5 Ways To Make $500/Day
5 Different Ways To Make $500/Day
I'm going to teach you five different ways to make $500 a day long-term.
I have ideas that are a little different than how everyone else is telling you to do it and the key difference is these ideas are something that will last for the long haul. There are a lot of ways to make money that's trendy now, but are they going to be there in the future? Are you trying to create something that's going to last for the long haul? These five will.
So before we get into the five, let's just talk about the idea of making $500 a day. When you break that down into a month, you're talking about $15,000 a month, which gets you to $180,000 a year. There aren't many jobs that will pay you $180,000 a year. For most people to make that kind of money. You got to own your own business or be in some commission or sales type deal. Or you've got to be a high level professional, like a lawyer or a doctor. The beauty with the five I'm about to give you is not only are they long-term, but they don't require a degree. They don't require a lot of startup costs and you can start these things right away.
- Anything real estate related
You can get started flipping houses. You can get started wholesaling real estate. You can get started as an agent. All three of them can make you $500 a day. Now that's the beauty with real estate is that you can do any of those and be successful.
When I first started out in 2010, I was a licensed agent and I sucked at it. I was no good. I definitely wasn't making $500 a day. I eventually got burnt out doing that. It wasn't until five years later that I started flipping houses. I know many other agents who make well over a million dollars a year, you can be a very successful agent. I just wasn't.
You can also do real estate wholesaling which is great because you don't need any money. You just have to find a really good deal and then sell it to a guy like me, who will buy it. You most certainly can make $500 a day wholesaling. All you have to do is a $15,000 wholesale fee, once a month. Our average wholesale fee this year is over $20,000. Will that be your average? Probably not. It may be less. The point is, it's definitely doable if you put in the work and you do the right things.
So whether you're trying to become an agent, whether you're trying to become a house flipper or whether you're trying to become a wholesaler, all of them can achieve the goal of making $500 a day.
- Flipping anything
Now I've done multiple videos about couch flipping, and they've been my most successful videos. You can make $500 a day flipping stuff. It can be couches, appliances, video games, watches, the possibilities are endless.
There are so many ways to sell stuff. You can go on Craigslist, Offer Up, Facebook marketplace. All of these places have undervalued items that you can buy and resell for a profit. Back in the day when I was couch flipping, I was always trying to make $400 a day. I would try to buy two couches a day with an average profit of $200 per couch that put me at $400. I was working about four to five hours a day. If I really wanted to make $500 a day, I could have worked a full eight hour day.
My advice is to pick one niche. If you're in tune with the cell phone market and you know what they're selling for, do cell phones. If you're into trading cards, if you're into sports memorabilia, you can flip that stuff.
There's literally no excuse why you can't make $500 a day if you specialize in something. The key is going to be how much inventory you can get. I'm not saying you have to just only do one specific thing, but you should have one thing that you're really good at and then start finding other things that you like to do. There's a whole list of things that I bought and sold because I just knew the prices of them. They kind of went hand in hand with couches. If somebody was looking for a couch, they probably were moving into a new house and they might be looking for a dresser as well. I sold multiple things many times.
YouTube is an amazing thing that anyone can do. Well, what you may not understand is that YouTube will actually pay you to create content. Every single ad that you see on my videos, I'm getting paid for. I make revenue on every single ad that's on my channel, and that's just one source of revenue with YouTube. You can make money on sponsorships, merch, the list goes on and on. The key is creating a channel that develops a following. If you can create a channel that gets a lot of subscribers and a lot of views, you can easily make $500 a day.
Is it hard work? Absolutely. Is the reward worth it? Absolutely. You create a good YouTube channel and you can monetize it forever. You might be wondering, “what would I make my channel about?” My advice is to make sure your channel is something you're passionate about. I love talking about real estate. I love talking about entrepreneurship. I love talking about money. That's literally the slogan in my channel because those are things I'm passionate about. I know it's something that many other people are passionate about and they'd like to hear my perspective. Maybe you're passionate about sports, maybe it's makeup, maybe it's trading cards, whatever. There is somebody who's interested in what you're interested in.
- Online Courses
Online courses are great because once you make it, it's pretty much pure profit. I have the initial upfront cost to film it, to create it, to make it good. Then every unit I sell doesn't cost me any more money. The only thing that'll cost me is advertising dollars if I go that route. Creating a course can be highly lucrative.
Everyone's an expert in something. You don't have to flip all these homes to make a course. You can make a course on whatever you're passionate about. Maybe you're a chef and you make great food. You can make a course on that. Maybe you're into sports and you do a developmental course on how to improve your jump shot or how to improve your swing and hitting. Maybe you’re fitness, you can do a course on fitness. The possibilities are endless, and it's not that hard to film. You could literally film your course with your phone, upload it to a website like Teachable. It's super simple and easier, more than ever to do it. So think about what you're passionate about, what you might have some expertise in and consider making a course about that.
- Subscription-based models
Logan Paul and the ACE family were making a ton of money from their subscription based models, millions of dollars. You don't have to make millions of dollars. We're talking about only making $500 a day. If you start some type of subscription-based group, it's not that hard to grow to $500 a day. If you charge $20 a month and you had 750 people in your group, you would make $500 a day.
I get 750 people to sign up for something might seem like a lot, but I've seen many real estate related groups that have tens of thousands of members charging 20 to 30 bucks a month. The members love it. They get great value. The person in charge of the group is bringing in guest speakers, providing content, giving them documents that they need. It works really well and once again, it's going to be like an online course. It's going to be like YouTube. You got to do something you're passionate about. If you can find something you're passionate about and you get other people that are passionate about it, you can build a group for 20 bucks a month and make great money.
You want to buy and sell stuff that you're passionate about. You want to start a YouTube channel. You want to do an online course. You want to start a subscription based model. These are all things that you're passionate about and have expertise about. That's what makes doing them so awesome. If you're already passionate about it, you're going to be successful at it