Ashley:
That is Actual Property Rookie episode 294.

Ava:
We had been making about 10 grand a month with sofa flipping. On common, I’d say in the event you’re like constant and devoted, you could possibly do wherever from 2 to five every week.

Josh:
You don’t wish to drive 10 miles delivering $20 in meals, and also you make a $2 tip. There’s DoorDashers making $10 an hour, after which there’s different ones making 40 or 50.

Ashley:
My identify is Ashley Kehr and I’m right here with my co-host, Tony Robinson.

Tony:
And welcome to the Actual Property Rookie Podcast the place each week, twice every week, we convey you the inspiration, motivation, and tales you’ll want to hear to kickstart your investing journey. And Rookies, we received an ideal, nice episode for y’all in the present day. We’ve been torn round with this idea within the background for some time now, however one of many greatest obstacles or challenges that we hear from aspiring traders is the capital that’s required to get began. Whereas there are particular varieties of actual property investing or methods the place you will get in for little to no capital, quite a lot of occasions you want some money to get began. And we thought what higher approach to overcome that impediment than convey again some earlier company from the Rookie present and from the Actual Property Podcast who used their aspect hustles to fund their actual property enterprise. So in the present day we’ve received Ava Yuergens and Josh Janus to return again and speak about their aspect hustles and the way they use that to gas their actual property enterprise.

Ashley:
Then on the finish of the episode, we type of break down three completely different criterias that we’ve set as to the way to weigh out these two aspect hustles. And the primary one is upfront capital, earnings potential, after which passiveness, what’s the time dedication. After which we type of threw in a fourth one there too as to, what’s the danger? How a lot cash might you lose on this? So be sure you guys pay attention all over and type of examine these out. Possibly certainly one of these aspect hustles might be nice for you, guys. Be sure to go away a assessment on YouTube or wherever it’s possible you’ll be listening and tell us in the event you like these Facet Hustle episodes. I believe they’re nice for everybody listening, but in addition when you’ve got children and also you need them to begin earning money one way or the other, this can be an ideal episode to have them hearken to.

Tony:
Yeah. And actually, that was a part of how this complete episode got here to be, was as a result of my son’s 15 and he’s making an attempt to avoid wasting up for his automotive proper now and he’s debating on these completely different aspect hustle concepts and we thought it’d be cool to listen to firsthand from of us. So possibly we’ll get my son Shawn in certainly one of these episodes sooner or later as effectively so he can interview some of us firsthand.
However just some fast housekeeping issues earlier than we leap into Josh and Ava’s episode. In case you guys can head over to biggerpockets.com/reply, we’ve received a brand new touchdown web page up the place you possibly can submit your questions for the Actual Property Rookie Reply episodes. We’d love to listen to from our Rookie viewers. It’s certainly one of our favourite varieties of episodes to do, is to listen to from y’all and reply your questions instantly.
And second, I received to offer a shout-out to somebody by the username of Nico and Casey. They left us a extremely heartfelt five-star assessment on Apple Podcasts. The title of their assessment is My Lighthouse within the Storm. It’s a really deep and touching title, however Nico and Casey say, “There’s a lot recommendation on the market. Most of it’s contradictory for actual property investing that it feels such as you’re being tossed about within the ocean throughout a storm. There appears to be danger and the potential for dropping massive sums of cash regardless of the place you determined to go. Worst of all, you are feeling such as you had been in it alone. BiggerPockets and notably the Actual Property Rookie Podcast has been my guiding mild. Your recommendation is sound and the company you interview remind me that anybody can begin this journey. I haven’t closed on my first deal but, however I’ve been making many connections out and in of state, and it’s solely a matter of time. Sustain the nice work.”
Nico and Casey, most likely certainly one of my favourite evaluations I’ve learn as of late. We respect that. For all of our Rookies which might be listening, in the event you haven’t but, please do go away us an trustworthy score assessment on no matter platform it’s you’re listening to. The extra evaluations we get, the extra of us we are able to attain. And extra of us who attain, extra of us we may also help.

Ashley:
Ava and Josh, welcome to the present. Thanks a lot for taking the time in the present day to show us about your aspect hustles. I wish to begin off with you guys telling everybody a bit bit about your self. Ava, we’ve had you earlier than on the Rookie Podcast. Josh, you had been on the podcast with David for the BiggerPockets Podcast. So let’s leap in with you. Ava, are you able to begin off with telling us just a bit bit about your self and what aspect hustle you’re going to be educating us in the present day?

Ava:
Yeah. So hello, my identify’s Ava Yuergens. I began an actual property investing firm once I was 15 with my now fiance, Ben. We had been in a position to purchase 900K in residential actual property earlier than I graduated highschool. And now, mainly we had been in a position to purchase quite a lot of actual property due to this aspect hustle known as sofa flipping, which we’ll speak extra about in the present day.

Ashley:
And Josh, what about you?

Josh:
Hey, I’m Josh Janus. I’m 22. I’m an actual property agent and investor based mostly in Cleveland, Columbus, Ohio. Mainly I used to be DoorDashing as I’ll speak about later in faculty, probably not figuring out what my journey was going to be. I used to be listening to the BiggerPockets Podcast and listening to all their instructional materials concerning funds and actual property, and that led into the place I’m in the present day.

Ashley:
So Ava, you had been on episode 271 of the Rookie Podcast and Josh was on episode 749 of the Actual Property Podcast. So thanks guys a lot for coming again. We wish to break down these aspect hustles so on the finish of this episode, somebody listening can exit and replicate what you guys did or possibly one thing very comparable. So Josh, how did you even hear about your aspect hustle and doing DoorDash?

Josh:
Yeah, I didn’t actually wish to work a conventional job. I needed to work a job the place I might possibly hearken to podcasts or audiobooks or do one thing whereas working to attempt to enhance my total training. So I used to be simply type of Googling what might you do. I had a automotive, I had some cash saved up, however I didn’t have something explicit. I believe some Uber Eats adverts popped up. I used to be like, “Oh, possibly I’ll strive that out.”

Tony:
Josh, it’s such a bizarre world that we stay in now. My spouse and I, we’re infamous for not cooking. 90% of the meals that we eat will get delivered by another person. So both we’re Instacart-ing from the grocery retailer or we’re doing DoorDash or all these different issues. So it’s cool that there’s aspect hustles on the market that individuals can use by that type of stuff. So that you hear about DoorDash. I imply, how outdated had been you on the time once you began?

Josh:
18 or 19.

Tony:
I imply, as an 18 or 19 yr outdated, was there any hesitation about driving round your native metropolis delivering meals to strangers? I believe for lots of people, that is likely to be a part of the hesitation round DoorDash. I is likely to be getting forward of myself, however simply, I don’t know, all of the interplay with strangers, was {that a} concern for you in any respect?

Josh:
Yeah, I imply a bit bit. Simply navigating, like determining the place to go. Some individuals’s condo complexes or constructing preparations might be sophisticated to someone that isn’t skilled to it, I suppose. So which may make individuals nervous.

