5 Ways to Make Enough Side Money to Eventually Quit Your Job

5 Ways to Make Enough Side Money to Eventually Quit Your Job

4 min read
Brandon Turner

Brandon Turner is an active real estate investor, entrepreneur, writer, and podcaster. He is a nationally recognized leader in the real estate education space and has taught millions of people how to find, finance, and manage real estate investments.

Experience
Brandon began buying rental properties and flipping houses at the age of 21. He started with a single family home, where he rented out the bedrooms, but quickly moved on to a duplex, where he lived in half and rented out the other half.

From there, Brandon began buying both single family and multifamily rental properties, as well as fix and flipping single family homes in Washington state. Later, he expanded to larger apartments and mobile home parks across the country.

Today, Brandon is the managing member at Open Door Capital, where he raises money to purchase and turn around large mobile home parks and apartment complexes. He owns nearly 300 units across four states.

In addition to real estate investing experience, Brandon is also a best-selling author, having published four full-length non-fiction books, two e-books, and two personal development daily success journals. He has sold more than 400,000 books worldwide. His top-selling title, The Book on Rental Property Investing, is consistently ranked in the top 50 of all business books in the world on Amazon.com, having also garnered nearly 700 five-star reviews on the Amazon platform.

In addition to books, Brandon also publishes regular audio and video content that reaches millions each year. His videos on YouTube have been watched cumulatively more than 10,000,000 times, and the podcast he hosts weekly, the BiggerPockets Podcast, is the top-ranked real estate podcast in the world, with more than 75,000,000 downloads over 350 unique episodes. The show also has over 10,000 five-star reviews in iTunes and is consistently in the top 10 of all business podcasts on iTunes.

A life-long adventurer, Brandon (along with Heather and daughter Rosie and son Wilder) spends his time surfing, snorkeling, hiking, and swimming in the ocean near his home in Maui, Hawaii.

Press
Brandon’s writing has been featured on Forbes.com, Entrepreneur.com, FoxNews.com, Money Magazine, and numerous other publications across the web and in print media.

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YouTube
Instagram @beardybrandon
Open Door Capital

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(This post was first published on Entrepreneur.com, but they allowed me to re-publish here on BiggerPockets because they rock!)

Nearly everyone dreams of quitting his or her day job, whether it’s tomorrow, next year or in the next decade. However, there is a wide chasm between “dreams” and “action” that many people never seem to cross — and it’s usually due to finances.

Obviously, if you want to quit, you need to find another way to make enough income to pay your bills, save for the future and enjoy life.

But what’s the best way to do this?

How can you make enough “side income” now so you can quit your job in the near future?

Here are five great ways to make side income while still working your day job:

Webinar PNG(Before I get to the post, I wanted to take a moment and invite you to this week’s BiggerPockets Webinar — because it’s on this very topic! We’ll be talking about “How to Quit Your Job Through the Power of Real Estate Investing!” This webinar will be on Thursday, November 19th at 5:00pm Pacific (that’s 8:00pm Eastern, 7:00 Central, 6:00 Mountain). If you can make it, click here to hold your spot! And now back to the post!)

1. Invest in Real Estate

My eyes were first opened to the idea of “passive income” after reading Rich Dad Poor Dad by Robert Kiyosaki. Although not a real estate book, it taught me the value of owning assets that produce income, which led me to real estate. Real estate investing is not always passive — and not always easy — but it can be highly profitable. In addition, there are hundreds of ways to invest in real estate. For example, you could:

  • Flip houses
  • Own rental houses
  • Become a “house hacker
  • Own vacation rentals (AirBnB)
  • Rent out duplexes, triplexes and fourplexes
  • Buy and rent out apartment complexes

Real estate investing is my favorite way to create side income because it runs like a locomotive. It might take a little time to build up, but once it’s running, it goes a long way with less effort and is hard to stop.

network-equals-net-worth

Related: I JUST Quit My Job to Invest: These 4 Lessons Helped Me Get Here

2. Write a Book

Many people have dreams of writing a book, but very few ever do. They think it’s too hard, that they don’t know enough, don’t have enough time, aren’t smart enough or whatever other excuse they can come up with. But the truth is: You can write a book, and that book can help you make additional monthly income.

There are several avenues you can take when writing a book, and there is no “best route.” For example:

  • You could write a series of shorter topic-specific books and publish them on Kindle.
  • You could self-publish through your own website and sell to your existing customers.
  • You could partner with a larger platform and sell to its audience (as I did).
  • You could work to get published through a major publishing company (probably the most difficult path).
  • You could record an audiobook and publish it on Audible.

Writing a book today is not as tough as it once was, as there are so many avenues with which you could publish. The keys are no longer held by elite publishing companies in New York City. The keys are now in your hands.

3. Sell a Product on Amazon

I’m slightly addicted to Amazon Prime, as my local UPS driver can attest to. It seems every day I have a package or two waiting at my doorstep — and it’s usually from people just like you. Most of them probably never touch the product that I’m buying.

That’s right: You no longer need to have a warehouse, inventory or employees to buy wholesale products and sell them at retail. Amazon has leveled the playing field, and now anyone can sell products.

wholesale-buyers-list

A friend of mine, Chris from UpFuel.com, decided to sell products on Amazon. He researched bestselling ideas, contacted a manufacturer in China and had the perfect model designed, and then he had the product shipped to Amazon’s fulfillment center in the United States. He now sells his product on the site, making thousands of dollars a month in profit.

The best part? Chris doesn’t ever touch the product, and it largely runs on autopilot at this point.

4. Sell Your Skills

Chances are you are good at something in the business world. Perhaps it’s accounting, data entry, video production or writing.

Whatever you are good at, there are likely people out there willing to pay you good money to run that part of their business for them. Smart business owners know that they should focus on what they are good at and hire out the rest. This is where you can come in and make side income doing what you love.

In addition to freelancing, you could also become a consultant. For example, my friend Joshua Long turned his knowledge of Infusionsoft, ClickFunnels and other marketing systems into a full-fledged consulting business, where he helps CEOs identify existing opportunities in their businesses.

So what are you good at? What will other people pay you for?

negotiate-deal

Related: How to Quit Your Job & Invest in Real Estate Full Time

5. Start a Blog

Finally, a good way to make side income can be with a blog. Although it takes time to build up a following, once you have that following, there are numerous ways to monetize the blog.

Jeff Rose from GoodFinancialCents.com uses his blog to build up his authority as a certified financial planner, driving traffic and income to his business. At the same time, his blog allows him to monetize in other more passive methods, such as affiliate marketing, online products and consulting.

To succeed at blogging, it’s important that you:

  • Focus on writing quality content.
  • Work hard at getting that content out there to the world.
  • Build your email list from day one, so you can market to those people later.

Blogging is definitely not a “sit at home in your underwear and make easy money” kind of activity. It requires diligence, quality, and time. However, blogging can be incredibly rewarding.

There is one common theme with all of the above methods for making side income. Do you know what it is? They all take work. That’s right, you’ll never achieve the kind of lifestyle you want if you don’t work for it. So get out there today and start hustling. You’ll be able to quit that job faster than you ever imagined.

What side streams of income are you working on?

Let’s talk in the comments section!