When the snow melts and bulbs are blooming, buyers are out in force. If you’ve heard that spring (and leading into summer) is a good time to sell, you can tell whoever told you that they’re right for the most part! In many areas, the warmer weather means that people are eager to get out of the house, move while the kids are out of school, and are ready to look at homes with beautifully manicured yards. While hotter climates might have a slight downturn in the market during the 100+ degree weather, other markets thrive. If you’re considering listing your home this spring, you can optimize your home for higher offers with these seven timely tips.
1. Embrace Every Blooming Thing
Crocuses, hyacinth, and tulips peeking through your soil? Great. Blooms can be one of your greatest spring selling assets. If you don’t currently have bulbs in your yard, hit the nursery and purchase sprouted bulbs or opt for plants like pansies and primrose that look great and can withstand an unpredictable spring. Add additional color and curb appeal with planters and pots. You can even plant blooming daffodils or tulips to beds that need a refresh.
Brighten up porches, decks or balconies with potted blooms.
2. Touch Up the Yard and Exterior
When the snow melts, it reveals all the blemishes and flaws that were covered all winter. Before you list, give your home’s exterior a good once-over. Note any dead grass, chipping or fading paint, and damaged sections of fence. Turn your observations into a to-do list and get to work. Rake the grass, clean out beds, fertilize, lay sod, and edge the lawn. Do you need to repair fences, railings, steps, or decks? What about adding paint and stain in those well-worn areas? Even if you don’t find much to fix, consider giving your home an instant facelift by rubbing mineral oil on a painted front door or adding new house numbers.
Paint your front door new leaf green or robins egg blue to make your home one to remember when it comes time to put in offers.
3. Deep Clean
It’s called spring cleaning for a reason. After months shut inside the house, everything can use a good, thorough scrubbing. Have carpets cleaned and wash the windows both inside and out. Clean out closets and attack junk drawers. Wipe down the walls, make tiles and counters gleam, and pay attention to smaller things like grout, which can take a room or wall from dull to sparkling with just a little elbow grease. Clean the oven, and organize and wipe down the laundry room. Sort through towels, sponges, and other cleaning tools and toss ones that are shabby or smelly. Have slipcovers, upholstery, and pillow covers cleaned.
Do your spring cleaning before you list; they might want to buy the furniture too!
4. Perform Pre-inspection Repairs
If you’re selling your house, then you know a buyer is going to want to have ahome inspection completed before they seal the deal. Why not perform a preemptive strike and do your own inspection first? Identify small things that you can update or repair before the buyer can point them out. Often small issues lead buyers to fear there are larger maintenance issues, so making simple repairs before you list is smart. Change out filters, fix that wobbly banister, and take care of small things like torn screens or loose shingles.
Free painted-shut windows, repair screens, and fix broken panes.
5. Box Up Winter
You can make your house and yard feel bigger by simply packing away winter toys, tools, and clothes. Put your winter wardrobe in storage to make closets feel larger. Box up mittens, gloves, hats, and boots. Trade out ice melt and shovels for watering cans and gardening tools. If possible, store winter items neatly in sealed boxes or containers in a shed or off-site storage facility. You don’t want to crowd the garage or yard with items you’ve packed up. Trade out heavy, wintry throws and pillows for brighter, lighter pieces that feel more like spring.
Don’t crowd the garage when you clean out the house; organize it or get a storage unit.
6. Brighten the View
After you’ve cleaned those windows, let the sun shine in. Wash window coverings and trade out dark, dingy drapes for sheers that give your home an airy feeling. Clean blinds and make sure to keep them open during showings. Consider removing valances, which tend to box windows in and create a more formal, stuffy feeling. Add brighter light bulbs to every room to add more light. Outside, add window boxes full of flowers or herbs to set off windows and provide a pleasing view from every angle.
Add sheer drapes inside heavier ones.
7. Bring Spring Inside
Don’t let buyers lose that bouncy, spring feeling once they cross the threshold of your front door. Continue the colors and scents of spring throughout your house. Open windows and let fresh air blow away the remnants of a closed-up winter. Add fresh flowers to mantles, side tables, and the dining room. Display fresh fruit in the kitchen. Use diffusers and candles to bring the crisp, inviting scents of spring inside. Trade out linens, towels, and accents for light, bright colors and clean patterns that make buyers want to cozy up and call your house home.
Fresh flowers will put a spring in buyers’ steps.
Spring is a time for new beginnings, and it can be the perfect time to sell your home, especially when you use Homie! With our low flat fee, you get a dedicated agent who can advise you on how to make your home appealing to buyers, from staging to pricing! Click here to learn more about listing your home with Homie.
If you’ve been looking for a new home in Utah’s current market, you know pickings are slim. Most buyers know what a few gallons of paint can do. But if you’re willing to take on a couple of additional projects, you can turn that ugly duckling house into an affordable dream. Here’s a few ugly features that aren’t too tough to take on.
Something underfoot. Floors. Buyers and sellers frequently have different tastes in what’s under their feet. If the seller replaces the carpet before the home is listed, expect a portion of the cost to be factored into the price (listings that say “all new carpet” are going to cost you more). You’re also unlikely to get top-of-the-line carpet if the seller replaces it simply to list. If you’re not scared of living temporarily with threadbare, stained carpet, request a drop in price in the form of a flooring allowance when you make your initial offer. You may also give the entire room a lift by replacing skinny baseboards with the clean lines of the more modern 5” style. Baseboards are easy to replace and cost around $1.50-$3.00 per foot at home improvement stores.
Fireplace blues. A fireplace is a focal point. But an old-school fireplace with brass trim, mauve tile, ugly rock, or beige brick is an eyesore to just about everyone. Few sellers update the fireplace before putting the home on the market. If they do, they’ve probably updated the entire house as well and are asking a justifiably premium price. But a fireplace eyesore can be easily fixed after move-in with paint (1 gallon: $35), new mantle ($150 and up), or even new tile (DIY for ~ $100, depending on the tile chosen and how much you’re replacing). Be sure to determine if your choice of materials is rated for high heat before starting.
Chained in. A fenced-in backyard is a huge plus even when the fence is not quite your style. Chain link is and looks cheap, but it’s also easily covered. Plants, just as fast-growing bamboo, grape vines, or Virginia Creeper look great year-round. If you need complete cover ASAP, look at privacy netting in decorative patterns (around $2.50 per linear foot). You may also find someone who’s looking to unload scrap fencing or barn wood at a very low price—both make great, rustic fencing options that can be strapped to an existing chain link fence for an all-new look.
Old-school appliances. Regardless of what the listing states, retro doesn’t apply to avocado green appliances or cream-colored dishwashers with fake wood grain trim. But here’s the deal: if those appliances are still in the home you buy, you can bet they’re workhorses, just not pretty. If a seller spends the cash to update the appliances just to sell the house, you probably won’t get top of the line or even the appliances that you may want—and you’ll pay a premium. There are numerous ways to solve unattractive-but-working appliances, however. Search yard sale sites (like KSL Classifieds or local Facebook groups) for people who are remodeling. When people purchase brand new homes they often opt not to keep the builder-selected appliances. Keep your eyes peeled for individuals selling all new appliances—or even entire kitchens!
Dismal driveway. No one ever bought a home because of the driveway… but a cracked one in desperate need of repair drastically reduces curb appeal and brings the listing price of the home down. As a buyer, you’ll benefit from the lower price and you don’t even need to do the driveway repair work yourself. A professional will break up and haul away the old driveway and pour a new driveway all for a couple grand (depending on square footage).
Remember, those nice-looking renovated homes will not only cost you more, but chances are you’d choose different appliances, carpet or flooring for yourself. Buy the house that’s located where you want to live and that has the views and schools you want, then take the time to make the needed updates and repairs as you can afford them.
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.
36k salary is a solid hourly wage; above most minimum hourly wage jobs.
For most people, an entry-level job would be paying just over $36,000 a year. The question that remains is can you make a living off $36k a year.
The median household income is $67,521 in 2020 which decreased by 2.9% from the previous year (source). Think of it as a bell curve with $68K at the top; the median means half of the population makes less than that and half makes more money.
The average income in the U.S. is $48,672 for a 40-hour workweek; that is an increase of 4% from the previous year (source). That means if you take everyone’s income and divided the money evenly between all of the people.
But, the question remains can you truly live off 36,000 per year in today’s society since it is well below both the average and median household incomes? The question you want to ask all of your friends is $36000 per year a good salary.
In this post, we are going to dive into everything that you need to know about a $36000 salary including hourly pay and a sample budget on how to spend and save your money.
These key facts will help you with money management and learn how much per hour $36k is as well as what you make per month, weekly, and biweekly.
Just like with any paycheck, it seems like money quickly goes out of your account to cover all of your bills and expenses, and you are left with a very small amount remaining. You may be disappointed that you were not able to reach your financial goals and you are left wondering…
Can I make a living on this salary?
$36000 a year is How Much an Hour?
When jumping from an hourly job to a salary for the first time, it is helpful to know how much is 36k a year hourly. That way you can decide whether or not the job is worthwhile for you.
36000 salary / 2080 hours = $17.31 per hour
$36000 a year is $17.31 per hour
Let’s breakdown how that 36000 salary to hourly number is calculated.
For our calculations to figure out how much is 36K salary hourly, we used the average five working days of 40 hours a week.
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, divide the yearly salary of $36000 by 2,080 working hours and the result is $17.31 per hour.
Just above $17 an hour.
That number is the gross hourly income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
You must check with your employer on how they plan to pay you. For those on salary, typically companies pay on a monthly, semi-monthly, biweekly, or weekly basis.
What If I Increased My Salary?
Just an interesting note… if you were to increase your annual salary by $7K to $43K per year, it would increase your hourly wage to over $20 an hour – a difference of $3.36 per hour.
To break it down – 43k a year is how much an hour = $20.67
That difference will help you fund your savings account; just remember every dollar adds up.
How Much is $36K salary Per Month?