Tony:
So let me ask this, man. Who do you are feeling is the best particular person to take up the aspect hustle? What are a number of the expertise or traits or instruments that somebody must be profitable doing this?

Josh:
I believe it’s someone that’s self-driven since you actually solely receives a commission for as a lot as you’re employed. However on the similar time, you will be actually versatile with it. You don’t need to do it a set variety of hours or set variety of days. There’s all the time these commercials speaking about it, nevertheless it’s true, you possibly can set your personal schedule.

Ashley:
And Josh, what made this a great match for you? Was it the schedule or was it one thing else that basically enticed you as to that is one thing you needed to do?

Josh:
For certain. It was positively the scheduling as a result of I had lessons in the course of the day and I needed to search out one thing that I might generate income with after faculty or typically, between 5:00 and 9:00. I don’t wish to be out too late. After which I additionally needed to have the ability to both hearken to books, audiobooks, podcasts, et cetera. And this job lets you do that nearly your complete time.

Ashley:
Josh, are you able to simply clarify how it’s versatile? How are you setting your personal schedule? Is there an app you’re going into and placing in once you’re out there to work? Do you need to set it forward of time? Are you able to simply give us the glimpse as to how precisely you’re setting your personal schedule?

Josh:
So sure markets, you’ll really need to set your schedule upfront as a result of it’s aggressive. Wherever hours was working, you possibly can simply go surfing and begin working and also you don’t actually have to inform anyone once you’re going to do it. So it’s type of the last word stage of freedom.

Tony:
Josh, this isn’t essentially concerning the aspect hustle, however you talked so much about eager to have the liberty to hearken to podcasts and all this different stuff. Simply out of curiosity since you mentioned you had been 18, 19 on the time, what sparked that preliminary curiosity for you?

Josh:
Yeah, I’ve all the time been type of entrepreneurial. I made duct tape wallets, bought footwear, bought digital foreign money. I type of had some cash saved up and I didn’t actually know the place to take that, however I figured if I simply saved jamming info in my head, finally I’d determine one thing out.

Tony:
I really like that, man. We received to have each you and Ava again as a result of I do know each of you guys have a number of aspect homes that you simply’ve tried. Subsequent query for you, Josh, what was the price of entry? What had been the startup prices so that you can get the aspect hustle rolling?

Josh:
If in case you have a automotive that’s inside the final 10 years, I consider that’s their steering. And you’ve got a sound driver’s license and you’ve got sufficient cash to pay for fuel to start with, that’s actually all you want. You possibly can borrow someone else’s automotive and lease it, however yeah.

Ashley:
I didn’t notice that you simply wanted to have a automotive inside the previous 10 years. Is that simply because they need your automotive to be dependable in order that the meals is definitely getting delivered and there’s much less danger of breaking down?

Josh:
Sure.

Ashley:
Okay.

Josh:
Yeah, I had a pair, one or two flat tires they really would help in paying for, which is type of useful.

Tony:
I used to be going to ask, as a result of I do know I’ve heard Uber, I’ve been in Ubers earlier than the place the driving force says, “Oh, this isn’t even my automotive. I’m renting this automotive from Uber.” And Uber will lease you a automotive. They deal with all the upkeep and the service. So only for anybody else that’s considering of… Even in the event you don’t have a automotive, a few of these gig based mostly issues will really offer you a car and then you definately simply need to do the work of truly driving it round.

Ashley:
Yeah. And Josh, you talked about proper there that they helped you together with your tires. Did they provide you cash once you received flat tires? Or how did they help you with that?

Josh:
I consider they did credit score me for a flat tire they usually additionally paid me for what I’d’ve made if I accomplished the supply. I believe it was each. I might be mistaken, however…

Ashley:
Oh, that’s fascinating. Okay. So Josh, you’ve began your gig. Have been there every other type of startup prices in addition to having a car and having to spend cash on fuel?

Josh:
In case you purchase a magnetic factor to place in your automotive by your entrance windshield, that’s very useful. So that you’re not always wanting down, a great set of headphones, have some snacks, have some water in your automotive, and simply be prepared to simply stay in your automotive for a pair hours a day.

Tony:
Mainly, Josh, it sounds just like the startup value for this are comparatively nothing, proper? Most individuals have already got a car. Most individuals have already got what they should get began. So if I needed to proper now, I might most likely begin earning money with this aspect hustle tonight if I needed to?

Josh:
Yeah. The precise registration enroll was a pair days.

Ashley:
Okay. After which Josh, as soon as you bought going, how lengthy was it? So since that preliminary day you began the signup course of, how lengthy till you really made your first greenback?

Josh:
I made cash on the primary supply. So that you generate income immediately. You receives a commission out as soon as every week, so that you wait a pair days to truly get it. However you’ll want to study what is an efficient supply to take and what isn’t. So ensuring persons are tipping you and issues like that. However actually you receives a commission from day one.

Ashley:
Yeah. How do you inform what is an efficient supply or a nasty supply? I didn’t even know that there was really a distinction.

Josh:
Oh, yeah. I imply there’s Door Dashers making $10 an hour after which there’s different ones making 40 or 50 as a result of you need to learn the way like… You don’t wish to drive 10 miles delivering $20 in meals and also you make a $2 tip and it takes you an hour spherical journey. However possibly you drive 10 minutes there, 10 minutes again and also you make $9 and also you waited 5, 10 minutes on the retailer. That’s so much higher utilization of your time. So I believe DoorDash actually lets you study the worth of time as effectively.

Ashley:
So can you see? Like when an order is available in, can you see all of that info as to what the tip might be, the place the meals is that you simply’re selecting up, the place you’re dropping off?

Josh:
You’ll see the place it’s and also you’ll see the place it’s going. They disguise the information. You possibly can go on Reddit and different boards and determine how they disguise it and study it. However for probably the most half, it’s very clear. And really, each single supply is like its personal impartial contract. So you possibly can both settle for it or deny it and get one other one offered to you.

Ashley:
Oh, so even after once you settle for it, you possibly can see all the data after which you possibly can return and cancel it after which go and take one other one?

Josh:
Yeah.

Ashley:
Oh, okay.

Tony:
Does DoorDash enable you optimize your routes as you’re going by this? Since you talked about ensuring that you simply’re getting the very best return in your time. Does it have a routing performance that claims, “In case you’re selecting up a number of deliveries, go right here, then right here, then drop off on this sequence”? Or do you need to determine that out your self?

Josh:
It does do this, yeah. In case you’re in an space, in the event you’re in a metropolis or someplace busy, it really works very well. In case you’re type of doing it in the course of nowhere a bit bit I used to be doing, it’s not as nice, however yeah.

Tony:
That’s fairly cool. Ash, I don’t suppose I’ve ever shared this with you earlier than both, however I’ve such a colourful historical past. However once I was in faculty, me and my associates had a startup and it was known as Tumee, T-U-M-E-E. And this was earlier than DoorDash and Uber Eats actually blew up. They had been simply early part startups and we had been making an attempt to primarily be the kayak for deliveries. So in the event you went to Tumee, you’d put in what you needed after which it might provide the finest worth between DoorDash, Postmates, and regardless of the different apps had been on the time. We by no means actually received off the bottom. We had a extremely cool wanting app the place we couldn’t get funding. However I don’t know, simply tidbit so that you can know extra about Tony’s historical past.

