Right next to the Hollywood Walk of Fame, in the beating heart of Hollywood, is a penthouse that transcends the ordinary, and comes with a touch of star-studded allure.
Set in the landmark building known as The Broadway Hollywood at 1645 Vine St, the loft-style condo with soaring ceilings is owned by none other than actor and comedian Danny McBride, best known for his distinctive comedic style and memorable roles in hits like Eastbound & Down and Pineapple Express.
But not for long, as The Righteous Gemstones creator/actor has listed it for sale, asking $1,795,000 for the 2,149-square-foot duplex condo. Deedee Howard of The Agency holds the listing.
McBride is by no means the only celebrity to live at the Broadway.
The star-studded Broadway Hollywood building was home to countless bold-faced names, including actors Charlize Theron and Jason Statham, Jane’s Addiction guitarist Dave Navarro, and Wilmer Valderrama and his fellow That 70s Show castmate Danny Masterson.
Inside Danny McBride’s penthouse at The Broadway
Recently renovated, McBride’s penthouse is a swanky one-bedroom, two-bath spread with an industrial loft style with exposed ductwork.
From the Hollywood sign to the rolling hills and the iconic Capitol Records building, each view offered by the duplex condo’s sleek glass windows is a cinematic experience.
Key facts & figures
Bedrooms: 1
Baths: 2
Square footage: 2,149 sq. ft.
Price: $1,795,000
Price/ sq. ft: $1,128
Building amenities: newly finished, rooftop pool area with a hot tub, a fitness center, world-class 24-hour staff, secure access, and two parking spaces with 24-hour valet service
Sleek design and lofty spaces
Lofty spaces, gallery walls for art, and soaring ceilings create an inviting ambiance, reflecting McBride’s eclectic tastes and appreciation for aesthetics.
Live/work in style
Beyond its aesthetic appeal, the penthouse is a live/work space that mirrors McBride’s dynamic career.
See also: James Franco’s former West Hollywood digs — Next to the Chateau Marmont
A chic media room with a projector, an open kitchen with high-end Viking appliances, and an industrial staircase leading to the primary ensuite bedroom loft make this space a versatile canvas for both relaxation and creativity.
Lofty living
The primary ensuite bedroom loft, with its walk-in closet, stunning marble bath, and private outdoor terrace with an inviting fireplace, adds to the appeal of this city gem.
Rooftop retreat & private balcony
Residents, including the comedic genius himself, can indulge in sunsets from one of the cabanas at the rooftop pool area. The newly finished space includes a hot tub with breathtaking hillside views and an adjacent fitness center.
The penthouse also has its own private outdoor terrace with a fireplace that’s perfect for enjoying the city’s vibrant nighttime lights.
Upscale living, Hollywood style
World-class 24-hour staff, secure access, and the convenience of two parking spaces with 24-hour valet service add to the appeal, but it’s the location that trumps all other attributes.
Proximity to the Entertainment District places renowned establishments like Katsuya, a vibrant Sunday farmers market, and a Trader Joe’s just steps away.
And let’s not forget that the world’s biggest stars are literally at your feet as soon as you step out of the building, with the Hollywood Walk of Fame right outside its doorsteps.
This property falls under the Mills Act, adding a layer of financial appeal to this Hollywood gem.
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It’s notoriously exhausting to find housing in L.A., but landing a place in La La Land is always worth the endeavor. To expedite the process for you, we’ve rounded up some of the best apartments in Los Angeles, all of which offer amazing amenities and an unparalleled city experience.
Whether you’re looking for towering luxury complexes, lowkey Hollywood bungalows or something in between, we’ve got you covered.
Here are the top 25 apartments to rent in Los Angeles.
Situated in one of L.A.’s most beloved neighborhoods, Radius Koreatown offers some pretty sweet amenities. Here, you’ll have in-unit laundry, pristine hardwood floors, incredible city views, a gym and a pet grooming service at your disposal.
Plus, Radius is also within walking distance to the Wilshire / Normandie and Wilshire / Vermont Los Angeles Metro subway stops, as well as unique bars and Korean restaurants.
To begin, tucked between iconic neighborhoods like Silver Lake and Koreatown, CitiZen offers spacious, sunlit floor plans overlooking Virgil Village’s burgeoning creative scene.
Equipped with amenities like a swimming pool, fitness center, private balconies and coffee club, this community offers Angelenos a mix of luxury and affordability that’s hard to find elsewhere.
Yes, the average one-bedroom apartment in Los Angeles will run you $2,976. However, CitiZen offers two-bedroom floor plans starting at $2,890 per month.
This massive, glittering highrise is aptly named — one-bedroom floor plans start at, well, almost $10,000 per month. Tucked away at the edge of Beverly Hills and Century City, these luxury apartments not only come furnished upon request but also boast amenities like basketball courts, a swimming pool, business center, tennis courts, sauna, barbecue area and clubhouse.
Nestled in the very heart of Koreatown, The Vermont is hard to miss. This sprawling glass highrise offers Angelenos everything they might need, including a swimming pool, a newly renovated interior and a rooftop lounge. Also, cats and dogs are welcome here, too (with a $500 deposit per pet).
First off, with views overlooking Koreatown and the Hollywood Hills, St. Andrews Manor possesses a distinct historic charm reminiscent of the East Coast. This red brick building has a fully renovated interior and custom cabinetry to add to its charisma. Also, rental prices include all utilities, and it’s dog- and cat-friendly.
Angelenos looking to live in luxury are sure to find everything they need at the Orsini. This elegant, Mediterranean-inspired building offers studio, one- and two-bedroom apartments boasting nine-foot ceilings and private balconies to boot.
Situated between Downtown and Echo Park, it’s hard to beat the Orsini’s location. Tenants can easily stroll up Sunset to grab a cappuccino at Eightfold Coffee, drive Downtown to restaurants and bars or catch a baseball game at Dodger Stadium.
Located in L.A.’s Westwood neighborhood, the Den on Levering is the perfect mix of modern luxury and Westside charm. The Den offers residents decks with sprawling views. Also, the fireplaces and sophisticated granite countertops are a perfect addition. Plus, it’s minutes from the University of California Los Angeles and Westwood Village, hugging the 10 and 405 freeways for easy access to the city.
The Glendon is another Westside luxury apartment complex, boasting amenities like an edgeless infinity pool and walk-in closets. Also, and don’t forget to check out the stunning courtyard — it is home to a soothing trickling fountain, plus elegant outdoor foliage.
Located in the northern section of Hollywood, Fleur de Lis, built in the 1930s, is a true Art Deco gem. This beautiful building consists of two duplex penthouse apartments, as well as studios and one-bedroom floor plans. Utilities come included in the rental price at Fleur de Lis.
Steps away from the Hollywood Walk of Fame, the Havenhurst is slightly reminiscent of Parisian apartments, complete with an elegant courtyard and water fountain. The Havenhurst offers affordability at the heart of Hollywood’s hustle and bustle, making it perfect for those looking to explore L.A.’s extraordinary entertainment scene.
Spacious and modern, Junction 4121’s floor plans are streaming with light trickling over the Hollywood Hills. New hardwood flooring and Instagram-worthy appliances are just some of the perks of living in this swanky apartment complex; it’s located in Silver Lake, one of L.A.’s most sought-after neighborhoods. Be aware that the price here is much steeper than average (a one-bedroom will run you between $3,109 and $4,027 a month).
If you want to live in La La Land à la Zooey Deschanel, look no further. Much of the hit series “New Girl” was filmed at Binford Lofts, an industrial warehouse-turned-loft in the middle of the Arts District. Exposed brick, concrete beams and open floor plans give these apartments their distinct flair. All in all, you will find easy access to breweries, coffee shops and art spaces here — making it the ultimate place for creatives to call home.
Barrington Plaza will make you feel like you live in a five-star resort year-round. Spacious, modern interiors complete with balconies give this Silicon Beach property its home-like touch. Additionally, check out the Olympic-sized swimming pool, tennis courts, basketball courts and breakfast bar — a perfect touch to everyday living.
Surrounded by lush greenery, a swimming pool and a serene courtyard, the Fontenoy feels like Hollywood’s very own hidden garden oasis. A studio will average $1,695 per month here, while a two-bedroom penthouse suite goes for $3,050 per month.
Conveniently located near the 10 Freeway, Zoe Loft Apartments offer sophisticated, modern interiors and proximity to L.A.’s major shopping destinations, like the Grove, Platform and Beverly Center. In addition to its location, this complex also boasts a rooftop deck, expansive city views and a swimming pool.
Nature lovers will feel right at home in Rancho Los Feliz, due to it bordering the famous Griffith Park and the Los Angeles River. Canopied with lush trees and greenery, this complex also offers easy access to the Los Feliz golf course and unparalleled shopping and dining experiences in Atwater Village, too.
