A new report released this week revealed that the majority of loan originators make $100,000 or more annually.
This was one of the major takeaways from Mortgage Daily’s 2012 Loan Originator Survey, which included 175 originators (120 who completed ALL questions).
Per the survey, nearly 60% of respondents indicated that they made at least $100,000, which is about double the median household income in the United States.
Additionally, many noted that they would have made even more if it weren’t for the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
However, a small share said they profited from the new requirements, perhaps because of fewer competitors in the space.
The biggest complaint from originators had to do with appraisal requirements, and the fact that many appraisals are coming in low these days (sign of the times).
Most of those surveyed do not work for banks, and more than a quarter are self-employed, meaning many could be mortgage brokers.
A study back in 2011 found that mortgage brokers generated average revenue of 2.25 mortgage points per loan, before the new compensation rules took effect, and predicted that number wouldn’t change.
On a $200,000 loan, we’re talking $4,500, less expense. So for the broker originating numerous loans monthly, you can see how it all adds up.
This figure probably used to be a lot higher during the boom, back when loan officers and brokers could get paid excessive amounts by both the lender and the borrower, not just one.
Is the Survey Skewed?
While this survey gives us a little insight into how much some originators are making these days, the number of participants is a bit limited.
Additionally, you have to wonder how many of the low-producing originators chose to take part in the questionnaire.
Those who aren’t having a banner year might not be keen on filling out a survey.
And salaries are always going to display an enormous range in the real estate business, mainly because there are those who work part-time, those who just entered the fray, and those who have been in business for decades that are well connected.
Just look at real estate agents, excuse me, Realtors, who made a median $34,100 in 2010.
The median salary for those in business for two years or less was just $8,900, while it was $47,100 for those in business 16 years or more, per NAR.
And 16% earned a six-figure income, revealing the major disparity among agents.
Fifth Third Providing Employment Solutions to Unemployed Mortgage Borrowers
Here’s a little something related, as it has to do with employment. Fifth Third Bank said it partnered with NextJob, a “nationwide reemployment solutions company,” to find jobs for its unemployed mortgage borrowers.
The program, which was piloted in 2012, targets bank customers who are at serious risk of default on their mortgages.
Of those who took part so far, 40% were fully employed after six months, making the program a novel way for both the bank and borrowers to avoid foreclosure.
NextJob helps borrowers create an effective resume and cover letter, carry out a targeted job search, and train and prepare for interviews.
Perhaps banks and lenders should consider hiring these at-risk borrowers in their own lending departments, seeing that they’re all having capacity constraints.
That could solve two problems in one, and by the sound of it, the compensation ain’t too shabby. But in all seriousness, if you’re a Fifth Third mortgage customer in need of assistance, check it out.
Imagine making $1,000 for every $100 you spend on real estate leads. Today’s guest, Joe Herrera of the Joe Taylor Group, does exactly that with a smart, simple Facebook advertising strategy. Listen and learn how to create viral property ads and how to consistently convert the leads that they generate. Plus, you’ll hear how to hold a team of Realtors accountable, what works best for buyer leads in 2023, and why you should not advertise a property’s price.
Listen to today’s show and learn:
About Joe Herrera [0:41]
Why Joe focuses on Facebook for real estate leads [4:43]
How to stop playing Zillow’s game [7:50]
An argument for not listing a property’s price [9:24]
Determining lead spend based on agents’ needs [12:55]
What to expect when you start running ads on Facebook [15:13]
How soon you’ll know whether or not a real estate ad is working [19:29]
How leads come in when running Facebook ads [21:34]
Why Zillow isn’t the right fit for Joe’s real estate business [24:49]
Focusing on the why instead of the what when working buyer leads [27:59]
Building the right relationship with potential clients [29:23]
What the 9-6-6 follow-up schedule looks like [31:50]
Joe’s coaching and lead-gen program for busy real estate agents [33:16]
Common conversion mistakes [36:45]
The difference between customer service and sales [39:51]
How to hold real estate agents accountable [41:40]
Joe’s real estate goals for the next few years [45:41]
The most relevant voice in real estate [49:16]
Joe Herrera
Joe Herrera is a multifaceted individual who seamlessly blends passion and responsibility into his various roles. As a keynote speaker, coach, mentor, lead generator, podcast host, and associate broker of Real Broker, Herrera’s enthusiasm for his work is contagious.
With more than a decade of experience as a lead conversion coach, Herrera has an impressive track record of generating more than 10,000 leads annually. His exceptional team, the Joe Taylor Group, closes an outstanding 1,000 units each year, expanding its presence to seven locations across North America. Notably, Herrera has graced the stage as a featured keynote speaker at prestigious real estate events across the U.S. and Mexico, sharing his expertise and insights.
In addition to his accomplishments in real estate industry, Herrera’s entrepreneurial spirit shines as he owns and operates several businesses specializing in investment and lead generation. His commitment to helping others extends further through his dedicated Velocity coaching business, where he pays it forward by guiding and supporting aspiring professionals.
As a Las Vegas area REALTOR®, Herrera understands the significance of buying or selling a home as a major life event for his clients. Beyond being a salesperson, he embraces his role as a trusted guide, providing unparalleled support and expertise throughout the process.
Outside of his professional pursuits, Herrera remains deeply connected to his community and family. He devotes his time to various acts of service, always ready to give back to those in need. An avid golfer, Herrera enjoys spending quality time with his kids, hitting the links at his favorite golf courses across the country.
Joe Herrera’s story is one of dedication, ambition, and genuine care for others – a testament to his remarkable character and the positive impact he brings to both the real estate industry and his community.
Related Links and Resources:
It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.
Hate cold calling? Hear how to ditch it entirely on this podcast with organic-lead-gen expert Charlie Cameron. Charlie generated an incredible amount of real estate business incredibly fast, and it was very inexpensive. Today, he shares the low-cost tech tools and proven strategies that helped make it happen. Discover how he built a booming Facebook group, how he consistently ranks above competitors on Google, and more on this Real Estate Rockstars!