Ashley:
Yeah, all the time having you shock us with all these ventures or jobs or completely different stuff you did.

Tony:
All proper, Josh, so subsequent query for you right here, brother. And this is likely to be a foolish query, however how many individuals are in your staff to do that DoorDash factor? Are you all the time by your self? Are you tag teaming with a buddy? What does that appear like?

Josh:
I had a pal that did it together with me, so we might be on calls generally. However the best way to that I grew it was I began to make use of a number of apps on the similar time. After which as soon as I received the dangle of that, I really used a number of telephones to get completely different orders. And also you attempt to line the whole lot up. You don’t wish to have individuals wait too lengthy for his or her meals. You bought to be strategic with it. However in the event you do it proper, you are able to do fairly effectively with it.

Tony:
Wait, so stroll me by why you want a number of telephones. Why can’t you do all of it with one cellphone?

Josh:
Since you might doubtlessly get two comparable supply requests on two completely different accounts that possibly one home is 2 miles away from the opposite and also you wouldn’t essentially get each of these requests on the similar time on the primary cellphone. So you possibly can type of stack deliveries that means.

Ashley:
So it’s nearly such as you’re two individuals then? You’re signed in on beneath completely different logins to the app?

Josh:
Yeah, you’re primarily two individuals. Yep.

Tony:
So what’s probably the most variety of telephones you’ve been logged into at one time? You bought 5 telephones that you simply’re working round with doing-

Josh:
No, that that’d be fairly chaotic. Simply two. I believe I’ve had six completely different deliveries on my automotive as soon as. I believe that was my max.

Ashley:
Properly, all I might take into consideration is that tune. I received two telephones. One for the [inaudible 00:16:10].

Tony:
Yeah.

Ashley:
Okay. Properly superior, Josh. We simply wish to type of dive in and get the background info on DoorDash. And now we’re going to show it over to Ava. So Ava, how did you hear concerning the aspect hustle that you simply selected?

Ava:
We discovered sofa flipping simply because we searched up on YouTube, simply aspect hustle concepts and sofa flipping simply appeared like probably the most intriguing one.

Tony:
Simply, Ava, I believe everybody understands what DoorDash and Postmates are, however for people that possibly haven’t heard of sofa flipping earlier than, are you able to simply even outline what which means? What does it imply to flip a sofa?

Ava:
Yeah, I’ll simply go step-by-step. So step one is you go on apps like Fb Market OfferUp. And then you definately search for couches that persons are promoting which might be simply underpriced or possibly want a clear and you could possibly promote it for increased. However then you definately mainly simply make your supply. You possibly can low ball it identical to actual property. And also you get the sofa, you possibly can clear it or if it doesn’t want cleansing, you simply go away it as it’s. However then you definately take actually good footage and then you definately add it again on these apps for only a increased worth.

Tony:
So that you’re actually nearly like flipping a home, however you’re flipping a sofa. You’re flipping furnishings that individuals have. That’s wild. So who is that this aspect hustle for? What are a number of the expertise or traits you’ll want to achieve success with sofa flipping?

Ava:
I’d say type of like DoorDash, you determine what couches are going to be probably the most worthwhile and what ones simply aren’t price your time. I’d say it’s not essentially a ability, it’s simply one thing you study over time. However I’d say you do must have some muscle, have some meat in your bones as a result of couches are actually heavy, so that you positively want to have the ability to carry it up. However I’ll say you are able to do it with only one particular person. You possibly can both get the proprietor of the sofa that can assist you really get it into your car. Or there’s a aspect type of hack. You simply put one find yourself on like when you’ve got a truck, you place it within the truck mattress and then you definately go round on the opposite aspect and carry the opposite finish and simply push it in. So it’s potential to do it with only one particular person, however you simply received to be sturdy.

Tony:
So simply on the ability aspect piece, so Josh talked about how with DoorDash you bought to be sensible about which deliveries you are taking and which of them you denied and just remember to’re maximizing your time and maximizing your income. How do you get good at analyzing a sofa? How have you learnt like, “Okay, that is how a lot this sofa goes to make once I resell it on the again finish”?

Ava:
Yeah. So over time you’ll notice which couches promote the quickest. The place I stay personally, everybody loves a great enormous grey sectional. I don’t know what it’s, however I imply I suppose they’re fashionable they usually’re fairly. So we all the time know if we are able to discover a grey sectional for 200 bucks, we might most likely promote it for 1,200 if it’s good high quality, if it’s large. So you’ll study over time which couches promote the very best. It’s completely different in every market, however for me personally and for lots of different completely different locations within the US, grey sectionals do very well. After which it’s also possible to have a look at how distant is that this sofa. Is it in your metropolis? Is it within the metropolis over? So drive time. I imply, additionally simply if you need to clear up the sofa, take that into consideration as a result of to wash up a sofa, it might take wherever from 10 minutes to an hour.

Ashley:
For that you recognize the truth that the grey sectionals go nice, within the very starting, how did you do your market analysis as to what sort of couches you needed to purchase? Was it trial and error? Have been you going up and seeing what issues had been promoting for on Fb Market or OfferUp? How did you study what couches go for and what the true worth is?

Ava:
Yeah, so such as you talked about, we noticed that, for instance, grey sectionals, they had been promoting actually quick the place we stay. And in addition we watched quite a lot of YouTube movies and we knew that this one man who sofa flipped a ton, he simply did sectionals as a result of they had been so good. So we tried to stay to simply sectionals. After which additionally a few of it’s simply self-explanatory. Clearly, you don’t wish to get a leather-based sectional that’s ripping throughout, in order that’s one thing you possibly can’t repair. So I suppose it was quite a lot of trial and error, but in addition some technique that you simply simply type of study over time.

Ashley:
And once you had been watching these YouTube movies and also you discovered this sofa flipping on-line, what made you determine that this was going to be a great match for you?

Ava:
Primarily simply because my fiancee Ben, he had a truck and he’s sturdy. So yeah, I imply, I received’t take full credit score, he was just about the entire driver of it. And in addition simply it was very enticing as a result of it might make some huge cash. I imply, you’re making wherever from on common 200 to $700 an hour. So it’s an ideal return on time.

Tony:
After which Ava, what’s the price of entry? If I needed to get began sofa flipping in the present day, what sort of capital do I must put as much as get began?

Ava:
So you will get couches without spending a dime or 100 bucks? What we did for our first one is we received it without spending a dime and we already had the truck so it didn’t value something. However in the event you don’t have a truck, that is the place it could get expensive simply since you want to have the ability to have a automotive that’s really going to suit a sofa as a result of couches are enormous. You bought to have a way of transportation. The one means you possibly can work round not having a truck is borrowing somebody, like in case your grandparents have it, your family, any associates or renting one or possibly having the individuals ship the sofa to you. However I imply there’s a pair methods round it, however I’d say having a truck is fairly vital.