LEVEL Furnished Living apartments are just about the best Downtown L.A. has to offer, with open-concept floor plans, gourmet kitchens and envy-inducing city views. It’s walking distance from much of DTLA’s historic theaters, bars, restaurants and shops. Plus, it’s equipped with top-of-the-line fitness and wellness centers.
First, Park La Brea promises a proprietary blend of “luxury, recreation, culture and convenience,” and it definitely lives up to its word. Outfitted with granite countertops, parquet wood floors and a saltwater swimming pool, Park La Brea is a true Mid City gem. Plus, these apartments are right across from the Grove shopping center and the Los Angeles County Museum of Art.
L.A. techies live large at Playa Summit, which flaunts features including soaring cathedral ceilings, an in-complex movie theater, a library, a clubhouse and fitness centers. Though Playa Summit is close to the action of Silicon Beach, it’s located in a quiet neighborhood, so you don’t have to sacrifice serenity for convenience.
Firstly, charming, tree-lined bungalows in the middle of Hollywood are just about as good as it gets. Hollywood Off Vine is just minutes away from this iconic neighborhood’s landmarks, as well as everyday necessities like restaurants, shops and parks.
Firstly, Piccadilly might as well be named the Koreatown Castle because that’s precisely what this beautiful building looks like. Complete with peaked towers and elegant archways, Piccadilly resides in Koreatown’s calmer quarters, making it a prime location for K-Towners who enjoy their peace and quiet.
Heads up, jet-setters: If you’re a frequent flyer, consider Concourse, a resort-style community close to Los Angeles International Airport. Choose from furnished or unfurnished apartments and enjoy the complex’s swimming pool, hot tub, state-of-the-art fitness center and coworking lounge. Some units are co-living suites, while others are for those flying solo.
The Barclay is yet another historic Koreatown icon. Complete with an elegant courtyard and renovated interiors, you’d never guess this building is pushing 100 years old. You can find studio, one-bedroom and two-bedroom floor plans here, ranging from $1,025 to $1,795+ monthly.
The Langham Apartments are just a stone’s throw away from the Barclay. Additionally, they offer a similarly elegant, luxurious feel with a twist of affordability. Come for the Hollywood royalty-era nostalgia; stay for the views. Oh and, all utilities are included here.
North of Koreatown, Gramercy Towers apartments are the peak of classic luxury and modern comfort. All in all, one step into the building’s lobby transports you back to the roaring 20s, while the building’s spacious floor plans and sweeping city views remind you: You’re here now, and you made it to L.A.
The best apartments in Los Angeles
Life in L.A. might move fast, but there’s nothing like coming home and winding down in one of the city’s most sought-after apartments. From upscale penthouse views to historic K-Town charm, each apartment offers an extraordinary taste of SoCal city life that’s hard to find elsewhere. Find apartments for rent in Los Angeles today.
We looked at all available multifamily rental property inventory from January to June 2021 on Rent. to determine which properties with a Los Angeles mailing address are most viewed by organic internet searches. The information included in this article is used for illustrative purposes only. The data contained herein does not constitute financial advice, availability or a pricing guarantee for any apartment.
As noted, the 2024 conforming loan limit has increased to $766,550 for one-unit properties.
This is the result of home prices rising 5.56% between the third quarters of 2022 and 2023.
Specifically, seasonally-adjusted nominal house prices from the expanded-data FHFA HPI are used to determine annual home price appreciation.
While it’s yet another increase, it’s nearly half the increase seen from 2022 to 2023, a sign of slowing home price appreciation.
Home prices still went up over the past year, but as mortgage rates more than doubled before surpassing 8%, the gains expectedly slowed.
But even if home prices decline in the future, this baseline loan limit will not decrease. Rather, it would remain flat, and would need to “make up” any losses before it could increase further.
This happened from the third quarter of 2007 until the third quarter of 2016, with the 2017 loan limit increase breaking nearly a decade of unchanged limits.
Tip: While VA loans no longer have loan limits if the borrower has full entitlement, these FHFA limits apply if they have remaining entitlement.
Also note that FHA loans have loan limits set at 65% of conforming limits in low-cost areas, while the high-costs areas are set at 150%.
Avoid a Jumbo Loan by Staying At/Below These Limits
Beginning January 1st, 2024, you’ll be able to get a loan amount as large as $766,550 backed by Fannie Mae or Freddie Mac.
This is important as the pair allow down payments as low as 3% with a 620 FICO score, and have more flexible underwriting guidelines compared to jumbo loan lenders.
Meanwhile, a jumbo loan lender may require 20% down and a FICO score of at least 660.
Additionally, conforming mortgage rates tend to be cheaper than jumbo mortgage rates, though this trend reversed for the past few years before normalizing recently.
Regardless, it’s generally easier to get a conforming home loan than it is a jumbo loan, so it can be beneficial to stay at/below these limits.
As you can see, the loan limits are even higher if it’s a duplex, triplex, or fourplex, with loan amounts as high as $1,474,400 accepted.
High Cost Loan Limits for 2024 Exceed $2 Million on Multi-Unit Properties
But wait, there’s more! The loan limits are even higher in high-cost areas of the country.
These are defined as counties where 115 percent of the local median home value exceeds the baseline conforming loan limit.
The ceiling (maximum) for these high-cost limits is set at 150 percent of $766,550, or $1,149,825 for one-unit properties.
But they can also fall between the baseline and the ceiling depending on median home value.
This means a borrower in Los Angeles will be able to get a high-balance conforming loan for $1,149,825, while a home buyer in San Diego could get a slightly lower loan amount of $1,006,250.
Or in places like Denver, it’s just slightly above the baseline limit at $816,500.
This is why it’s important to know your county loan limit before you look for a home. Or if you’re a real estate agent, you can use these limits to set a strategic listing price.
Also note that loan limits are higher (set at the ceiling) in statutorily-designated areas including Alaska, Hawaii, Guam, and the U.S. Virgin Islands.
So a prospective home buyer in Maui or Anchorage can get a $1,149,825 loan on a one-unit property and won’t have to worry about it being subject to jumbo loan underwriting.
The FHFA said the conforming loan limits will be higher in all but five U.S. counties or county equivalents.
There are over 3,000 counties or county-equivalent jurisdictions in the United States, with roughly 100 to 200 of them qualifying for high-cost limits.
You can see the full list of 2024 loan limits here.
A 2,855-square-foot unit is up for grabs in one of only a few condominiums located on the prime stretch of Central Park West.
And it has a coveted perk that’s hard to find in the middle of a bustling city: Park views from nearly every window!
The corner unit is located directly across the street from Central Park, between 88th Street and 89th Street on the Upper West Side, surrounded by lush greenery that can make you forget you’re in the very heart of one of the world’s busiest cities.
The condo unit is in the 279 Central Park West building, a 24-story, full-service condo designed by acclaimed architect and designer Costas Kondylis.
If the name sounds familiar, that’s because the prolific architect helped shape the New York skyline, designing over 85 buildings, many of them for former U.S. President Donald Trump. Specializing in luxury buildings and residential skyscrapers, Constantine “Costas” Kondylis was President Trump’s go-to designer, before passing away in 2018.
The 3 bedroom, 3.5 bathroom duplex home — listed for $7,750,000 with Harriet Kaufman of Coldwell Banker Warburg — offers kitchen and entertaining areas on the lower level and private bedrooms on the upper level.
The 279 Central Park West condo welcomes guests and residents with a charming foyer with a powder room, before leading them into an expansive 35-foot living and dining area, adorned with oversized bay windows that open up to panoramic Central Park views.
The oversized kitchen features top-of-the-line appliances, plenty of storage and counter space, and a large eat-in area with a south-facing window.
An elegant staircase then leads to the upper level, where we find the condo’s 3 bedrooms (all featuring en-suite baths) and a home office.
Future owners of the 279 Central Park West condo will get to enjoy the building’s many amenities, which include a gym, indoor/ outdoor playroom, bike room, and private storage.
But the biggest draw is by far the building’s stellar location and proximity to Central Park and all the best New York City has to offer.
And if extra bragging points are needed, a Rockefeller also lived in the building.
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Inside: Are you looking for ways to make money on the side? This guide has everything you need to know about the best side hustles for men. From turning your passion into profit with these gig ideas!
In this post, I collaborated with my husband. Together, we combined our ideas and expertise after work to generate ideas centered around how men specifically can make money. His input and insights were remarkably vital to this post.
Break free from the 9-to-5 grind and embark on a journey towards a fulfilling side hustle – it’s a game-changer for gentlemen looking to beef up their bank accounts.
In the ever-evolving landscape of side hustles, now is your year to supercharge your earnings. There’s a treasure trove of opportunities waiting for you to delve into, all while indulging in your passions. From tech-savvy endeavors to unleashing your creative genius and practical gigs that pay, our guide is here to unveil the ultimate side hustles that can set you on the path to financial triumph.
Ready to boost your income? Fantastic! You’re on the path to prosperity.
