A few weeks back, Méka Brunel, CEO of Gecina, announced an unpredicented balance sheet considering France and the world are in the grip of a major recession. Gecina, for those unfamiliar, is the largest residential and commercial property owner in France, and the second biggest in Europe. Brunel’s company is a great example of how a massive business entity can be nimble and fast on its feet as well.
Méka Brunel in a recent Fifth Wall interview below
The company showed a very solid first-quarter performance by generating rental income in excess of €168 million euros. Brunel attributed the positive figures to strategic decisions of the past. The two time Pierres d’Or Awards Professional of the Year Pierres d’Or honoree put it this way:
“Gecina is demonstrating its resilience, thanks to the strategic choices made in the last few years to realign operations around the Paris Region’s most central sectors, as well as the affirmation of our ambition in the residential sector and the proactive and cautious management of our balance sheet.”
Ms. Brunel also made an announcement that one quarter’s rents would be canceled for small businesses hit hard by the coronavirus pandemic. In addition, the Gecina CEO asked the board of directors to reduce her fixed compensation for 2020 by two months’ salary as a solidarity measure in the uncertainty of the pandemic. In addition, she donated an equivalent amount to the Gecina Foundation to support charities working to fight against Covid-19 consequences. In the interview with Fifth Wall Co-founder Co-Founder Brendan Wallace, Brunel discusses how Gecina prioritizes sustainability and innovation even in the most challenging times.
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Gecina only recently changed board chairmen when Bernard Carayon stepped down so that Jérôme Brunel could assume the helm of the group. Just three weeks ago the group announced the creation of a dedicated residential subsidiary, along with a call for partners to invest in a new €3 billion euro Paris portfolio. Gecina’s current portfolio consists of more than 6,000 apartments made up of 409,000 sqm of space.
The company specializes in Paris residential, and owns, manages and develops property holdings worth more than €20 billion euros. Gecina SA (GFC.PA) stocks are holding steady compared to many across Europe. Their ticker is climbing back after a big hit back in March when every company on the planet lost value. Last Summer, Simply Wall Street hinted that Gecina’s real share value was €151.42, and advised investors to hold off for a better deal on the extremely stable shares. Interestingly, the pandemic has caused shares to stabilize at €112.
Starting today, France is lifting many of its lockdown restrictions imposed on account of the spread of COVID-19. France 24 reported yesterday that hospitalizations are continuing to fall and that there have been fewer than 100 deaths from the dreaded disease in recent days.
There’s still a lot of uncertainty over the economic picture in the world in the aftermath of the pandemic, but Brunel seems ready to make the proactive moves necessary to assist her company’s most exposed clients and this shows the whole industry what winning leadership looks like.
Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.
[Note from editor: The “Mastermind Showcase” highlights companies and news from members of the GEM. Today’s showcase: Glide.]
Glide offers solutions to help real estate agents create and share forms, agreements, and disclosures with clients and collect e-signatures via DocuSign integration. The software includes an offer management platform, allowing agents to track offers and share summaries with both buyers and sellers, and communicate with live document commenting. Other key features include audit trails, team member accounts, cloud file storage, and compliance management.
Founded in 2017, its software has been used in more than 260,000 transactions by 40,000+ agents across California.
What We Like: Filling out, organizing, and executing forms and disclosures is an antiquated mess. Improving that process is a smart beachhead that Glide modernizes in a big way. Further, receiving property information before it’s publicly available means they are well positioned for a host of opportunities, including playing in the pocket listings ecosystem.
In a city whose name is shorthand for exclusivity and wealth, the future of a planned ultra-opulent hotel will soon be decided by the most democratic of means: an election.
Beverly Hills voters will decide Tuesday whether to rescind the City Council’s approval of a hotel project helmed by French multibillionaire Bernard Arnault and LVMH Moet Hennessy Louis Vuitton, his luxury conglomerate.
To some, the battle over the Beverly Hills Cheval Blanc hotel is a David and Goliath story, pitting a small group of residents concerned about overdevelopment and a union advocating for affordable housing against the world’s richest person.
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Others see it as a tale of an outside group — in this case Unite Here Local 11 — mucking around in the city’s business and potentially depriving Beverly Hills of hundreds of millions of dollars in tax revenue over the next three decades. The politically powerful union, which represents hospitality workers across the region, collected the local signatures necessary to force the issue to a vote.