Tony:
I didn’t even notice. So that you’re saying, Ava, that at occasions you’d discover couches that individuals had been gifting away without spending a dime after which clear them up and switch round and promote. So your preliminary capital funding can be zero on these couches, is that what you’re saying?

Ava:
Yeah. And a few individuals like that we received them without spending a dime, they’d be actually upset as a result of generally individuals will message you after they usually’re like, “That is my sofa.” However yeah, you possibly can really do it and get them without spending a dime.

Ashley:
There most likely are individuals although that simply wish to eliminate it they usually’ll give it without spending a dime simply to have someone haul it off of their property so that they don’t need to eliminate it. The place I stay, there’s like a city dump they usually have trash day each on occasion the place you possibly can convey home equipment, issues like that, and you need to load up the trailer of all of the stuff after which drive it there and take it to the dump. I might see if individuals don’t have a truck, they don’t have a trailer, they actually don’t have any means of getting it there, plus it’s an inconvenience to need to drive there. So I might positively see the worth of discovering these people who simply don’t wish to eliminate the sofa themselves, that they’re keen to offer it away, simply have someone haul it.

Tony:
I opened up Fb Market on my cellphone whilst you’re speaking Ash, and the very first sofa that confirmed up says free. The very first sofa on Fb Market is free. So there you go. I by no means even would’ve considered that.

Ava:
Yeah, generally they’re free when both they’re simply actually dangerous or they want a great clear or possibly they want similar day pickup or one thing like that. And in addition we’ve been in a position to get couches without spending a dime by… It’s identical to actual property. Like a quick shut, you will get a reduction. Similar with couches. You’re like, “Similar day pickup? Oh, that’s like 100 bucks off.” So yeah, it’s actually identical to actual property.

Ashley:
Let’s go into the type of that negotiating a bit bit, as a result of with DoorDash you actually can’t negotiate. You’re just about instructed what the fee is. However so far as negotiating couches, what are a few of your ways for that?

Ava:
Yeah, so like I simply talked about, similar day pickup is big. Individuals simply normally after they submit it, they only wish to eliminate it. So similar day pickup’s an ideal one, and you will get a pair hundred off for that in the event you’re fortunate. Often it’s like 50. Additionally, you possibly can simply possibly bid in opposition to different individuals. In the summertime is once you’ll normally get in bidding wars as a result of everybody’s searching for new furnishings. And clearly, shopping for a brand new sofa, you’re paying a pair thousand. After which on Fb Market you will get it for a pair hundred. So lots of people purchase couches on there. Negotiation, there’s some, nevertheless it’s just about slim to none. However a technique you really can get more cash out of individuals after they’re shopping for it’s providing supply as a result of once more, everybody has a truck, so how are they going to get it to their property? So if we ship, we’re in a position to up the acquisition worth by 50 to 100.

Ashley:
So alongside together with your startup value, once you take these couches, it’s normally you’re most likely not promoting them similar day. So do you’ve a storage unit that you simply’re paying for? Or the place do you retailer the couches till you’re really in a position to promote them once more?

Ava:
That’s really a extremely good query. So since we began this once we had been 16, we had been nonetheless in my dad and mom’ home, so we might simply put all of the couches in my parking spot and I simply park outdoors. However then my dad and mom simply received, they’re like, “I’m uninterested in these couches in my storage.” As a result of in addition they, generally, they only have a stench of somebody’s house, even when it’s not dangerous, it’s simply… I don’t know. In order that they needed them out. So finally we did get a storage unit. I consider our storage unit is a few hundred one thing a month. However you possibly can match a bunch of couches in ours. It’s like ours isn’t very large, however we simply stack couches on prime of one another.

Ashley:
After which do you supply supply or do you’ve individuals simply come proper to the storage unit and choose it up?

Ava:
Yeah, so it simply relies on how distant they’re. In the event that they’re tremendous distant they usually ask for supply an hour away, we normally received’t do it except we’re really getting a great worth for it. But when they’re shut they usually really want supply to ensure that it to shut, then we’ll go forward and ship it for them.

Ashley:
So with all of this sofa flipping, what was the rationale that you simply needed to make this more money anyhow?

Ava:
Yeah. So once more, since we had been making a pair hundred {dollars} an hour, it was an effective way to ensure that us to make some huge cash as simply younger individuals in an effort to spend money on actual property. I talked about this on my episode a bit bit, however for our first funding we did a 50/50 partnership break up with my dad and mom. And in the event you add up the down fee, closing prices after which any restore prices, and then you definately break up that in half, my dad and mom paid half after which we paid the opposite half after which we paid our half with all our sofa flip cash.

Tony:
Yeah. So that you actually use your sofa flipping enterprise to fund your first actual property buy, which is the entire goal of this episode is to indicate our listeners what’s potential once you get an honest aspect hustle so that may generate some income. So let’s return to that first sofa, Ava. You mentioned that you simply received that first sofa without spending a dime. How lengthy did it take after you bought that sofa to truly get your a reimbursement from promoting it?

Ava:
So it did promote similar day after which we delivered it the day after. However we received it without spending a dime. And once more, with the ability over time, you notice what you possibly can really worth it, however we simply needed to ensure we bought it. So we put it up for possibly 200. And so forth our first one, we received $200.

Tony:
Simply transactionally, what are you utilizing to get the cash? You simply promote Venmo or are you sending PayPal invoices or one thing?

Ava:
Often it’s simply Venmo after which generally simply money.

Ashley:
So once you did that first transaction, how a lot time did you really put into it with selecting up that free sofa, delivering it? Did you need to clear it in any respect? How a lot did you make hourly for that first $200?

Ava:
So on our first sofa we did clear it. I’d say it was about an hour and a half price of labor as a result of it wasn’t too distant. So we simply needed to choose it up, clear it, take footage. After which really one thing I do wish to point out, once more, with the ability is over time you’ll notice the way to promote it within the description. It’s only a itemizing for a home. You bought to speak about it within the itemizing, be sure you make clear issues like colours. After which additionally all the time embody measurements like top, width, and size, as a result of persons are all the time going to ask and it’s only a ache to go remeasure it. So all the time measure it, put these within the description. However I’d say all in all, because it was our first one, it took a bit longer, so possibly one and a half to 2 hours.

Tony:
Out of curiosity, Ava, have you ever discovered one platform being higher than the others to listing your couches? Do you get extra curiosity on Fb Market or are you on OfferUp? What are all of the platforms that you simply’re on and which one has been the very best one for you?

Ava:
Yeah, so I all the time say you are able to do it on OfferUp and Craigslist as effectively, however we’ve solely ever used Fb Market as a result of it’s the very best for promoting and shopping for.

Tony:
All proper. So final query right here earlier than we type of change gears. You talked about you and your fiance, however is there anybody outdoors of the 2 of you? How many individuals do you’ll want to make the aspect hustle of sofa flipping a practical aim for individuals?

Ava:
Only for our finish, it is only one or two individuals. However in fact you want people who find themselves really promoting their couches. However simply to truly do it, you simply want your self. Clearly it’s going to be simpler to carry a sofa with two individuals, so preserve that in thoughts. However yeah, you are able to do it by your self.