Here, we’ll explore the 40 best side hustles for men in 2024.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Embracing the Hustle: Why Men Should Consider Side Hustles
Side hustles are more than mere cash generators – they’re the keys to a world of freedom, flexibility, and endless growth potential.
If you’re a gentleman with a hunger for financial prosperity, a side hustle can be your golden ticket. It empowers you to call the shots and maintain your existing commitments while paving your way to success.
While women tend to lean towards side hustles for women, it’s high time for men to dive headfirst into the captivating world of side hustles!
How can a guy make extra money?
Making extra money doesn’t have to be monotonous. Whether you’re a tech whizz, an avid creator, or a hands-on worker, there’s something for you.
There are so many ways to make money. I just read this story about a college kid starting with $300 and turning his sticker side hustle into a full time business. 1
These options can yield solid income by leveraging your unique skills and interests. Want to learn more? Keep reading; we have plenty of ideas for you!
Top Side Hustles for Men
As my hubby said, extra income takes the financial strain off the normal job. With side hustles, you can choose how you want to spend your time – watching sports, playing video games, or making money.
The choice is yours!
Right now, learning to make money online for beginners is the most popular place to start.
1. Invest in Real Estate
Around here at Money Bliss, we always stress how to make your money work for you and real estate is no different.
Real estate investment is a golden opportunity that not only offers a steady income but also the potential for property value to soar. Keep in mind, that it’s a long-term game that requires a significant upfront investment.
However, there are many options like flipping properties, renting properties, or even investing through a REIT. Dive into the world of real estate to maximize your returns. Let your money do the heavy lifting for you.
2. Day Trader
Many men opt for trading stocks and options as a side hustle for several compelling reasons.
Trading offers flexibility, as your research can be done at any time, making it convenient to manage along with a nine-to-five job.
It has an immense profit potential, given the volatility and opportunities present in the global stock markets.
Many want to earn a rate of return greater than the average return of the S&P 500 – a common benchmark index for that competitor inside them.
Finally, trading presents an opportunity for continual learning and development, as successful trading requires staying updated with financial news, stock apps, market analysis, and economic trends, thereby enhancing one’s financial literacy.
Trade & Travel
Learn to trade stocks with confidence.
Whether you want to:
Retire in peace without financial anxiety
Pay your bills without taking on a side hustle
Quit your 9-5 and do what you love
Or just make more than your current income….
Making $1,000 every.single.day is NOT a pie-in-the-sky goal.
It’s been done over and over again, and the 30,000 students that Teri has helped to be financially independent and fulfill their financial dreams are my witnesses…
3. Become an Umpire or Referee
Sports fans, here’s your calling! Transform your passion into a profitable part-time gig by becoming a sports referee.
There is a HUGE shortage of umpires and referees.2 Rates per game can range from $20 to $60, and over time, you can earn even more as you referee older leagues. Plus many leagues are paying more to incentivize refs to come back to the fields.
Not only does it assure good pay, but it also lets you enjoy your favorite sport, exercise, and create exhilarating moments. Check it at your local club or league for training and to get started today.
This is something my brother-in-law did all the time and easily made 200 dollars a day.
4. Participate In Medical Studies
If adding to medical knowledge interests you while earning, consider participating in clinical trials.
Compensation depends on various factors like the study’s length and complexity. You can earn $50 to $300 a day!
It’s worth considering if you’re comfortable with potential risks and lengthy commitments. Websites like ClinicalTrials.gov or your local hospital could help you get started. It’s a unique way of contributing to medical research while making money. Do check the risks before diving in!
5. Moving and Heavy Item Delivery
Feel like adding some muscle? Moving and heavy item delivery might be your perfect hustle. If you’ve got a buddy, a solid back, and a truck (or can rent one), this is the gig.
You could easily earn about $20-$25 an hour helping people move houses or delivering large items. Opt for evening or weekend gigs to fit around your day job.
Get started by advertising your services or using apps like TaskRabbit or NextDoor. An excellent way to stay fit and earn some extra dollars at the same time!
6. Rent Out Your Extra Room
Do you have a spare room? Then, transform that neglected space into a cash cow.
Airbnb or VRBO can help you lease it out to travelers. Its user-friendly platform lets you manage rentals with aplomb. Plus, you get the chance to grow into a SuperHost.
Another option is to look at investing in a duplex where you live on one side and rent out the other.
7. Woodworking
This takes a special talent like my father-in-law had. He and his boys were known for crafting Adirondacks chairs, bedroom furniture, and patio tables.
So, if you have this woodworking knack, then this side hustle could be a golden ticket. The key to success is to perfect your craft to a few select items to be efficient with your time, so, you can better the profit. Let your handyman skills shine and earn you some extra cash!
The average earnings of a woodworking side hustle in the U.S. can range from approximately $500 to $3,000 or more per month, depending on factors such as the complexity of projects and marketing efforts.
8. Beekeeping
Honey, take note! If you’re not deterred by bees and are interested in agriculture, try your hand at beekeeping. This might be a family affair – like my daughter’s soccer coach.
Honey sells for around $20 a pound, and bees virtually do all the work! Plus, you contribute to pollination and the environment.
Combined with pest control services (like removing large nests), you can amplify your earnings. However, getting comfortable with bees might take time. But, once you do, the sticky sweet liquid gold that is raw honey could put a sizeable amount of money in your pocket.
9. Detail Cars
If you have a passion for cars and cleanliness, consider detailing cars as your side hustle. There’s something gratifying about transforming a dusty vehicle into a sparkling gem.
Depending on the quality of your service, you can earn up to $500 in a single weekend! Start by experimenting with your own car and build a portfolio to attract customers.
You’ll need tools like a good shop vacuum and detailing brushes. I have seen plenty of men showcasing their work on social media with before-and-after photos. Polish those wheels and drive towards profit!
10. Landscaping Side Hustle
Armed with green fingers? Eager to perform hard physical labor? Then a side gig in landscaping can do wonders for your wallet.
From regular lawn care to fall leaf cleanup to full-on backyard redesigns, there’s something for everyone. Look to websites like Lawn Love to match you with your first clients.
Potential income for this venture depends on how many hours of your time you are willing to trade.
11. Drive for Ridesharing Apps
Like to drive? Awesome, do it for cash! Ridesharing apps like Uber and Lyft got you covered.
Be your boss, and work on your terms.
You need to make sure you have a nice car, proper insurance, and learn the busiest routes to maximize your earnings. Do pay heed to your vehicle’s wear and tear, though. However, this is one of the jobs that pay weekly.
12. Snow Plowing
Living in a snowy region? Consider snow plowing. This is a quick way to make money! I can attest to my kids quickly making $200+ a day from snow shoveling.
Even better is to have business clients that need this service. As such, all you need is a reliable truck or SUV with four-wheel drive and a snowplow. Plus, you can upsell by offering extra services like salting and hand shoveling.
This lucrative side gig can result in you earning thousands each winter. It’s an opportunity to put your vehicle to good use and tackle Mother Nature for a handsome payout.
16. Knife Sharpening
If you have a knack for precision and patience, knife sharpening could be a rewarding side hustle. Businesses like restaurants butcheries, and home cooks are potential clients.
All you need is a quality knife sharpening setup and knowledge of the right techniques. Advertising your services on social media can help bring in customers. Who knew such an unusual skill could be so profitable?!
17. Plasma Donation Centers
While this one is probably more geared to side hustles for college students have you ever considered donating plasma for cash?
You help others, and it earns you up to $500 a month. It’s a generous deed with a minimal time commitment.
Search for “where to sell plasma in [your city]where to sell plasma in [your city]” to get started. Remember, most places have similar requirements to blood donation and may require a short medical screening first.
18. Bookkeeping
Good with numbers? Have an eye for detail? Look into bookkeeping.
Services like generating invoices, managing accounts payable, and preparing tax returns are always in demand. Overhead costs are low as you only need a computer and accounting software. Plus, payment is high at around $50 per hour!
For most bookkeepers, referrals are their bread and butter. To start out check the local Chamber of Commerce to start meeting other business people.
Turn your love for crunching numbers into a lucrative side hustle.
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19. White Label Software
Dip your toes into software reselling by using white-label software. This is great for someone who is good with technology and understands SaaS. However, no coding or IT background is necessary.
All you need to do is buy “seats” of an existing software at a wholesale rate, then resell them at retail.
Use any software name or category on Google and add “White Label” at the end to find options. Build a website, market your product, and start earning by becoming a digital intermediary! Start earning by becoming a digital middleman!
20. Work as a Translator
In the United States, nearly 20% of the population, roughly 67.8 million people, speak a language other than English at home, with Spanish, Chinese, Tagalog, Vietnamese, and Arabic being the most prevalent.3 If you’re fluent in another language, this opens doors to flexible and potentially lucrative side hustle in translation and interpretation.