Regardless, all parties seem to agree that the result will have lasting implications for a 5.7-square-mile city where roughly 31,000 residents bed down at night and many more people staff homes, offices, stores, restaurants and hotels during the day.
Beverly Hills already has 16 hotels, seven of which are considered luxury, according to the city. But the Cheval Blanc would aim to be the brightest star in a galaxy of sparkle, promising an exceptionally high-end experience for its wealthy clientele.
It would be the first North American property for LVMH’s relatively new chain, which currently has five hotels, including a ski-in and ski-out chalet in the French Alps and a St. Barts hotel where the entire property is lightly scented with a custom Guerlain fragrance.
“I think it’s fair to say that this is the only city in the world that could have made this deal,” Henry Finkelstein, the outside lawyer who represented Beverly Hills in the development negotiations, said during a November City Council meeting. “If you look at virtually any other place, including in the metro Los Angeles area in particular, they would be paying subsidies. And here we are exacting premiums.”
The Beverly Hills Cheval Blanc, which was approved by the City Council and the City Planning Commission last year after a lengthy public process, would also reshape the edge of one of the most famous retail strips in the world.
When most people think of Rodeo Drive, they tend to focus on a specific portion of the roughly two-mile street: a three-block business district that doubles as an international symbol of luxury retail, where the streets are lined with palm trees and vast sums of capital.
The hotel — replete with a members-only club, restaurants, retail and a spa — would rise at the northernmost of those three blocks, abutting Little Santa Monica Boulevard.
After raising numerous objections during the planning process, Unite Here Local 11 began gathering signatures to challenge the project shortly after the development agreement and zoning amendment were approved in November.
Triggering a referendum election in Beverly Hills requires the signatures of 10% of registered voters, meaning that just 2,193 signatures were necessary at the time.
Representatives of the union argue that cities like Beverly Hills often change development rules to make it easier to build commercial luxury projects, but don’t always do this for housing. They also vociferously object to the fact that the development agreement does not specifically earmark any money for affordable housing.
Unite Here Local 11 carries tremendous political heft nine miles east, at Los Angeles City Hall, where it has pushed legislation and where one of its own, former organizer Hugo Soto-Martínez, now sits on the City Council. The union local also has been instrumental in recent policies in West Hollywood, but its influence is relatively nascent at Beverly Hills City Hall.
A model of the proposed Cheval Blanc hotel in Beverly Hills is on display inside the campaign headquarters for the project. In the background, phone bankers make calls to residents about the upcoming election.
(Mel Melcon / Los Angeles Times)
The city’s development agreement with LVMH dictates that the company contribute $26 million to the city’s general fund, in addition to $2 million for art and cultural programs. The city would also receive an additional 5% surcharge over its regular 14% transient occupancy tax.
The proposed hotel complex, designed by star architect Peter Marino, would replace a number of buildings, including the Richard Meier-designed site formerly occupied by the Paley Center for Media on North Beverly Drive around the corner from Rodeo. The hotel would vary from four stories to a partial ninth-story penthouse, taller than current zoning rules allow, according to the final environmental impact report.
According to the city’s analysis, the hotel is expected to funnel about $725 million into city coffers over the next 30 years, with the bulk of that coming from the combined 19% bed tax.
It’s money that Councilmember Lili Bosse, who served as mayor when the project came before the council last year, and other proponents see as key to securing the long-term future of Beverly Hills as a place synonymous with the good life.
“I think what people need to understand is the quality of life of Beverly Hills, in terms of our three-minute response time of our Police Department … the best public schools, the best quality of life, being a safe city, a beautiful city — that revenue mostly comes from the business community,” Bosse said.
But Councilmember John Mirisch, an iconoclastic former film executive and fourth-generation Beverly Hills resident who cast the lone “no” vote against the project, hardly sees the Cheval Blanc as a good deal for the city.
“We’re effectively doubling the value of their land,” Mirisch said, referring to the zoning amendment approved by the council, which will allow the developer to more than double the square footage that it would otherwise be able to build on the site. “And the city negotiated, from my perspective, a measly $28 million.”
Bernard Arnault, whose company is behind the Beverly Hills project, attends a 2022 fashion show in Paris.
(Vianney Le Caer / Invision/Associated Press)
Mirisch said he voted against the project because of his critiques of the deal, along with concerns that the hotel was too large for the area.