Listen to today’s show and learn:
About Charlie Cameron [0:54]
“Easy money” [2:20]
Getting clients from a Facebook group [3:25]
You don’t have to cold call [4:54]
How NOT to fail at Facebook groups [6:37]
Ways to help your Facebook group grow [8:46]
Charlie’s follow-up process for Facebook leads [12:44]
How much business Charlie gets from his Facebook group [19:22]
Attracting clients and agents with blogging and SEO [20:43]
How to ensure potential clients find you online [27:42]
Ways to get ahead with organic lead gen now [30:14]
Charlie’s content-machine goal [36:44]
Advice on picking a platform for your content [38:11]
Charlie Cameron’s advice for real estate agents [44:56]
Charlie Cameron
Real estate super nerd, family man and veteran! I’m passionate about real estate and obsessed with helping others win and with continuous growth.
Charlie Cameron is a Dad, military spouse, and Air Force veteran (turned reservist) who found a passion for real estate while serving. Thanks to real estate—largely eXp Realty and investing—he was able to transition out of Active Duty military service to focus on real estate! People and real estate are his passions, and helping other succeed is what he finds most rewarding.
Charlie enjoys mentoring growth-minded agents the most. At this time, he is growing an international real estate team, building a local military-focused real estate team along the Florida Panhandle, and scaling an as-passive-as-possible real estate portfolio of short term rentals, residential assisted living, and more! He is also an Air Force Reservist in a part time capacity (2 weeks a year) as a weapon program manager.
By leveraging teams, systems, automation, and intentional task prioritization, Charlie is able to prioritize his most important thing: living in the moment with family & friends!
Current lines of effort:
Grow international real estate team: help other real estate agents become successful, grow their leads and business, create multiple income streams, and achieve financial freedom. Team growth achieved through blog and content creation.
Lead a local military-first real estate team: though long term low effort client attraction efforts, Charlie provides clients to his local military focused team to work and close!
Scale a real estate investment portfolio: real estate investing is best investing!
Charlie has a bachelors in Mechanical Engineering from the University of Virginia and a Masters in Industrial Engineering from New Mexico State. He starting investing in real estate while serving in 2017 by STARTING with 8 apartments which he self managed. After scaling a small multifamily portfolio he transitioned and 1031 exchanged into a self managed short term rental portfolio, all of which he managed from afar. Recently he has pivoted again into the residential assisted living niche. Charlie partners on just about every investment deal he does.
Charlie spent 11 years on Active Duty, as an engineer and officer developing, testing, and managing cutting edge weapons systems programs to ensure the Air Force stays undefeatable! He led hundreds of tests and ran hundreds of million dollar a year programs and contracts developing, acquiring, and testing new weapons for the warfighter. During that time, he also served as a USAA Advisory Panel Member, providing direct feedback on bank and insurance products as a military member to the board of directors. In a past life, he has also been a Firefighter, EMT, and lifeguard.
Charlie is a nerd who loves to tinker and find new ways to grow and implement things in his businesses. While he wishes he was able to focus on only one business, he knows now that resistance is futile and he must find ways to grow multiple lines of effort without consuming more time!
Related Links and Resources:
It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.
If you’re planning to refinance or sell your home, perhaps the first thing you need to consider is how much it’s worth. Unfortunately, getting an accurate estimate of your home’s value today takes some homework.
How accurate are online calculators?
You’ve probably encountered calculators on real estate sites that make it look easy to value your home. By entering your address, you get a number or a range of values. Unfortunately, not all of these are accurate.
Try out a few calculators and you’ll end up with an uncomfortably wide range of values. The reason is that the quality and currency of their data varies. Moreover, none can look inside a home and see how well it has been maintained or improved.
Appraisals are the most effective
Whether you are refinancing, selling or buying, the only valuation that counts is the appraisal from a licensed appraiser hired by the lender who is doing your refinancing or financing a prospective buyer.
Even if the buyer and seller agree on a price, an appraisal lower than the agreed on price will force the buyer to come up with more cash or the seller to lower his price to save the deal. During times like these when prices are rising, appraisals often are lower than contract prices.
In fact, studies show that owners overestimate the value of their homes about 11 percent of the time.[1] In February, appraisal issues killed 11 percent all deals that were terminated before closing.[2]
Should you get an appraisal before listing?
Getting the home’s value right is the first step in pricing a home before it is listed. Real estate agents can help you decide how to price your home for the market, but if you want to what it’s actually worth before you list it, you should hire an appraiser (generally around $500).
There’s one more reason that a current appraisal makes sense for sellers. Appraisal data is collected and aggregated by data services who sell it to websites with home valuation calculators. Getting a fresh appraisal into the mix increases the odds that the value that buyers see when they surf your listing will be more accurate and current.
Buyers can also hire their appraiser if they do not trust their lender’s appraisal, but fighting an appraisal is rarely a successful strategy. It is better to do some homework before making an offer, especially if you are relying on the values generated by website calculators.
How to find comps
When appraisers determine valuations, they select three or more houses of roughly the same number or beds and baths, same square footage, age and lot size that have sold within the past six months—or ideally, the past 90 days. In a busy time of year, like the spring or early summer, market trends can change prices significantly. These comparable homes, or “comps,” should also be located as close as possible to the house being appraised.
Finding this data can be difficult for the layperson. Real estate agents have access to it, though. They can locate comps using the same criteria as an appraiser and create an estimate of a house’s value, called a comparative market analysis or CMA. A good CMA provides a useful analysis of current market conditions as well as a range of the house under consideration. Best, of all, it is usually free.
What does the future hold?
New methods of valuing houses using “Big Data” techniques that require extensive data from millions of properties are now being developed for use by investors, appraisers and lenders. Someday soon, they also will be available to real estate consumers.