Earnings in the language translation side hustle can fluctuate based on the client’s requirements and your preferences. For instance, you might find translation opportunities on platforms like Freelancer.com offering rates of up to $60 per hour, while translators on Fiverr can charge as much as $125 per project.
21. Pallet Flipping
Are you inclined towards an entrepreneurial middleman ship? Pallet flipping could be your ticket to substantial income.
This is similar to buying storage units unseen and flipping for a profit. With pallet flipping, the process involves buying and reselling pallets of customer returns, overstocked items, or unsold merchandise, often from major online platforms. Connect businesses that need pallets to ship their products with those looking to get rid of them.
Whether you start small or aim high, scalability and considerable earnings are within reach. Check out this Pallet Flipping book to get started.
22. Help Others Write Resumes
If you have a talent for crafting impressive resumes, there’s a lucrative side hustle waiting for you. Job seekers are constantly looking for professionals who can help them stand out in the competitive job market.
According to our research, professionals skilled in resume writing can start charging for their services on platforms like Fiverr, often earning anywhere from $50 to $150 per resume service including cover letters and LinkedIn profiles.
Mastering the art of creating effective resumes, including understanding industry-specific keywords, is the secret sauce to success in this field. By assisting others with their career aspirations, you can collect a decent income while making a meaningful impact on their job prospects.
This is also a popular digital product to sell on Etsy.
Earn More Writing
You can make money as a freelance writer.
Learn techniques to find those jobs and earn the kind of money you deserve!
Plus get tips to land your first freelance writing gig!
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23. Laundromat
Here’s an unconventional yet profitable idea – owning a laundromat! It’s an already profitable model (as it has been around for years) and most processes are automated.
Integrating some digital marketing skills and making tweaks like improving your online presence could earn you significant profit. But be aware, that this does involve an initial investment. Scope out opportunities to buy a laundromat near you.
Also, another trend is starting a laundry business where you take care of others’ laundry needs. Who would have thought laundry could be so rewarding?
24. Start a Consulting Side Hustle
Do you have expertise in a specific area? Consider starting a consulting side hustle.
Consulting is often about solving problems and providing strategies. Whether you’re skilled in marketing, HR, tech, or any other field, your knowledge can be valuable to businesses. Use your existing network to start and gradually grow your client base.
With the right marketing and a robust network, consulting can be highly rewarding. Honestly, this is a popular job after retirement for many. So why wait? Start monetizing your wisdom today!
25. Furniture Flipping
Ever heard of furniture flipping? It’s about buying used furniture at low prices, revamping it, and selling it for a profit.
Furniture flippers can be a goldmine especially if you know what to look for. Unearth the potential in old furniture and flip it into a profit with this artistic hustle.
You can source items from yard sales, flea markets, or online. Sanding and repainting can transform items into showpieces. This gig is perfect if you love hands-on projects that require creativity and patience. Remember, a great photo makes the sale for your final piece!
26. Walk Dogs
Dog lovers, rejoice! Here’s the perfect gig for you – dog walking. If you love playing with our furry friends and love the outdoors, why not get paid for it?
Apps like Rover can connect you with dog owners in your area in need of walking services. Dog walking can fetch (pun intended!) you around $10–$18 per walk. If you’re passionate about spending time with fidos, this side hustle is a pleasure that pays!
Rover
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27. Find Odd Jobs in Your Area
Not afraid to roll up your sleeves? Awesome! Odd jobs can be a treasure trove of opportunities.
Think yard work or furniture assembly. Seek out these gigs on platforms like TaskRabbit, Nextdoor, Craigslist, or Fiverr, and a few hours of work can earn you a tidy sum. It’s the perfect hustle for those in search of quick cash injections!
TaskRabbit
Find local jobs that fit your skills and schedule.
With TaskRabbit, you have the freedom and support to be your own boss.
Plus set your own rates!
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28. Photographer
Are you skilled at capturing beautiful moments? Turn your passion into a lucrative side hustle by becoming a photographer.
With average rates of earning 500 dollars per day, your earnings could easily surpass those of a full-time job. You can explore areas like wedding photography, senior photos, or commercial product photography.
The best way to gain clients is through referrals or a fundraiser. Grab your professional camera and start capturing memorable moments while boosting your income. Focus your lens and let your creativity shine!
29. Unusual Rentals
Get creative! As this man demonstrated, unconventional rentals like a power washer can earn you thousands of dollars every month. 4
You can rent out spaces like your garage, or backyard to pet owners, or even invest in items like portable hot tubs or bounce houses. Platforms like Airbnb, Sniffspot, Vrbo, and Neighbor can help you get started.
Your unused space or items can transform into extraordinary sources of income. Dive into the world of rentals and unveil massive profits!
30. Cryptocurrency
Crypto investment is a popular side hustle that can yield incredible returns (and significant losses).
However, keep in mind that the cryptocurrency market is volatile, and you should only risk what you can afford to lose.
Crypto is not for the faint-hearted, but with the potential for high returns, it could be your golden opportunity.
31. Teach Music Classes
Do you possess a hidden musical talent? Then, teach music class!
With countless adults and children seeking music lessons, you can make good money sharing your skills. Offer piano lessons, guitar instruction, drumming, or any instrument you excel in. You can use platforms like Skillshare or provide private lessons.
On average, music instructors can charge anywhere from $40 to $100 or more per hour for online lessons depending on how advanced the lessons are. Sharing your passion for music while making money sounds like music to the ears, doesn’t it?
32. Sell on eBay
Have you ever visited a garage sale? Turn those finds into a profitable hustle by selling on eBay. eBay is an excellent platform for selling a wide range of items.
Some personal successes include flipping items like electronics, old iPods and iPhones, sneakers, and furniture. Successful eBay selling boils down to recognizing profitable items and securing a bargain purchase.
Are you ready to flip and fill your wallet with extra cash? You could sell on Facebook Marketplace, too.
33. Reselling on Amazon
Reselling products on Amazon is the trend of the hour. Scout for items cheaper in your area than online, including toys, limited edition shoes, or seasonal delicacies.
Consider trying dropshipping to curate your product lineup without worrying about inventory. Armed with just an Amazon seller account and a keen eye for trends, you can dive into this lucrative venture!
34. Start A Freelance Business
Have niche skills? Time to cash them in by freelancing. This is a booming market.
Bid on projects that resonate with your skill set: graphics, writing, social media management, website design – you name it! Going freelance offers flexibility, and autonomy and can bring in some serious cash.
Be sure to create a compelling portfolio to attract clients and make sure you have solid reviews.
35. Play Games Online
Game on, fellas! Who said you can’t turn your gaming hobby into a money-making machine?
You can pocket money by playing games like Blackout Bingo and Solitaire Cube.
Just remember you can win real money, but you can suffer losses as well. Also, be sure to check if cash tournaments are available in your region.
36. Watch Videos Online
Do you enjoy watching videos? You can earn while indulging in your favorite pastime! Platforms like InboxDollars and MyPoints offer cash rewards for watching videos. Plus, you can claim a $5 sign-up bonus on InboxDollars.
While the earning potential might be relatively low, it’s a seamless background activity. You can make money while relaxing on the couch. So, why not unwind with your favorite video content and get paid for it?
Inbox Dollars
Since 2000, InboxDollars has paid over $80 Million in cash rewards to members for doing everyday online activities like reading emails, taking paid surveys, or playing games.
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37. Start a Podcast
Do you have a passion for conversation? Starting a podcast is not just about speaking your mind; it’s a captivating path to potential profit.
With over 177 million podcast listeners in the U.S. alone, your words have a vast audience waiting to tune in.5
Dive into topics like BBQ techniques, current events, or life’s twists and turns, and you might be surprised to know that top podcasters earn money with sponsorships.
38. Delivery Gigs
Do you love driving, but want to limit contact with people? Consider delivery gigs.
Food delivery apps like DoorDash, Uber Eats, and Instacart can pad your wallet. You can make deliveries on your schedule while retaining control over when and where you work.
These gigs typically pay $15 to $20 per hour, plus tips. Some companies even allow bicycle deliveries for a bit of exercise. Deliver your way to financial success with this flexible side hustle.
39. Start a YouTube Channel
Do you have a passion for digital creativity? Consider starting a YouTube channel – the “king of side hustles.”
Use your unique perspective to engage viewers, whether through personal vlogs, tech reviews, or evergreen content. The potential is boundless.
YouTubers earn money from ad revenue and sponsorships. With a staggering number of users on YouTube, why not tap into this vast audience?
Established channels can rake in thousands per video. However, remember that channel success hinges on content quality, relevance, and consistency. Get behind the camera and share your creativity with the world!
40. Freelance Writing
If you have a way with words, freelance writing is an attractive side hustle. Typically, writing is the most sought-after freelance service.
You can choose from various writing niches, including copywriting, blog writing, ebook, social media content creation, or creating detailed reports. Impress clients with samples of your best work.
For many, this was the first step before they went into to the world of blogging.