On average, the monthly amount would be $3,000.
Annual Salary of $36000 ÷ 12 months = $3000 per month
This is how much you make a month if you get paid 36000 a year.
$36k a year is how much a week?
This is a great number to know! How much do I make each week? When I roll out of bed and do my job of $36k salary a year, how much can I expect to make at the end of the week for my effort?
Once again, the assumption is 40 hours worked.
Annual Salary of$36000/52 weeks = $692 per week.
$36000 a year is how much biweekly?
For this calculation, take the average weekly pay of $692 and double it.
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x 52 weeks = 260 working days
Annual Salary of$36000 / 260 working days = $138 per day
If you work a 10 hour day on 208 days throughout the year, you make $173 per day.
$36000 Salary is…
$36000 – Full Time
Total Income
Yearly Salary (52 weeks)
$36,000
Monthly Salary
$3,000
Weekly Wage (40 Hours)
$692
Bi-Weekly Wage (80 Hours)
$1,384
Daily Wage (8 Hours)
$138
Daily Wage (10 Hours)
$173
Hourly Wage
$17.31
Net Estimated Monthly Income
$2,290
Net Estimated Hourly Income
$13.21
**These are assumptions based on simple scenarios.
36k a year is how much an hour after taxes
Income taxes is one of the biggest culprits of reducing your take-home pay as well as FICA and Social Security. This is a true fact across the board with an all-salary range up to $142,800.
When you make below the average household income, the amount of taxes taken out hurts your hourly wage.
Every single tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
So, how much an hour is 36000 a year after taxes?
Gross Annual Salary: $36,000
Federal Taxes of 12%: $4,320
State Taxes of 4%: $1,440
Social Security and Medicare of 7.65%: $2,754
$36k Per Year After Taxes is $27,486
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$27486 ÷ 2,080 hours = $13.21 per hour
After estimated taxes and FICA, you are netting $27,486 per year, which is $8,514 per year less than what you expect.
***This is a very high-level example and can vary greatly depending on your personal situation and potential deductions. Therefore, here is a great tool to help you figure out how much your net paycheck would be.***
Taxes Based On Your State
In addition, if you live in a heavily taxed state like California or New York, then you have to pay way more money than somebody that lives in a no tax state like Texas or Florida. This is the debate of HCOL vs LCOL.
Thus, your yearly gross $36000 income can range from $24,606 to $28,926 depending on your state income taxes.
That is why it is important to realize the impact income taxes can have on your take home pay. It is one of those things that you should acknowledge and obviously you need to pay taxes. But, it can also put a huge dent in your ability to live the lifestyle you want on a $36,000 income.
How Much Is 36K A Year Hourly Salary Calculator
More than likely, your salary is not a flat 36k, here is a tool to convert salary to hourly calculator.
Many entry-level jobs start at this range, which may make you believe that a business degree is worth it.
36k salary lifestyle
Every person reading this post has a different upbringing and a different belief system about money. Therefore, what would be a lavish lifestyle to one person, maybe a frugal lifestyle to another person? And there’s no wrong or right, it is what works best for you.
One of the biggest factors to consider is your cost of living.
In another post, we detailed the differences of living in an HCOL vs LCOL vs MCOL area. When you live in big cities, trying to maintain your lifestyle of $36,000 a year is going to be extremely difficult because your basic expenses, housing, transportation, food, and clothing are going to be much more expensive than you would find in a lower cost area.
To stretch your dollar further in the high cost of living area, you would have to probably live a very frugal lifestyle and prioritize where you want to spend money and where you do not. Whereas, if you live in a low-cost of living area, you can afford the cost of living and maybe save more money. Thus, you have more fun spending left in your account each month.
As we noted earlier in the post, $36,000 a year is well below the average income that you would find in the United States. Thus, you have to be wise in how you spend your money.
What a $36,000 lifestyle will buy you:
If you are debt free and utilize smart money management skills, then you are able to enjoy the lifestyle you want.
You are able to rent in a decent neighborhood in LCOL.
Driving a beater car is normal.
You should be able to meet your basic expenses each and every month.
Not be able to afford many of the fun spending luxuries.
Ability to make sure that saving money is a priority, and very possibly save $5000 in one year.
When A $36,000 Salary Will Hold you Back:
However, if you are riddled with debt or unable to break the paycheck to paycheck cycle, then living off of 36k a year is going to be pretty darn difficult.
There are two factors that will keep holding you back:
You must pay off debt and cut all fun spending and extra expenses.
Break the paycheck-to-paycheck cycle.
It is possible to get ahead with money!
It just comes with proper money management skills and a desire to have less stress around money. That is a winning combination regardless of your income level.
$36K a year Budget – Example
As always, here at Money Bliss, we focus on covering our basic expenses plus saving and giving first, and then our goal is to eliminate debt. The rest of the money leftover is left for fun spending.
If you want to know how to manage a 36k salary the best, then this is a prime example for you to compare your spending.
You can compare your budget to the ideal household budget percentages.
recommended budget percentages based on $36000 a year salary:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$150
Savings
15-25%
$450
Housing
20-30%
$884
Utilities
4-7%
$135
Groceries
5-12%
$270
Clothing
1-4%
$18
Transportation
4-10%
$135
Medical
5-12%
$150
Life Insurance
1%
$8
Education
1-4%
$8
Personal
2-7%
$24
Recreation / Entertainment
3-8%
$60
Debts
0% – Goal
$0
Government Tax (including Income Tatumx, Social Security & Medicare)
15-25%
$710
Total Gross Monthly Income
$3000
**In this budget, prioritization was given to basic expenses and no debt.
Is $36,000 a year a Good Salary?
As we stated earlier if you are able to make $36,000 a year, that is a low salary. You are making around or just above minimum wage.
While 36000 is a decent salary just starting out in your working years, it is a salary that you want to rapidly increase before your expenses go up or the people you provide for increase. If not, you will be left working multiple jobs to make ends meet.
However, too many times people get stuck in the lifestyle trap of trying to keep up with the Joneses, and their lifestyle desires get out of hand compared to their salary. And what they thought used to be a great salary actually is not making ends meet at this time.
This $36k salary would be considered a lower class salary. You must make each dollar count in your budget.
Check: Are you in the middle class?
In fact, this income level in the United States has enough buying power to put you in the top 95 percentile globally for per person income (source).
The question you need to ask yourself with your 36k salary is:
Am I maxed at the top of my career?
Is there more income potential?
What obstacles do I face if I want to try to increase my income?
In the future years and with possible inflation, in many modest cities 36,000 a year is not a good salary because the cost of living is so high, whereas these are some of the cities where you can make a decent living at 36000 per year.
If you are looking for a career change, you want to find jobs paying at least $45000 a year.
Is 36k a good salary for a Single Person?
Simply put, you can make it work.
You can stretch your salary much further because you are only worried about your own expenses. A single person will spend much less than if you need to provide for someone else.
Your living expenses and ideal budget are much less. Thus, you can live comfortably for $36000 per year.
And… most of us probably regret how much money wasted when we were single. Oh well, lesson learned.
Is 36k a good salary for a family?
Many of the same principles apply above on whether $36000 is a good salary. The main difference with a family, you have more people to provide for than when you are single or have just one other person in your household.
At the 36K salary with a family, you would need more than one income stream to make this possible without government help.
The costs of raising children are high and will steeply cut into your income. As you can tell this is a huge dent in your income, specifically $12,980 annually per child and this does not include college.
That means that amount of money is coming out of the income that you earned.
So, the question really remains can you provide a good life for your family making $36,000 a year? This is the hardest part because each family has different choices, priorities, and values.
More or less, it comes down to two things:
The location where you live in.
Desire to improve your career and make more money.
Your lifestyle choices.
You will not be able to afford everything on this salary.
Many times when raising a family, it is helpful to have a dual-income household. That way you are able to provide the necessary expenses if both parties were making 36,000 per year, then the combined income for the household would be $72,000. Thus making your combined salary a very good income.
Learn how much money a family of 4 needs in each state.
Can you Live on 36000 Per Year?
As we outlined earlier in the post, $36000 a year:
$17.31 Per Hour
$138-173 Per Day (depending on the length of day worked)
$692 Per Week
$1384 Per Biweekly
$3000 Per Month
Next up is making $40,000 a year.
Like anything else in life, you get to decide how to spend, save and give your money.
That is the difference for each person on whether or not you can live a lower-class lifestyle depends on many potential factors. If you live in California or New Jersey you are gonna have a tougher time than Oklahoma or even Texas.
In addition, if you are early in your career, starting out around 32,000 a year, that is a okay place to be getting your career. However, if you have been in your career for over 20 years and still making $36K, then you probably need to look at asking for pay increases, pick up a second job, or find a different career path.
Regardless of the wage that you make, if you are not able to live the lifestyle that you want, then you have to find ways to make it work for you. Everybody has choices to make.
But one of the things that can help you the most is to stick to our ideal household budget percentages to make sure you stay on track.
Learn exactly how much do I make per year…
One of the best ways to improve your personal finance situation is to increase your income. Here are a variety of side hustles that are very lucrative. With time and effort, you can start enjoying the lifestyle you want.
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Last Updated on February 25, 2022 by Mark Ferguson
Rental properties are a great investment, but they take work to manage, especially if you do not use a property manager. I own more than 20 rental properties and I managed my rentals myself until I had 7 and realized it was taking way too much time. My rental properties are single-family, mixed-use, and commercial properties. Managing rentals is not extremely difficult but it takes time, you have to pay attention to details, and be firm with tenants to successfully manage rental properties yourself. You can’t be easy on your tenants and you can’t ignore problems, because that is when rental properties can change from a great investment to a poor investment.
Self-management
Whether you chose to manage your rentals on your own or hire a property manager you need to know how to manage the properties. If you are hiring a property manager you need to know if they are doing what they are supposed to be doing. It can help top manage rentals yourself to get an idea of what is involved to see if the management company is any good or not! A lot of this is also common sense and you don’t have to manage properties first if that is not your thing.