Are you looking for the best side jobs for teachers? Teaching is a great career choice and teachers are very much needed in the world. Unfortunately, though, it is not the highest-paying job that exists. Due to that, you may be looking to find ways to make extra money as a teacher. Side hustles for…
Are you looking for the best side jobs for teachers?
Teaching is a great career choice and teachers are very much needed in the world. Unfortunately, though, it is not the highest-paying job that exists. Due to that, you may be looking to find ways to make extra money as a teacher.
Side hustles for teachers are great because they can help you make extra income, pay off debt, save for a vacation, and more.
Teachers have many useful skills, which make them a great fit for many different side hustles alongside their main teaching job.
Quick Summary on Side Jobs For Teachers:
Online tutoring and selling lesson plans are popular side jobs for teachers that use their existing skills
Selling crafts, selling printables, or teaching online courses can be a nice creative outlet
Short-term and seasonal side gigs like coaching sports or teaching summer school may be better for your schedule than year-round gigs
Best Side Jobs For Teachers
There are 36 side jobs for teachers listed below. If you want to skip the list, here are some jobs that you may want to start learning more about first:
Below are 36 side hustles for teachers.
1. Sell educational printables
Selling educational printables can be a great way for teachers to make extra income and it is great for anyone who wants to learn how to make passive income as a teacher.
An educational printable is a teaching resource, either digital or physical, that educators create to help with learning.
Other teachers buy these for their classes and so do parents.
Educational printables are things like math problems, vocabulary cards, and science experiments. They work for different grades and learning goals, making it an easy way to add to regular teaching or homeschooling. You can share these resources online or print them for in-person classes, making them a helpful tool for improving education.You can learn more at How I Make $400,000 Per Year Selling Educational Printables.
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
2. Tutor online or in person
Tutoring services or helping kids get ready for standardized tests either online or in person can be a great side hustle for teachers.
This option can be a natural fit, as you can use your teaching skills to tutor students.
To start, check out different online tutoring websites like Tutor.com or you can also do in-person tutoring sessions. For in-person tutoring sessions, you can contact local tutoring companies or promote your services on social media or in local Facebook parent groups for your area.
3. Sell your lesson plans
As a teacher, you already make lesson plans for your classes. You can actually sell your lesson plans, earn extra money, and help other teachers.
The most popular platform for this kind of side job is Teachers Pay Teachers (TPT). Here, you can upload your lesson plans, activities, assessments, and other educational resources. Each time someone purchases one of your items, you’ll earn some income.
Lesson plans need to be well-organized, easy to understand, and tailored to specific grade levels and subjects (such as fifth grade math). You should include clear objectives and step-by-step instructions to make your lesson plans more appealing to potential buyers.
4. Coach a school sport or other after-school program
Coaching a school sport is something that you can do within your own school district as many schools are in need of help with their sports teams.
Some sports and after-school programs that can be a teacher’s side hustle include soccer, basketball, volleyball, and track-and-field, as well as clubs such as yearbook, chess, choir, and more.
5. Start a dog bakery
Starting a dog bakery can be a fun side job for teachers who love both dogs and baking.
You can make an extra $500 to $1,000, or even more, each month by making treats for dogs. You can make dog treats like cupcakes, cookies, cakes, and more.
You can learn more at How I Make $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!).
6. Sell crafts on Etsy
Selling crafts on Etsy can be a great way to make extra money by being creative.
Etsy is a website where people from all over can buy and sell handmade and digital products.
Some ideas for products you can create and sell on Etsy that are teaching-related include:
Classroom decor items
Educational games and activities
Customized planner pages and stickers
Flashcards and study materials
Of course, you can create things that aren’t related to teaching at all, such as knitwear, jewelry, and more.
7. Sell on Teachers Pay Teachers
Teachers Pay Teachers (TPT) is a site specifically for educators to buy and sell educational materials, and this is a popular teacher side hustle. If you’ve developed lesson plans, worksheets, or other teaching tools for your classroom, you can share and earn from them on TPT.
I know I talked about selling education printables and lesson plans above, but I want to talk more about Teachers Pay Teachers in its own section because it is such a popular teacher side hustle.
You can sell:
Lesson plans and unit studies
Worksheets and printable activities
PowerPoint presentations and interactive notebooks
Posters, charts, and visual aids
For example, I looked on Teachers Pay Teachers and searched for third grade lesson plans. There, I found over 49,000 results such as math lesson plans about rounding, substitute teacher plans for third graders, reading comprehension lesson plans, and more. Here’s an example of one that you can look at.
The average teacher on Teachers Pay Teachers can make around $300 to $500 extra, but there are some teachers that make hundreds of thousands of dollars extra each year.
8. Babysit
As a teacher, you may find that babysitting is an easy side job to pick up, and, depending on where you live, you may be able to earn around $15 to $25 an hour. Parents love hiring teachers as babysitters because they have so much experience with children.
While babysitting, you’ll find that your existing skills from teaching make a difference in providing the best care possible.
9. Teach English as a second language online
Teaching English as a second language (ESL) online is a popular side job for teachers. As an online ESL teacher, you can help students learn English and work from home.
Most jobs require you to be a fluent English speaker with a bachelor’s degree.
10. Teach summer school
One of the obvious ways for teachers to make extra money in the summer is to teach summer school.
It’s a great way to make use of your teaching skills while earning extra income. Plus, summer school takes place during summer break, so it should fit well with your schedule of already being off from school.
11. Summer camp counselor
Another great option during the summer months is to become a summer camp counselor.
As a counselor, you’ll supervise children in activities such as sports, arts, and crafts. Camps are always looking for instructors with teaching experience, making this a good side job for educators.
12. Grade papers
Grading papers as a side job may appeal to you if you’re looking for a more flexible, at-home option.
Companies such as Measurement Inc. hire teachers to grade student work, such as essays and test answers.
They are hiring evaluators to score in the subjects of English, mathematics, science, and more and pay starts at $15 per hour.