Since then, Mirisch said, he has been appalled by the amount of money LVMH has spent on the special election campaign.
The LVMH-funded pro-hotel campaign had spent nearly $2.8 million by early May, according to campaign statements filed with the city clerk.
Among the opponents, Local 11’s political action committee spent nearly $86,000 during the same period, and Residents Against Overdevelopment — a grassroots group led by former City Council candidate Darian Bojeaux — spent a little more than $16,000.
LVMH will reimburse Beverly Hills for the cost of the special election, estimated to be about $870,000, according to the city.
Boosters see the relationship between Cheval Blanc and the street that will house it as symbiotic, with hotel guests drawn by the location doubling as an ideal client base for the neighboring luxury stores. Money will beget money, with a small fraction of every transaction going directly into city coffers.
Proponents also say that the sumptuous spectacle of Cheval Blanc would anchor the northern end of the retail corridor, guarding against the tired fate that’s befallen several other once-hot shopping districts. (LVMH’s investments on Rodeo go far beyond just the Cheval Blanc site: The conglomerate has 15 stores on the street or broader Business Triangle and owns several of those properties, according to a spokesperson.)
Pedestrians walk past the former Brooks Brothers building at the intersection of Rodeo Drive and Little Santa Monica Boulevard in Beverly Hills. The Cheval Blanc hotel project would encompass this building.
(Mel Melcon / Los Angeles Times)
But Bojeaux, a semiretired attorney, said she fears that the size of the hotel could dramatically change her “village” for the worse.
Still, the 36-year Beverly Hills resident said she had all but given up on organizing against the Cheval Blanc when Unite Here began collecting signatures for the referendum, saying, “We probably wouldn’t have been able to do it on our own.”
“Whatever their interests were, it was really wonderful for a lot of us, because they organized the referendum petition,” Bojeaux said, characterizing the referendum election as “like something out of my dreams.”
Housing — particularly the ability to find affordable housing near workplaces — is the No. 1 issue for the union and its members, said Unite Here Local 11 Co-President Kurt Petersen.
“Beverly Hills is like the worst of the worst because there’s no affordable housing nearby,” Petersen said, adding that Local 11 has more than a thousand members who work in Beverly Hills, but very few are able to live in the city.
There are 157 deed-restricted affordable units in the city, but all but seven of those units are part of a dedicated senior housing facility, according to Deputy City Manager Keith Sterling, who said an additional 50 units are in the pipeline.
Beverly Hills voters will be asked two ballot questions: whether they approve of the zoning amendment that would allow the hotel to be constructed, and whether they approve of the development agreement.
Should either measure fail to pass, the project would be unable to move forward.
Anish Melwani, chairman and chief executive of LVMH’s North American subsidiary, said that if the voters reverse the project’s approvals, the company has no plans to bring it back before the council after already going through a rigorous, years-long process.
“We have no interest in building a hotel in a community that doesn’t want us to be there. Vox populi, vox dei, right?” Melwani said, invoking a Latin phrase that means the voice of the people is the voice of God, and saying the company would revert the properties to retail.
If you live in State 48, there’s a pretty good chance you’ve heard of “VIP Mortgage,” either because you’ve been a customer or you’ve seen one of their ads.
Regardless, they are a major mortgage force in Arizona, having closed billions in home loans there just last year alone.
In fact, they were a top-10 mortgage lender in Arizona based on total volume, only falling behind the biggest mortgage lenders out there.
Those names include Chase, loanDepot, Quicken Loans, and Wells Fargo, along with fellow Arizona lender NOVA Home Loans.
So it’s clear they’ll be a consideration for you if buying a home or refinancing a mortgage in Arizona. Let’s learn more about the company.
VIP Mortgage Fast Facts
Direct-to-consumer retail mortgage lender located in Scottsdale, Arizona
Founded by Marine veteran Jay Barbour in 2006
20+ brick and mortar branches and hundreds of licensed loan officers nationwide
Funded more than $2 billion in home loans last year
More than 80% of total loan volume came from their home state of Arizona
Currently licensed in 24 states including Hawaii
VIP Mortgage funded more than $2 billion in home loans last year, with a whopping $1.76 billion coming from the state of Arizona.