Earn More Writing
You can make money as a freelance writer.
Learn techniques to find those jobs and earn the kind of money you deserve!
Plus get tips to land your first freelance writing gig!
Start Now
42. Take Online Surveys
Have some free time and a reliable internet connection? Consider taking online surveys.
Websites like Swagbucks, Panel Place, or Survey Junkie are on the lookout for your opinions. It’s simple: sign up, share thoughts, and cash out! Look out for the highest-paying survey sites to maximize your profits.
Taking online surveys can typically amount to around $50 to $200 per month, depending on the frequency and length of surveys taken.
While it won’t make you a fortune, it’s an easy way to make a couple extra bucks during downtime. Start voicing your opinions for money today!
Swagbucks
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43. Find a Flexible Part-Time Job
Finally, a part-time job can provide a steady cash stream.
Right now, you can find hiring signs everywhere! This is a great way to trade your time and make a little bit over minimum wage.
Apply to those vacant positions now, and sail towards extra cash!
Striking the Balance: Juggling Regular Jobs and Hustles
This is where my husband is always the most concerned because juggling your full-time job along with your side hustle can be tricky. Even more so, if you have a family.
The key is to create a feasible schedule that allows you to manage both without affecting the quality of work.
Keeping a time log can help identify how you can spare time for your hustle. Remember, side hustles should not hinder your regular job.
The goal is to make extra money, but not lose precious time with your family, so you must strike that balance for a smooth side-hustling journey. It’s all about dedication, time management, and commitment.
Now, are you ready to toss that juggling ball up in the air?
Frequently Asked Questions about Side Hustles
Personally, we feel the most profitable side hustles for men is real estate investment, followed closely by trading stocks and options.
These side hustles have a higher amount of money needed to start investing. So, we decided to consider your skills and interests to make a big impact now.
Making an extra $2000 a month is a game of adopting multiple hustles or honing in and being successful with one.
More importantly, it’s all about identifying your strengths, and interests and leveraging opportunities from there. Keep grinding, and you’ll find that fortune favoring your extra efforts!
Earning an extra $1000 a month might seem daunting, but it’s definitely achievable. Combining side hustles like driving for DoorDash, medical research studies, and flipping items can help you hit that target. Remember, the key lies in maximizing your skills, and efficiency, and choosing the right hustles. Embark on your side-hustling journey today and watch as your bank account flourishes!
Which Side Hustle for Guys Do You Like?
Now that we’ve explored these exciting side hustle opportunities, it’s time for you to take action. Which one resonates with you the most?
To truly excel in the world of side hustles, it’s crucial to approach your ventures with the right mindset. Your skills, hobbies, and interests should align with your chosen hustle, ensuring that you’re not just chasing dollars but pursuing something that genuinely excites you.
Remember that side hustles require time, commitment, and sometimes an upfront investment. The higher you’re willing to climb, the better your view (and the payouts) will be!
Don’t wait any longer. Start your side hustle journey today, and unlock the door to financial freedom and personal fulfillment.
Source
CNBC. “21-year-old spent $300 to start his sticker side hustle—now it brings in up to $38,000 a day: I was ‘unprepared’ to go viral.” https://www.cnbc.com/2023/10/30/how-sticker-side-hustle-invalid-jp-went-tiktok-viral-became-lucrative.html. Accessed October 30, 2023.
CBS News, “Youth sports referee shortage grows amid aggression from parents, coaches.” https://www.cbsnews.com/philadelphia/news/youth-sports-referee-shortage-grows-amid-aggression-from-parents-coaches/. Accessed October 30, 2023.
Census.gov. “Nearly 68 Million People Spoke a Language Other Than English at Home in 2019.” https://www.census.gov/library/stories/2022/12/languages-we-speak-in-united-states.html. Accessed October 30, 2023.
Express. “‘Anyone can do it’ Man shares unusual way to make money without leaving home.” https://www.express.co.uk/finance/personalfinance/1623166/money-making-tips-earn-from-home-fat-llama. Accessed October 30, 2023.
Exploding Topics. “Number of Podcast Listeners.” https://explodingtopics.com/blog/podcast-listeners. Accessed October 30, 2023.
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Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
A ‘Greenery-Filled Terrarium’ Will Be at the Center of New ODA Skyscraper in Seoul
An expansive “sky garden” will sit at the middle of Terrarium Cheong-Dam, a new skyscraper in Seoul, South Korea, designed by architecture studio ODA. The 45-story, 200-meter tower will be built in the city’s Gangnam district and will have a mix of high-end residences and offices. The semi-private sky garden, which ODA refers to as a “terrarium,” will cut through the center of the modern building. Plus, the skyscraper will sit on a podium with a public park. The addition of the greenery is intended to enhance the surrounding urban landscape. Dezeen
U.S. Mortgage Rates Hit a 23-Year High
The interest rate for a 30-year fixed-rate mortgage has hit its highest level since September 2000, following the seventh consecutive weekly increase. Now at 7.9%, the highest interest rate in 23 years is driving mortgage applications to a 28-year low. “Mortgage activity continued to stall, with applications dipping to the slowest weekly pace since 1995,” MBA vice president and deputy chief economist Joel Kan said. “These higher mortgage rates are keeping prospective home buyers out of the market and continue to suppress refinance activity.” Reuters
U.K. Landlords Threaten to Quit Over Proposed Renters’ Reform Bill
More than half of landlords in the U.K.—54%—said they would consider quitting because of the proposed Renters’ Reform bill, which is now getting a second reading. One out of five landlords said abolishing no-fault evictions is one of the least attractive elements of the reform bill, as it is currently the only way to quickly evict tenants. “It’s important that landlords are given the time and information they need to prepare for significant upheaval in the coming years, so they can continue to provide much-needed housing for almost five million households nationwide,” said Alan Thomas, U.K. chief executive at Simply Business. PropertyWire
Danny McBride Lists Hollywood Penthouse for $1.8 Million
Actor and screenwriter Danny McBride is parting with his longtime Hollywood condo, which is now on the market for $1.8 million. McBride, who created the HBO comedy shows “Eastbound & Down,” “Vice Principals” and “The Righteous Gemstones,” purchased the duplex penthouse in 2009 for a little more than $1.4 million. The home, which has previously been listed both on the sales and rental markets, sits on the 10th floor of the landmarked Broadway Hollywood and overlooks the Hollywood Sign and the Capital Records Building. Spanning almost 2,200 square feet, the penthouse has double-height ceilings, one bedroom and two bathrooms. McBride and his family have primarily lived in Charleston, South Carolina, since 2017. Robb Report
A stylish duplex loft with 14-foot ceilings and oversized windows in West Chelsea has recently landed on the market. And it has some star power to add to its appeal.
The New York City apartment — set in the former industrial-turned-luxury-condo Loft 25 building at 420 West 25th Street — was once owned by veteran actor Matthew Modine, and served as his home for close to five years.
Renowned for his versatile career, which spans iconic films and TV shows such as Full Metal Jacket, Birdy, and a captivating portrayal of Dr. Martin Brenner in the critically acclaimed Netflix series Stranger Things, Modine also made an appearance in this summer’s blockbuster Christopher Nolan-directed movie, Oppenheimer.
In 2008, Modine acquired his stylish urban retreat, a 2-bedroom, 2.5-bathroom apartment with an exquisite private terrace. Set within the meticulously converted building that echoes the artistic spirit of Chelsea, the abode served as a tranquil haven for the actor during his time in the city.
Related: 10 Real-life Stranger Things houses & how much they’re worth
He then brought it to market in late 2012 and capitalized on his star power to attract buyers. How, you might ask?
Well, the movie and TV star narrated (and made a brief appearance) in the property’s video listing, going over some of the most notable features of his NYC abode. And it did the trick, as Modine sold the place in early 2013 for $2,175,000.
Now, 10 years after its former celebrity owner parted ways with the West Chelsea condo, the 1,668-square-foot unit is back on the market. The property is listed for $2.5 million with Jed Lewin, Esq. and Monica Park, both with The Agency.
Set in a converted industrial loft building in the heart of Chelsea’s vibrant Gallery District, the stylish unit has 2 bedrooms, 2 full baths and 1 half bath, and an open-concept living area accented by a ventless Carrara marble fireplace.
Fully renovated — with no expenses spared — the duplex loft features an impressive gourmet kitchen fitted with top-of-the-line appliances (Miele, Sub-Zero, Wolf), flowing Calacatta marble countertops, and ample storage.
Both bedrooms are generously sized, offering peaceful retreats with en-suite bathrooms adorned with exquisite Waterworks fixtures, according to the listing.
Tall, 14-foot ceilings and oversized windows that flood the space with natural southern light add to the loft’s appeal, as does the charming outdoor space, where we find a secluded retreat equipped with a full-sized grill.
Future owners and residents also get to enjoy all the perks that come with living in the Loft 25 building, and to immerse themselves in the West Chelsea art scene, with galleries and cultural venues just steps away.