Ashley:
Superior, Ava, thanks a lot for sharing the beginning of your aspect hustle. Now we have some extra questions for you, guys. So Josh, let’s return to you. Are you able to recount a loopy second? Possibly it was an interplay with the shopper, an enormous order you had, or possibly one thing went mistaken. Are you able to type of give us that leisure?

Josh:
Yeah, it was… I don’t know. It was 2:00 PM on a Tuesday or one thing, like center of a workday, and I used to be delivering Taco Bell to this home that had an enormous gate. So I had the code and I received by the gate and it was 1 / 4 mile driveway on this enormous home with like… It had a Lamborghini and a Rolls-Royce within the driveway. It was absurd. I used to be like, “Why are you guys ordering Taco Bell?” I don’t know. I believed it actually humorous.

Tony:
what you need to have did Josh? Have you ever seen these movies the place it’s the individuals going as much as millionaires houses and saying, “Hey, what do you do for a residing?” Did you get to ask that query?

Josh:
I want that was occurring once I was doing this as a result of I might have simply executed that additionally. After which possibly you had two companies going.

Tony:
There you go, man. That may’ve been been a extremely good concept. Oh, I really like that. So that you by no means had anybody that was like, I don’t know, belligerent or drunk or simply something loopy like that the place you had been fearful for the place the state of affairs may go?

Josh:
Fortunately, the vast majority of what I used to be doing was throughout COVID, so really I didn’t meet too many individuals, however I’m certain there are some humorous tales on the market about that.

Tony:
Ava, what about you? Flipping couches, assembly up with individuals, any loopy tales about both who you bought to, who you obtain from, something in between?

Ava:
Yeah, so there’s the small issues the place couches have, like we’ve been lifting them they usually simply fall down the steps. Or one time, really a pair weeks in the past, we had been lifting one after which abruptly we had been going out the door and their cat simply jumped proper out of the sofa. However there’s this… Yeah, so we nearly took their cat. However there was this one time we had been going into town downtown. I don’t know, it was type of this sketchy space. The neighbor’s home… We had been going into the home to get the sofa, however then the neighbor, I don’t know what they had been doing, however they had been on the porch after which abruptly we made eye contact and he pulls up his AR, not pointing at me, however he simply pulls up and simply present it. We simply sprinted to the automotive and left. Actually, I simply couldn’t. However yeah, these are the loopy tales I can consider proper off the highest of my head.

Tony:
Yeah, I suppose getting a gun pulled on you is [inaudible 00:31:27].

Ava:
Yeah.

Ashley:
And that’s the one factor we didn’t speak about with both of them is pulling as much as strangers homes. And particularly Eva, in the event you’re going into the homes to get couches, what are some methods to type of shield your self? I do know at this one property that I’m at proper now the place I’ve been working so much, we’ll order groceries right here as a result of we’ve a full kitchen and the whole lot. It’s simply this very random filth highway that Josh says goes again 1 / 4 of a mile, however that is all filth and the property’s overgrown. There’s like a haunted home wanting issues on the finish. might inform they’re undecided in the event that they’re in the proper place. So how do each of you navigate as to love are there sure areas you received’t ship to Josh, or Ava you received’t choose up couches from?

Ava:
For me personally, Ben’s… Properly, he all the time says this, Ben’s a extremely good wrestler, so he’s like, “I’ll be advantageous. I’ll beat him up. Don’t fear.” So I’m all the time with Ben once I do it. However he went to state yearly. He’s good, so I’m okay.

Ashley:
And Josh, what about you?

Tony:
Yeah, is there ever a DoorDash you’re like, “No, I’m not selecting that one up. I’m not going there.”

Josh:
I’d make the most of the information as a means of judging the realm. So if I’m delivering $60 in meals and also you’re giving me $2, it’s like I’m most likely not going to go over there.

Tony:
That’s fascinating. I don’t even suppose I ever seen what the tip is as a result of DoorDash simply has a default tip quantity. I don’t suppose I’ve ever modified that. However now listening to from a DoorDasher, I would must pay extra consideration to that to be sure that I’m getting my fruit delivered shortly, proper? As a result of can you modify your tip quantity on DoorDash after you’ve submitted your order?

Josh:
You possibly can change it after. I’ve had each generally like I can’t open up the meals, I don’t know really what’s in there. And other people can be like, “Oh, they put onions” or one thing on the meals after which they’d take half their tip away and it’s like, “Dude, I had nothing to do with that.”

Tony:
Wow, I didn’t know that. I didn’t know that. All proper. Let’s go to our subsequent query right here. What about longevity, simply when it comes to how sustainable the aspect hustle is? So Josh, let’s begin with you, man. I imply how sustainable or how… I don’t know, I suppose how lengthy do you are feeling you could possibly sustain doing DoorDash as a aspect hustle?

Josh:
I believe it pairs very well with a W2 job or one thing the place you possibly can work at evening or possibly you’ll work on a Tuesday or a Saturday morning. I believe it’s sustainable so long as you wish to do it.

Ashley:
And Eva, what about you for sofa flipping? I’d suppose that possibly lifting couches might take a toll in your again finally, however what would you say the longevity is for doing sofa flipping?

Ava:
Yeah, I’d say you possibly can damage your again, so you bought to watch out. However so long as you’re match sufficient and you’ll carry heavy objects. And in addition, I suppose if we’re speaking about when you’ve got a job whereas doing this, quite a lot of the occasions the one draw back about sofa flipping actually is it’s probably not by yourself time. It’s each time a great sofa pops up as a result of they’re not on there 24/7 on a regular basis, as a result of clearly if it’s good, it’s going to go quick. So you need to be always your cellphone, refreshing the web page in orders to textual content the particular person immediately like, “Oh, I need this sofa.” So pairing with the W2 job, I imply you possibly can solely take so many toilet breaks, so I don’t know. However I’d say it’s good for the weekends and stuff. However yeah, longevity smart, so long as you’re good with lifting heavy objects, you are able to do it so long as you need.

Ashley:
And Ava, if I bear in mind appropriately, you’ve a bunch of digital assistants in your different enterprise. However for a aspect hustle, do you suppose you could possibly rent a digital assistant to mainly simply comb by listings daily or have them set alerts and the place you’re not even having to fret about logging in and checking for all these listings?

Ava:
Positively. I positively suppose you possibly can as a result of in the event you simply plug within the location, anybody can do it from wherever. So for certain.

Tony:
Man, now my head’s spinning. Might I construct a sofa flipping empire the place I’ve VAs throughout each single-

Ava:
Individuals do. Individuals have enormous warehouses and purchase them at wholesale. It’s loopy. It is best to simply look it up on YouTube.

Tony:
Properly, I suppose that leads into my subsequent query. And Ava, I’ll begin with you on this one when it comes to consistency of earnings, since you mentioned individuals aren’t posting couches all day daily. So I suppose what number of couches might you flip in a month? What’s the common quantity that somebody might anticipate to do? Am I flipping a sofa daily? Is it as soon as every week? What does that appear like?