13. Work at a restaurant
If you’re looking for something completely different from teaching, you could take a part-time job at a restaurant.
Working in restaurants can be a good fit for teachers because they often offer flexible hours that can align with your teaching schedule. You can choose jobs like being a server, host, and more.
14. Proofread
As a teacher, you are probably already a great proofreader and are able to spot mistakes easily. With these skills, proofreading can be a great side job. By proofreading, you can help authors, website owners, students, and more improve their writing while earning some extra income.
Even the most skilled writers can make mistakes in grammar, punctuation, and spelling. That’s why hiring a proofreader can be very helpful for pretty much anyone and everyone.
If you want to find online proofreading jobs, I recommend watching this free 76-minute workshop all about how to get started proofreading.
Recommended reading: 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year).
15. Blog
Blogging can be a fun way for you, as a teacher, to make extra money from home. Many blogs are run by teachers, and I completely get why – you can blog in your spare time and you don’t have to stick to any formal schedule.
To start your own blog, first, choose a topic that you’re interested in writing about, maybe something related to your teaching field or a hobby you enjoy.
You can make money from your blog in ways such as:
Affiliate marketing – Share links to products or services related to the topic you are writing about, and earn a commission for sales generated from your referral links.
Advertising – Include display ads or sponsored posts on your blog.
Courses and ebooks – You can create courses or ebooks related to your area of expertise, and sell them through your blog.
Since I began Making Sense of Cents, I’ve made more than $5,000,000 from my blog, and it all started as a side job.
Learn more at How To Start A Blog FREE Course.
Similar to blogging, a teacher could also start a YouTube channel, a TikTok, and more.
16. Freelance write
If you are looking for side jobs for teachers from home, then becoming a freelance writer can be a great choice.
Freelance writers write content for blogs, websites, magazines, newspapers, advertising companies, and so much more.
You can find different writing jobs on platforms like Upwork and Fiverr, or even find clients on your own, such as by reaching out to websites that you are interested in writing for.
Recommended reading: 14 Places To Find Freelance Writing Jobs – (Start With No Experience!)
17. Transcribe
An online transcriptionist’s job is to listen to video or audio files and then type out everything that they are hearing. There are many different types of transcriptionists, such as legal, general, and medical transcriptionists.
This job requires strong typing and listening skills, and you can work from home on your own schedule.
Transcriptionists earn around $15 to $30 per hour on average.
I recommend watching FREE Workshop: Is a Career in Transcription Right for You? You’ll learn how to get started as a transcriptionist, how you can find transcription work, and more.
Recommended reading: 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly
18. Flip used items for resale
Flea market flippers find underpriced items at flea markets, yard sales, and thrift stores, then resell them for a profit. This job requires a good eye for finding valuable items that you believe can be sold for a higher price.
As a teacher, you could find and sell items in the evening, on the weekends, over holiday breaks, and in the summer. You get to make your own schedule, and it can be however many or few hours as you want.
Some items that you can resell include:
Vintage furniture
Collectibles, such as toys, coins, stamps, books, and more
Sporting equipment
Clothing
Electronics
I recommend signing up for a helpful webinar on this topic, How To Turn Your Passion For Visiting Thrift Stores, Yard Sales & Flea Markets Into A Profitable Reselling Business.
19. Bookkeep
Bookkeepers are people who keep track of all the money-related things for businesses. Bookkeepers do tasks like:
Tracking income
Organizing expenses
Making financial reports
This is typically a flexible job that you can do from home on your own time.
You can join the free workshop that focuses on finding virtual bookkeeping jobs and how to begin your own freelance bookkeeping business by signing up for free here.
Recommended reading: How To Find Online Bookkeeping Jobs
20. Sell Canva templates
Creating and selling Canva templates online allows you to work from home in your free time.
A Canva template is like a pre-designed layout that you can use for creating things like social media graphics, Pinterest pins, ebooks, or presentations. It is a helpful starting point if you’re not very skilled at designing from scratch. Business owners, marketing professionals, nonprofit organizations, educators, event planners, restaurants, and more buy templates all the time.
Canva templates come with blank spaces where buyers can add their own words or pictures, adjust colors and fonts, and more. They’re useful for people who want their graphics to look high quality without spending a lot of time in the process (or perhaps they don’t know how to do it so templates help them a lot!).
Making and selling Canva templates can be a great way to earn extra money as you only need to create them once, and then you can sell them as many times as you’d like.
Recommended reading: How I Make $2,000+ Monthly Selling Canva Templates
21. Rover (walk and watch pets)
Rover is a website that links pet owners with pet sitters and dog walkers. You can do this job on the weekends throughout the year, or simply only open up your schedule during the summer months. It is up to you.
Getting started is easy on Rover – you set up a profile that talks about your experience with pets and the services you can provide, like dog walking, pet sitting, and house sitting.
Then, you will receive requests from customers and talk about pricing. Rover takes care of processing payments, and you’ll receive payments directly into your account.
You can sign up for Rover here.
22. Care.com
Another platform for finding pet and house sitting side jobs is Care.com. Care.com is not limited to pet care and includes other caregiving services, such as childcare and senior care.
You can browse available jobs in your area and apply to those that match your skills and interests. Care.com also allows clients to contact you directly for your services after you’ve created a profile. Once a job is completed, you’ll receive payment through the site.
23. Be a virtual assistant
A virtual assistant provides administrative, technical, or creative support to clients from home.
Some of the tasks you might do as a virtual assistant include managing schedules, responding to emails, making travel arrangements, handling social media accounts, and even writing articles or creating presentations.
If you want to become a virtual assistant, I recommend taking the free workshop called 5 Steps To Become a Virtual Assistant.
Recommended reading: Best Ways To Find Virtual Assistant Jobs
24. Be a food photographer
Food photography can be a fun and creative way to earn extra income during your free time. Food photographers do just that – take pictures of food.