A full-service luxury doorman condo, the building has a full-time staff, a live-in super, and a whole range of upscale amenities, including a gym, screening room, zen garden, and a 5,000-square-foot roof deck complete with gas grills, an outdoor shower, and panoramic views.
More stories
Actor Adam Sandler’s house was a $12M gift for his wife Jackie
Where do the ‘Real Housewives of Beverly Hills’ Live?
The wildly imaginative homes of our favorite movie directors
This article is reprinted by permission from NerdWallet.
Mortgage rates have risen to their highest levels in more than 20 years, making it harder to afford a home. And yet, out of necessity or desire, hundreds of thousands of people buy homes every month.
With the 30-year fixed rate topping 7%, NerdWallet asked real estate agents and mortgage loan officers for advice on how home buyers can stretch their homebuying dollars in this time of high interest rates. Here are nine tactics that they suggested.
1. Ask the seller to reduce the mortgage rate
Temporary mortgage rate buydowns have become commonplace since rates surged in early 2022. With a temporary rate buydown, the seller pays a portion of the buyer’s interest payments upfront. This reduces the house payments for the first one, two or three years of ownership.
“This is a common strategy for new-home builders, but it can also be used in the purchase of resale homes,” said John Bianchi, executive vice president for loanDepot. (All sources in this story commented via email.) “Negotiating a temporary buydown with the seller can help soften the blow of high interest rates, reducing your monthly payment for one to three years.”
In one typical setup, the seller’s payment effectively cuts the buyer’s interest rate by 2 percentage points in the first year, and by 1 percentage point in the second year. After that, the buyer pays the full interest rate. This is known as a 2-1 buydown.
Another option is to reduce the mortgage rate permanently, using discount points. One discount point equals 1% of the loan amount; each point typically reduces the interest rate by around 0.25 percentage point.
“Home buyers have an opportunity to get a seller to pay for these methods to lower their interest rate,” said Chuck Vander Stelt, a real estate agent in Valparaiso, Indiana. “Some home buyers should seriously consider offering a more generous price to the seller in exchange for a large closing cost concession and then use those funds to buy down the interest rate as much as possible.”
Also see: Avoiding the 30-year mortgage loan trap can save you hundreds of thousands of dollars
2. Use part of your down payment to pay down debt
When you apply for a mortgage, the lender considers your total debt payments for the house, car, student loans and credit cards. Sometimes it makes sense to divert some of your intended down payment money to cut the higher-rate debt first, said David Kuiper, vice president and senior mortgage banker for Dart Bank in western Michigan.
“While the mortgage payment will be slightly higher, the total debt/payments is lower, making the proposed purchase more affordable,” Kuiper said.
3. Use home buyer assistance programs
State and local governments sponsor an abundance of programs to make homes affordable for home buyers, especially first-timers. Some programs offer down payment assistance and help with closing costs. Others offer favorable interest rates or tax credits.
Details differ from state to state. Some programs are targeted to certain counties, cities or neighborhoods. Others are intended for specific groups of people, such as teachers, first responders or renters who live in public housing. Some programs have income limits.
Don’t miss: We bought a falling-down 100-year-old home. We tried to renovate, but things took a turn for the worse.
4. Ask the seller to finance the purchase
You can give the seller an IOU for part of the home’s value and make monthly payments directly to the seller at an interest rate that’s lower than you could get from a bank. This arrangement is called “seller financing” and has its roots in the early 1980s, when mortgage rates zoomed as high as 18%.
You might wonder why a seller would agree to such a deal. “They will often do this in order to get the price they want,” said Janie Coffey, who leads the Coffey Team with eXp Realty in St. Augustine, Florida. The seller gets full price while you get a break on the interest rate.
Seller financing usually has an end date: Within three, five or 10 years, the buyer must get a mortgage from a lender to pay off the amount owed to the seller. Coffey explained that the type of seller open to this arrangement often has paid off the mortgage “and is OK to wait for their big payoff.”
Seller financing is complex. Use an experienced real estate attorney to draw up the contract.
Related: How the U.S. housing market got stuck in the ’80s
5. Don’t wait for a rate you like better
“If the right house comes along and the payment is affordable (even if you don’t like the interest rate), you should buy the house,” Kuiper said.
You often hear that you should buy now and refinance someday, after interest rates fall. That’s not Kuiper’s point. His point was this: If mortgage rates fall, more buyers will rush into the market. They’ll make competitive offers and drive home prices higher, “essentially wiping out any advantage of the lower interest rate.”
6. Don’t get distracted by things you don’t need
Some sellers want flexibility about the closing date, would prefer the buyer to make repairs, and are scared of accepting an offer from a buyer who ends up failing to qualify for the mortgage.
Vander Stelt advises staying focused on price with these hassle-avoidant sellers, while being flexible on the rest of the offer on the house. “Do this by offering the best terms you can, including buying the home as-is, a closing date and possession that works best for the seller, and illustrating how strong of a candidate you are to get your mortgage approved,” he said.
You can demonstrate that you’re a strong mortgage candidate by showing a preapproval letter and by sharing financial information, such as account balances that prove you have the cash for the down payment.
7. Buy a house that needs work
Buying a fixer-upper is an old-fashioned, time-tested way to save money. “If you can be patient, it’s worth buying a home that needs work and slowly fixing it up over time or taking a renovation loan to acquire the home and do the work upfront,” said Brian Koss, regional sales director for Movement Mortgage, in Danvers, Massachusetts.
Read: Should you buy a fixer? These are the 5 cheapest states to make home renovations.
8. Build a house or buy a brand-new one
“Building a new home can provide more certainty around how long you will have to wait to move in, it can provide more cost certainty, and it can save you money in the short and long term by avoiding costly remodels, appliance repairs and unexpected repairs of older parts of the home,” said Jeffrey Ruben, president of WSFS Mortgage in the Greater Philadelphia area.
Buying a new home in a development has some of the same advantages. And today’s buyers have good reason to shop for new construction because there’s a shortage of existing homes for resale.
Read: U.S. construction spending rose in June, marking seventh straight monthly increase
9. Rent out part of the house
Coffey suggested using an old strategy with a trendy name — house hacking — “buying a property like a duplex, where you live in one unit and rent out the other,” she said.
If you buy a duplex, triplex or quadplex, and you live in one unit, you can include the expected rental income for the others when qualifying for a loan. In some cases, you can qualify for a mortgage using expected rental income from an accessory dwelling unit, such as a basement apartment or a tiny house in the backyard.
Also see: Homeowners locked into ultralow mortgage rates consider short-term rentals, but cities are cracking down
If you buy a home today, you’re stuck with high mortgage rates for the time being. But by employing some creativity, you might find a way to afford homeownership.
More From NerdWallet
Holden Lewis writes for NerdWallet. Email: [email protected]. Twitter: @HoldenL.
Looking to build wealth with the best income-generating assets? As you set out on the path to financial freedom, understanding the different types of income-generating assets can truly change your life. This is because you can invest in assets that will generate you income, earning you more passive income. Today’s article will introduce you to…
Looking to build wealth with the best income-generating assets?
As you set out on the path to financial freedom, understanding the different types of income-generating assets can truly change your life.
This is because you can invest in assets that will generate you income, earning you more passive income.
Today’s article will introduce you to a range of assets that reliably bring in cash, giving you peace of mind and the freedom to live life on your own terms.
From traditional investments like stocks and bonds to more creative options like peer-to-peer lending or real estate, income-generating assets give you the power to diversify your portfolio and build wealth over time.
Related content:
What are income generating assets?
Before we begin, I want to talk about the basics on income-generating assets, in case you are new to the subject or if you want a background first.
Income-generating assets are investments that, as the name suggests, generate income for you. These are assets that provide you with a steady cash flow, allowing you to earn passive income and build your wealth over time.
Examples include rental real estate and dividend-paying stocks (we will go over 17 different types of income-generating assets below in more detail).
There are several benefits of the best income-generating assets such as:
Passive income: You earn money without actively working, and this can provide financial freedom and the ability to focus on other things in life. You can earn money in your sleep, while on vacation, making dinner, and more.
Diversification: You can diversify your investments so that all of your income is not coming from just one source.
Wealth building: Earning income and generating a steady cash flow can help you build your wealth over time.
Note: Please keep in mind that there is no one-size-fits-all approach when investing in any of these income-producing assets. Everyone is different and while one asset may work great for someone, it may not be the right asset for you. I recommend doing as much research as you can if you are interested in one of the asset investments I talk about below.
Types Of Income Generating Assets
There are many types of income-generating assets. Some may be more traditional such as dividend-paying stocks, and others may be more alternative income-generating assets, such as selling stock photos, and even renting out your driveway.
Today, I will talk about 17 different types of income-generating assets, but this is not a full list of the best income-producing assets. There are many, many more!
