Ep 28. How Anyone Can Easily Make Extra Money w Side Hustles

27 Replies

Side hustle is a huge buzzword in the FI community. Make extra money on the side doing something fun, something you love, or even just something that pays really well.

Today we bring in Nick Loper, Founder of Side Hustle Nation, to share his expertise about side hustling: What they are, who they’re for, and how to implement one of your own. Nick also shares some of his favorite side hustles, including some surprisingly easy ways to make money.

Listen here or on your favorite Podcast app.

Lot of great ideas. Thanks Scott, Mindy, and Nick

Great ideas shared on the show.  Thanks!

I'm looking forward to checking this out!

Getting wild with the jokes on this one! Lol

I loved the tips and ideas you’ll shared ! Another enlightening episode appreciate what you’ll share !!!

This episode is not currently available on the Google play app for some reason. I look forward to listening to it when it becomes available! Love both the podcasts.

100s of side hustles exist I've always had them one of my first was a coke machine at my Grandparents motels. anything coin operated always gives you that extra hustle. 

nice, I will listen to this on the drive home today 

Originally posted by @Cody Deppen :
This episode is not currently available on the Google play app for some reason.

I look forward to listening to it when it becomes available! Love both the podcasts.

Hi Cody.

I've contacted Google Play to figure out why this isn't showing up. It IS available on Google Podcasts, and just about every podcast app as well. 

Looking forward to listening to this on my ride in the morning!

@Mindy Jensen another great show!  I know of two people who had some pretty serious side-hustle turned full-time income type deals I figured I'd share.

One was my first real 'boss' at age 16.  He owned a small warehouse full of the inflatable bounce houses that Nick talked about on the show.  He was actually one of the first to ship them from CA to FL and start renting them here in the late 90s.  He had me and a bunch of other high school kids deliver and set them up and he made a nice profit while we made about $10-15/hour for a few morning and evening hours Saturday and Sunday driving around town and setting them up.  Also, since he basically started the market here, all the smaller companies bought his units to start after he's used them a few years at about what he paid.  He's gone in and out of other full time employment, but it has been a stable business for their family for likely 20 years.  They have over $60,000 in inflatable bounce house inventory and have quite a few units going out most weekends! As a teenager delivering them, it was a great side hustle for me, and at least one of my classmates who delivered as well bought a couple to rent out on the side of being a firefighter. I remember saving up $275 for a trailer hitch at 17 for my truck so that I could pull his trailer and deliver 4-5 in a day instead of the 2 that fit in my Ranger's bed.  The other classmate/delivery guy at the time is around BP and is a broker/flipper now.

The second hustle I think is genius.  I know a guy who was into street bike stunt riding (mostly on closed course).  He had a constant connection to nice sport bikes that had been flipped backwards, wrecked, slammed into stationary objects, or laid over (almost always with no injury to rider).  He'd buy them all cheap, bring them back to his garage, and take apart every nut and bolt, selling everything that wasn't damaged: wheels, body work, engine and parts.  A lot survives when you drop a bike on its side or smash it upside down.  He'd turn a $800 wrecked Yamaha R6 into $3,000 or more selling part by part on ebay, craigslist, and swap meets and be left with some scrap metal on the mangled bits he'd collect and sort to turn in for money later. He focused only on R6s and as such would every once in awhile get enough random parts to put a whole bike together to sell for a large profit.  The title would be from whatever frame he used and parts from others.  He did two or three that way.  He doesn't do that anymore as his side side hustle got bigger than bike part selling and he has now built up a custom car audio empire out of a rented storage facilitiy unit, building the wild interiors with tvs, LEDs, and speakers everywhere.  It's not my style per se, but he is definitely a 'side hustler'. 

Great topic discussed amongst the ambitious in Florida. If I can add one thing in addition to your great podcast episode, it’s that your side hustle can one day become your full time gig. It’s worth having more than one at any given time in order to make this a possibility.