They did another $130 million or so in the state of Colorado, with the remainder coming from a variety of states, mostly located on the West Coast.
At the moment, they appear to be licensed to do business in 24 states, including:
The company has physical branches in Arizona, California, Colorado, Hawaii, Indiana, Texas, Washington, and Wisconsin.
How to Apply with VIP Mortgage
You can apply for a home loan directly from their website
Or schedule a consultation first with one of their loan officers
They offer a digital mortgage loan experience powered by Floify
It allows you to complete most tasks remotely via smartphone or computer
While they seem to prefer that you speak to a loan officer first to go over your goals and available options (a loan officer directory is on their website), you can freely apply on your own as well.
If you visit their website, you can simply click on “apply,” at which point you’ll be asked if you’re already working with a loan officer.
Assuming the answer is yes, simply enter their name and it will populate. If no, you’ll be piped over to their digital loan application.
It appears they use Floify’s digital mortgage product, which lets borrowers fill out the app from anywhere on any device.
Additionally, borrowers can review and eSign disclosures from a web-based portal, link financial accounts, and scan/upload supporting documentation.
Once your loan is submitted, you can access the borrower portal at any time to see your to-do list, check loan status, or get in contact with your lending team.
They make it easy to apply and monitor your loan status from start to finish.
Loan Types Offered by VIP Mortgage
Home purchase loans and refinance loans
Home renovation and construction loans
Conventional conforming loans backed by Fannie Mae and Freddie Mac
Government loans: FHA/USDA/VA
Jumbo loans
Reverse mortgages
HUD-184 loans (for Native Americans)
Down payment assistance programs
“Inclusive Loan”
Various fixed-rate and adjustable-rate mortgage options available
VIP Mortgage offers tons of different home loan programs, including home purchase loans, refinance loans, renovation loans, and construction loans.
Additionally, you can get a reverse mortgage if 62 and older, or a HUD-184 loan if a Native American.
They’ve also got a proprietary loan program called the “Inclusive Loan” that is geared toward home buyers who experienced a recent foreclosure, short sale, or bankruptcy.
In terms of loan programs, you can get a conventional loan, including conforming loans and jumbo loans, or a government-backed loan such as an FHA loan, USDA loan, or VA loan.
VIP offers both fixed-rate and adjustable-rate mortgages with various loan terms, including a 30-year fixed, 15-year fixed, 5/1 ARM, 7/1 ARM, and so on.
So you shouldn’t be at all limited when it comes to loan choice if you choose to go with VIP Mortgage.
VIP Mortgage Rates
Like many other mortgage lenders, VIP Mortgage chooses not to advertise their mortgage rates on their website.
While there are many reasons not to advertise rates, such as the extra work it takes and the fact that such rates are just ballpark estimations, they can be helpful to get a feel for pricing.
Nonetheless, you can still easily get loan rates if you contact a loan officer directly. And it should be a more accurate quote since you’ll need to provide them with specific loan details first.
It’s also unclear what they charge in the way of lender fees, such as a loan origination fee, underwriting, processing, and so on.
You’ll need to inquire with them directly to determine that. Once you obtain that key information, be sure to shop around with other lenders to see how competitive they are.
VIP Mortgage Reviews
On SocialSurvey, VIP Mortgage has a 4.90-star rating based on nearly 16,000 reviews from its past customers.
The company also landed in SocialSurvey’s Top 10 list for customer satisfaction in the medium lender division back in 2018
They have a 4.96-star rating out of 5 on Zillow, based on roughly 1,100 customer reviews. That’s clearly beyond excellent and a testament to their exceptional customer service.
A good proportion of the reviews on Zillow indicated that the interest rate received was lower than expected, if you’re curious about pricing.
VIP Mortgage is an accredited business with the Better Business Bureau (BBB) and currently enjoys an A+ rating. They also have a 4.33-star rating on the BBB website, which is quite high.
VIP Mortgage Pros and Cons
The Good
You can apply for a home loan directly from their website without human assistance
They offer a digital mortgage loan process
Tons of different loan programs to choose from
Excellent customer reviews
A+ BBB rating, accredited since 2008
Lots of free mortgage calculators on site
The Maybe Not Good
Not licensed in all states
Do not disclose mortgage rates or lender fees on their website
Charlie Rosenberg/JP Photography – stock.adobe.com
It’s long been a truism that homeownership is a pillar of the American dream. Yet many Americans today are increasingly losing confidence in their ability to afford a home.