Here are some tips on how to manage rentals the right way. You will notice that there is a lot that needs to be done and it may not be as easy as you thought.
How to figure market rent rates
Determining market rent should be done well before you are ready to rent a house and one of the first things you do as a real estate investor. You should have an idea of what a house will rent for before you even buy a rental property so that you know it is a good investment. It is tricky to tell people exactly how to determine market rental rates because each market uses different techniques to rent homes. Some markets primarily use the MLS to rent homes, while other markets (like my market) use Facebook, Craigslist, or Zillow as the primary method to rent a home.
You need to check the prices of other rentals in the area to see what market rents are. You cannot simply choose the highest rent you can find and assume that is what you will get. You can also check with property management companies or real estate agents to see what they think properties will rent for.
When I am trying to determine rental rates, the first thing I do is pull up properties for rent on Facebook. I browse the marketplace to see what is available in the neighborhoods that are most similar to my property. I don’t look at the most expensive rentals, I look for homes in the lower end of the price range (Be careful if you see an incredibly low-priced rental, it may be a fraudulent listing trying to get people to mail money to Nigeria). There also could be some incredibly high rents being asked for executive or short-term rentals that may not compare to your rental.
Looking at prices online is the first step. To see what is actually renting takes a little more work. Print or write down the ads that are the most comparable to your property. Wait three days, and then check to see if the ads are there. If the advertisements are gone, then those houses were probably rented. If they are still up then they probably have not rented. Check again in a week to see which ads are still there and which are gone. If you want to take one more step then call the numbers or email the ads that you first printed and ask if the properties are still available.
I have tried a couple of different methods of pricing my rentals.
Price at the top of the market and try to find a renter who will pay a premium.
Price a little below market and take my pick of great renters.
My experience has been better with taking my pick of great renters. Even though the rent is lower, I usually have a lot less to worry about like late rent or excessive wear and tear. Whenever I price rentals high, I am waiting for a decent to mediocre candidate to send an application in, instead of picking the best tenant from many applications.
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Advertising
Once I have a decent idea of the market rent, I place an ad on Craigslist, put a for rent sign in the yard, and post it on Facebook, Craigslist, and Zillow. I don’t post in my MLS because very few people look for rentals with an agent in my area. Other areas of the country primarily use MLS or another method to advertise rentals. Be sure you research what the most prominent way to advertise rental properties is in your area.
Application
I use an application I found online and altered slightly when I am looking for potential tenants. I used to not charge an application fee or run a credit check but I do now. I charge $50 for an application fee and I use that money to run a credit check and background check. Potential tenants have had no problem paying these application fees, and it helps to make sure all tenants submitting an application fee are serious. A great way to judge a tenant is by talking to them as much as possible and looking at their application.
I want to see an application that is filled out as much as possible with multiple references. If an application is barely filled out, then the potential renters aren’t taking the process seriously or they are trying to hide something. When I talk to a potential renter, I want to learn as much about their previous living situation as possible, I ask about pets, I ask about employment, and who will be living in the property. The longer you talk to a tenant, the more you can learn about them.
When you first talk to a tenant on the phone, take notes so you remember what they said. Then when you meet them in person, ask them some of the same questions to make sure they give you the same answers. If someone is lying to you, it is a very bad sign. If they are late or do not show for an appointment it is an extremely bad sign. To avoid tenant problems, proper screening is vitally important and we now use SmartMove for credit and background checks. SmartMove lets the tenant sign in and pay them directly for background and credit checks so you don’t have to take social security numbers or private information. They also give you a recommendation on whether you should accept the tenant or not.
References
I always call references for all applicants that I am considering. I want to talk to the reference for the applicant’s previous residence and their current employer. I want to know if they paid rent on time, took care of the residence, or were high maintenance. By high maintenance, I mean calling in every week for minor issues, causing plumbing problems because their children like to flush toys down the toilet or any number of other items. I want to see if they had pets and if that information matches up with what they are telling me on their application. I want to ask the employer how long they have worked there. I want to know if they are a good worker and how solid their position is.
I will also ask how much money they make to see if it lines up with what the applicant is telling me. You cannot rely on everything a reference says because they may want the tenant out of their property and will say they are great when they are a nightmare! This is only one piece of the puzzle.
Pets and smoking
Pets can be an extra source of income or destroy your house. I prefer not to allow pets at all, but I may allow one dog with an additional pet deposit or an increase in rent. I usually charge a $200 nonrefundable pet deposit for a small dog. I always want a pet reference as well, meaning they had the pet in their previous residence and the pet did not hurt the property.
I do not allow cats, cats can ruin a house quicker than anything. If you haven’t smelled cat urine in a house, it is not pleasant. At a minimum, you have to remove all carpets and padding and in some cases remove the subfloor as well. I do not allow smoking in my rental properties at any time. If anyone is caught smoking or breaking any of the other rules, the lease says I can fine them $750 per occurrence.
Lease
I am lucky that I have a sister who is a property manager. I was able to use her lease and customize it for myself. Everything needs to be in writing including rent, term, late fees, the date rent is due, and things the tenant can and can’t do. A few things I include in the lease:
No painting without written approval.
Do not hang curtain rods without written approval.
No smoking on the property.
No pets on the property.
Only people on the lease and their children may live in the home.
No overnight visitors for over three straight nights.
No illegal activities on the property.
If any of these rules are broken, the lease says I can fine the tenants $750 per occurrence. If there are any exceptions to these policies, I put them in writing in additional provisions in the lease. I have a section that shows what utilities are paid by tenants, in my case all of them. I have a section that says if the tenants break their lease early, they owe the remainder of the rent due for the entire lease. If I can rent the home again, I can’t charge the previous tenants for rent as well, but I will charge a one-month’s rent lease-break fee. I have many other items in the lease. I am not an attorney and I highly suggest you have an attorney look over any lease you create.
Lead-based paint
With any house built prior to 1978, I have to provide a lead-based paint pamphlet explaining the dangers of lead-based paint. I also have a lead-based paint disclosure signed by the tenants as well.
Deposits
I charge one month’s rent for the deposit, and it must be paid with the first month’s rent before the tenants move in. The only time I split up the rent and deposit is if the tenants want to reserve the home before they move in. They can pay the deposit first and then pay rent when they move in.
Safety
Each state has different laws regarding carbon monoxide detectors and smoke alarms. No matter what your state law is, I would put them in. In Colorado, we have to have carbon monoxide detectors within 15 feet of every bedroom. They are very cheap for the protection they offer, and you can plug them straight into an outlet.
Keep tabs on your tenants
The worst thing a landlord can do, besides rent to bad tenants, is ignore tenants or their properties. If you never talk to your tenants or never send them anything in the mail they will think you don’t care. Once they think you don’t care they will stop caring about the house and stop paying rent. Landlords cannot assume tenants will pay their rent and take care of properties without any oversight.
When I managed my properties, I had a tendency to be very lenient with my tenants. Some tenants paid on time and took care of my rentals and others always paid late and damaged my houses. I learned you have to be tough no matter what the tenant tells you. After learning my lesson I became very strict on rent being in on time and scheduled routine check-ups on the houses.
I learned the more you contact your tenants the better tenants they will be. We have a maintenance person check every house once a quarter. He checks furnace filters, smoke detectors, carbon monoxide alarms and looks for any problems. It is written into the lease that we have someone check the house every quarter and the tenants know they will have to keep the house in relatively good condition.
I said this once already, but it is worth repeating. The worst stories I hear are from landlords who did not check on their houses for years and they were surprised to find the tenants had trashed the house. Not only can tenants trash the house easily without oversight, but they also have a greater tendency to commit illegal acts at the house or create dangerous situations.
A drug house is a landlord’s worst nightmare, especially a meth house. If a property is used as a meth lab, the entire interior may have to be gutted costing tens of thousands of dollars or more. If the tenant knows they will be checked on every couple of months, there is a much better chance they will refrain from illegal activities.
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Late Fees
My leases say that all rents must be received by the 1st of the month and rent is late on the fifth. If we don’t receive rent on the fifth we start charging late fees. I don’t care why the rent is late, we charge late fees. It is not fair to charge late fees to one tenant and not another. If you don’t charge late fees the tenants will think they can continue to pay rent late with no penalties. Pretty soon the tenants are one month behind and it is a struggle for them to ever catch up. Once they get too far behind they may stop paying altogether and then you will have to evict them.
Evictions
I rarely have to evict a tenant, but that doesn’t mean I have not had bad tenants. The reason I avoid evictions is I usually come up with a mutually agreeable move-out plan for the tenant. If you have to evict a tenant it can be a very expensive and a long process. The eviction process varies in every state. In Colorado, it takes about a month to evict a tenant. In other states, it takes longer and in a few states, it is a quicker process. It is not only the time it takes to evict someone that costs money.
To get to the eviction point, the tenant is at least a couple of months behind on rent. People also do not like being evicted and have a tendency to do damage to homes when they are evicted. I have avoided evictions, but that does not mean I have avoided vacancies. I have ended leases early in multiple situations where the tenant could not pay rent or would not for various reasons.
Instead of going through the lengthy eviction process, we were able to work out a deal where the tenant moved out before their lease was up and I did not hold them responsible for the rest of the lease. I could have held them responsible for future rent as well, but that leaves hard feelings and there is a better chance they would damage the home.
By letting them leave early, they get the feeling I am helping them out. In my rental market, I also have no problem renting homes quickly. I would much rather get a bad tenant out right away and get a good tenant in the property. I still try to collect any back owed rent or any damage done to the property above and beyond the security deposit.
We also always use a lawyer when we have to evict because while it costs money it saves time and it is easy to mess up the paperwork!
Behind on rent
Most of my tenants are very good about paying rent on time because they know they will be charged late fees. I had one tenant that was always late and always has a multitude of excuses and pretended he was not late. The funny thing is he had bought a brand new Toyota Sequoia and we got a call from another car dealership because they were trying to buy a second brand new car. Some people do not know how to manage or save money! If I never told this tenant how far he was behind, he would assume he was paying on time. In fact, he would probably stop paying altogether and assume someone else had started paying rent for him.
