$400 a Day Side Hustle Cash!
Originally Posted On: https://www.stevencarlson.show/videos/2021/09/400-a-day-side-hustle-cash.html
Many of you have asked for more videos on passive and semi-passive income sources, so today, I thought I would show you exactly what I do and how I make $400 per day in mostly passive income from side hustles. How I plan to double this within a year, and how you can do the same—all this and more in today’s video.
Hello and welcome to the Steven Carlson Show; I’m Steven Carlson. I am a tech entrepreneur, real estate investor, author, YouTuber, and volunteer paramedic.
Please stay to the very end of the video for some quick information on how I can help market and expand your business. Ok, enough of that, let’s get to today’s video.
In calculating my income, I wanted to keep my primary salary and profits from my tech company separate. I did this because that is more of my “day job” and not a side-hustle. Adding that income would have, of course, made the income number much larger and would have sounded cool as a video title, but that would have been dishonest. So, I decided only to add up the numbers that are from my true side-hustles, things I put less than 10 hours per week into collectively.
One last note before I get to the numbers, I also excluded dividend income that is part of my IRAs, as those are retirement accounts, and I cannot touch that money for another 20 years or more. Once again, adding those numbers would have made my total larger but would have been dishonest to the whole “side-hustle, cash in my hands daily, idea of this video.”
Now that we have set those ground rules, let’s get started. This list is in no particular order.
- The first item on my list is passive income from book sales. As you guys may know, I have written a few books (America Hijacked: How Deep State Actors from LBJ to Obama Killed for Power and Money)in the past, and while I am far from a New York Times Best Selling Author, I still make a decent income each month. Looking at my Amazon statistics, my revenue for the past 12 months was $11,741.87. Taking this and dividing by 12, I get an average income of $978.48 per month or $32.61 per day.Of course, while this is entirely passive right now, it did take time, in the beginning, to research, write, proofread, and produce the book. Once completed, I put zero time into the book sales per month; Amazon handles sales, printing, shipping and pays me once a month with a direct deposit. Honestly, I do not even look at the stats that often; I just get a deposit each month. They do hold your money for approximately 90 days, so a book sale from today I would see around the end of December. This is just in case a customer returns the book, etc. So, keep this in mind if you publish a book with them. I have an entire video dedicated to publishing on Amazon, search YouTube for Steven Carlson Amazon publishing side hustle, and it should come up for you.
- The next item on my income source list is the google AdSense revenue YouTube pays me when people watch my videos. I am not sure if I am allowed to tell you the exact amount they pay, but let’s say it is averaging about $1500 per month. This averages to $50 per day. Obviously, other channels are making ten times or more than this PER DAY, but not bad for my channel.
- This next time is a bit of a follow-up to the previous item. Occasionally you might notice I will say this video is sponsored by “X, Y, Z company.” In those cases, the company has paid me a flat rate to mention them in the ad. These fees vary, and I know I cannot tell you precisely what each is paying per video, but what I can say is average across the month for the handful of mentions I make, I am paid about $2,500 per month, this comes out to $83 per day. Included in this number are also revenues from affiliate links in the show descriptions.I can honestly say everyone in this audience right now could start a channel. Pick a subject you are passionate about, side down in a quiet place of your house, and record. Your first few videos will suck, trust me, my first dozen videos were horrible, the next dozen, ok, and now a year later, I would still consider myself “getting started” and learning the ropes. It takes time, but the key is to make videos every week continuously. I have only missed videos on two occasions, once last year when I caught COVID and was in bed for two weeks; the second is when I was moving. Aside from that, I get out at least one video each week, most weeks two or three.
- Moving to my real estate rental units. As I have covered in previous videos, back in the early 2000s, I managed hundreds of flips during the heyday of foreclosures, starting as an assistant for another investor, then moving to work my own deals. Thankfully, as the 2008 crisis started, I was already transitioning my focus to my tech startup and was spared from the big bubble pop. Now, instead of fixing and flipping, I purchase and hold, renting units out. Also, because I do not want this to be my day job, I hire property managers to handle my properties. Right now, I have just under 20 units across three states, something I would not recommend you do. I fully agree with Meet Kevin’s suggestion to only invest within a 30-minute drive of your location. The reason I am in 3-states is, 1) the state I was living in, 2) the state I thought I was moving to, and 3) the state I ended up moving to.It would be almost impossible for me to manage my properties in different states without property managers in the area. They handle the work and send me a direct deposit each month. In fact, as I was writing this script, a receipt came in from the property manager that handles my Anchorage, Alaska properties. $6,952.58 came in from rent this month from those units, and he has already subtracted most of the daily upkeep expenses for those units. The only thing I still need to pay is the mortgage payment for those buildings.Collectively, across all my units, I collect $12,750 per month in rent. After subtracting my mortgage payments, maintenance, management fees, etc., I am left with approx. $6025 on average, and this comes out to approximately $ 200 per day.As a side note, if you want to see how I made an extra $20k using a little-known financing secret, check out my video https://youtu.be/cYIk7Jd23Rc – That video also covers how to get started on finding your first investment property.
The last source of passive income is from dividend stocks. As I mentioned at the beginning of this video, I did not include dividend income from stocks held in my IRAs, as those cannot be accessed without a massive tax penalty until retirement age. So, I only added up the holdings in my brokerage accounts at my bank, plus the M1 Finance Pies, Webull account, and Wealthfront accounts I regularly show you in videos.
Year-to-date, I have received $8,569.65 in dividend income on these accounts, which averages to $1,071.20 per month from Jan – Aug, and that comes out to approx. $35.70 per day.
Personally, I hate dividend stocks in my main brokerage accounts because you are taxed at a much higher rate on these, so I do not purposefully acquire stocks just for the dividends. I choose stocks that I believe in the company and want the stock value to increase, not necessarily, the income from dividends. If it happens to pay dividends, that is a bonus, but not my goal. Stocks like Apple, Microsoft, Google, Tesla, etc., I purchased for the long term.
Then in my IRAs, I load up on dividend stocks. Why? Because those are tax-advantaged accounts, and you do not have the same tax ramifications. So simply put, if I want dividend income, I put it in a retirement account, not a regular taxable brokerage account.
I have multiple videos on IRAs, just search YouTube for Steven Carlson Show IRA, and they will all show up for you.
When you add all of these daily averages up, $32.61, $50.73, $83.33, $200.83, $35.70, it comes to $400 per day, or actually $403.20 if you do not round the cents.
At the beginning of the video, I said I wanted to double this income per day. To do this, I am working on better and more engaging videos on this channel, and as the subscriber count and views increase, additional ad revenue will be generated. Additionally, I am working on two new books that are scheduled to come out next year. The first is about Emergency Medicine, teaching ground ambulance EMTs and Paramedics to flight like a flight medic from an emergency medevac helicopter. The second is a book on the historical lessons of small business owners and how those hard lessons from the past can help today’s entrepreneurs survive and even thrive in the post-pandemic world. This book is part of my #OpenForBusiness small business awareness campaign where myself and a team of other amazing YouTubers will fly in a helicopter to all of the lower 48-states, interviewing small business owners just like you for the book and for this YouTube channel.
There are still a few spots left if you want us to fly and land the helicopter at or near your office for a quick media appearance and photoshoot. Trust me, local TV and news stations love filming helicopters landing at events. Even if landing at your location is not a possibility, we can still hand out marketing material with your information on it to businesses nationwide. Jump over to my website, #OpenForBusiness and register your business today.