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drones
What scanning app do you use?
And how do you make the decision on what product into buy?
Do you just find something at a sale price and re sell it?
Side Hustles 2015
- Thread in 'General' Thread starter Started by swaggdaddy,
- Start date
drones
What scanning app do you use?
And how do you make the decision on what product into buy?
Do you just find something at a sale price and re sell it?
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The more you learn the more you earn
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The more you learn the more you earn
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The more you learn the more you earn
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repped.. I guess I have a lot more reading and learning to do. Someone was telling me about mutual funds, what do you think about that?i mean you can make money on any timeframe it really just comes down to your execution
check out the intelligent investor by benjamin graham
technical analysis by brian shannon
william oneill's book how to make money in stocks
jesse livermore's how to trade stocks
if investing is your goal, i.e. you want to buy and hold for the long term, you need to learn how to read fundamental data and at least be familiar with technical analysis so you can pinpoint entries, warning signs, when to add and or exit a trade, etc.
one piece of advice i'd give, just wait for the market to crash before putting any serious bucks to work. get your feet wet with a small dollar amount, learn but save some powder for the crash. you always want to have cash handy.
come up with a plan that works for you. i personally am a day trader, i trade options and its what works for me. if i was looking to invest, i personally wouldnt risk more than .5-15% of my book on anyone stock. most positions would be around 5% of my book this way i can protect myself somewhat from losing my entire account due to black swan risk (i.e. waking up one day and seeing your company bankrupt like GTATQ).
also just know, unless we're coming off a stock market crash and prices across the board are depressed, a cheap stock is a cheap stock for a reason. something like AMD is under 3 bucks because it's a piece of ****. so dont get caught up in the whole oh that's cheap that's gotta be good value. you want stocks that will grow and have positive cashflows. and if you're into dividends which is cool, you dont want to have to worry too much about depreciation in stock price and potential dividend cuts (i.e. RIG). you want companies that have the cash handy to increase their dividends each year like KO and AAPL.
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Go for it, brother.
It's truly a great experience.
I'll have to ask him again, but I believe it was Kaiser. I wasn't too familiar with the area.
-Drew
If it was Kaiser that's interesting, didn't know they paid that much always thought they gave garbage service every time I went there.
I could be wrong
I'm not from SF. -Drew
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In.
I need some side income that doesn't take too much effort...shoot if it pays enough it could replace my part time job.
I need some side income that doesn't take too much effort...shoot if it pays enough it could replace my part time job.
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Side hustle will continue to be ebay.... past 3 months I have sold over 12k in video games. Really easy once you gather some solid local connection that give you the products for dirt cheap.
May also buy a second property this year and rent it out.
May also buy a second property this year and rent it out.
$tacy
formerly willchamberlain
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Fontaine u on the right page brother. I work for a freight company and a dude I work with drives here but owns a truck of his own. He hired a dude to drive his truck he owns to pick up freight out of state and works here mon-fri. Other dude says his brother started a pallet business. He simply just takes wood and makes standard 48x40 pallets or any requested sizes. With all the shipping and warehouses there's always a market for that. He eventually quit his day job and pays someone 8.50 hr to make the pallets while he handles the business side only.
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SideHustleNation.com
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nothing wrong with them if you dont have the time or desire to follow individual names. mutual funds, long as you find the right ones ran by very good money managers, are awesome.i mean you can make money on any timeframe it really just comes down to your execution
check out the intelligent investor by benjamin graham
technical analysis by brian shannon
william oneill's book how to make money in stocks
jesse livermore's how to trade stocks
if investing is your goal, i.e. you want to buy and hold for the long term, you need to learn how to read fundamental data and at least be familiar with technical analysis so you can pinpoint entries, warning signs, when to add and or exit a trade, etc.
one piece of advice i'd give, just wait for the market to crash before putting any serious bucks to work. get your feet wet with a small dollar amount, learn but save some powder for the crash. you always want to have cash handy.
come up with a plan that works for you. i personally am a day trader, i trade options and its what works for me. if i was looking to invest, i personally wouldnt risk more than .5-15% of my book on anyone stock. most positions would be around 5% of my book this way i can protect myself somewhat from losing my entire account due to black swan risk (i.e. waking up one day and seeing your company bankrupt like GTATQ).
also just know, unless we're coming off a stock market crash and prices across the board are depressed, a cheap stock is a cheap stock for a reason. something like AMD is under 3 bucks because it's a piece of ****. so dont get caught up in the whole oh that's cheap that's gotta be good value. you want stocks that will grow and have positive cashflows. and if you're into dividends which is cool, you dont want to have to worry too much about depreciation in stock price and potential dividend cuts (i.e. RIG). you want companies that have the cash handy to increase their dividends each year like KO and AAPL.
repped.. I guess I have a lot more reading and learning to do. Someone was telling me about mutual funds, what do you think about that?
cubanref
Supporter
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Planning on buying land in Cuba by the end of this year so I can build a house and use it as rental property. Also get a few taxi drivers to work for me...trying to get in before the states take over everything down there
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Why be embarrassed? To me, it's much better building your wealth and creating multiple cash flows.