One thing we do is send an invoice every month to every tenant. This reminds them to pay rent on time, reminds them where to send the rent and they have no excuses for not knowing they were behind. If a tenant gets more than one month behind or stops communicating with us we will post a notice to vacate on their door. When you post this notice you do not have to evict the tenant, but it sure gets their attention and if they don’t contact us, it is the start of the eviction process.
Maintenance
Some landlords are cheap and will not maintain their properties or repair their houses. You are asking for problems from the property and the tenant if you do not maintain the property. A house that shows poorly will attract poor quality tenants and if the tenants are unhappy with the home they will be less likely to pay rent or take care of it.
If the landlord ignores problems like a bad roof, bad electric, or bad plumbing it could cause thousands of dollars in damage or be dangerous. Rental properties do not have to look like a luxury resort, but they should be functional, all the major systems should work and they should look and smell decent. Maintenance items will come up and that is why it is important to have enough money in reserves to pay for repairs.
How long does it take to manage rentals?
There are many tasks associated with managing rentals, but it doesn’t take a lot of time for one property. The most time-consuming part of managing properties is getting them rented. If you only have one rental property you should be able to spend a few hours a month managing it. Many of those hours will come from renting the home and much fewer hours will be from collecting rent, dealing with maintenance, and other issues.
Managing one rental property, two or three rental properties is not too difficult either. Once you start getting four or more rentals it starts taking a significant amount of time to manage your properties. If you don’t have the time to manage them; get help. When you don’t take the time to screen tenants or check up on your properties is when you encounter serious problems.
Hiring a property manager
There is a lot involved in managing rental properties, but not every rental will have issues that require a lot of management. I have had rental houses that never have a problem, are well maintained and the tenants always pay on time. I have had other rentals where the tenants are always having problems, pay late, or stop paying completely. I had one tenant who had a heart attack and could not work anymore. We came up with a mutually agreed-upon plan where he would move out and try to pay me back for back rent owed. He never paid me, but I rented the house right away for more money than he was supposed to be paying and it worked out okay.
It is worth it for many people to use a property manager, especially if they can’t handle being tough on tenants. Property managers will cut into your profits, but they will save you time as well. Property management fees usually range from 8 to 12 percent of the monthly rents. Some property managers also charge a leasing fee, which could be one-half or one month’s rent. In my area, I can find property managers who charge 8 percent of the monthly rents with no leasing fees. I have thought about starting a property management company, but with fees that low it is hard to make much money.
I have a real estate team that consists of real estate agents, assistants, and myself. When I gave up managing my rental properties, I handed the duties over to my team. Not only does my team help me with selling houses and my fix and flips; they manage my rental properties.
Conclusion
If you want to manage your own rentals, make systems to help you. Create a system to check your houses, make sure rent is on time, and make sure accounting information is logged every month. It was not difficult for me to manage my rental properties, but I also started to let things slide at the end and that is when problems occur. If the tenants don’t think you are paying attention they will be more likely to try and take advantage of the situation. If you are looking to buy rental properties and do not think you can handle managing them, make sure you account for the cost when figuring your cash flow.
There’s no easy answer to the question “Should I rent or buy a house?” It depends on so many factors: your age, your finances, your neighborhood, your future plans, the current real estate landscape, and the mortgage market, to name just a few.
Being a landlord requires a lot of responsibility and quite the investment. But it also comes with a great set of benefits, including becoming your own boss and gaining more control over your time — and earning.
If you’ve ever wondered if it would be worth it to become a landlord (and what exactly that entails), keep reading.
Entire books have been written about finding a good rental property. So much text has been dedicated to the topic because of its critical importance. Buy too expensive a place, and you’ll never make money. But trying to snag a bargain can be troublesome too.
Buying a fixer-upper requires that you have the skills, time, tools, and cash to make the necessary repairs and renovations. But here are some of the biggest concerns you should have before embarking on the journey to becoming a landlord:
Do you have enough in savings?
Let’s just say that your tenants can’t make the rent, but they are not going to move out without a fight.
Before you buy a rental, you need to amass an economic cushion amounting to at least six months of housing expenses, plus a few thousand dollars to pay attorneys. That gives you the staying power required to manage most worst-case scenarios.
Are you handy?
If you’re a handy person who likes doing your own work around the house, light plumbing, perhaps some construction, yard work, and so on, you might be a good candidate for becoming a landlord.
If you’re just starting out, it may be too expensive to handle outside contractors if you expect to turn your rental income into profit. Doing the work yourself saves money.
Are you available for 24-hour responsibility?
Hiring a company to manage your properties is an expense that cuts into your profit. Depending on the location, you may be able to afford this from just your rental income. If that’s the case, work with a professional property management company who will answer the phone at any hour to fix any household problems that arise.
Otherwise, be prepared for calls in the middle of the night. If you’re starting your adventure with rental properties while working at another job, you will find yourself with competing priorities often. Usually, a good idea is to start out small, and see whether being a landlord truly is a good fit for you — before embarking on bigger projects, with many units.
Another question you need to answer is: Are you old enough? You can legally buy a house as young as 18. But bear in mind that, on top of the financial responsibility that comes with a purchase, you will also have to account for the property in the eyes of your renters.
Can you keep tenants happy?
Of all the costs associated with being a landlord, the biggest one is a vacancy.
Every time a tenant moves out, you’re going to spend money, probably quite a bit of it. That means finding and keeping good tenants is the heart of successfully investing long-term in real estate.
Happy tenants are critically important. They’re your customers. And the way you keep them happy is by keeping the property in good shape and treating them with respect.
This means being a landlord also comes with a great deal of hospitality and marketing tasks that you probably haven’t factored in before, but that are crucial to your long-term success.
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Waking up in a place of your own with the birds chirping right outside your window is a great feeling.
You go outside and enjoy your coffee on the back porch, simply enjoying the quiet that comes with not living in an apartment.
Your neighbors are friendly, the sun is shining, and you know it is going to be another great day of owning a home.
Everything is going great… until the peaceful morning is ruined by the sound of your air conditioner going out.
As romanticized as owning a home has become in America, there are some significant costs associated with buying, owning, and maintaining a place of your own.
The True Cost of Home Ownership
Let’s break down some of the areas on how to value home ownership. There are some obvious costs like your monthly mortgage payment, but hidden costs sneak in there and can break the bank.
Obvious Home Cost: Principal and Interest
For most, the cost and financial benefits of renting versus homeownership are the deciding elements. The traditional logic is that renters are throwing away their money by paying someone else’s mortgage. Though true, this is a simplistic view.
On a $150,000 home purchase with 20% down (so a mortgage loan of $120,000) at 3.5 percent APR, the monthly principle and interest payment is $538.35 per month.
This sounds like a smart deal since most houses increase in value over time, while the monthly payment lowers the principle balance and increases the equity. If you are paying $600 per month in rent, owning your own home for about the same amount sounds like a great deal.
While principal and interest is a big chunk of your monthly costs of owning a home, there are a lot of other costs to consider.
Hidden Home Cost: Property Tax and Insurance
When you speak to a real estate agent about looking at homes, they generally speak of how much a home is going to cost you in a monthly payment. Many agents will focus on quoting you prices based just on the principal and interest because it means they can get you into a more expensive home — pulling you toward that dream home — thus earning a larger commission check on the sale.
Unfortunately, your monthly payment will have other costs associated with it, namely property tax and homeowners insurance. Depending on the area, these costs can increase the payment significantly. Unlike principal and interest, taxes and insurance payments is money that you are not getting back.
You might pay an extra $150 to $450 per month in tax and insurance cost depending on the area you live in, what the tax structure is, and how much insurers charge to protect your home’s area.
Tax and insurance costs are not fixed unlike your principal and interest payments (assuming you get a fixed rate mortgage). Your local municipality can raise taxes over the years, and homeowners insurance companies are constantly changing annual premiums.
Some states have homestead exemptions that lower a homeowner’s tax burden, so check to see if your state allows this.
Obvious Home Cost: Down Payment
When you rent an apartment your costs are an application fee, security deposit, your first month’s rent, and getting renters insurance. With just a few thousand dollars you can be completely moved in and setup in an apartment or rental home.
When you purchase a home of your own you need to save up money for a down payment. Back in the heyday of the housing boom you could buy a property with little or no money down.
Those days are gone. (This is a good thing!)
Home ownership is a serious commitment and requires serious cash to get started. Many lenders want to see you have a 20% down payment in order to be approved for a loan. On a $150,000 home that means you need $30,000 in straight cash sitting in an account waiting to be used once you find a home.
That’s a lot of dough to be sitting on. I highly recommend using one of the top online savings accounts such as Capital One 360 Savings to hold your down payment so you earn interest until you find the home you want.
Still not sure if you should keep renting or buy your first home? Use this nifty calculator to help you decide:
Hidden Home Cost: Home Maintenance and Upkeep
Owning your own home means you get to decide how your home looks inside and out, including the property’s landscaping. Unless the home is in a designated historic neighborhood, or one with zoning restrictions or homeowners association rules, homeowners are generally free to apply for permits and make changes to a home’s look, structure and more.
It also means you get the “honor” of mowing, trimming, dealing with weeds, and footing the cost of repairs.
Rental properties usually outsource a maintenance crew for maintenance and lawn care so you don’t have to spend time on those items. While a homeowner may have to spring for a new Husqvarna, he or she can landscape as desired. Just remember, it takes time and money to keep up the home and yard.
Most rental management companies will have an itemized checklist of all appliances, flooring quality and states of repair. Often these will be accompanied by photos. Any changes to the rental property outside of normal wear and tear need to be put back to the original state. Renters usually can’t make material changes to the property. You’ll also have to find affordable renters insurance.
