Miami Financial Consultants – Making money is everyone’s top priority, whether they’re the breadwinner of their household, a young student, A-list celebrity or even well into in their retirement. In today’s world, the Miami financial consultants know money is of utmost importance no matter where you live. Housing is expensive and shows no signs of getting any cheaper, health insurance is unaffordable for about 44 million people in the U.S., and the Agriculture Department expects food prices to keep rising beyond inflation for the next few years. Did you know egg prices have gone up 30%, dairy prices spike 12% and baked goods 9%?
In short, day to day life costs a lot, and more and more people are looking for a side hustle along with passive income to reach more financial independence. In this blog, the Miami financial consultants help you find the right side hustle for you. Keep reading for creative ideas on how to make more money.
Miami Financial Consultants on Rental Properties
Rental properties are one way to make extra cash to live a more secure lifestyle. If you already have savings, the Miami financial consultants suggest you look for a property that’s close to hot touristic areas where you’ll have an easier time renting it out. You’ll also be able to charge more “rent” overall as well as really make big buck during the busy season, such as Christmas time for example or perhaps popular music festivals.
But, it you’re barely getting out of living the renting lifestyle yourself, and looking to purchase your first home, you may want to buy something cheaper so you can but perhaps a studio to rent out for passive income. You can also choose to buy a home versus a condominium and rent out one or two bedrooms to pay your mortgage and stash some savings on a monthly business.
Private Notes as a Side Hustle
If you’re well established and secure financially, private notes are another way to make extra cash without having to be hands-on in real estate. You can lend money directly to property investors and decide how much interest rate you want to charge your borrower. Look for customers you can trust, with a great track record, and earn a certain percentage on the money you’re lending them. For even more security, you can choose to attach your private note to the property’s deed as a lien.
Turo Rents out Your Car For Passive Income
Surely you heard of Airbnb, but have you heard of Turo? Same idea, only for your car. The Miami financial consultants found out you can rent out your car including minimum insurance depending on where you live. If you have extra parking spaces, you can rent those out as well, just make sure to have a contract so you can protect yourself.
More Side Hustle Ideas
These days there are truly many ways to make extra cash, depending on how much you want. You can get into long term contracts such as lending money, but there are a lot of little things you can do as well. Drive an Uber, deliver with Postmates, pet sit some dogs, babysit, provide elder care, work as a private tutor, freelance as a graphic designer, photographer or by charging for any skill you have.
So which will be your new side hustle?