Transcription
There are a lot of gurus on YouTube teaching people how to make money. Some claim you can make 5,000 in a day; others claim you can make up to 5 million in 8 weeks.
For the next month, I followed the advice of some of the biggest financial YouTubers with a goal to make 10,000 from all the side hustles combined. I have tried so many different side hustles, from phone flipping to Uber Eats to eBay reselling. Here's the truth: a lot of YouTubers make it seem like it's so easy to make passive income from side hustles. In this video, I tried and tested some of the side hustles.
Starting with side hustle idea number three: Airbnb Arbitrage. Just imagine: you rent a house for $1,500 per month. If you then put that house on Airbnb for $150 per day, then you could pay off your rent in just 10 days. That would leave you with nearly $33,000 in profit at the end of the month. $33,000 in profit at the end of the month, right? So we are going to test this out and see if we can pay up the rent in 10 days, and then for the rest of the days in the month, which is 20 days, it will be pure profit. I don't know how that is, but we are going to try, and along the way, we are going to see if this is actually a scalable side hustle and we can turn it into a seven-figure side hustle, as many claim it's entirely possible to scale the side hustle to seven figures.
The first thing that we need to do is find a landlord that's happy to let us put the property on Airbnb. Behind me is the property that we're going to use for the hustle. The landlord is happy for us to put it on Airbnb, just under one condition. I'll get into all of that later on in the video, but for now, let's go see what the property looks like. This one is purely unfinished, so everything we're going to actually buy from scratch. Well, I'll start from the bathroom, right? This—the bathroom—everything is clean, and then, as always, we're going to buy a lot of things off Facebook Marketplace. I'll just run you through the numbers at the end of it and tell you how much we've spent. We bought this off Facebook the other day for £65, and then the guy charged us £50 just to bring it. That couch is going to be right there. We're going to put a TV right—right there—it's going to be a TV. So that's the kitchen, and then let me show you the bedroom. Yep, obviously the thing we need to finish the whole place. This one was not finished, so we already got the beds; we just need to put them in. But we're trying to get everything done in like 3 days. Well, today is Friday; we're trying to get this ready for Sunday. So I don't know if you missed it, but the bedroom never had a wardrobe, and neither did I have the budget for a brand new wardrobe. What I did is I went on Facebook and bought a cloth frog for £10. And now this is what the old apartment looks like after everything has been finished.
Just imagine: you rent a house for $1,500 per month. If you then put that house on Airbnb for $150 per day, then you could pay off your rent in just 10 days. 10 days. That would leave you with nearly $3,000 in profit at the end of the month, right? So now the apartment was ready. All I did was take some pictures and then list it up on Airbnb. Right, so we're live. I've listed the property on Airbnb and Booking.com. The reason why I put it on both platforms is because I want to increase our chances of getting bookings. As it stands, the rent on the property is £600 a month, so if we want to pay that off in 10 days, we need to be asking for £60 a night, and that's how much I'm asking for. Luckily, it's still cheaper than a lot of similar properties in the area, and I've worked it out: if we get lucky and get the whole property rented out for a month, it will leave us with a revenue of £1,800 before expenses. And expenses—rent, gas, electric, council tax, and all of that—comes up to about £900 a month, which leaves us with a net profit of £900.
So, at this point, I started getting bookings and everything was going perfectly fine until this happened, right? So I got the first guest yesterday, and the worst thing that could have happened actually ended up happening. I couldn't believe it. I just keep thinking, like, "No way, bro." Look, I'll show you. So he's checking in at like 3:00 anyway, so he messages me this, and he says, "Hey there, I'd like to cancel this booking. I don't want to be staying here. I'll be leaving the keys back in the key box and mixing the codes up. I'm not staying here. I would like a refund. I don't mind cutting out the £45 for tonight, but I won't be coming here. The atmosphere coming into the property is awful. I can smell it everywhere outside, and I literally walked out the door, bro." As soon as I got this message, I said, "No way." I couldn't believe it. And the thing is, I know where the smell is coming from, 'cause next door is like, tenants, and obviously they were doing whatever they were doing, and that's why the whole outside was, you know... And then literally as soon as I got the message, I literally called him up. I said, "Listen, I'm very sorry for what's happened. You can get your money back; you can get a refund, but please do not leave a review," because I knew as soon as he leaves a review, the whole challenge is gone—gone—gone.