This is not the case for a purchased home property. You can change what you like, but all of the cost comes from your pocket.
How much money should you have on hand for home maintenance? A general rule of thumb is to have at least 1% or 2% set aside for home repairs. If you own a $150,000 home that means having $1,500 or $3,000 set aside for when the roof leaks or the HVAC unit goes out in the middle of summer.
Even that amount of money won’t cover major repairs, but it is better to have a starting point in paying the repair bill than to be starting from scratch.
An easy way to make sure you don’t spend your home repair fund is to use a low risk investment like a certificate of deposit. CDs allow you to earn higher interest and only charge a few month’s worth of interest if you need to pull the funds out before the CD matures. One of the best places to get a CD is online with Discover Bank.
You might create a separate category in your budget to hold maintenance money and a separate category to hold money for landscaping or yard maintenance.
Hidden Home Cost: Higher Utility Bills
Living in a 800 square foot apartment can keep your utility bills down simply because you don’t have much space to heat or cool. There can be some financial shock when you get your first set of utility bills after moving into a much larger home.
If you are used to spending $600 on rent, and $100 on monthly utilities, buying a home with a $600 mortgage payment leaves you with the same amount of money to heat and cool a much larger space. Depending on how old the home is your HVAC unit might be older than the one in your apartment building and thus be less efficient. A less efficient unit combined with a larger square foot area can result in some shocking utility bills.
How much should you anticipate to spend on utilities? Ask the sellers.
Pro Tip: When looking at homes ask the sellers to provide utility bills for the last 12 months and a description of where they kept the temperature set. This can give you a rough idea of what you’ll be spending each month. Even if your exact use of the area isn’t the same — they set it at 73 degrees and you prefer 71 — you’ll at least have a ballpark figure.
Hidden Home Cost: Termite Protection
It’d be nice if we could buy a home and never have to worry about termites ruining the structure. Unfortunately this is one of those hidden costs that many people don’t think of.
You can get a termite bond to protect your home. When you purchase a termite bond (usually a couple hundred of dollars) the termite extermination company comes out to inspect your entire house inside and out for signs of termites. Assuming none is found, they spray a preventative down and right a bond that essentially guarantees against termites.
Each year the company comes back to renew the bond for a smaller fee, does another inspection, and sprays again if necessary.
After the initial cost of the bond it is usually $50 to $100 to renew the termite bond. That doesn’t sound like much, but it is just another hidden cost that you need to prepare for.
Hidden Home Cost: Realtor Fees
Where a home can be the cornerstone for growth for some, it can be an anchor that prevents movement for others. Housing markets fluctuate. The housing values and mortgage rates that make it ideal to purchase a home now may not be there five years from now. When purchasing a house, be prepared to stay with it for at least five year or else plan on losing money.
Selling a home is a giant unknown that you need to consider when first purchasing the home.
Can you live here long term?
What happens if the housing market tanks around you?
Can you afford to pay 6% realtor commissions if you use a real estate agency to sell the home?
The commissions paid to realtors are a hidden cost that reach into the thousands of dollars. A 6% realtor commission (3% for the buying realtor and 3% for the listing agent) is $9,000 on a $150,000 home. That means your home has to go up by at least that much in value if you want to sell it, and that’s assuming home prices are going up in your area.
Anticipating Home Ownership Costs: Use a Budget
Putting together a budget is one of the best things you can do before you even begin to consider purchasing a home of your own. You need to have a solid understanding of where you are currently spending money each month. Having a baseline for your current costs will make it a lot easier to compare to potential home ownership costs than if you are just shooting in the dark.
There is a lot of great personal finance software available. For budgeting we recommend You Need a Budget for your core budgeting needs. You can use other programs like Manilla and Mint to add additional monitoring as needed, but YNAB is a great piece of software.
Is Owning a Home Worth It?
Don’t underestimate the security and stability of a family home. According to a study from the Pew Research Center, housing stability shows the world you are stable, dependable and devoted to the community.
Other studies have shown that children of homeowners tend to be better at math and reading, have fewer behavioral problems, and stay in school longer. This is linked to the safety that a child feels when they have a stable home. Since a house is a long term investment that can have a mortgage of 40 year or beyond, a house becomes very closely linked to a family’s architecture, community standing, stability and more.
A Look at the Future
What will life look like in five years? Ten years? Fifty years? Whether playing the role of savvy investor or new couple thinking about a family, these are the questions that need to be addressed. Of course, without a time machine or a crystal ball, there are no certainties as to what will happen with the housing market in your area.
But those weighing the pros and cons of home ownership must have an idea of how they want to spend their future. The online real estate database, Zillow, recommends having a plan before jumping into the home buying jungle.
If you plan to live in one area for a long time then buying a home is a great decision that provides stability to your family. If you don’t know if you will be in the same area five years from now it usually makes sense to keep renting.
Either way, having an understanding of the true cost of owning a home can help you crunch the numbers to make a housing decision.
A New England Colonial built in 1640 in Ipswich, MA, is the oldest home on the market this week on Realtor.com®.
Five fireplaces, wide-plank flooring, and exposed-beam ceilings can be found throughout the 3,672 square feet of living space. It also includes a two-story, rear addition.
Other historic residences to hit the market this week include a stone farmhouse on 33 acres in Pennsylvania, an affordable Cape Cod–style home in Connecticut, and an iconic property in South Carolina.
Scroll down for a full look at this week’s 10 oldest homes.
Price: $1,250,000 Year built: 1640 Preston-Foster House: This charming First Period Colonial sits along the banks of the Ipswich River.
The five-bedroom abode has been home to children’s book illustrator Ed Emberley and his wife, Barbara Emberley, for more than 60 years. While it has been updated over time, the owners took great care to thoughtfully preserve much of its historic architecture. A first-floor primary suite was recently constructed.
Located just minutes from Town Wharf, the property also boasts professionally designed and maintained gardens.
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Price: $1,100,000 Year built: 1696 Titus House: This five-bedroom, 3,670-square-foot dwelling features restored hardwood flooring, exposed-beam ceilings, three fireplaces, and many built-in bookcases.
The country kitchen includes a casual dining area that overlooks the private backyard. The formal dining room features a fireplace with a decorative mantel.
There is a spacious brick patio out back to take in views of the 1.5-acre lot, which also features a pool and pool house.
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Price: $7,950,000 Year built: 1704 Finale Farm: This seven-bedroom home has been expanded over the years and now offers 6,323 square feet of living space.
The stone farmhouse boasts historic charm and modern amenities. Historic highlights include stone walls, a walk-in fireplace, and exposed-beam ceilings. Updates over the years have made way for a designer kitchen and bathrooms, high-end appliances, and French oak flooring. A glass-enclosed sunroom and slate patio are ideal spots to take in the serene views.
The 33-acre property comes with an updated guesthouse, stone bank barn, pool, and pond.
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Price: $399,000 Year built: 1704 Affordable Cape: This four-bedroom abode has been updated with many modern amenities.
The 2,126-square-foot floor plan has a cozy kitchen with a wood-burning stove, a spacious family room with a stone fireplace, and two bedrooms on each level. There is a covered porch along with a stone patio and outdoor fireplace designed for relaxing.
The 3-acre property is zoned for residential and commercial use. An outdoor furniture business operating out of an adjacent building is available for purchase for an additional $250,000.
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Price: $649,000 Year built: 1723 Updated antique: This three-bedroom domicile recently underwent a major renovation.
A bright and airy living room features a bay window and a wood-burning stove. The updated kitchen includes a stone wall, butcherblock countertops, and stainless-steel appliances. A spacious family room has French doors, which open to a bluestone patio and fenced yard. The first floor features one bedroom with a private entry. The bedrooms upstairs have exposed-beam ceilings and pine floors.
The half-acre lot includes a garden shed and raised beds. An offer is pending on the property.
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Price: $839,000 Year built: 1725 Charming Cape: This classic, three-bedroom dwelling features exposed-beam ceilings, wide-plank wood floors, and four fireplaces.
The kitchen and two full bathrooms have all been updated. A comfortable living room boasts built-in bookcases.
The first-floor bedroom has a fireplace and a small office, which could be converted into a nursery. Two more bedrooms can be found upstairs.
Located just a few blocks from downtown Rockport, the 1,962-square-foot house is a short walk to beaches, shops, restaurants, and galleries.
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Price: $649,900 Year built: 1726 New England Colonial: This four-bedroom farmhouse features original hardwood floors, six fireplaces, and even “secret passages.”
The 3,324 square feet of living space include a modernized chef’s kitchen with custom cabinets and high-end appliances. The cozy living room offers a wood-burning fireplace, and a wood-paneled dining room features a walk-in fireplace. There’s a bedroom on the first floor and three more upstairs, including the primary suite.
The 18-acre property includes two large patios, a pond, shed with a storage area, and small barn.
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Price: $1,325,000 Year built: 1735 Hoyclo House: This six-bedroom, 4,303-square-foot home offers period details, including wood-paneled walls, wide-plank wood floors, and built-in bookcases. The six bathrooms have all been modernized. A spacious kitchen offers custom cabinets and updated appliances. Fireplaces can be found in the den, living room, and dining room.
The 1-acre lot features professional landscaping and comes with a pool, a one-bedroom barn apartment, and a one-bedroom cottage.
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Price: $1,750,000 Year built: 1740 East Parish Farm: This seven-bedroom Colonial was expanded in 2015, nearly doubling its size to 6,260 square feet.
Historic highlights include a library with custom shelves and a living room with a built-in bookcase. Fireplaces can be found in the family room, kitchen, and living room.
The 2-acre property includes a pool, perennial gardens, and a three-car garage.
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Price: $3,195,000 Year built: 1741 Located in historic district: This two-bedroom beauty is located on one of Charleston’s most well-known corners with many restaurants, galleries, and shops nearby.
This 6,856-square-foot property includes a retail unit on the first floor, two offices on the second floor, and a two-bedroom, two-bath apartment on the third floor. The building is equipped with an elevator.
