What are your passive income gigs?

[gimmie11s]

Not really passive but in my extremely limited free time I fix air conditioners, heat pumps, furnaces, air handlers, and roof top units. I'm expensive. And I only work for cash.

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One of my childhood friends has a small, 2 employee HVAC business. Mega money for sure.

 

[gimmie11s]

Just looking at the campers being towed down the road, I'd say 1/3 of them don't have the hitch set up correctly. I'd also say more than half of the half ton trucks are well over most of their ratings. Not that they are going to fall apart because of it, but some have no business pulling what they are pulling.

Couldn't agree more.

To further that point, out here in the West (I see this ALL the time out here) id bet half the the 3/4 tons are overloaded pulling 40' fifth wheels.

 

[Klaus]

Have you considered multi family dwellings, smaller apartment complexes? I’m looking at a few, would engage a prop mgmt co obviously, but the upside seems terrific.

Rental properties are passive until they are not. And then they are the opposite of passive. Buy a 1031 asset or just high dividend stocks instead.

 

[Blkkbgt]

Just looking at the campers being towed down the road, I'd say 1/3 of them don't have the hitch set up correctly. I'd also say more than half of the half ton trucks are well over most of their ratings. Not that they are going to fall apart because of it, but some have no business pulling what they are pulling.

My personal favorites are the mini vans pulling trailers riding on the bump stops with the driver staring at the sky.

Starting next month I'll see several every weekend.

 

[supercharged91m]

Gonna start panhandling soon

 

[93Cobra#2771]

Couldn't agree more.

To further that point, out here in the West (I see this ALL the time out here) id bet half the the 3/4 tons are overloaded pulling 40' fifth wheels.

Absolute truth.

 

[jessie_sanders]

One of my childhood friends has a small, 2 employee HVAC business. Mega money for sure.

Sure is man. I could easily make it a full time gig but I don't want the headache of keeping books, insurance, taxes and all that shit. I really just do it to stay up on what's out there. And it's fairly easy money picking and choosing what I want to do.

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[mc01svt]

Have you considered multi family dwellings, smaller apartment complexes? I’m looking at a few, would engage a prop mgmt co obviously, but the upside seems terrific.

lower income "class c" properties make a small monthly cash flow. But you have to deal with more turnover and tenant issues. Between maintenance, insurance, vacancy, capital repairs, landscaping, property management fees you will be doing good to clear about $80 per door per month. So a 10 unit building may net about $800 per month. Class D properties may do about more cash flow but you have to worry the occasional fentanyl OD, shootings and stabbings. Anyone that says different is lying to get a building sold.

Best play is to buy one distressed, fix it, get as many leases signed as possible and sell it at the new valuation.

The newer nicer class luxury apartments cost so much to purchase you will never cash flow. The only benefit is depreciation, equity gain and cash out when you sell.

 

[MG0h3]

I would def stay clear of any low income rentals.

Smaller multi family units included.

I looked into a few there were for sale a few years ago.

Realtor steered me away. Said they tried it and found that you just couldn’t get the revenue because if people are going to rent an apartment, they want the amenities. Pool, club house, etc.

Re real estate in general, I do think we’ll see a decent correction begin in the next 12-18 months.


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