Ava:
I’d say it relies on… Clearly in spring and summer time, persons are shifting, so it’s extra widespread. However on common, I’d say in the event you’re constant and devoted, you could possibly do wherever from two to 5 every week. So simply from a earnings perspective additionally you could possibly do much less couches, however simply increase the worth increased, simply all that type of stuff. However we had been making about 10 grand a month with sofa flipping, particularly in the course of the summer time once we didn’t have faculty.

Tony:
Yeah. And gosh, so 10 grand a month, what number of couches is that, like ballpark?

Ava:
I’m considering like 10 to twenty. 10 to twenty, okay. I’m going to say 10 to twenty.

Tony:
Yeah. Wow, that’s quite a lot of couches in a month. 15 couches a month, that’s like a sofa each different day. That’s quite a lot of quantity. I didn’t notice there have been that many couches on the market. I’m wondering if it’s considerably market dependent.

Ava:
It’s.

Tony:
Such as you most likely need to be in an even bigger type of metropolis to get that type of quantity. Whereas in the event you’re in a extra rural or distant space, the amount of couches is likely to be smaller. Like each home in your neighborhood is on acres and acres. So the density simply isn’t the identical as mine the place I can see my neighbor’s home out my window proper now. So I’m wondering what that appears like.

Ava:
Yeah, I agree. It’s actually market particular as a result of we stay proper outdoors Milwaukee, so there’s quite a lot of couches on the market on a regular basis.

Ashley:
Josh, what does your earnings appear like on a nasty month, a great month, and the way lengthy are you really spending time driving and what number of deliveries on common would you say?

Josh:
Yeah, once you begin out, you’ll want to study what orders are good to take and what aren’t. So you possibly can most likely be round $15 an hour, possibly 20 to start with. However as you type of choose up the tempo, you study when to go. The warmer hour’s throughout lunch and dinner, particularly extra on the weekends versus weekdays. I imply, you possibly can push 40 to $50 an hour fairly constantly. In fact it’s market dependent. I type of did it in an space the place there have been three most important procuring facilities with 5 to 10 eating places at every, and I type of simply cycled by these. However it’s type of most likely averages round 30.

Tony:
So Josh, you mentioned you’d cycle by the identical eating places. So had been you associates with the individuals on the native Johnny Carino’s as a result of they noticed Josh coming in each different day? Or was it a number of deliveries from the identical restaurant every day? What’s the frequency at one location?

Josh:
Yeah, I imply, you could possibly most likely do 10 to fifteen at one restaurant and nearly simply be their supply particular person throughout your complete day. And bonus, you really, in the event you begin to make associates, they gives you the meals that no one picks up and you will get a bunch of free lunch and dinner. I imply, I had nearly each single main meal lined without spending a dime.

Ashley:
That’s one other value saving tip there to save cash not having to pay for meals in your meals. Properly, that’s superior guys. I wish to convey you guys each in to do a gaggle dialogue right here and possibly you guys have questions for one another too in your aspect hustles. However wanting again, is there one thing you’d’ve executed otherwise to make your aspect hustle possibly extra worthwhile, possibly extra passive or environment friendly? Ava, let’s begin with you.

Ava:
Yeah, so I’d most likely say that now we go… We set a sure profitability aim. For instance now, if a sofa isn’t going to make us 500 inside the hour, we’ll most likely not get it simply because we’ve our different companies now. So yeah, we’ve a aim. However now on common our couches make wherever from 500 to 1,000 for each one to 2 hours as a result of that’s how lengthy it takes to flip a sofa.
However I’d say I want sooner I’d’ve simply gone for the larger fish as a result of at first when a sofa was priced at $400, it might type of be scary to purchase. However now figuring out what I do know, I want I’d’ve purchased a few of these couches as a result of if it’s a grey sectional and it’s priced for 400, effectively you could possibly promote that for over 1,000. So that you’re nonetheless making an enormous chunk of cash. However I used to be simply scared as a result of it was simply some huge cash once I was used to getting couches without spending a dime. So I say one thing I want I knew sooner or now I do know is simply you don’t need to be afraid of the larger worth couches simply because they’re increased priced. It’s the identical as flipping a million-dollar home and promoting it for a pair extra million.

Tony:
Ava, did you ever lose cash on a sofa?

Ava:
Sure, we’ve. Now we have damaged even earlier than. A variety of the occasions it’s as a result of we had been 16 and actually nervous. So when the images regarded actually good and we might go to the home, we’d be scared to say, “Oh, nevermind, I received’t need it anymore.” So we might simply take it, which finally we realized to be like, “No.” However yeah, so we’ve. These clearly are majority of the occasions, that’s once we’ve damaged even and even misplaced 100 {dollars} or one thing. However dropping cash on a sofa flip, it’s very uncommon, nevertheless it does occur.

Tony:
Josh, I’m wondering for you, have you ever ever misplaced cash on doing DoorDash? In case you regarded up your week and possibly what you spent on fuel, it didn’t equate to what you really made in the course of the deliveries. Has that ever occurred?

Josh:
No, I wouldn’t lose cash that means, however generally you’d expect a money tip. Like this one supply, I drove nearly an hour away from the shop and it was catering. It was $350 in meals. I went of their home and I put all of it… I set all of it up for his or her household, and I didn’t get a single greenback tip and I used to be actually aggravated. So there goes two hours of time for 10 bucks.

Ashley:
Yeah, I suppose that’s like the way you lose cash is that your hourly charge goes down considerably. So it turns into to the purpose the place it’s not price your time, although you’re not bodily dropping cash, however you’re dropping your time and it’s not definitely worth the worth. Okay, so do you guys have any questions for one another earlier than we type of shut this out?

Ava:
I do. Do you’ve a DoorDash hacker secret that nobody else is aware of that you simply suppose it might be fascinating to share?

Josh:
They do catering now, so I’m undecided how to enroll. However in the event you might simply ship catering orders. And I do know one man that does it and he was doing very well. A number of apps. Individuals don’t actually do that fairly often. After which go on Reddit and attempt to study the information like how they disguise their ideas. I’m not going to elucidate it right here, however mainly you possibly can determine like, “Ooh, this one’s going to be over $12′ or one thing like that.

Tony:
Josh, I really feel like the 2 cellphone factor and having the ability to be in two telephones on a number of apps… As a result of what? There’s Postmates, there’s DoorDash, there’s Uber Eats, I suppose, do you’ve a favourite between these? Do you favor DoorDash or have you ever tried Uber Eats or Postmates?

Josh:
I most likely choose Uber Eats to be trustworthy. It’s so market dependent within the hours in the event you actually get within the weeds on it.

Tony:
Dude, I’m wondering in the event you might be an Uber driver who does Uber Eats and Uber on the similar time. So that you’re selecting up individuals, however then you definately’re like, ‘Hey, I received to cease by McDonald’s,” choose up this meal and then you definately drop off the meals in and the particular person. Superior. Josh, what about you Have any questions for Ava on the sofa flipping aspect?

Josh:
Positively, yeah. This is sort of a comply with up query after this. How usually do you see the identical sofa or one actually comparable?

Ava:
Once I’m shopping for them, simply how usually do I see a repeat sofa that I’ve seen earlier than?

