{"id":353212,"date":"2015-03-13T06:00:31","date_gmt":"2015-03-13T12:00:31","guid":{"rendered":"https:\/\/www.creditrepair.com\/blog\/?p=353212"},"modified":"2022-03-29T21:22:29","modified_gmt":"2022-03-30T03:22:29","slug":"money-makers-three-sources-of-income","status":"publish","type":"post","link":"https:\/\/www.creditrepair.com\/blog\/finance\/money-makers-three-sources-of-income\/","title":{"rendered":"Money-Makers: Three Sources of Income"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-353215\" src=\"https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/03\/sourcesofincome.jpg\" alt=\"sourcesofincome\" width=\"485\" height=\"688\" srcset=\"https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/03\/sourcesofincome.jpg 705w, https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/03\/sourcesofincome-212x300.jpg 212w, https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/03\/sourcesofincome-282x400.jpg 282w, https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/03\/sourcesofincome-450x638.jpg 450w, https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/03\/sourcesofincome-600x851.jpg 600w\" sizes=\"(max-width: 485px) 100vw, 485px\" \/><\/p>\n<p>We live in a world of opportunity, though it doesn\u2019t always feel that way. Despite a burgeoning online market, the national unemployment <a href=\"http:\/\/www.ncsl.org\/research\/labor-and-employment\/national-employment-monthly-update.aspx\">rate<\/a> still hovers at 5.7 percent. If you\u2019re stuck between both worlds, you probably feel frustrated by the lack of local opportunities and the uncertainty of virtual payoffs. Well, I have good news: It is possible to earn a significant side income. I\u2019m not talking about an extra $100 per month. No, I\u2019m talking about real, life-changing profits.&nbsp;<!--more--><\/p>\n<p>Before venturing into new territory, let\u2019s start with the basics:<\/p>\n<ul>\n<li><strong>Decide how much you can invest. <\/strong>When time and money are scarce, investing in a new career venture can be risky. Protect yourself by analyzing your schedule and setting firm limits. How many hours can you contribute each week? If the opportunity requires an up-front investment, how much can you afford to spend? Write these numbers down and stick to them.<\/li>\n<li><strong>Consider your strengths and interests. <\/strong>You won\u2019t succeed in a side venture without motivation. What excites you? Do you have an existing passion or are you interested in learning more about a specific field? Rank your goals and narrow them to a few professions. If you need help, search the Internet for entrepreneurs with similar skills to learn more about their career paths.<\/li>\n<li><strong>Consider your financial goals. <\/strong>How much is working a side job worth to you? $500 a month? $1,500? $5,000? When money is a key motivator, it\u2019s important to determine your bottom line. Establish monthly financial goals to help you stay on track.<\/li>\n<\/ul>\n<p>Ready to go? Below you\u2019ll find a few lucrative career choices that span multiple interests. Consider:<\/p>\n<ol>\n<li><strong>Becoming a home inspector. <\/strong>If you crave structure and on-site work, home inspection is the perfect choice. The average inspector earns $300-$500 per home visit. While licensing requirements <a href=\"https:\/\/www.dol.wa.gov\/business\/homeinspectors\/hilicense.html\" target=\"_blank\" rel=\"noopener\">vary<\/a> by state, students generally need minimal hours of on-site training and less than $1,000 to take the exam. As a bonus, work hours are flexible, allowing you to jumpstart your own business and see customers in your spare time.<\/li>\n<li><strong>Sharing (and selling) your expertise. <\/strong>If you possess valuable skills, why not sell them? Consider the following paths<strong>:<\/strong>\n<ul>\n<li>We\u2019ve all seen the online writing content mills and bidding sites. These jobs, primarily aimed at stay-at-home moms, often pay a measly $1 or $5 per article. Don\u2019t waste your time with small payouts. Invest in a <a href=\"http:\/\/www.writersmarket.com\/\">Writer\u2019s Market<\/a> subscription and learn how to pitch ideas to legitimate employers. Depending on your topic, it\u2019s possible to earn hundreds of dollars per piece.<\/li>\n<li>You don\u2019t need a Ph.D. to share your wisdom with others. For example, Steve Carrolla is a licensed contractor with 25 years of experience. In addition to running a full-time construction company, he teaches a weekly business course at the local college. Take a lesson from Steve and consider the opportunities in your community. If you spot a need, present yourself as the person to fill it.