, the interviewee in this article, does an excellent job explaining this in simple terms. If you’d like more info on breaking into the personal lending world, look no further.
Domain Name Investing – MillenialMoney.com
Grant at MillennialMoney thinks along the same lines as Home at 30 in many ways. Right up to his blog title, MillennialMoney is dedicated to helping young people achieve financial independence sooner.
There are plenty of strategies and topics Grant covers well on his site. One that I found super interesting (and new to me) was the idea of domain lending.
Domain investing, as the name implies, is buying up a .com, .org, .whatever, and holding it long term as its value rises. Much like investing in stocks, you pick a few domains that you expect to appreciate in value over time. It’s quite simple – an appreciation in value equals money in your pocket, after a certain amount of time.
Grant details how he once bought the MillennialMoney domain for $300 at an auction. After a long period of pushing great content and adding value in the lives of many, he received an offer for his domain name. An investment firm offered him $45,000 for the same digital real estate he bought a few years ago for $300.
Fulfillment by Amazon (FBA) – SideHustleNation.com
Amazon is becoming a bigger and bigger presence in our lives every day. Jeff Bezos has become the world’s richest person this year and has his sights set on transportation around the solar system. With such a huge company, opportunities arise for side hustlers to take advantage and take a piece of the pie as well!
FBA is explained extremely well in this article on SideHustleNation from Travis Scott (not the musician). It comes down to sourcing and listing products on Amazon with a sellers account, then taking a slice of the profits upon sale. It’s not hard to get started with a fulfillment account on Amazon either.
FBA is particularly appealing to folks like me who have an interest in the financial markets. I’m sure the same is appealing to many who read Home At 30 as well. This is because making money with FBA comes down to finding arbitrage opportunities. This means buying low and selling high. There are a ton of strategies you can employ to make sure you are finding the arbitrage and making some quick and easy money on the side.
Buying and Flipping Land – TheLandGeek.com
No, that’s not a typo in the header of this last one. Flipping land was a concept I wasn’t even familiar with until researching and writing up this post. The more I looked into it though, the more interesting and unusual it seems.
Flipping land is pretty simple to describe. Buying property for a set price, holding it, and letting it appreciate in value before selling. I will warn our readers upfront – this site is VERY salesy, and their basic package for learning how to flip property costs $2,000. The overall concepts that are broken down on the foundational learning page, however, can be researched on your own dime. Using just a Google search engine might be wiser than spending a few grand for some books and CDs.
All of that aside, flipping land is a highly interesting idea. Especially for a Boston resident like me, where real estate is sharply on the rise everywhere you look, buying and holding may prove a valuable side gig.
Next’s month’s roundup post will focus on a new topic. Hope you enjoyed our piece on some side hustle ideas for 2018. Get started today and make some side cash of your own!
All opinions expressed on this blog are solely those of Home at 30 and are in no way affiliated with any other organization or institution. The purpose of this blog is to give general education and information about investing, wealth, careers, and college; It is not intended to be professional advice.
Author: Joe Savoia
Joe is a 2014 graduate of Northeastern University and currently works in a field sales role for technology company Acquia. He has worked internationally as one of Acquia’s earliest Australia-based employees and helped in the early stages to develop that region. Today Joe is based out of Boston and lives in Somerville, MA. Joe’s primary interests vary widely, including everything from robotics/AI to finance, blockchain, and the rapidly evolving world of tech we live in.