Overall, great podcast. Thanks for sharing.

This was an interesting episode @Mindy Jensen - although @Scott Trench left one lying on the table - when they were discussing two of the favorite side hustles, when they brought up the sourdough lady, the obvious one was she started that side hustle because she kneaded the dough - bada-boom, bada-bing, oh! :D

Originally posted by @JD Martin :

This was an interesting episode @Mindy Jensen - although @Scott Trench left one lying on the table - when they were discussing two of the favorite side hustles, when they brought up the sourdough lady, the obvious one was she started that side hustle because she kneaded the dough - bada-boom, bada-bing, oh! :D

I cannot vote for this horrible joke. 

Originally posted by @Mindy Jensen :
Originally posted by @JD Martin:

This was an interesting episode @Mindy Jensen - although @Scott Trench left one lying on the table - when they were discussing two of the favorite side hustles, when they brought up the sourdough lady, the obvious one was she started that side hustle because she kneaded the dough - bada-boom, bada-bing, oh! :D

I cannot vote for this horrible joke. 

 Ha! Maybe I've got a future as a podcast co-host! :D

Originally posted by @JD Martin :

This was an interesting episode @Mindy Jensen - although @Scott Trench left one lying on the table - when they were discussing two of the favorite side hustles, when they brought up the sourdough lady, the obvious one was she started that side hustle because she kneaded the dough - bada-boom, bada-bing, oh! :D

 I CAN vote for it dough! 

Eww, not voting for that one, either.

I like this, this is very interesting... It is very timely as I am making plans on what I can consider as my side job...

I guess to make a final decision is to consider something that we are able to joggle along with our hectic sched

I really did like the podcast as a whole. It has got me thinking on how to invest in smaller things before I get my next rental property (and maybe save some cash on the side). 

I liked the part about becoming a Notary Public. I actually looked it up in my state (North Dakota) and read some interesting requirements that I have a few questions about. 

1) It said I have to be a resident of the state. *BACKGROUND* I'm in the military living in North Dakota but am a Texas Resident (Home of Record) and therefore pay Texas state income tax. I do not care to switch my residency for 2 years before I move elsewhere, so I will keep my Texas residency. Does anyone know if this is an issue? Or has anyone dealt with this issue before?

2) There was a $7,500 notary bond along with a $36 application fee. Does anyone know if you get the $7,500 back at some point or is this your true fee for being a notary public?

Thank You,

Chase

Originally posted by @Chase Stocki :

I really did like the podcast as a whole. It has got me thinking on how to invest in smaller things before I get my next rental property (and maybe save some cash on the side). 

I liked the part about becoming a Notary Public. I actually looked it up in my state (North Dakota) and read some interesting requirements that I have a few questions about. 

1) It said I have to be a resident of the state. *BACKGROUND* I'm in the military living in North Dakota but am a Texas Resident (Home of Record) and therefore pay Texas state income tax. I do not care to switch my residency for 2 years before I move elsewhere, so I will keep my Texas residency. Does anyone know if this is an issue? Or has anyone dealt with this issue before?

2) There was a $7,500 notary bond along with a $36 application fee. Does anyone know if you get the $7,500 back at some point or is this your true fee for being a notary public?

Thank You,

Chase

 I think the first issue will be an issue. When I was in the Navy I remember I tried to change my residency in order to pay less income taxes and it was denied. The odd thing, however, was that I was able to get a driver's license in 3 different states during that time - Illinois, Pennsylvania, and NJ. I ended up keeping the PA license until I got out because you got a deal on insurance and registration at that time if you drove a truck. Seems like you shouldn't be able to get a license in a state that you're not a resident of, but I had no trouble in any of those locations.

On your second question you normally don't pay these kinds of bonds yourself. You pay a bond company that issues it on your behalf and you pay them for the privilege. Don't know what the cost is but it's probably not more than $100 or so annually; otherwise I suspect a lot of notaries would just give it up. 

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