The Honeycutt House, designed by Lloyd Wright—son of architect Frank Lloyd Wright, seeks a new owner to revel in its recent restoration.
Completed in 1955, the midcentury modern marvel is in Long Beach, CA, a coastal community 25 miles south of downtown Los Angeles. The 2,382-square-foot home features three bedrooms and four baths.
It’s listed for $2.95 million with Cynthia Voss and Nathan Walter, of Re/Max Real Estate Specialists.
Lloyd Wright, who also went by Frank Lloyd Wright Jr., designed the Hollywood Bowl’s band shells and assisted his famous father with four Southern California homes, including the Ennis House.
In 1953, Wright received the commission to design the property, now known as the Honeycutt House, on a sloped lot.
The sellers, who are only the home’s third owners, snapped up the property in 2021 for $950,000 from a family who had owned it since 1978.
“It was not maintained,” says Voss. “My client had to fix a lot of termite damage.”
Operation restoration
The sellers completely refurbished the place in 2022 and into 2023.
They reinforced the carport and created a deck on top, added a new roof and a lower-level living area, and replaced all the windows—improvements that made the home more conducive to modern living.
The home’s electrical wiring and HVAC systems have been updated, and two new outlets in the carport can charge electric vehicles.
The reimagined, 780-square-foot lower level—now accessible from upstairs—could be used as an in-law suite or for a college graduate.
“It’s kind of like having a suite of their own,” Voss says.
The renovation sought to retain original design features—including paneling; a wall of open, vertical slats; wood-framed, sliding-glass doors; and a double-sided, brick fireplace.
Voss notes that the wood floors have been restored, and the kitchen cabinetry and custom facades were made to match the look from 1955.
“They remodeled the kitchen but to the form and style of the original home,” she says, adding that the bathrooms were also redone “to the midcentury modern style but also to 2023 standards.”
Appealing area
The home is situated in a beloved area, adding to its allure.
“Market State is a lovely neighborhood with large lots—and the most expensive in Long Beach, with the exception of Naples,” Voss says. “It’s very much a family neighborhood and also empty nesters. People love the neighborhood so much, they stay after their kids have grown.”
This home is near the 18-hole Recreation Park Golf Course and California State University, Long Beach.
In this community of single-family homes and tree-lined streets, “you have to get permission to even cut a tree down,” Voss says. “They really maintain a classic neighborhood look.”
She thinks the buyers will be “professional people that have a love of architecture and art and an appreciation for owning a trophy or legacy property.”
The potential party pad might also attract an entertaining enthusiast.
“The way [Wright] positioned it on the lot and created the outdoors space, it would be a wonderful home to entertain in,” Voss says.
Inside: Do you want to make quick money? If so, you’ll love this collection of ways to make cash in one day. Start these tasks and start making extra cash fast.
In today’s world, there are many ways to make quick money in one day.
The internet and technology have created opportunities that were non-existent just a few years ago. You can now make money in your PJs from the comfort of your own home! I do!
We all have those times when we need cash fast. Maybe it’s for an emergency car repair, an unexpected medical bill, or a last-minute plane ticket home.
Whatever the reason, there are plenty of ways to make quick money in one day.
We will include some of my personal favorites as well as methods I researched.
In today’s blog post, we will outline the best ways to make quick money in one day.
How can I make immediate money?
If you need immediate money, you need to look for ways to get cash in your hand quickly.
This would be by selling your possessions, participating in focus groups, find a gig job that pays cash tips.
These ideas will get cash in your hand within 24 hours.
How much money can I make in one day?
Many people wonder, “How much money can I make in one day?”
The amount of money you can make in a day depends on a variety of factors, such as your job, side hustles, and financial opportunities.
With a bit of hustle, creativity, and smart financial decisions, it is possible to make up to $1,000 a day.
However, you need to develop a smart strategy for achieving this goal. Investing in education will help you put that money to work growing for you.
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.
50 best ways to make quick money in one day
Making money quickly is possible with some time and effort.
There are a lot of ways to make quick money in one day. In fact, many ideas center around how to make money online for beginners.
Here are 50 of the best methods that you can use to make some extra cash.
1. Work on freelance projects
Working on freelance projects can help you make quick money in one day by providing you with one-off jobs that can benefit from your skill set.
With the percentage of freelance workers in the workforce climbing steadily, there are many online marketplaces that make it easy to connect with businesses and individuals who need your services.
Sites like Upwork, Fiverr, and Toptal allow you to create a profile and showcase your work, making it easy for you to set your own rates and decide on the length of the project.
Additionally, the more experience you get, the more you can charge and the higher your demand will be, potentially leading to full-time work.
2. Sell items on consignment
Selling items on consignment can help you make quick money by providing an easy, fast way to earn a profit from gently used items.
With consignment shops, you can take your clothes, electronics, jewelry, musical instruments, or even your car to be sold without having to take an active role.
For a cut of the profits, your items will be placed in front of buyers, allowing you to make quick cash.
3. Take on odd jobs
If you’re looking for ways to make money quickly, odd jobs are a great way to do so.
Think of day laborer types of jobs. You can use an app like TaskRabbit to find work in your area.
Some of the common odd jobs you can consider include:
Gardening – you can offer to do gardening work such as weeding, planting, mowing, and trimming.
Furniture Assembly – if you have experience in assembling furniture, you can offer your services to people who need help.
Cleaning – you can offer cleaning services to keep homes and offices tidy.
Painting – you can offer your painting services to those who need help with their walls.
General Handyman Work – if you are good with your hands and have experience in repairing and fixing things, you can offer your services to people who need help.
Moving Gig – people are always looking for help with moving.
4. Trade Options
If done correctly, trading in options can help you make quick money and generate substantial returns in a relatively short period of time.
However, trading options come from experience and should not be taken as a get-rich scheme. Personally, I trade options for a living.
You can make quick money trading options if you know what you’re doing. The key is to identify when the market is going to move in a certain direction and then make the right trades to capitalize on the profits.
Here is the one and only investing course I recommend.
5. Become a rideshare driver
Becoming a rideshare driver can be an easy and convenient way to make money quickly.
All you need to get started is a valid license, active insurance coverage, and an approved vehicle. With Uber and Lyft, you can set your own hours and receive a base rate plus tips and distance or time-based bonuses.
From one of our rideshare drivers, we learned some tricks of the trade such as working in peak hours or in areas with popular nightlife scenes or active airports.
6. Offer house cleaning services
Nowadays, people don’t want to learn their own house, so starting a house cleaning service is a great way to make quick money.
With countless opportunities available online or on local job boards, you can easily find a job that works for you. There are even ways to market yourself so potential customers can find you!
If you have a background in cleaning and don’t mind physical labor, you can make up to $25 an hour or more.
Becoming a housecleaner is a great way to make extra money on the side and you can even make up to $200+ per weekend.
With a bit of effort, you could have a great side-hustle in no time!
7. Rent out your parking spot
If you live in a busy area and have a spot that’s in high demand, you can easily rent out the space for a premium price.
This can be especially profitable if you live near an event center and can offer parking to visitors who don’t want to pay a premium to park in a lot or parking structure. You can put your parking spot to work with services like Just Park or Neighbor.com and earn up to $300 per month.
Renting out your parking spot offers a great way to make extra money while utilizing unused resources or space.
8. Proofread documents
Whether you are a stay-at-home parent, a teacher looking for extra income during summer vacation, or someone with a passion for grammar and punctuation, you can make up to $65,000 a year by proofreading documents.
Make sure to take a Free Training Course: Caitlin Pyle offers a free workshop on how to use the most popular proofreading tool and how to become a work-from-home proofreader.
With some hard work and dedication, you can start earning quick money as a proofreader. Good luck!
9. Walk dogs
Walking dogs can be a great way to make some quick money.
Apps like Rover provide pet owners with a platform to find dog walkers in their area and pay for their services.
A dog walker can make $15-18 per 30 minute walk, with occasional bonuses for boarding or pet-sitting. This is a simple way to get your exercise and make cash.
10. Take an online survey
Companies and websites are always looking for consumer feedback in order to improve their products and services, and offer incentives such as cash, rewards, and gift cards for filling out surveys that can take as little as a few minutes.
Popular survey sites like Survey Junkie and Swagbucks offer these incentives, enabling individuals to make a few quid in just a few minutes of form filling.
Most surveys will only take a few minutes, so you will have to do a bunch to add up to serious cash for your feedback.
Here are the top legit survey platforms:
11. Sell your old junk
Are you looking for an easy way to make some extra money? Why not start by looking around your house and attic/basement for things you no longer use?
You can turn those things into cash by selling them online or having a yard sale.
With a little effort, you can easily make hundreds of dollars by selling your old stuff. It’s a great way to declutter your home and make some extra cash in the process.
Make sure to list your items with attractive descriptions and photos to draw in potential buyers.
12. House sitting
House sitting is a great way to make quick money. It allows you to watch someone’s home while they are away and take care of tasks such as feeding pets, watering plants, and taking out the trash.
You can usually make between $25 to $50 per day depending on the market demand in your area. It’s easy to start, with most sites having a minimum age requirement and a sign-up process that takes only minutes. Payment is typically made when the job is completed.
More importantly, beyond making good money, you are able to housesit in beautiful locations that you may not be able to do otherwise. Personally, this is something I want to start doing.
Build your profile on Trusted Housesitters now.
13. Babysit
Babysitting is a great way to make extra money, especially for those who are looking for flexible jobs that match their availability.
Whether you’re an experienced babysitter or a novice looking to give it a try, there’s no doubt that you’ll find plenty of opportunities available. With a little bit of effort and a lot of dedication, you can make a great living out of babysitting.
Most babysitters earn way more than minimum wage making this a great gig.
14. Deliver food orders
Delivering food orders can make you money quickly by taking advantage of the increasing trend in the popularity of food delivery apps.
With driver-friendly apps like Instacart, DoorDash, and Uber Eats, all you need is an insured vehicle and a smartphone to start delivering food to customers in need.
