Let me share a tip. Go to church rummage sales in wealthy suburbs. You can find these ads in your local newspaper or online. Wait until Sunday afternoon (Saturday afternoon if they are Synagogues). At around 3 pm, they always, and I mean always, announce a “bag” sale to rid themselves of all the merchandise. I would pay $5.00 for a giant garbage bag, and fill it with anything I think I could resell on Craigslist. You will be shocked at what people donate at these large church sales. Pick items that people readily need. Avoid clothing and antiques. Buy things like air conditioners, appliances like box refrigerators, bicycles and bicycle locks, baby cribs. Those are easier to sell.
On one particular sale, I put in a 100 dollar breadmaker, a four slot toaster, and keyboard, many children’s toys, so many CDs and Books, Coffee Makers, Alarm clocks, U-locks for bicycles, steering wheel locks, all into a $5.00 bag. That is a massive profit that I can resell on Craigslist or eBay.
Once, for a short time, I started a side business called “Vehicle Replacements” and contacted insurance companies. If there a car was totaled, an insurance company would call me, and I would call a few dealerships, ask for a salesman who was more than glad to give me an estimation, and then I would do a quick scan on the Internet, and then tell the Insurance companies what the replacement value would be. You do not need a license for these types of side businesses, which makes multiple profit centers possible. And you can work from home, never fighting the dreaded afternoon rush hours.
Keep your eyes open. Talk to your friends. Once, a Russian friend I had named Sergey and another friend from the Navy bought a lot of cigarettes in the duty free shop. They paid like three dollars for a pack of cigarettes, and as of today’s prices in Chicago, I could resell then for six dollars, far less than buying them at the store. They would call me when they bought cartons of cigarettes, and I would sell them on Craigslist.
For a short time, I advertised and was a “chauffeur” of sorts. I had a few clients that called only me, I would drive home from work or to work. I would charge them less than a taxicab fare, and that would be an asset to them as well as provide business for myself.
Another time, I took up a short hobby of making tiny airplanes out of Popsicle sticks and would paint them with watercolors and resell them. For a short while, someone from a college paid me to write papers for them. Since I love writing (you can obviously tell), I would read the book quickly and finish their homework for them. This was actually a nice profit center because when people are pushed to a deadline at school, they’ll do anything and pay anything to turn in their assignment on time.
Yet, another instance, I contacted various Chinese restaurants and offered my services free of charge for delivery. I would add $3.00 as a delivery charge and keep all the tips. It cost the restaurant nothing and would serve as a profit center for me. I didn’t have to be physically at the restaurant. I just would contact those which were close by, and if they called me, I would go there quickly.
In my home, we have a guest bedroom and many times we rented it out to a safe and quiet renter. Be sure you get references and do a background check and credit check. If their credit check shows multiple late payments, you can be sure you are allowing a headache into your house because they will be late paying their rents as well. I found the best “renters” are University Grad Students because they are always in their labs, and scarcely bring home guests. And are quiet because they are studying. You can have a policy on guests and pets of course. Consider not sharing the common living areas and the kitchen. That is a secret that will make renting easier. You can let the renter bring in a small fridge and microwave.
The sources are endless, and you can do free advertising for your services, either on the Internet, on word of mouth, or drop business cards in neighborhood mailboxes. Except for the Magic shows and teaching, ANYONE can do any of the above examples for multiple income generation that I personally have done.