Whether you’re working directly for restaurants, magazines, or on a freelance basis, this job allows you to use your skills and interests to create beautiful images.
You can learn more at How To Become a Food Blog Photographer And Earn Over $50,000 Each Year.
25. House sit
As a teacher, you might be looking for ways to make some extra money during breaks or weekends. One option to consider is house sitting, and this is when you watch someone’s home (such as watering their plants and collecting mail) and sometimes take care of pets while their owners are away. People also hire house sitters so that their homes aren’t sitting empty because a visible presence can deter potential thefts.
To get started in house sitting, you can join house-sitting websites to find opportunities in your area, or ask friends and family for referrals (you might want to start by house sitting for people you know and then ask for references that you can use to broaden your job search).
26. Rent out an unused room in your home
If you have a room in your home that you are not using, then you may be able to rent it to someone on either a short-term (such as by becoming an Airbnb host) or long-term basis (getting a full-time roommate).
I have rented out rooms many times in the past, and it was a great way to make some extra income for space that I wasn’t using.
You can learn more at What You Need To Know About Renting A Room In Your House.
27. Rent your garage space
If you have empty storage space, such as a garage, driveway, closet, basement, or attic, you may be able to rent it out and make extra money. This can be a lucrative side hustle where you don’t have to use up much of your spare time.
You can use Neighbor to list your extra space for rent and make up to $15,000 per year by doing so. With Neighbor, you can rent out your garage, driveway, basement, or even a closet.
You can sign up at Neighbor for free here and list your space.
You can also learn more about Neighbor at Neighbor Review: Make Money Renting Your Storage Space.
28. Rent out a photo booth
Renting a photo booth can be a fun side job for teachers.
To get started, you will need to buy a photo booth as well as things like backdrops and props for people to hold in the picture (such as hats, signs, fun things to hold, etc.).
On average, photo booth rentals can range from $500 to $1,000 per event, and in some cases, even more for specialized events or packages with additional features.
I have personally rented a photo booth for an event in the past, and it was a lot of fun!
29. Online surveys and focus groups
Taking online surveys and answering questions for focus groups is very part-time and can be a way to side hustle for teachers.
You share your thoughts plus answer questions and can earn cash or free gift cards.
The survey companies I recommend signing up for are:
American Consumer Opinion
Survey Junkie
Swagbucks
InboxDollars
Branded Surveys
Pinecone Research
PrizeRebel
User Interviews – These are the highest paying surveys with the average being around $60.
Recommended reading: 18 Best Paid Survey Sites To Make $100+ Per Month
30. Voice over act
A voice-over actor is the person whose voice you hear but don’t see in YouTube videos, radio ads, educational videos, and more.
Different companies need a wide variety of voices, and that’s where you come in.
Recommended reading: How To Become A Voice Over Actor And Work From Anywhere
31. Mystery shop
I was a secret shopper in the past, and there were often mystery shops that gave me $100 to put toward a free dinner. I always looked forward to these, as I was living paycheck to paycheck, and I used these restaurant mystery shops to reward myself every now and then.
There were other mystery shops that paid me actual money, and some paid me in free items, such as makeup, movie theater tickets, and car oil changes.
Companies hire mystery shoppers to get an understanding of their customer’s experience. Companies want to know a real product opinion, how the customer felt they were treated at their business, how phone calls were handled, and more.
Basically, mystery shopping is a way to anonymously test the entire shopping experience.
You can learn more at How To Become A Mystery Shopper.
32. Fitness trainer
Fitness trainers help people reach their health goals through customized exercise plans and nutrition advice. This is typically a job where you can choose your schedule, so you can choose to work hours outside of your teaching job, such as in the evenings and on the weekends.
I actually know a few teachers who are fitness trainers on the side, so it must be a good fit!
Another positive is that you can even choose between in-person and online coaching. Online coaching can mean that you can work remotely, making it a more flexible side job for teachers looking to earn extra income.
33. Find random gigs on Craigslist
As a teacher looking for side jobs, you can look for random gigs on Craigslist to earn some extra income. To begin your search, simply go to the Craigslist website and select your city from the home page.
Here are some jobs I found through a quick search:
Cleaning a house
Help assembling furniture
Taking down a shed in a backyard
Garage cleanup
Mover
Handyman
Movie extra
Sign holder
You can even post your own services on Craigslist if you have a skill you’d like to share with others, such as giving music lessons or tutoring.
34. Deliver groceries with Instacart
Grocery delivery services are popular because there are more and more people who want someone to do their grocery shopping for them.
Services like Instacart need personal grocery shoppers, and the average shopper makes $15 to $20 an hour to deliver groceries. Drivers are paid per order, and you get to keep 100% of your tips. You also get to choose your schedule, so a teacher could choose to work in the evenings or on weekends. Or, you could choose to only deliver groceries during the summer.
You can click here to sign up to be an Instacart Shopper.
You can also learn more at Instacart Shopper Review: How much do Instacart Shoppers earn?
There are many other gig ideas that you can try out too, such as Uber Eats and DoorDash.
35. Real estate agent
Some teachers are real estate agents on the side of their full-time job as a teacher. This is because you can list and sell homes on your weekends, during breaks, at night, and over the summer.
Selling homes can be more difficult, though, as your clients may want your full attention during the day occasionally and you would be busy teaching, so this is something to think about.
36. Driver’s ed teacher
A common side hustle for teachers is teaching driving lessons to teenagers and adults. As a teacher, you may be able to check if the high school near you is in need of a teacher for this subject. Or, you can reach out to a local driving school to see if they are hiring.
Driving instructors make around $20 an hour more or less, depending on where you live.
Frequently Asked Questions
Below are answers to common questions about side hustles for teachers.
How can I make money on the side while teaching?
Some good side jobs for teachers include tutoring, freelancing, transcribing, blogging, selling lesson plans, and more.
What can teachers do to make extra money?
