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episode 458: Finance Friday: Pay Off Debt, Invest in Real Estate, or…Buy Vending Machines?
What if one part-time side hustle could replace your entire income? Even better, what if you could keep your full-time job and spend a few hours a week making thousands extra a month, raking in cash, and reaching financial freedomfaster? If you’re today’s guest, Ryan, then this is the situation you find yourself in. Don’t know which super lucrative side hustle we’re talking about? Stick around because you may have never thought of it before.
Ryan works full-time as a registered nurse in one of the most expensive areas of the country, Northern California. He’s made some ingenious money moves that allowed him to quadruple his income in just four years and live close to free every month in his own house. But, with a baby on the way, Ryan’s lucrative house hacking lifestyle may be coming to a close, and he’s debating what to do next. Should he pay off student loans, buy another home for his new family, stay in his current property, or expand his successful side hustle?
The good thing is that any of these moves could make Ryan richer, but he’ll be strapped for time with a sixty-hour-per-week working schedule and a newborn requiring constant attention. So, what’s the best money move to make for his future family? And should he go all-in on this wild side hustle that could make him even more than his job?
In This Episode We Cover
Ryan’s unbelievably profitable side hustle that almost anyone can start NOW
House hacking 101 and how to live-mortgage free every month
When paying off debt DOESN’T make sense (and what you should do with the money instead)
Investing in real estate vs. your side hustle and why mortgage rates have changed the game
Buying businesses from retiring baby boomers and the HUGE opportunities out there
How Ryan quadrupled his salary in just four years (without burning out!)
And So Much More!
Links from the Show
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Money Moment
Alex Hormozi on The “Weak Links” That Will Make Anyone a Millionaire
Leila and Alex Hormozi’s Unbelievably Simple Investing Advice
Codie Sanchez: These “Boring Businesses” Will Make You Rich
How to Make Extra Money in 2023: 21 Ideas for Part-Time Gigs & Side Hustles
Passive Income, Aggressive Retirement
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-458
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