The pay per delivery can go even further if you work on busier nights like Friday or Saturday. With many apps, you can also choose your own hours and the flexibility to work as much or as little as you’d like. This can be a great way to make some fast cash on the side.
15. Earn money with eBay
eBay is an amazing platform for anyone looking to make some extra money by selling items they don’t use. Whether you’re looking to get rid of an old phone, clothes, or books, eBay is an easy and accessible way to do so.
You can start by selling items you don’t need or don’t use anymore.
You can also consider buying items at a low price with the intention of selling them at a higher price.
If you’re looking to make a full-time income from home, selling items on eBay could be a perfect way. You can start small by buying a thrifty item for a low price and selling it at a much higher price.
With the right knowledge and resources, you can make money on eBay easily. So get started today and watch your earnings grow!
16. Write articles for websites
Writing articles for websites can be a great way to make quick money in one day.
With the increasing amount of new content created daily, business owners often don’t have the time to create content for their websites themselves.
Freelance writers can fill this gap by providing quality content for clients in exchange for payment. Depending on the complexity and length of the article, writers can make anywhere from $25 to $500+ in a single day.
By specializing in a niche, writers can showcase their work as samples to potential clients. Furthermore, writers can establish relationships with other bloggers in their niche, guest blogging, and approach websites in their niche with their writing services to further increase their chances of finding work.
17. Become a pet sitter
Personally, I have a friend who makes money by being a pet sitter and has help from her kids.
With Rover, pet owners in your area can easily find and hire pet sitters for their pets. Dog sitting is the most popular pet sitting activity, and it can earn you around $20-35 for overnight stays.
Plus, you get to decide when and how you want to work, and you can fit it around your own schedule. With the right amount of communication and excellent service, pet owners may even offer you recurring gigs.
18. Participate in focus groups
Participating in a focus group can be a great way to make quick money in one day.
Focus groups are usually based on interesting products or services, and they can pay participants anywhere from $50 to $400 for their time. Not only is it a great way to make money quickly, I have found many focus groups can also be a lot of fun.
The hardest part with focus groups is it is not a steady stream of income as you may not qualify for each opportunity.
19. Do yard work
Just like housecleaning, this is a popular job to be hired out.
Yard work such as basic gardening and landscaping, shoveling snow or salting walkways, and even cleaning gutters can all be done for a fee. Advertising your services through flyers, door knocking, or posting on local job boards can help you find potential customers.
By doing quality work, you can turn this into a weekly gig for quick money.
20. Shop at thrift stores and buy low and sell high
You buy items for a fraction of the cost and resell them for a higher price. For example, you can find brand-name clothing, electronics, antiques, and children’s toys at thrift stores that you can resell on online platforms such as eBay, and Facebook Marketplace.
You can also look for items marked as “free” on the side of the road and spruce them up to sell for a profit.
Shopping at thrift stores can help you make quick money in one day, and with time and experience, you’ll discover which items sell the fastest and for the most money.
To make money flipping items, you must do your research upfront and know how much you can pay for something while still turning a profit. With time and experience, you will learn which items sell the fastest and for the most money.
21. Photography gigs
You can make money with photography in two ways:
Turn your photographs into cash by selling them through stock image websites such as Shutterstock or iStock.
Offer your photography services for family sessions, birthday cake smashes, and even weddings.
Either way, you are able to turn your passionate hobby into a way to easily make a decent income in one day.
22. Participate in sweepstakes
Participating in sweepstakes can help you make quick money in one day by giving you a chance to win big.
Yet, this option comes with a lot of RISK!
There are a variety of competitions and prizes available, ranging from online product giveaways and gift vouchers to big-money TV game shows. You want to look for sweepstakes that are free to participate in and not pay money.
This one ranks up there with the left hand itching principle.
23. Use your Writing Skills
Are you looking to make money with your writing skills? There are lots of opportunities available that pay you to write. From blogging to freelance writing, to reviewing music, you can find the perfect job that allows you to utilize your writing skills and get paid.
You can also make money by helping people refine their writing. If you have a good grasp of grammar and can help people write in a more engaging and structured way, then you can charge for your services.
Publications often hire freelance writers, so that’s another avenue to explore.
No matter what you decide to do, there are plenty of ways to make money with your writing skills – all you have to do is find the right opportunity for you.
24. Become a home staging stylist
Becoming a stylist can help make quick money in one day by offering services to those who are in need of help staging their homes for sale.
Realtors often hire outside help to ensure that the home is presented in an attractive and appealing way, and these services can be provided for an hourly or flat fee.
This is a great part-time gig.
25. Donate plasma
You can make money quickly by donating plasma.
Plasma is the liquid part of the blood that contains antibodies. It can be used to create medications and other medical products. Plasma donation is a safe procedure that can help people in need.
Typically, you walk out with cash immediately.
Check with your local blood bank or hospital to learn more.
26. Host workshops
Hosting workshops can be a great way to make money in a short period of time. There are endless webinar ideas you can try, such as live-at-home fitness classes, cooking, a writing workshop, an Excel class, nutrition coaching, or even a first-time homebuyer class.
With the rise of video conferencing, it’s easy to set up webinars to teach people your skills and knowledge.
Typically, you will need to build an online presence with a social media following to hold successful workshops.
27. Trade Stocks
Trading stocks can be a lucrative way to make quick money, but it is essential to understand the risks involved.
With the help of online market trading platforms, anyone can start to trade stocks with a minimum amount of money.
Learning how fast you make money with stocks, but realizing you need to learn to trade stocks is like going back to school for a stock trading education.
Although trading stocks has the potential to generate quick money, it is important to note that all trading involves risk and that you should only invest what you can afford.
28. Become a courier
Being a courier is a great option for flexible income, as they allow you to set your own hours and work as much or as little as you’d like.
Think outside the box of UberEats or Instacart. This would likely be for a local business that needs to move documents from location to location.
You will need to be reliable and trustworthy.
29. Deliver Pizza
Even today, this is a classic gig to make quick money by delivering pizza!
Businesses are desperate for workers, so finding a job should be fairly easy. However, be prepared to work more than one day.
30. Repurpose your skills
Those skilled in writing, graphic design, coding, bookkeeping, or any other number of computer-based skills, can use these sites to find freelance jobs that require their skills.
Additionally, those with knowledge or experience in a particular field can create and sell an online course via a platform like Teachable or Podia.
Too often, we overlook the things that we are the best at, yet repurposing your skills us a great wat to make money.
31. Dog groomer
The income potential as a dog groomer is considerable.
According to the American Pet Products Association (APPA), pet owners spent $136.8 billion on their pets in 2022.
Dog grooming is a easy way to make money.
Over to pick up dog poop and you can double how much money you make.
32. Sell your unwanted items
Selling unwanted items on eBay and Amazon can be a great way to make quick money.
By scouring online retailers, local thrift stores, and yard sales for hidden treasures, individuals can find consumer goods for cheap and then resell them for extra profit.
Selling on Amazon also provides an opportunity to source products for fulfillment.
Additionally, apps like LetGo, OfferUp, and Facebook Marketplace make it even easier to make extra money, as people jump on items quickly.
For those with a strong entrepreneurial spirit, buying items at a low price and then reselling them at a higher price can generate a decent side income.
33. Sell Printables
If you’re creative, you can create and sell digital products like ebooks, courses, templates, and graphics.
Digital downloads are also becoming increasingly popular, as they require no shipping or fulfillment costs and you can easily make them once and sell them hundreds of times over. Depending on the craft and the demand, your potential earning potential can be quite high.
In fact, selling printables is a popular summer jobs for teachers!
So why not give it a shot? With the right strategies, you could start making a few hundred dollars a month with very little effort.
34. Crafts and handmade goods
One of the best ways to make money quickly is by selling crafts and handmade goods on websites like Etsy.
From jewelry and candles to sourdough bread to quilts and custom T-shirts, there is a huge variety of items that you can make and sell. You can also design and sell custom stationery, pillows, tote bags, coasters, cosmetics, and more.
35. Dropshipping
Dropshipping is an online business model that allows entrepreneurs to start an online shop without having to keep a product in stock. Instead, a business makes a sale and then passes the order along to a third party, known as the dropshipper, who ships the product directly to the buyer.
Dropshipping is a great way to make money quickly, as it requires minimal upfront investment and overhead.
With dropshipping, you can add products to your store without having to buy them in bulk, and you don’t need to worry about shipping or fulfilling orders.
36. Affiliate Marketing
Renting out your property can help you make quick money in one day by taking advantage of the services offered by websites like Airbnb.
Affiliate marketing is a way to earn money by promoting other companies’ products or services. You can do this without a website, by sharing affiliate links on social media, a blog, online forums, post comments, and with friends or family.
When someone buys a product or service via unique affiliate link you provide, you get paid a commission.
It is possible to make money quickly if you have a social media following or a website, as you can start promoting all sorts of companies, products, services and offers online.
37. Work for tips
Making money quickly by working for tips may sound intimidating, but it is actually very achievable with a bit of hard work and determination.
Tips are normally paid in cash, which is exactly what you need.
Jobs that pay tips:
Waitstaff
Bartender
Bellman
Drivers
Casino dealer
Golf caddy
Babysitters
Also, many jobs that pay weekly work for tips.
38. Rent out your property
These services allow you to rent out a room, a condo, or your own home if you’re away on vacation.
Airbnb has revolutionized the hotel industry by allowing everyday property owners to lease their place to travelers. By creating an account and listing your property, you can immediately start earning passive income.
With the right location, you can create a steady stream of income that can help you make quick money in one day.
39. Join a MLM
Joining a Multi-Level Marketing (MLM) company is one of the most popular ways to make money these days. With an MLM, you can potentially make a lot of money by building a team and earning commissions from their sales.
But you need to be careful and do your research to make sure it’s an opportunity worth pursuing.
