Creative ways to increase cash reserves?

4 Replies

Wanting to build up my cash reserves over a 1 year period. I am curious if their are options out there that I am unaware of. Looking for examples other than setting money aside from primary job, mutual funds, Treasury funds, CD's, existing rental properties, ect. 

Thank you! 

Hey Justin,

I started going into Property Manager offices and offering handyman services. I then went and registered with some of the Property Preservation companies to subcontract for them. It is good money and keeps you around the real estate business building relationships getting you the inside track for deals.

Pick up free or cheap items on Craigslist/FB Marketplace and flip them. Uber/Lyft on the weekends if you have an eligible vehicle.

@Justin Michael Johnson - I'd recommend picking up a side hustle and saving 100% of that income. Some include drive for Uber/Lyft, walk dogs on Wag or Rover, sell a service you're good at on Fiverr, become a tasker on TaskRabbit. 

There's a lot you can do. However, I would be sure that these side hustles are for a short amount of time. These are typically low dollar per hour tasks that can be replaced with higher dollar per hour tasks once you start building your business.