Later on in this video, I'm going to get back to you with how much we made in our first month on Airbnb, but for now, let's move on to the next side hustle. A 19-year-old is making millions per year reselling sneakers, so I spent a couple of days with him to learn exactly how he did it. Right, we are not going to make a million in a year reselling trainers unless I sell each of these for £50,000, but I can't really do that 'cause none of these are exclusive drops. What we are going to do, however, is see how much money a small sneaker reseller makes as a side hustle. These are trainers that I got from a friend who does sneaker reselling or sneaker botting, and these are 30 pairs. For the next 30 days, we are going to see how much money we're going to make sneaker reselling. Later on in the video, I'll show you how much money I've invested in all of these trainers, and we'll see if we've made a profit or a loss. [Music] Right, so these are some of the trainers that we got. There's quite a few of them. We got something like that, got these, got those, those, there's quite—quite a few of them. I can't go through all of them now, but we got those. Right, so after this, I took some pictures and listed the trainers on eBay and Depop, and then the orders start coming in. So later on in the video, you're going to see how much money I made after one month for reselling trainers.
Now, this last side hustle is probably the most surprising of them all, and it's something that not a lot of people know about, and there are people who have created multi-million dollar businesses from this concept that I'm going to show you. So most people, when their phone or device breaks, they'll typically either throw it away or sell it for super cheap on sites like eBay. And this right here presents a massive opportunity for you, because what you could do, bro—there's no way—he said the hustle has created multi-millionaires. First things first: the barrier to entry for this hustle was too high for me to actually try this. You either need to be a technician or know what you're doing. Not just a random person like me cannot just jump out from nowhere and do this, because remember, typically there's only one thing wrong with the phone or device that prevents it from actually working, but the device still has dozens of fully functional working parts that can be harvested from the phone and then sold separately. And so let's actually break this down and take a look at a real example. So the next thing is, a lot of times the technician to buy these parts, they already know or have suppliers from warehouses who get them these parts for way cheaper than what is online and the marketplaces. The only reason why they go to eBay and Facebook is because they want a genuine part, but it's—it's messed up now, because even if you put a genuine screen on an iPhone, it will still have the message in the settings saying "unknown part." So technicians don't actually bother. I am not the one that's going to bash a hustle before I try it, so we are going to try it. This is the perfect phone for us to actually use for the hustle, because when I bought it, I got scammed. Sorry, sorry, sorry. Open other one. You're right. I'm right, man. You need to reset it. Right, there's no iCloud, and you sure never been set up? I got it for my daughter, but never set it up. She forgot the password, is it? So it's just—ones not B—got a Kindle. No worries. Just double count that. Yeah, sounds right. No worries, long as you said there's not iCloud, it's not been—never been set up, is it? No, never. From the password and turn it on, but never set the iCloud or email or anything up. No, thank you so much. Cheers. The seller claimed there was only a passcode and there was no iCloud, and if I reset the phone the passcode will go away, and it did, but then there was an iCloud, and I tried to reach out to the seller, and he basically said, "I don't know what you're talking about. When I sold it to you, there was not iCloud." This phone is only good for parts, so I'm going to list it on eBay. Later on in the video, we're going to find out if it's sold, how much it sold, and if this is a side hustle that can make you a multi-millionaire.