Teachers can do a lot of things to make extra money, such as jobs like tutoring, freelance writing, blogging, or creating educational printables.
What is a second career for teachers?
Second careers for teachers can include jobs such as educational consultants, curriculum developers, or even working in corporate training and development.
Do most teachers have 2 jobs?
Many teachers have two jobs. This is for many reasons, such as the typically low pay of a teacher as well as teachers wanting to make money while they are off in the summer.
How to make extra money on Teachers Pay Teachers?
Teachers can make extra money on Teachers Pay Teachers by selling lesson plans and printables.
How can teachers make money in the summer?
Teachers can make money when they’re off in the summer by teaching summer school, helping students with test prep, babysitting, selling lesson plans, working at a restaurant, working as a real estate agent, and more.
What to do after quitting teaching? How do you pivot out of teaching?
Quitting teaching and moving on to something else will take a few steps, and you can begin by thinking about your skills and interests. Then, start exploring different job options and connect with people in the field you’re interested in, attend industry events, and consider getting any certifications that you may need.
How can teachers earn extra income through online tutoring?
Sites like Tutor.com look for teachers to tutor students remotely, and you can even offer your services through social media.
How can a teacher make six figures by utilizing their skills?
While it’s not always easy for teachers to earn a six-figure salary, it is possible if you find ways to make extra income or by starting a business of your own.
What opportunities do music educators have for side income?
Side income ideas for music educators can include jobs like giving private music lessons or working as a weekend or evening instructor at a music school. Music educators can also sell lesson plans (I found some examples on Teachers Pay Teachers here).
What are some good side jobs for teachers?
I hope you enjoyed this article on the best side jobs for teachers.
Whether you are looking for side jobs for teachers from home, side jobs for teachers in the summer, or if you want to learn how to make passive income as a teacher, there are many ways to make extra money as a teacher.
Some of the best side hustles for teachers include:
Sell educational printables
Tutor online or in person
Sell your lesson plans
Coach a school sport
Start a dog treat bakery
Sell crafts on Etsy
Sell on Teachers Pay Teachers
Babysit
Teach English as a second language online
Teach summer school
Summer camp counselor
Grade papers
Work at a restaurant
Proofread
Blog
Freelance write
Transcribe
Flip used items for resale
Bookkeep
Sell Canva templates
Rover (walk and watch pets)
Virtual assistant
Food photographer
House sit
Rent out an unused room in your home
Rent your garage space
Rent a photo booth
Online surveys and focus groups
Voice over act
Mystery shop
Fitness trainer
Find random gigs on Craigslist
Deliver groceries
Real estate agent
Driver’s ed instructor
What do you think are the best ways for teachers to make extra money?
What a difference a few months make in the real estate market. Last summer, home prices were selling on the cheap in many cities across the nation.
Fast forward to spring, and the housing market kind of “sucks.” There’s really no other way to put it.
First off, there’s no inventory. This has been an issue for a while now.
Put simply, there’s just very little out there for an individual or family looking to buy a home, at least in the areas they might want to live.
Sure, there are those properties that have been on the market for months, but there’s a reason they’ve been on the market for months.
And yes, you can probably go to a new community built by a mega home builder and find a house, but it’ll likely be on the fringe of a major city next to empty dirt lots and tractors.
Bad Inventory Rising
Because there is a shortage of homes to buy
Prospective sellers are able to list their duds
Knowing that buyers are becoming increasingly desperate
And may overlook flaws or simply settle as a result of the slim pickings available
Now that the housing market is heating up and the media is (rather obnoxiously) getting on board, inventory is finally rising. Let’s call it an inevitable timing thing.
You see, there is real hope in the housing market. And while hope is good for some, it’s not good for buyers, just sellers who finally see the light after so many years in the dark.
Their real estate agents are giving them the green light to dump their properties while avoiding the lengthy short sale process and nasty credit score ding.
Today, these would-be sellers are able to push the values just that little bit more to sell them as standard sales, instead of going the formerly popular short sale route.
After all, a short sale made sense when there was no hope of getting out unscathed, but now that things are looking up, why not hang on a touch longer and avoid the negative ramifications of selling short?
Unfortunately, this means the individual on the other end is picking up the slack at an inflated price, instead of snagging a deal.
Competition Is Extremely Fierce
Not only are the available homes often less desirable
But the competition for these properties is much higher than normal
Making the housing market a really bad place to be as a buyer
Since no one wants to overpay for a home they don’t even love
Factor in the intense competition and you’ve got a double whammy on your hands.
We’re talking inflating the listing price to make it a standard sale, then receiving multiple bids that often push the final sales price above the original ask.
In other words, today’s buyers are acquiring properties with the future home price appreciation already built in.
And that assumes prices actually do increase – it’s not a foregone conclusion, just a rosy expectation at the moment.
I’m also seeing a lot of the notoriously bad properties rear their ugly heads again. Many of these homes sat on the market for months without a single offer, but now they’re going into escrow in a matter of days.
Something is definitely wrong with this picture. I don’t care how low mortgage rates are…
I’ll Wait for Another Dip
The housing recovery won’t feature home prices that go up in a straight line
Just like the downturn ebbed and flowed despite ultimately declining
There might be windows if you’re patient and keep an eye on things
But do expect home prices to keep on rising, and know that it’s okay to just hold off if you don’t find something you truly love
If I wanted to buy a home, I’d hang on and wait for the temporary madness to come to an end. There’s clearly a bubble mentality in the air again, with everyone and their mother bullish on housing.
Whenever that’s the case, it makes for a rather ominous situation. The increase in inventory involves a ton of previously underwater homes that no one wanted, even at lower prices. Or homes that were taken off market and abruptly thrown back on the MLS.
So why would you buy these same homes today at a significant premium? Because a magazine cover said, “Housing Is Back?”
The economy is still in tatters and things don’t exactly appear bright. If anything, a looming stock market crash seems to be on the horizon.