MLMs can be profitable, but it can take a lot of time and effort to get them off the ground and make them successful. You need to be prepared to take the time to build your team, train and support them, and provide them with the resources they need to succeed.
Personally, I have tried making money with an MLM and found out that it was not worth the time or effort.
40. Collect and sell scrap metal
Collecting metal items such as old swing set parts, metal toys, and other bits of metal can be sold at scrap yards or redemption centers for a small sum of money.
Iron, steel, aluminum, brass, and copper are the most commonly traded types of scrap metal, and the prices vary depending on the type and amount of metal.
This is a simple way to make money if you put in the resources. Just don’t steal metal because that can get you in severe trouble.
41. Deliver for Food Delivery Apps
This industry is booming with no signs of slowing down. You can easily make $100 a shift by delivering food!
Sign up for driver-friendly apps such as Instacart, DoorDash, and Uber Eats. These apps allow you to set your own hours and work as much or as little as you’d like.
Make sure you have an insured car, truck, bike, scooter, or motorcycle. Depending on what you choose to use, certain apps may have different requirements.
Go to the restaurant and pick up the order. You’ll be paid a flat delivery fee, an additional fee per item ordered, and 100% of the tips customers choose to give you.
Deliver the food to the customer.
Get paid instantly, usually within the same day.
Maximize your earnings by delivering for multiple apps at once. This will give you access to more orders, and a larger area to deliver in.
42. Become A Virtual Assistant
Virtual assistants are in demand right now.
Consider becoming a virtual assistant with no experience to help small businesses with tasks like scheduling appointments and managing emails.
Typically, small businesses are looking for someone to take a short-term 3-month stint or a long-term relationship.
If you have marketable skills, you will make an outstanding virtual assistant.
43. Cook and deliver food
Cooking and delivering food can make you money in one day, especially since the demand for convenient delivery is increasing.
If you are cooking food on your own, you need to check with your local state and city regulations to see if you are allowed to sell food from a home kitchen. These food regulations are tough, so make sure you comply with these regulations.
However, many busy families are looking for a personal chef and are willing to pay for the service.
44. Trade-In Programs
Trade-in programs are a way for people to get quick money by selling their old phones, tablets, and other electronics. These programs give customers the opportunity to receive cash or gift cards in exchange for their unwanted devices.
You can trade in your own unused or unwanted electronics or for neighbors who don’t want to deal with the hassle themselves.
When selling through a trade-in program, customers are usually asked to provide a description of the device and its condition. The amount of money received depends on the device and its condition.
Plus you are helping the environment by keeping old devices out of landfills.
45. Become a social media influencer
If you have a large following on social media, you can make money by becoming a social media influencer and promoting products or services.
There are a number of ways to make quick money as an influencer. You can promote products or services by posting about them on your social media account.
Obviously, you must thrive using social media.
46. Flipping items on Poshmark
Making money on Poshmark by flipping items can be a great way to make cash.
You can find items to resell from big box retailers, online retailers, local thrift stores, yard sales, flea markets, eBay, Facebook Marketplace, and Craigslist. Potential items you can flip for profit include brand-name sneakers, clothing, and purses.
You should also figure out which items sell the quickest and for the most money.
Poshmark also has a “bundling” function which allows you to group similar items together for a discounted amount. This is a great way to make more money as you can sell multiple items in one go.
This platform allows followers, so it is easy to build return buyers.
47. Start a small business or side hustle
Small businesses and side hustles can be a great way to make money quickly. Consider your skills and interests and start something that can help you turn a profit.
No matter how you do it, starting a business can be a great way to make money and meet new people.
Building your side hustle to a full-time income will not happen overnight, but you will make progress with hard work and dedication.
48. Take advantage of Swagbucks
Swagbucks is an online rewards and survey platform that provides numerous opportunities to make money.
With Swagbucks, you can earn money by completing surveys, watching videos, playing games, and even shopping online. With each task, you can earn anywhere from $0.40 to $2.00 in SB points which can be redeemed for cash back or gift cards.
Plus, when you sign up, you get a $10 bonus and can even get 500 SBs for referring a friend.
49. Tutoring
Tutoring is a great way to make quick money while using your knowledge and expertise to help others. It involves providing instruction to an individual or a small group on a particular subject, usually to help them improve their understanding.
Tutors can work with students in person or online, depending on the subject and their availability.
No matter your educational background, you can make money tutoring as long as you have a deep knowledge of a subject. With the right resources and platform, you can find tutoring gigs in your area and start making quick money today.
50. Make money with your phone
Making money with your phone is possible with a little bit of effort. You can sign up for apps to complete small tasks and earn money quickly.
Alternatively, there are plenty of mobile apps such as Ibotta, Rakuten, Shopkick, Swagucks, or Receipt Hog which can help you make some extra money with simple tasks.
You can also take on odd jobs through apps like TaskRabbit to make cash.
Finally, you can trade stocks on your phone.
There are so many ways to make money with your phone today.
FAQ
Yes, it is possible to make passive income. This type of income is earned with little effort or direct work.
It can come from investments such as returns and dividends, as well as from sources like stocks, rental properties, and online businesses.
With some creativity and diligence, anyone can create multiple sources of passive income. It may take months or even years to build up these streams of income, but the potential rewards are worth the effort.
Many of the statistics are leaning on the fact that you need a side hustle to make ends meet or get ahead financially.
I started a side hustle to make money to afford what we wanted to do. Personally, my side hustles are blogging and day trading stocks.
The best side hustles are the ones that you are passionate about. More than likely, you will be spending time on them in your free time, so you want to enjoy them.
Regardless of what type of side hustle you choose, you can make extra money on the side. To maximize your earnings, you can even combine several different side hustles together to create multiple income streams.
I always say, if I can make $100 a day, then I am making $3000 a month. That will make a difference in my personal finance situation.
Before you can make $100 a day, you need to find out how you will make money. Look for opportunities that match your skills and interests. Some examples of this include driving for Uber, selling your skills on freelancing sites, creating an online store, or even starting your own blog.
Learn how to invest 100 to make 1000 a day.
When looking to make $1000 fast, you need to up your game – specifically, the time and energy to make your goal happen.
You could start by looking for high-paying side hustles such as trading stocks or options, becoming a freelance writer, setting off as a virtual assistant, or by selling products online.
The key is to make $1k a day consistently. Then, you will be working on how to turn 10k into 100k.
Which Quickest Way to Make Money in a Day Will You Choose?
There are many ways that you can make quick money in one day.
Whether you want to start a side hustle, do some odd jobs, or make money online, which option is best for you?
Whichever option you choose, make sure that you choose something you will enjoy doing as well as the quickest way to make money.
We covered fifty options to make cash and start making extra money today!
Which one is your favorite?
Mine are trading and writing. Comment below on which method you will choose.
Know someone else that needs this, too? Then, please share!!
After living in our first home for almost five years, we were ready to upgrade. With a second child on the way (and at least a third in the not too distant future) we needed more space, so we knew it was time for a larger house. We took a bit of a different approach in that instead of buying a bigger home, we opted to build our dream home. Are you considering an upgrade to a bigger home? If so, I’ve asked Miranda to offer her take on whether an upgrading to a bigger house makes good financial cents for your situation.
Today’s low home prices and low interest rates are making home ownership more attractive to many. And, while first time home buyers are getting in on the act, they aren’t the only would-be buyers interested in making a home purchase. Plenty of current home owners are considering upgrading to a larger home.
In many markets, home owners are looking at homes in the next price range up as good buys, since foreclosures and a slow market are resulting in good deals. But, as tempting as it is to upgrade to a larger home, is it really a good idea? Here are some things to consider before upgrading to a larger home:
Why Do You Want to Make the Move to a Larger House?
Consider your situation. Sure, a bigger, nicer house is a plus, but is your decision based on some sort of notion of status? If your main motivation is to impress others with your bigger home, it may not be the best reason. However, if your family is starting to outgrow your current home, or if you believe that you would enjoy a better quality of life in a nicer home, then it might worth considering making the move.
What’s the Situation with Your Current Home?
The biggest issue with upgrading to a larger house is that you still have to sell your current home. Consider the market in your area. How long is the home likely to be on the market? Are you getting a good enough deal on the larger home to make up for any price cuts you will have to make to sell your current home in a timely manner? Another concern is that your current home may not yield enough of a down payment, due to its own home value issues. If your current home is underwater, or if getting approved for the newer home depends on selling your current house, you may not even have the option of upgrading to a larger house.
Are You Prepared for the Costs of Moving Up?
Before you decide to upgrade to a larger home, consider the additional costs. Not only do you have to think about an increased mortgage payment, but your home insurance and property taxes will increase your costs as well. On top of that, there are costs associated with moving, and you may need to buy more furniture, or make changes to the home. Utilities in larger homes are more expensive, as is yard care and home maintenance. If the home has been foreclosed on, there may be some home repairs necessary. You may not be prepared for the additional costs associated with a bigger home.
Can You Handle the Home if it Doesn’t Appreciate?
Taking on extra debt is always something to be approached with caution — especially if you are planning on upgrading to a larger home. Many people feel that a larger home would get more bang for the leveraged buck, since the appreciation would make up for it. But, even if you buy at the bottom of the market, there is no guaranty that your home will appreciate in value at the rate you expect. As we saw not too long ago, the real estate market crashes, just like everything else. If you are banking too much on a larger home as an investment, you might be disappointed. Consider upgrading as a purchase, rather than an investment likely to yield big returns.
Bottom line
If you can handle the costs, and you think that moving into a larger home will improve your quality of life, it might be a good time to upgrade. However, make sure you are prepared for what comes with a larger home, and understand that you might end up with a big purchase, rather than a good investment.
This is a guest post by Miranda Marquit. Miranda is a journalistically trained freelance writer and professional blogger working from home. She is a contributor for Mainstreet.com, Personal Dividends and several other sites. Miranda is not affiliated or endorsed by LPL Financial. The opinions voiced in this material are for general information and are not intended to provide specific advice and/or recommendations for any individual.