The different types of income-generating assets that I will talk about today include:
1. Dividend-paying stocks
One of the best assets to invest in are dividend-paying stocks.
Dividends are simply a payment in cash or stock that public companies distribute to their shareholders.
The amount of a dividend is determined by a company’s board of directors, and they are given as a way to reward those who have stock in their company. Both private and public companies pay dividends, but not all companies pay dividends.
How do dividends work? If you own shares of a dividend-paying stock, then a dividend is paid per share of that stock. So, if you have 10 shares in Company ABC, and they pay $5 in cash dividends each year, then you will get $50 in dividends that year. While dividends can be paid on a monthly, quarterly, or yearly basis, they are most commonly paid out quarterly — so, four times a year. In this example, the $5 in cash dividends the company pays each year will most likely be distributed as $1.25 per quarter for each share of stock.
The most common type of dividends are cash dividends. Shareholders may choose to get this deposited right into their brokerage account. Stock dividends are another common type of dividend. In this case, shareholders get extra shares of stock instead of cash.
Both cash dividends and stock dividends are great income-generating assets that will earn more money for you.
As a shareholder, you can earn income when companies distribute profits to their shareholders. Look for stocks with a history of consistent dividend payouts and a high dividend yield. Keep in mind that dividend stocks are still subject to market fluctuations, and just because a company has paid a dividend in the past does not mean that they always will in the future.
Related content:
2. High-yield savings accounts and CDs
High-yield savings accounts and CDs are a great way to grow your savings, but most people have their money in accounts with low rates. Unfortunately, that means many of you are losing out on some easy money.
Savings accounts at brick-and-mortar banks are known for having really low interest rates. That’s because they have a much higher overhead — paying for the building, paying the tellers to help you in person at the bank, etc.
High-yield savings accounts offer an easy option for earning interest on your cash. Online banks often offer higher interest rates than traditional banks. As of the writing of this blog post, you can easily find high-yield savings accounts that can earn you above 4.00%.
Certificates of Deposit (CDs), another form of income-generating assets, are FDIC insured and provide a guaranteed interest rate over a specific term. Remember that access to your money is limited during the term of the CD. You will agree upon the term before putting your money in the CD. The terms typically vary in length from around 3 months to 5 years.
Money market accounts are also offered by banks and often with a higher yield than other types of savings accounts.
3. Real estate
Real estate is one of the most common income-generating assets that people think of.
Investing in rental properties is a popular way to generate steady cash flow. You can earn rental income from tenants, and properties typically appreciate in value over time.
Location and property management are important factors that can impact your return on investment.
By investing in real estate, you may be investing in residential properties, commercial real estate, short-term rentals, REITs, and more.
Recommended reading: How This Woman In Her 30s Owns 7 Rental Homes
4. Real estate investment trusts (REITs)
An REIT is a company that owns and manages income-producing real estate. They then sell shares to investors like stock.
By investing in REITs, you can make money in the real estate market without actually owning real estate.
So, if you don’t want to be a landlord, then this may be something for you to look into. This makes it much more passive than actually owning real estate and having to manage it.
You can even diversify your income stream with REITs by investing in different property types, such as residential homes, commercial office space, industrial, and retail store properties.
5. Bonds
Bonds are fixed-income investments that are issued by governments and companies. If you own a bond, you receive interest payments from borrowers on a regular basis.
An easy way to explain this is: When you buy a bond, you are giving someone a loan and they are agreeing to pay you back with interest.
Bonds with higher credit ratings are generally a safer investment but may offer lower interest rates.
6. Mutual funds
Mutual funds gather funds from investors to invest in stocks, bonds, or other securities. Basically, the funds are pooled together and there’s a fund manager who chooses the best investments.
Income-generating assets like this have multiple types of mutual funds available for multiple types of investors. Some of these fund types include bond funds, stock funds, balanced funds, and index funds.
Mutual funds typically have higher fees because they have fund managers who are actively trying to beat the market.
With a mutual fund, you get diversification because the fund manager mixes the assets in it.
7. Index funds and exchange-traded funds (ETFs)
ETFs and index funds are popular options for those who are looking to diversify their portfolio of income-generating assets.
This is because index funds and ETFs track a specific market index and invest in a wide range of stocks or other assets, instead of picking and choosing stocks in an attempt to beat the market. This is what makes them different from mutual funds.
They often have lower fees and higher diversification compared to actively managed funds.
8. Annuities
Annuities are long-term investments offered by insurance companies that give you a guaranteed income stream to build wealth. In exchange for a lump-sum payment or periodic contributions (such as monthly or annually), you’ll receive steady payments in the future.
The way it works is you pay premiums into the annuity for a set amount of time. Later, you stop paying premiums, and the annuity starts sending regular payments to you. Some are even set up to pay you back with a lump sum.
Annuities can be fixed or variable. A fixed annuity offers a guaranteed payment amount — which means a predictable income for you. As for a variable annuity, the payment amount does vary, depending on how the market is doing.
9. Websites and blogs
Starting a website can generate income through the money-making assets of advertising, affiliate marketing, or the sale of products and services.
Since I started Making Sense of Cents, I have earned over $5,000,000 from my blog through affiliate marketing, sponsored partnerships, display advertising, and online courses. These income-generating assets make sense for building wealth.
Blogging allows me to travel as much as I want, have a flexible schedule — and I earn a great income doing it.
Now, it’s not entirely passive, but I do earn semi-passive income from my blog.
You can learn how to start a blog in my How To Start a Blog FREE Course.
Here’s a quick outline of what you will learn:
Day 1: Why you should start a blog
Day 2: How to decide what to write about (your blog niche!)
Day 3: How to create your blog (in this lesson, you will learn how to start a blog on WordPress)
Day 4: The different ways to make money with your blog
Day 5: My advice for making passive income with your blog
Day 6: How to get pageviews
Day 7: Other blogging tips to help you see success
Recommended reading: The 25 Most-Asked Blogging Questions To Get You Started Today
10. Royalties and intellectual property
Intellectual property, such as patents, copyrights, and trademarks, can generate income through licensing fees or royalties. This particular option is good for creative professionals, such as authors, musicians, and inventors, who are looking for income-generating assets.
Royalties are a way to earn income from your creative work or intellectual property. By granting others permission to use or distribute your intellectual property, you can receive ongoing payments known as royalties.
Whether you’re a musician, author, inventor, or artist, royalties offer a passive income stream as your creations continue to generate revenue over time.
Royalties can be paid out periodically or as a lump sum on these passive income assets, depending on your agreement with the licensee.
11. Stock photos
If you have a talent for photography, you can monetize your skills by selling stock photos on platforms such as Shutterstock or Adobe Stock. The more high-quality images you upload, the more potential passive income you can generate.
With stock photography, you simply upload photos that you have taken to a platform such as DepositPhotos, turning your pictures into income-generating assets. Then, you will receive a commission whenever someone buys one of your stock photos.
Stock photos are used for all sorts of reasons by websites, companies, blogs, and more. Businesses need stock photos because they are not usually in the business of taking photos of everything that they need. Instead, they can use stock photos to make their content, website, or business more visually appealing.
Some examples of stock photography include pictures of:
Travel, vacations, landmarks, outdoor adventures
Family members, such as parents, children, family gatherings
Food and drink
Cars, boats, RVs
Businesses, pictures of people in meetings, in an office.
Sports, professional events
Animals, such as household pets or wildlife
The photo possibilities are almost endless for this type of income-generating asset.
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
12. Crowdfunding and peer-to-peer lending
Crowdfunding platforms enable you to invest in real estate deals with a smaller amount of money than buying real estate up front, giving you a passive income through rental income or even a property increasing in value.
Peer-to-peer lending platforms allow you to lend money directly to borrowers. Typically you can earn higher returns than traditional savings accounts, though there’s always the risk of a borrower not paying you back.
Both of these types of assets — crowdfunding and peer-to-peer lending — use technology to connect investors with those looking for funding.
13. Renting out storage space
If you own unused land or unused space in your home, renting it out for storage can be a simple way to generate passive income.
You can offer storage solutions for vehicles or boats. If you have a smaller space, then offer it to store personal belongings. You can rent out your driveway, closet, basement, attic, and more. You can even rent out a shelf.
A website where you can list your storage space is Neighbor. You can earn $100 to $400+ each month on this platform. This depends on the demand in your area and the type of income-generating assets you are renting out. And, you can choose who, what, and when — who to rent to, what things are stored, and when it will happen.
You can learn more at Neighbor Review: Make Money Renting Your Storage Space.
14. Short-term rentals
Short-term rentals can be a lucrative income-generating asset if you own properties in popular tourist destinations or business hubs.
Websites like Airbnb provide a platform to rent out your property to travelers for short periods, potentially generating higher returns than traditional long-term leases.
Furnished Finder is another website for short-term rentals. This is a way to connect with travel nurses in need of short-term housing.