No, the sky isn’t falling, and housing is indeed on the mend after so many off years. But I do see the current cycle as an unsustainable period of growth that will likely unravel as the year goes on.
It’s going to be a bumpy road to recovery, not just a bottom followed by a surge back to new highs. We’ve seen this optimism in past years, only to watch the wheels fall off time and time again.
If you see something you love, go for it. If you’re worried about the missing the boom, you might want to sit down and reassess the situation.
Read more: Buying a home during a seller’s market.
Digital mortgage automation solution provider Floify launched verification of income (VOI) and verification of employment (VOE) waterfall technology that aims to save lenders and mortgage brokers time and reduce costs during the loan origination process.
“The new VOI and VOE features in the Floify platform enable mortgage professionals to view the results of multiple verification reports from different providers, starting with the least expensive one, rather than having to run each one individually,” the company said in a release.
While running employment and income verification reports can be an expensive step in the mortgage process, it’s designed to reduce loan risk during underwriting.
“This unique technology will help our clients reduce costs, which is especially important today as verification-related fees increased significantly in the past three years,” said Sofia Rossato, Floify’s president and general manager.
As these waterfall technologies can be run within the Floify platform, clients may bypass loan origination system add-on fees that often come with enabling new features, Rossato noted.
Founded in 2013, Floify — a subsidiary of Porch Group Inc. — is a software development company that offers a digital loan origination and point-of-sale system for the mortgage industry.
The Colorado-headquartered firm was acquired by publicly traded proptech company Porch Group, Inc. in an $87 million deal in 2021.
Floify’s platform features a secure communications and document management portal and an e-signature option between lenders, borrowers, real estate agents and referral partners, according to the firm’s website.
Floify’s latest release includes a single sign-on (SSO) functionality that aims to improve security and streamline the digital loan origination process for loan officers.
By relying on a single set of trusted credentials from widely-used platforms, such as Google or Facebook, borrowers are able to streamline account creation and management when joining new applications, the company said in June at the time of the SSO launch.
A new survey from Campbell Communications and Inside Mortgage Finance Publications revealed that real estate agents hold sway when it comes to choosing a lender.
In fact, the survey claims 45% of buyer decisions regarding which lender to go with are controlled or influenced by real estate agents.
So instead of shopping around for the best deal or using a family/friend’s referral, many home buyers instead follow the lead of their real estate agent, for better or worse.
This is especially important news for lenders, now that the refinance boom is finally coming to an end, and purchase-money mortgages are expected to take center stage.
The Mortgage Bankers Association expects home purchase lending to increase from $503 billion in 2012 to $585 billion this year.
And you better believe that banks and lenders will want to align with real estate agents to ensure they get as much of that business as possible.
After all, refinance activity is expected to slow tremendously, so they’ll need to make up for that lack of business elsewhere.
Agents Prefer Quick and Reliable Lenders
Real estate agents need to know their buyers can obtain financing
So they prefer to have some sort of control over the lender you choose
Or perhaps they choose one for you or at least direct you toward one
Which explains why they always have a preferred lender
The survey also noted that real estate agents prefer speed and reliability above all else, meaning they might not have a borrower’s best interests in mind.
Sure, it’s better to close than not, but at what price to the borrower? A preferred lender may be quick, but also offer mortgage rates a .25% to .50% above the competition.
And even then, there may still be hiccups, regardless of the relationship.
Real estate agents also indicated that they were big on meaningful status updates, seemingly to ensure loans close on time without delay.
This is especially important in today’s market, seeing that loan origination staff appears to be constrained, and demand is on the up and up.
In fact, two-thirds of the nearly 2,000 agents that responded to the survey said they wanted mortgages to close in 30 days or less.
That can be a tall order at the moment, given the fact that the average purchase transaction has been taking around to a month and half to close.
But there are certainly lenders who move quicker than others, and if a real estate agent can develop a relationship with one that offers competitive pricing, it could be beneficial for everyone involved.
Should You Use the Real Estate Agent’s Lender?
You can choose to be diplomatic and speak to their lender
Often they’ll ask that you at least get pre-approved though there’s no obligation
You don’t have to do either really
But it may not hurt to get another rate quote just to see if they can save you some money on your home loan
Often times when you make an offer on a home, the agent will ask you to get pre-approved with their “preferred lender.”
While it may be in your best interest to get the pre-approval, just to show you’re very serious about buying the property (especially when there are multiple bids), you don’t need to use their lender to obtain your financing.
If anything, you can chalk it up to another mortgage quote, along with the others you hopefully obtain while shopping around.
Just blindly going with the referred bank or lender clearly isn’t wise, because when it comes down to it, you really won’t know how competitive they are unless you shop your loan elsewhere.
Yes, it requires more work, and yes, the real estate agent will probably tell you their mortgage broker or lender is the best in the business, with the lowest possible rates.
They may even go as far as to use scare tactics to get you to use their guy or gal.
But you may regret using them after the fact, especially if they weren’t even able to fulfill expectations on the customer service front.
In other words, get pricing from their preferred lender and see how it stacks up with your other offers, then go from there.
That way you can appease the agents involved and make sure you’re doing your due diligence.
Read more: How to get a better deal on your mortgage rate.
When you’re considering starting home shopping, it’s important to put yourself in the best possible position. To do this, you’ll want to shore up your finances and increase your credit score. Follow these simple steps to get you closer to your homebuying dream.
1. Check Your Credit Score
Your credit score will be one of the main considerations in your mortgage application, so check yours to see what needs the most work. A credit score is based on a number of factors: payment history, credit usage, types of credit, age of credit, and recent inquiries. Though you can’t impact all of these in a short period of time, you can take steps to improve in some areas.
Make sure you’re paying all of your bills on time, as on-time payments have a huge impact on your score. Don’t apply for new lines of credit, but you can request a credit limit increase to current credit lines to improve your usage percentage. If you see any errors on your credit report, dispute them so that errors can be removed or corrected, and target credit usage when you make your budget.