Josh:
Yeah, I’m asking as a result of possibly you could possibly take clean or template photographs after which nearly pre-sell them.

Ava:
Now we have executed that.

Josh:
Good.

Ava:
Now we have executed that. Oh, we received in hassle although. So one time this one sofa, it went up on Fb Market and it was going loopy. Everybody needed it, however we received it first and we received it for a pair hundred bucks. We made a thousand {dollars} on this sofa. However earlier than we even received it, we simply uploaded the images as a result of it regarded grey within the footage, which individuals like, nevertheless it was inexperienced in particular person. This type of bizarre comfortable, inexperienced grey. However we put within the description it’s inexperienced. Don’t fear, I wouldn’t do this. However the footage that she took simply regarded so a lot better. So we simply uploaded them. Everybody, because it was so fashionable, individuals had been making an attempt to get it, everybody’s coming like, “Somebody already tried to submit this for tons of of {dollars} much less.” After which different individuals had been commenting, “Recognize the hustle child.” Yeah, however we’ve reposted the identical footage, however we haven’t ever used inventory photographs as a result of normally individuals suppose these are scams more often than not.

Tony:
Yeah, I wouldn’t take inventory photographs both. However yeah, I like the thought of like, “Hey, possibly earlier than you even get it, if it’s the identical sofa… If there’s an IKEA sofa that’s all the time promoting in your neighborhood, then simply having these photographs may work.”
Properly, Josh, Ava, each of you I believe have given a lot worth to the Rookie viewers when it comes to methods you can generate some further capital to fund your actual property enterprise. And like we mentioned on the prime of the present, each of you had been company on BiggerPockets Podcast. Ava, you had been episode 271. Josh, you had been 749 on the Actual Property present. So if anybody listening desires to return and get their full backstory, try these episodes.
However one ultimate query earlier than we let y’all go. Josh, we’ll begin with you after which Ava, we’ll go to you. But when somebody desires to begin your aspect hustle in the present day, give me the 30-second step-by-step sport plan of the way to get began if I wish to do it this afternoon.

Josh:
Ensure you have a automotive that’s dependable. Good tires. Good brakes. As soon as you bought that, join as many apps as you possibly can. Use an precise tackle. Use all the actual info and map out the place you’re going to attempt to deal with. In case you don’t know your native space very effectively, attempt to see the place all of the shops are and hit these areas up. After which possibly even take a day and type of drive and stroll by a number of the eating places and determine which of them appear to be working effectively and which of them aren’t. And attempt to deal with those which might be faster and simply get going.

Tony:
Ava, how about you?

Ava:
Obtain Fb Market. Ensure you have a truck or a truck you possibly can borrow. Begin making gives on couches, get a suggestion accepted, go get the sofa after which take fairly footage and add it.

Ashley:
Superior. Thanks, guys. One final query. How has this helped you guys together with your actual property investing careers? Have you ever used cash from the aspect hustle to buy properties? Have you ever realized the precise priceless expertise which have type of translated into your actual property enterprise? Ava?

Ava:
Yeah. So I clearly have used sofa flipping to not solely get my first rental property, however our second property was a brief time period rental and there’s like 10 grand price of simply mattresses, decorations, simply housing provides that you simply’d want in an Airbnb. So we saved up 10 grand from sofa flipping in an effort to purchase all that stuff. After which additionally simply expertise smart, this was our first time ever doing gross sales and earning money and negotiating. I say we realized lot of that. And in addition me and Ben are each type of extra introverted, so this positively helped us crack out of our shells and speak to individuals who we didn’t know, so yeah.

Ashley:
And Josh, what about you?

Josh:
It’s a reasonably great way of possibly being eligible in your first home hack in the event you do it for 2 years as a result of you possibly can set up two years of tight earnings after which it’s also possible to really… I’m not a tax advisor, however you rack up quite a lot of miles and you’ll write it off and really not pay that a lot in tax on the earnings. However I mainly used it to fund just a few of my first offers and I used to be in a position to hearken to a ton of podcasts and books and set myself up so much higher for once I was prepared to begin making some investments.

Ashley:
Superior. Thanks guys a lot. Josh, are you able to inform everybody the place they will attain out to you and discover out some extra info?

Josh:
Positively, yeah. Josh Janus on BiggerPockets. After which Josh Janus on Instagram.

Ashley:
And Ava?

Ava:
Hello, I’m simply Ava Yuergens on Instagram, TikTok, YouTube, and you could possibly simply attain out by DMs after which additionally Ava Yuergens on BiggerPockets.

Tony:
Simply actually fast, if every of you possibly can spell your final identify, simply so individuals know the way to discover you. Ava, you go first.

Ava:
All proper. So it’s Y-U-E-R-G-E-N-S.

Tony:
Cool. After which, Josh?

Josh:
J-A-N-U-S.

Ashley:
You guys can attain out to them to speak about aspect hustles and even actual property investing. Ensure you return and hearken to their episodes. We had Josh on Actual Property Podcast episode quantity 749, and Ava on the Rookie Podcast episode quantity 271. Thanks guys a lot for becoming a member of us, Ava and Josh, and supplied a ton of worth in the present day with the aspect hustles.

Josh:
Thanks.

Ava:
Thanks.

Ashley:
Properly, that was actually fascinating, Tony, studying about these two aspect hustles. You and I’ve the worst shiny object syndrome as a result of we each are already considering, “How can we make these work?”

Tony:
I’m going to have the most important sofa flipping enterprise in America by the top of the yr. Yeah, it was actually cool. I imply, Ava and Josh, I believe each gave completely different views. I believe what’s so cool, Ashley, is that there’s so many alternative methods you possibly can fund your first deal. So there are actually no excuses round why you possibly can’t get began in actual property investing, as a result of each Josh and Ava authorized it doesn’t matter what your age, regardless of the place you’re at in your life, with little or no assets, you can begin producing further income to place in the direction of your first actual property deal.

Ashley:
Yeah. So we thought for this phase we might type of weigh these aspect hustles with three completely different parts. So the primary one is, what’s the upfront capital? How a lot cash do you’ll want to begin the aspect hustle? What’s the earnings potential? How a lot are you able to really make? After which is it passive or is it going to take up quite a lot of your time? What does that dedication appear like? So so far as the upfront capital, I really feel like these had been really very comparable, the 2 aspect hustles. What I might see is that you simply wanted a car or entry to a car being type of the primary precedence of those two aspect hustles.

Tony:
Yeah. And I’d say the vast majority of of us listening to this podcast have already got entry to a car. Solely caveat is that I suppose with DoorDash it may be greater than 10 years outdated. After which with the sofa flipping, you most likely want a truck or at the very least possibly like a minivan the place you could possibly come out the seats or one thing. However neither one required a major sum of money to get began. So let me simply shortly break down how the scoring’s going to work. So 1 can be poor, 2 can be common, after which 3 can be nice, okay? So if we give one thing a 1, it means we’re not tremendous stoked about. If we give one thing a 3, it means we’re actually stoked about it.