I guess I also believe that I don't want to depend on someone else (e.g. job, company) for my retirement. My fam retired at 35, so maybe I've been influenced by them.
fontaine
Banned
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Not sayin its a bad idea bruh
Just letting you know there are some risks involved with government funding stuff
For my college kids... Learn how to fix computers... Charge $40
Dudes watch and download the wrong types of porn...
And chicks will download anything...
Learn how to clean up and uninstall on the nonsense stuff people download ..
Charge a fee and profit...
Imagine fixing 4 computers a week...
...
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That only works on smaller campuses...or community colleges...
Most major schools have an in house IT department that will fix your computer for you (cuz its covered in tuition)
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My first shipment I paid for the merchandise, Amazon Pro Seller subscription fee ($40/mo) and Profit Bandit (scanning app, $10/mo) with a credit card. Once I got that initial investment back I paid that balance back on the credit card and now I'm using cash flow from the business itself.
Anything man...toys, exercise equipment, coffee filters...what I'll say is that you should never assume you know what people wouldn't buy because you'll always be surprised by what is actually a hot seller. The scanning app will tell you what the item's sales rank is. Generally speaking an item with a sales rank of 50,000 or less is what you should start with because those will sell faster. Items with brand recognition are more likely to have a good profit margin.
The app is called Profit Bandit, there's a few of them but that's my preferred one. Like I said above it costs $10/mo. You can get a free trial for like 50 scans, I think.
I tend to scan items from brands that are well-known and established. Those tend to have higher sales rankings. But sometimes you scan a bunch of **** and nothing good comes up.it's just part of the game and you have to put your head down, and keep scanning. Generally speaking every 10-15 items I'll come up with something good, but it's all relative and sometimes you get lucky/unlucky.
Stuff on sale is usually a good move but there are some items that sell for higher than retail. A lot of people don't care that they're overpaying, they just want the item delivered to their door and don't mind spending the extra bread. Or they live in a place that doesn't have a lot of Targets or they only have one grocery store.
But generally speaking, items on clearance are an easier place to start because your options are narrower and you're more likely to get a decent margin.
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That is where I start and finish for my side hustle.
The stores I go to know me and set aside most of their clearance items for me. My margins on avg are 300- 400% + ( buy a game for 5 dollars CND, sell it on ebay for 20+usd)
Also like Drones said, people will buy almost anything. I remember I sold a blu ray sleeve (cardboard around a blu ray case) for 60 dollars on ebay.
I don't use any scan apps since i only sell on ebay. I just go to my stores and look through everything they have set aside for me and then check completed listings.
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Whats you guys opinion on FX trading as a side hustle?
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never traded forex and have no desire to at the moment. if it interests you, study your *** off, spend some time paper trading and then slowly size in with a little money and try your hand at it. keep your sizing small and always manage your risk.
36 ounces
Banned
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**** a side, I'm eventually going to make that a main hustle
if you know what you're doing, you can make a lot of money. I say find someone who is successful at it and pay them to teach you
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the key to trading in general, as much as it sucks initially, is finding a reputable chatroom, subscribing to it, asking questions and studying your *** off to get good. for day trading i got my start with the Investors Underground community, learning their style, the charting they look for, how they play things. for options, i had to sign up to Keene On The Market and learn how that animal works, how to utilize options, etc. It sucks having to pay some of these fees, but in the long run, the knowledge you can gain is invaluable and it could potentially save you a lot more money in the long run.
i dont know any reputable forex communities so yeah, look for someone that posts their pnl and explains why they trade, not just which trades to take (solely piggybacking off alerts is a fools game)
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Been on penny hoarder looking at the ways to make money groom home. Going to look into the transcription and other things. I low key want to open a food truck/trailer but aunt have capital
sonoftony
Supporter
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I fix computers on the side. Once I get more of an understanding on the networking end, I can pitch to the small businesses
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Might not start making money on it til late 2015 but I've decided to pick up DJ'ng. Been networking with a few people here in the city as I learn. Easy $100-200 for a 2 hour set once I'm on.
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