How 6 Side Hustles Pay Me $20,000 / Month

Summary

This video breaks down how the creator earns $20,000 monthly from six side hustles, including vending machines, eBay dropshipping, real estate, crypto mining, YouTube, and phone flipping. They share insights on how each business operates, their profit margins, and plans to scale their income to $100,000 per month. The creator emphasizes the importance of investing in semi-passive income streams, reinvesting profits, and creating engaging YouTube content. The video also highlights the challenges and successes faced in each hustle, offering practical tips for scaling small businesses.

Takeaways

• 💼 The speaker is running six side hustles that together generate $20,000 monthly and aims to scale this to $100,000 monthly in the future.
• 🛒 One of the first businesses started was a vending machine route, with an initial investment of $33,000. The vending machine brings in $300 to $400 per month, generating 50% profit.
• 📦 The speaker also does eBay drop shipping, earning a profit of around $250 from sales of $832 within two weeks by marking up items from suppliers like Walmart and AliExpress.
• 👥 Due to past actions, the speaker’s eBay account was banned, but they now partner with a friend to continue selling on the platform, offering the friend 10% of the profits.
• 🏠 The speaker is a landlord, renting a room in their house for $750, which lowers their mortgage payment to under $1,000 per month.
• 💰 Another side hustle is crypto mining. The speaker has two Bitcoin miners and has mined about 0.01946 Bitcoin over 18 months, generating a profit of $553 after electricity costs.
• 📈 The speaker believes in reinvesting profits into semi-passive income streams, such as vending machines, crypto mining, and potential rental properties.
• 🎥 Most income comes from YouTube, where the speaker has earned over $258,400 in 6.5 years, averaging $60,000 to $80,000 annually, plus an additional $5,000 to $10,000 per month from sponsorships.
• 📱 The speaker still flips phones, buying phones cheap from platforms like Craigslist and Facebook Marketplace and reselling them for a profit.
• 🔍 The speaker uses Zik Analytics to research eBay drop shipping trends and profitable products, and the software sponsored the video.

Q & A

What are the six different side hustles the speaker is currently running?

The speaker is running a vending machine business, eBay drop shipping, renting a room as a landlord, crypto mining, YouTube content creation, and phone flipping.

How much does the speaker make from the vending machine business?

The vending machine business makes $300 to $400 in sales per month, with a profit of $150 to $200 after costs.

What are the key challenges of running the vending machine business?

The main challenges are not having a key to the building, which requires waiting for a tenant to let the speaker in, and securing new locations, which can be a lengthy process.

How does the speaker conduct eBay drop shipping, and what are the profits?

The speaker lists items from supplier websites like Walmart, Amazon, or AliExpress at a markup of 20-30%. When an item sells, it is ordered from the supplier and shipped to the buyer. In the first month, they made $279.76 in profit from $1,200 in sales.

Why was the speaker’s original eBay account banned, and how did they continue the business?

The original account was banned due to previous actions like selling fake items. To continue, they partnered with a friend, using his name for a new eBay account, with the friend receiving 10% of the profits.

How much does the speaker make from renting out a room in their house?

The speaker rents out a room for $750 per month, which helps reduce their mortgage payment.

How much has the speaker made from crypto mining, and what challenges do they face?

The speaker has mined 0.01946 Bitcoin, worth about $1,577. After spending $645.35 on electricity, the profit is $553. However, profitability has dropped due to increased mining difficulty and Bitcoin halving.

What is the speaker's main source of income, and how much do they make from it?

The speaker’s main source of income is YouTube, where they make around $6,000 monthly from AdSense and an additional $5,000 to $10,000 from sponsorships.

How does the speaker approach investing their income from YouTube?

The speaker funnels their YouTube income into side businesses such as purchasing vending machines, investing in Bitcoin mining, and potentially getting back into car rental or real estate.

What is the speaker’s experience with phone flipping, and how does it work?

The speaker started flipping phones in high school, buying cheap phones from Craigslist or Facebook Marketplace and reselling them for a profit. They still do this occasionally, buying new phones from repeat sellers and reselling them for $50 to $100 profit.