2. Assess Your Finances
To know what you have to do to buy the home of your dreams, you need to know where you stand. Write down everything you have coming in and going out each month first. Some of these expenses, such as your car and student loan payments, stay the same over time and will come with you to your new home. Others are variable and change from month to month, including how often you eat out and your entertainment expenses, and these expenditures can most likely be shaved down or eliminated entirely with a budget.
Because homebuying comes with many expenses–a down payment, inspection fees, closing costs–your budget should be tighter in the period before you buy than normal. You’ll also want to budget for a home warranty; see if a home warranty is worth the money. When developing your budget, focus on eliminating your high-interest debt and saving for those homebuying expenses.
Lenders will also look at your debt-to-income ratio or DTI which is the amount of money you have coming in each month versus the expenses you have. Though it varies between lenders, many lenders will not give a mortgage to someone whose DTI is higher than 43%.
Get matched with a personal
loan that’s right for you today.
Learn
more
3. Understand Homebuying Costs
For nearly every type of mortgage, a down payment is required. A down payment of no less than 20% is suggested to have better home options and lower monthly costs. Conventional loans allow 20%, however, you can also have a down payment of as little as 3%; for down payments below 20%, PMI (private mortgage insurance) is required. Other types of loans, like an FHA loan, require between a 3.5-10% down payment, depending on your credit score. Make sure you understand how much you’ll be spending on your new home by using a mortgage calculator.
Other homebuying fees can add up quickly and be more variable. You will likely have a loan origination fee, inspection fee, appraisal fees, and other fees. You may be able to control some of these by choosing your own professionals. However, others will be selected by the seller, real estate office, or mortgage company.
A brokerage commission may be paid to real estate agents on closing. Your home warranty, property insurance and taxes, and any points you wished to pay to lower your mortgage rate as well as current interest rates will all go into your final costs. Account for all of these expenses when deciding how much mortgage you can afford.
Take steps to improve your creditworthiness and your DTI, and know what you’re looking for when you begin shopping for a lender to work with so you get the best rate possible. With the right moves, you’ll be closing on your dream home in no time.
In the world of real estate, where property expertise reigns supreme, it comes as little surprise that the most successful real estate agents own some of the most remarkable and envy-inducing residences.
With their extensive knowledge of market trends and investment potential — not to mention their keenly trained eye for luxury living — real estate pros are the first to spot desirable properties, often before they are even listed for the general public to see.
They then leverage their design expertise and Rolodex of industry connections to turn their homes into personal sanctuaries that serve as living testaments to their industry acumen and discerning tastes.
Such is the case of Billy Rose, realtor to the stars and co-founder of luxury real estate brokerage, The Agency.
Rose, rated as one of the best real estate agents in Los Angeles (and the entire country, once being named the Number 10 real estate agent in the U.S. by The Wall Street Journal), owns an architecturally distinct home in one of Los Angeles’ best areas, which he’s now bringing to market.
Priced at $5,895,000, the elegant abode has served as Billy Rose’s personal residence for 20 years.
Located in the sought-after Westword neighborhood, the property sits on the “first lot bought in highly coveted Westwood Hills”, per the listing, and is known as the Murrow Residence, named after its original owners.
Rose himself provided a little bit of background on the home’s history.
“The Murrows considered the lot to be the trophy of Westwood Hills,” Billy Rose tells us. “Mr. Murrow, for whom the home was built, was (as I understand it) a bit of a “mucky muck” at the Rand Corporation. He had rigged the front door such that he could attach a 35mm projector to the door and project through to the living room.“
But it’s not just the location that appealed to The Agency co-founder.
The home’s distinct design played a big role too. The 1940-built residence is an outstanding example of International Style architecture (post Deco and pre Mid-Century Modern).
“I find International Style architecture to be sublime,” Billy Rose shared in an exclusive comment for Fancy Pants Homes. “The style is best described as stripped of all unnecessary ornamentation and about accentuating the strengths of the home (the view, the layout, the light, the circulation, the air flow). Le Corbusier (one of the pioneers of what is now regarded as modern architecture) summed it up best when he called a house a “machine for living”.“
Vintage and collectible lighting, designer finishes, and terrazzo and custom-milled walnut floors complement the home’s unique style, while broad expanses of glass in every direction bring the outdoors in.
The house has a total of 5 bedrooms — all suites — with the primary being touted as “one of the best primary suites in its class with extremely generous dual closets and baths”, per the listing.
The inviting chef’s kitchen has its own claim to fame.
“My wife is a chef and she filmed her show “Taste of Melrose” from there,” shared Rose whose wife, model-turned-chef Melissa Rose, has been filming her cooking show in their camera-ready kitchen for years.“It was not only a great exhibition kitchen, but it served us well for our numerous dinner parties.”
When prompted to pick his favorite area of the house, The Agency co-founder signaled out the primary bedroom suite, along with “the original stairway, with its two-story Torrance steel window system“, which he says was one of the things that drew him to the property.
Heading outside, we find a secluded backyard oasis with a cascading pool, spa, fire pit, grassy yard, dining and lounging areas, with mature landscaping, tall hedges, and privacy walls shielding it from prying eyes.
Unsurprisingly, Billy Rose holds the listing along with Stefan Pommepuy, also with The Agency.
And while Rose hasn’t yet been part of the cast of Buying Beverly Hills, the Netflix series starring agents from the luxury real estate brokerage he co-founded alongside Mauricio Umansky, we’re hoping his house will — and that the second season of the show will give us a better look inside his inviting abode.
More stories
This charming storybook cottage nestled under the iconic Hollywood sign will take you back to the early days of Hollywoodland
Home of the Week: Architect Harry Gesner’s personal home, the $22.5M Sandcastle House
An artist’s escape: Donald (@drawbertson) Robertson’s picture-perfect house in Montecito