I am sure this is not the greatest place in the world to ask for financial advice but sometimes the best inspiration and knowledge come from places off the beaten path

I am 35, M, single (for tax purposes), live in FL.

I bar tended as a career, I also have run my own firearms related business, I like to barter and sell things on the side typically just to get a toy I like not necessarily for bills

I used my first time home buyers loan 2 years ago to buy a multi-family property that has two houses on it; I fixed it up and tried renting out rooms but did not particularly like having to deal with multiple people so even though it was less money I moved out and rented the two units both out, quit working and took 10 months off of work

I rent a house from a family member and get a really, really good deal by doing landscaping on their multiple houses and helping them occasionally with mechanics, etc

My living expenses are around $1400 a month, maybe another $300-700 on food depending if I go out to eat(I am a frivolous spender and I know it); that includes my mortgage, my rent, insurance, etc(I own my vehicles)

I DO have some credit card debt, I got involved in a civil suit and racked up about $30k in credit card debt; when I applied for my mortgage my score was 819, I have multiple cards with $20k+ limits and about 70k in total unsecured credit.

I have a base income from my rentals and a few interest bearing investments of about $3600-4k a month so I am able to pretty comfortably pay off $1500 or sometimes more than $2K a month just from my rental income towards my debt(I did have 45K in credit card debt 4 months ago so I have knocked big chunks off)

I also have paid off about a quarter of my mortgage principal in 2 years

I have been working a job for 6~ months partially to help cover my legal expenses but I also do haphazardly spend thousands of dollars on random things(experiences, firearms, NVD, vehicles, etc) but I have been making $6-7K a month for about 6-8 months

I'm friends with the owner at my job and while I am putting the money to good use it doesn't pay very well, I don't like a lot of my co-workers(the head clerk is outright disrespectful, the female office manager bark at people and shushes them although she knows not to talk to me like that and I know people steal which i hate too)

But either way I started working there as a favor really since I do my own side business but he may end up closing down or I really want to quit anyway but am trying to stick it out for him as my friend

Regardless when the job does end I may end up just trying to find a better job but I do not particularly want to go back to any type of service job or customer service I am kind of burnt out on it and if anything I'd really prefer to not actually have to show up to an office space or stick to a firm work schedule(like work from home, on my own time, etc)

One of my major goals is to pay down my CC debt as fast as possible and my equity enough that I could buy quick sale houses using a home equity line of credit with no need of bank approval, fix them up if necessary and immediately rent them out, pay them off and buy another, so on, and so on; my goal would be 12K-15K monthly net income before I felt comfortable slowing down and living a little more lavishly, letting my money work for me, etc


So my major question is; what kind of options do I have for supplemental income that are realistic even if it's only $1K-2K from home.

I've looked at Amazon turk in the past but it seems like it would take A LOT of effort even for just a few hundred dollars and that concerns me, I have in the past done daily tasks for crypto which was actually not terrible returns for my time, etc

I've in the past day traded both crypto and stock shares with some success on fast aggressive trading but I know you can lose it just as fast if you are not careful

Even trading groups, repetitive tasks, crypto mining, answering quizzes (some sarcasm)

Can anyone offer some legitimate, worthwhile direction in this?

Am I just a d-bag for not going out and getting a real job at least until I can expand my rental income?

This post was edited by HazelsDad on Jan 28 2024 12:59am

Idk what you need to do for income, but 101 is to get a line of credit or some other kind of better financing than credit card debt.

You're probably paying like 18% interest on that... get a line of credit at 7% or something and kill your high interest debt.. then pay down the line of credit.

If you can't get credit look for a debt consolidation service.

Work for someone if you are not the entrepreneur or Start or buy a business. Doing literally anything you like. Don't overthink it just learn it and become good at it. Differentiate yourself find what your strengths and make them even better then hire people to cover the things you are not that good at or find tedious. Keep grinding build reputation, scale come back in 10 years

maybe throw 1k on ninjatrader or multicharts with amp broker, and scalp /MES futures. can probably bring home 1k a month if you just scalp a tiny bit a day ($40-50~) and stop. stop after you're losing too as you'll never win 100%. don't over trade, better to stop and wait another day

ninjatrader is free now but takes bigger fees. but their chart trader is free with it unlike before, and it's really powerful.

multicharts has a chart trader too, bit more difficult to setup however

could also just go the regular way of simply using the buy/sell market buttons lol. especially the first 10 minutes during market open, the movement is insane

This post was edited by ChocolateCoveredGummyBears on Jan 31 2024 10:07pm

Thing is when you’re starting off day trading, even with rules, you don’t just become profitable right away, if ever. It requires time , money, being humbled a few times , before 99% of people would do well to just give it up. You are participating in a system designed to take money from you doing this. I’ve lost a lot daytrading

To OP, For stable predictable 1/2k income, look into developing a dividend portfolio. Something you don’t have to look at at all and won’t grow at market pace however with 100k you can easily have a portfolio which will give you 1-2k a month in dividends as long as you don’t have much growth expectation for the 100k

100k portfolio delivering 1k per month would be a 12% yield.

That's a scary yield to expect any kind of growth from. 4% is a pretty reasonable yield to expect from a blue chip with growth, like a bank stock. But that's $333 a month off 100k.

Yeah by not much growth expectation I meant closer to no growth expectation tbh

But it’s a weird time. Like Pfizer at decade low with an 8% yield, over the next decade you will get some growth here for example. Wouldn’t expect any growth from the REITs I would add to this hypothetical portfolio

More like 6.21%, and trading at a P/E of 72.. 😬




This post was edited by ZeaLORDeaL on Feb 1 2024 12:46pm

I retract

6% sorry

That PE is scary.