Ashley:
So I believe for the upfront capital, Tony’s at a 3, I’m at a 2 simply since you do must have that car expense. And with a car comes paying for fuel, it has upkeep on the car that you need to preserve.
So our subsequent class is the earnings potential. So so far as these two completely different hustles, I actually suppose sofa flipping has a means larger potential at earning money than DoorDash as a result of I really feel like DoorDash, you’re type of restricted as to how a lot you possibly can really drive. And as Josh talked about, you will get actually good at logistics and have two telephones and completely different apps on them and attempt to coordinate as finest as potential, nevertheless it’s nonetheless you bodily having to go round and make these deliveries, the place sofa flipping, I see it as there’s part of it the place you’re monitoring, you’re negotiating on-line the place it’s not bodily having to drive but to work this enterprise and then you definately’re going to choose up. And sure, there’s a max as to what number of couches you possibly can really choose up in a month. However with the sofa flipping, it appeared that per a sofa, there was a larger span or larger hourly charge that they had been getting in comparison with doing DoorDash.

Tony:
Yeah, I’d agree with that utterly. I believe that the upward earnings potential for the sofa flipping… Like Ava says she was making 10 grand a month flipping couches. To not say that you simply couldn’t doubtlessly do this with DoorDash and Uber Eats and Postmates, however the time dedication will most likely be considerably increased to try to get to that stage of earnings. So yeah, I believe I’m going to offer sofa flipping a 3 in relation to the earnings potential. And I’d most likely give Uber Eats a 2.

Ashley:
Yeah, I agree with that. I believe there’s one thing else that we might put into this class too as to your danger additionally. As to DoorDash, there’s not quite a lot of danger. You’re probably not placing up cash up entrance, the place with sofa flipping, you could possibly be spending $400 to purchase this used sofa and then you definately promote it at a loss for 200 and now you’re out $200. The place with DoorDash it’s possible you’ll be out a bit bit on fuel cash, however Josh mentioned that’s actually by no means occurred the place he hasn’t at the very least made again his fuel cash. However so far as his time, he may need pushed someplace and ended up being $5 per hour he ended up getting paid and making. So I believe that it’s vital to weigh that distinction too.

Tony:
That’s an ideal level, Ashley. Yeah, there’s no danger actually to DoorDash as a result of once more, all you bought to do is leap in your automotive and possibly you spend a bit little bit of fuel, however that’s it.

Ashley:
And in addition I’d say you’re extra assured to truly have enterprise the place sofa flipping it relies on what’s being listed in your market, how effectively are you at negotiating, how effectively you recognize what a sofa sells for and what it’s really price. So quite a lot of analysis and quite a lot of studying. The place DoorDash, you’re given the enterprise, it’s there and you’ll take it above and past like Josh mentioned and actually determine the tip system. However at the very least you recognize you’re going to receives a commission to one thing for the usual charge from DoorDash.

Tony:
All proper, I suppose our final class then is passiveness. That is passiveness/ time dedication. I believe each of them type of have some pluses and minuses to every. Josh with DoorDashing, I believe the profit from a time perspective is that you simply management once you work and once you don’t. In case you simply wish to do that round your day job and say, “Hey, I’m at work from 9:00 to five:00 and I’m going to DoorDash daily from 5:00 to eight:00,” then you possibly can decide to that point window and extra seemingly than not, you’re going to have the ability to generate some income. Whereas with the sofa flipping, like Ava mentioned, you’ve received to type of be monitoring that all through the day as a result of in the event you’re late on the set off, you could possibly miss what’s a extremely whole lot. So I believe from a flexibility standpoint, I do like DoorDashing a bit bit greater than the sofa flipping.

Ashley:
Yeah. I believe so far as the analysis, the evaluation, DoorDash is I believe so much simpler to love, “Let’s simply go and do it” and also you’re earning money day one. The place sofa flipping, you do have to truly study and perform some research in your market onto the worth of a sofa. And so I believe the time dedication of researching sofa flipping and actually understanding your market positively can take up quite a lot of time, particularly with simply getting expertise of shopping for and promoting to get good at it and likewise negotiating.
So so far as passiveness, I believe mentally DoorDash could also be extra passive. If in case you have one app, you get the alert. Okay, that is the place you need to go choose up the meals, then you definately’re delivering it. The place with sofa flipping, you need to actually suppose, “Is that this sofa price it? Is it going to be a deal? How far is it going to take me to choose it up?” And all these various things which might be type of aligned with that. So I suppose so far as passiveness, so far as time dedication, what do you say your rankings are for that?

Tony:
Yeah, I suppose only one last item so as to add on to that. I do additionally like, and we simply barely scratched the floor with this, however there may be the flexibility with sofa flipping to rent digital assistants that may type of cut back that point dedication your self. So when you’ve got a VA that’s oversees and their complete job is to undergo the entire Fb Market listings, the entire OfferUp listings, regardless of the little platform you possibly can consider they usually’re simply monitoring that, searching for couches that suit your standards, after which as soon as they discover one thing, it’s all by the messaging apps anyway, so in the event that they’re simply in that app they usually’re messaging for you after which after they lock one thing in, then you definately’re simply going on the market and selecting it up and validating all that stuff.
So clearly that’s a bit bit extra concerned. However I’d say if we exclude the digital assistant factor, I’d most likely give the sofa flipping a 1 simply because I believe that there’s a bit bit extra friction there. And I’d give DoorDashing a 2 solely as a result of it’s all the time tied to your personal time. So I give sofa flipping a 1, DoorDashing a 2.

Ashley:
And with the sofa flipping too, cleansing. That’s your time cleansing. Initially, lifting the couches is bodily labor, cleansing the couches is the precise labor you’re having to bodily do your self. I imply, with sofa flipping, I believe you could possibly rent the whole lot out and nonetheless make a bit little bit of revenue on the finish of it, however I believe the individuals which might be most likely working for you’re most likely going to catch on like, “Why am I going and selecting up these couches for someone else? I can do that myself.”

Tony:
“I can do it myself.” Yeah.

Ashley:
Yeah. However so grateful to have these two company on in the present day to speak about aspect hustles. Earlier than we shut out in the present day, I do wish to give a shout-out to an actual property Rookie, gfrproperties19 on Instagram. He used the hashtag #realestaterookiepodcast and I noticed his submit the place he really used the BiggerPockets calculator experiences on biggerpockets.com and he confirmed us a pattern of an evaluation he did on a property lately. And he mentioned, “Because the market has been evolving, we’ve needed to evolve our method to search out our subsequent property. We are actually searching for a small multifamily property to deal with hack as our mortgage phrases might be extra favorable as rates of interest proceed to go up.” Then he requested for different individuals to remark as to alternative ways they’re having to evolve or pivot their technique and the way they’re analyzing offers. So go comply with @gfrproperties19.
And in the event you guys wish to submit a query, be sure you guys go to biggerpockets.com/reply and submit your query or submit your aspect hustle so we are able to have you ever as a visitor on the present. As all the time, thanks for listening. I’m Ashley, @wealthfromrentals, and he’s Tony, @tonyjrobinson, and we might be again on Wednesday with a visitor.