There is another side hustle of his that I've actually tried before, and they actually make sense. If you go to your local Facebook Marketplace or even Craigslist and you go to the free stuff section, or you just type in "free stuff" into the search bar, the amount of stuff that you'll find people giving away for free is absolutely insane. There's no reason that you couldn't go and sell these for a nice profit, right? So I have attempted this hustle before on this channel, and I've made videos on it. I'm just going to show you the items that I picked up for free over time that I think were valuable and I made some good money on them. This table was the first one I picked up. This table for free, but they're selling for £69 brand new on Amazon, but obviously it was used, so I must have sold it for £60, I think. Yeah, I just got to put them apart. One thing I'm going to say, if you're trying to do this hustle, is you might need a bigger car, as you're going to see. This table was free, but I struggled to put it in the car because it couldn't fit, so I had to dismantle it. I did, and I managed to flip this for £60. I've gotten a free gaming chair before, and I sold it for £30. I've picked up a free exercise bike before. Yep, that's what it's looking like. I took some pictures and put it on Facebook and sold it for £78. And I've picked up a free TV before, but it was not a smart TV. I must have sold it for like £80.
Right, this is the part that we've all been waiting for. I'm going to tell you how much money I made from every hustle, and I'm going to start with the side hustles that paid me the least amount of money. Right, the one that paid me the least amount of money was flipping phone parts. It does—does not work. I genuinely made no money. Look, I listed the phone on the 26th of March, and today is the 26th of April, and I've had to delete the phone 'cause nobody was buying it. Yes, I've had interest of people making me offers of £30, but remember I paid £50 for the phone. You making me an offer of £30 means I'm going to sell it for a loss, and I'm not trying to do that, you know what I'm saying? So does it work? No. One, you need to be a technician to know how to put the phone apart. Two, you're going to be competing with warehouses; you cannot compete with warehouse prices. Does this work? No. Would I recommend it? Nah, nah, nah, nah. Don't do it.
Right, so the second hustle to pay me the least amount of money is sneaker reselling. Even I'm surprised. I genuinely thought this was going to make me money. Don't get me wrong, look, I'll break it down. I paid £1,500 for that whole lot. There were 30 pairs. So far I've sold 20 trainers. I got 10 trainers left, and from the 20 trainers that I've sold, I've made a total of £1,380. That means I need £1,120 to break even. I got 10 trainers; I'm looking at walking away with £300 profit when I've sold the whole 10 trainers left. And I'm going to be honest with you, look, he actually—I didn't actually sell these trainers in one month. Now it's—it's been like over two to three months because the trainers did not have high demand. The trainers that I got, they don't really have high demand. It's like, with trainers, you got to get the ones that everybody's after. What I recommend it? Yeah, but not doing it like I did it, because me, I bought the trainers that have no demand. So I'll say, look for the trainers that actually have demand for them.
The next side hustle is flipping free items from Facebook. Now this one, I've made videos about; if you want to watch it, just click there. It actually works. There's times where I've made £400 in a week just doing this. The only problem is you might need a bigger car, and sometimes you're going to get to the items that they're giving away and they're in bad condition, and that's why the person is giving it away. I've had times where the wardrobe was just messed up, and this is something that you got to be ready for. So would I recommend it? Yes.
Now the next side hustle is the one that we've all been waiting for. Now this one, I need to get my phone up 'cause the numbers are a bit mad. Right, so remember I listed the property on two platforms, Booking.com and Airbnb. So for the first month on Booking.com, I made £749.40. That's on Booking.com, and then on Airbnb, I made £592.26. Right, and now that brings the total to £1,342.26, but that's just revenue, right? So now we take away the expenses: rent, £600; council tax, £80; electric, £100; gas, £100. That leaves us with £462.26. That would leave you with nearly $3,000 in profit at the end of the month. But the side hustle of itself actually works. I got a flat that is already cheap; I'm not asking for £150 like Mark told us; I'm asking for £60. Does this work? Yeah, but I feel like you're going to need more than one property. Two properties. I feel like for it to actually make sense, you need like 10 properties where you're actually hands-off and you just managing them, but this as a side hustle, it actually works, and my earnings got better in the second month and the third month, so yes, this side hustle actually works.
Right, so that's it for this video. If you enjoyed this video, I'll appreciate if you can subscribe. I'm trying to get to 5,000 subscribers. Thank you so much. Thanks for watching. See you next week.