<\/li>\n<li>You may think Etsy is another dead-end road, but it\u2019s not true for everyone. For example, <a href=\"https:\/\/www.etsy.com\/shop\/birdesign?ref=pr_shop_more\">Birdesign<\/a> owner Roselyn Carr sells downloadable Photoshop templates for photographers. Her monthly revenue? $10,900 in primarily passive income. She\u2019s not alone in her potential. Click <a href=\"http:\/\/www.freshrag.com\/15-etsy-shops-that-are-killing-it-with-sales\/\">here<\/a> to read about Etsy\u2019s success stories and find your own motivation.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Investing in real estate. <\/strong>We\u2019ve talked about when to <a href=\"https:\/\/www.creditrepair.com\/blog\/finance\/credit-repair-and-real-estate-when-to-sell-your-house\/\">sell<\/a> your home, but when should you invest? Buying income property can yield significant and long-term income. For example:<\/li>\n<\/ol>\n<p>Mark and Krista Conner recently inherited $30,000. They live in a college town and think an income property could help them secure an early retirement. They find a three-bedroom house listed for $125,000. The math breaks down as follows:<\/p>\n<ul>\n<li>Home price: $125,000<\/li>\n<li>Down-payment: $25,000 (20 percent)<\/li>\n<li>Mortgage: $100,000<\/li>\n<li>Interest rate: 5.5 percent<\/li>\n<li>Property taxes: $3,300 per year<\/li>\n<li>Homeowner\u2019s insurance: $800<\/li>\n<li>Monthly cost: $833<\/li>\n<li>Rental price: $1,475<\/li>\n<li><strong>Annual income: $7,740<\/strong><\/li>\n<\/ul>\n<p>As Mark and Krista learned, an initial investment could pay off big in the future. Talk to your financial planner about whether income property is right for your budget.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We live in a world of opportunity, though it doesn\u2019t always feel that way. Despite a burgeoning online market, the national unemployment rate still hovers at 5.7 percent. If you\u2019re stuck between both worlds, you probably feel frustrated by the lack of local opportunities and the uncertainty of virtual payoffs. Well, I have good news: [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[158],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.5 (Yoast SEO v18.5.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Money-Makers: Three Sources of Income - CreditRepair.com<\/title>\n<meta name=\"description\" content=\"It is possible to earn a significant side income. I\u2019m not talking about an extra $100 per month. No, I\u2019m talking about real, life-changing profits.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.creditrepair.com\/blog\/finance\/money-makers-three-sources-of-income\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Money-Makers: Three Sources of Income\" \/>\n<meta property=\"og:description\" content=\"It is possible to earn a significant side income. I\u2019m not talking about an extra $100 per month. No, I\u2019m talking about real, life-changing profits.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.creditrepair.com\/blog\/finance\/money-makers-three-sources-of-income\/\" \/>\n<meta property=\"og:site_name\" content=\"CreditRepair.com\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-13T12:00:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-30T03:22:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/03\/sourcesofincome.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sarah Szczypinski\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.creditrepair.com\/blog\/#website\",\"url\":\"https:\/\/www.creditrepair.com\/blog\/\",\"name\":\"CreditRepair.com\",\"description\":\"We are the credit repair experts\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.creditrepair.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.creditrepair.com\/blog\/finance\/money-makers-three-sources-of-income\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/03\/sourcesofincome.jpg\",\"contentUrl\":\"https:\/\/www.creditrepair.com\/blog\/wp-content\/uploads\/2015\/03\/sourcesofincome.jpg\",\"width\":705,\"height\":1000},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.creditrepair.com\/blog\/finance\/money-makers-three-sources-of-income\/#webpage\",\"url\":\"https:\/\/www.creditrepair.com\/blog\/finance\/money-makers-three-sources-of-income\/\",\"name\":\"Money-Makers: Three Sources of Income - CreditRepair.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.creditrepair.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.creditrepair.com\/blog\/finance\/money-makers-three-sources-of-income\/#primaryimage\"},\"datePublished\":\"2015-03-13T12:00:31+00:00\",\"dateModified\":\"2022-03-30T03:22:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.creditrepair.com\/blog\/#\/schema\/person\/d3e71b72daf197806b1741f59a515dc7\"},\"description\":\"It is possible to earn a significant side income. 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