Keep in mind that rental income can be affected by local regulations, potential vacancies, or seasonal fluctuations.
15. Car rentals
Car rental platforms like Turo allow you to rent out your car when you’re not using it. Assets that generate cash flow include your own wheels, and that means no significant initial investment besides the cost of the car you already own.
Be mindful of risks such as wear and tear, insurance, and potential damage caused by renters.
It’s an affordable alternative to traditional rental car companies for customers, and it’s a good way to make money if you’re already working from home and don’t need your car, or are a two-car household.
Turo is one of a few different places to rent out your car, turning your vehicle into one of your income-generating assets. Your car is covered by Turo with up to a $1 million insurance policy. You can also pick the dates for when your car is available and set your rates.
Turo says you can earn an average of $706 per month by listing your car on their site.
16. RV rentals
Similarly to car rentals, RV rentals can provide additional income by renting out your recreational vehicle when you’re not using it. Your RV could easily become one of your income-generating assets.
You may be able to earn $100 to $300 a day, or even more, by renting out your RV on RVShare.
If you have an RV that is just sitting there and not being used, then you may be able to earn an income with it by renting it out to others who are interested in RVing. Cash flow-generating assets like RVs are a win-win for both you and the renter who wants to experience life in a recreational vehicle.
You can learn more at How To Make Extra Money By Renting Out Your RV.
17. Vending machines
With a vending machine business, you can generate income by selling a variety of products, from food to fishing supplies, beauty products to baby items, and more.
You may be able to earn $1,000+ a month by running a vending machine business. That’s enough reason to take a closer look at income-producing assets like this.
You can learn more at How To Start A Vending Machine Business – How I Make $7,000 Monthly.
Questions about income generating assets
Here are common questions that you may have about income-generating assets:
How do I start passive income from nothing?
Starting passive income from nothing requires creativity and resourcefulness. You can begin by identifying skills you possess or interests that can be turned into income-generating opportunities.
What are the assets that generate income?
The assets I talked about above include:
Dividend-paying stocks and stock market investing
High-yield savings accounts and CDs
Real estate
Bonds
Mutual funds
Index funds and exchange-traded funds
Annuities
Websites and online businesses
Royalties and intellectual property
Stock photos
Crowdfunding and peer-to-peer lending
Renting out your storage space
Car rentals
RV rentals
Vending machines
How do I start buying income generating assets?
There are traditional investments or more creative options. Do as much research as you can before deciding which option fits you best.
What are good assets to buy?
After deciding if you want to purchase traditional investments or more creative options, choose an asset that you can afford and best fits your lifestyle.
What are the best assets to buy for beginners?
For beginners seeking income-generating assets, you may want to look into:
Dividend-paying stocks for your investment portfolio
Crowdfunded real estate investing: Platforms like Fundrise allow smaller investments with lower risk exposure.
ETFs and index funds: They provide diversification and passive income through dividends.
What is income generating real estate?
Income-generating real estate refers to properties that produce regular rental income, such as apartments, commercial properties, or short-term vacation rentals.
How do I start passive income in real estate?
There are a few ways that you can earn passive income from real estate, including:
Buying a property, such as an apartment building or duplex, and renting it out to tenants
Using real estate crowdfunding platforms
Investing in REITs
How to make passive income with real estate without owning property?
You don’t need to actually own property in order to make money with real estate. Instead, you can earn passive income from real estate by investing in REITs and using real estate crowdfunding platforms.
This is an option for those who want to be diversified with their income-generating assets but don’t want to spend all of their money or time on a single piece of real estate.
How to make $1,000 a day in passive income?
Making $1,000 a day in passive income with assets that produce income will not be easy. If it were easy, then everyone would be doing it, after all.
Making $1,000 a day in passive income may require a large amount of money up front, diversifying into different assets mentioned above, and lots of patience from you because it will take time to make that kind of money.
You may want to start off by focusing on building multiple income streams and reinvesting your profits as you earn them.
What to think about before investing in income producing assets?
There are many different things to think about when it comes to income-generating assets. You want to find the best assets to invest your money in that will also be the best fit for you.
Remember, as I said at the beginning of this article, not everything will be applicable to everyone. Everyone is different! You may prefer to create a stock photo portfolio and hate real estate, whereas someone else may really enjoy being a real estate investor — or it may even be the other way around.
Here are some of my tips if you are interested in income-generating assets:
Do your research and talk to experts —I recommend researching as much as you can on the asset you are interested in. And, if you still have questions, don’t be afraid to talk to an expert.
Diversify — One of the important parts of building a successful income-generating portfolio is finding ways to be diversified.
Think about the risks —When making money, there’s usually some sort of risk. I recommend evaluating the risks and seeing what you are comfortable with.
What are the best books on income generating assets?
Some highly recommended books on income-generating assets include:
The Simple Path to Wealth by JL Collins
The Millionaire Real Estate Investor by Gary Keller
The Little Book of Common Sense Investing by John C. Bogle
Income Generating Assets — Summary
I hope you enjoyed this article on the best income-generating assets. As you learned, there are many different types of assets that you can invest in so that you can earn an income.
The best income-producing assets, if they’re right for you, can truly change your life.
With these assets, you can build wealth through a reliable passive income, giving you peace of mind and freedom to live life on your own terms.
Are you looking to build income-generating assets? What are your favorite ways?
If you’ve found yourself wondering, ‘What exactly is a twin home, and could it be right for me?’ you’re in the right place. Among the various housing options available, one term that frequently piques interest is the ‘twin home.’ But what does it mean exactly? Is it a duplex, a townhome, or something entirely different?
In this Redfin article, we’ll explain everything you need to know about twin homes. We’ll cover the unique features of this home type, discuss the advantages and drawbacks, and help you determine if it’s the right housing choice for you. So whether you’re looking at homes for sale in Columbus or considering renting in Houston, keep reading to learn all about twin homes.
What is a twin home?
A twin home is also known as a semi-detached home. It’s a residential property with two separate living units, each having its own entrance and private space, housed within one building. The units are usually mirror images of each other in terms of layout and design. Unlike a traditional single-family home, where the dwelling stands alone, twin homes share a common wall along one side.
Twin home vs. duplex: What is the difference?
While twin homes and duplexes may seem similar at first glance due to their shared wall structure, they possess distinct differences that set them apart. A duplex generally refers to a building divided into two separate units, often stacked one on top of the other or side by side. These units can have different layouts, sizes, and designs, whereas twin homes typically mirror each other in layout and design, offering a sense of symmetry and balance. In a twin home, the design intention is to create a harmonious look, as if two identical homes were joined together.
“It’s critical to know if you’re buying a duplex or a twin home because of the difference in how the land is divided,” says Mark Shattuck of Dream Home Studio. “Duplexes are two attached homes with separate ownership, yet the land that both residences sit on is co-owned and co-maintained by both duplex owners. This makes duplexes multi-family properties. However, twin homes are classified as two attached single-family homes (and only two, as opposed to townhomes) because twin homes have separate land ownership, both split along a common property line and shared wall. Nothing looks visually different between duplexes and twin homes, but the land ownership, rights, and classification are very different.”
Pros and cons of living in a twin home
Pros:
Affordability: Twin homes often offer a more affordable housing option compared to single-family homes, making them appealing to first-time homebuyers or those looking for cost-effective alternatives.
Community feel: Living in close proximity to another household can foster a sense of community and provide an added layer of security with neighbors looking out for one another.
Efficient use of land: Twin homes are an efficient use of urban and suburban land, which can lead to shorter driveways, smaller yards, and more sustainable development practices.
Maintenance: With a shared wall, there might be less exterior maintenance compared to standalone homes, and homeowners’ association fees may cover some maintenance tasks.
Potential for Rental Income: One unit of a twin home can be rented out, providing homeowners with an opportunity for passive income if they choose to live in the other unit.
Cons:
Noise: Shared walls can sometimes lead to noise transfer between units, which might impact residents’ comfort and privacy.
Limited customization: While twin homes offer uniformity, this can limit the extent of customization options that homeowners might have compared to single-family homes.
Space constraints: Twin homes could have less outdoor space compared to single-family homes, limiting gardening and landscaping opportunities. Some twin homes may also have limited parking spaces or shared driveways, which can become a logistical challenge, especially if there are multiple vehicles involved.
Are twin homes considered single-family homes?
Twin homes often occupy a gray area between single-family homes and multi-family dwellings. Twin homes have private entrances and separate living spaces, much like single-family homes. However, their distinguishing features are the shared wall and the two units housed within one building. Local regulations and zoning ordinances can vary, and the classification of twin homes might vary depending on how they are legally defined within a specific jurisdiction.
A final note on twin homes
Twin homes offer a unique middle ground between single-family and multi-family homes, providing homeowners with the benefits of both privacy and community living. As the housing market continues to diversify, twin homes stand as a viable option for those seeking affordability, a sense of community, and a distinctive living arrangement.