That’s according to a recent Gallup poll on the economy and personal finance, which found that 78% of Americans believe that now is a bad time to buy a house due to concerns about the availability of affordable housing and high mortgage rates. As June is National Homeownership Month, it’s a good time to take stock to determine what steps we can take to restore optimism and confidence in the housing market.
We’ve long recognized that when individuals and families are able to purchase their own homes, they are stepping onto a reliable path toward achieving long-term financial capability. Moreover, high rates of homeownership give people a stronger stake in their neighborhoods, leading to more stable and secure communities. For these and other reasons, policymakers have long sought to encourage homeownership as a cornerstone of our financial inclusion strategy.
But over the last several years, that model has been under severe strain, as a tight inventory of available housing, a growing population, elevated home prices, rising interest rates and higher costs for construction materials have resulted in many buyers being locked out of the market.
Particularly affected by these trends are first-time homebuyers — especially younger buyers and members of marginalized minority communities who are seeking to buy a home as a means to start climbing the economic ladder. Likewise, middle-income buyers — those making up to $75,000 per year, the U.S. median household income — are also feeling the pinch due to a pronounced shortage of available homes in their price range, according to the National Association of Realtors.
Such trends are undermining confidence in the housing market. But the good news is there are steps we can take to alleviate this situation and to restore homebuyers’ hope.
As one of my duties as a member of the board of the National Credit Union Administration (NCUA), I’ve recently assumed the chairmanship of the board of directors of NeighborWorks America, a nonprofit chartered by Congress with a mission to increase access to homeownership and affordable rental housing. NeighborWorks has a variety of tools at our disposal to address the housing shortage, including direct funding for development or redevelopment of neighborhoods; financial counseling for homebuyers and partnerships with other entities to address housing needs in local communities.
Policymakers should focus on creative ways to encourage more investment in affordable housing. Such solutions could include regulatory reforms, adjustments to onerous zoning restrictions that restrict new construction and funding to boost the supply of homes.
Finally, as a member of the NCUA board, I will continue to encourage the financial industry to take a leading role in homeownership. One great example I point toward is the GreenState Credit Union in Iowa, which launched an initiative called “10 Over 10” to boost homeownership opportunities among minority populations. GreenState pledged to direct 10 percent of their total assets, $1 billion, to home loans for people of color over the next 10 years. So far, they’ve committed about $300 million toward that goal, so they’re almost a third of the way there. This is a great example of how the financial services industry can contribute to addressing the nation’s housing challenges. Industry leaders should study such examples and share ideas to see how these types of approaches might be adapted in other states and localities.
The reality is that our housing problem doesn’t have a single “silver bullet” solution — it will require solutions, in the plural, to ensure that the complexity of this problem is addressed. But we have the tools at our disposal to start addressing our housing challenges, through a creative mix of regulatory reforms, policy changes, incentives and investment. What’s needed is the will and leadership to put those tools to work addressing the problem. We should use National Homeownership Month as a spur to action to get that process started now.
Need to empower the leadership at your organization? Want to increase efficiency in your mortgage business? Or, seeking guidance for mentoring new employees? Suzy Lindblom will speak to all of these topics when she takes the stage at HW Annual. Register for HW Annual today to catch Lindblom on stage alongside other powerful women of influence.
Serving as chief operating officer at Arc Home, Lindblom is also a HousingWire Vanguard award winner and a two-time Women of Influence Honoree.
Lindblom will be joined on stage by moderator Michelle Kryczkowski, vice president and division performance executive at Cardinal Financial. Tapping into their time in the industry, they will discuss how to navigate your career in a down market. These leaders will also discuss what you should keep in mind when your career takes a turn you didn’t expect. As a leader who has been in charge throughout the highs and lows of the housing market, Lindblom has guided some of the biggest rising stars on how to own your career journey. She has some big ideas for disrupting the pattern of leadership at your mortgage business.
“Make sure you have leaders, not managers, and take care of your staff,” Lindbolm said. This focus on leadership, not management, fosters a community of support and mentorship in any organization. Especially in a tight market, where every mortgage deal earned is a milestone, employees and teams need the right leaders at the helm.
As a C-suite mortgage leader who has an expansive knowledge on the mortgage industry, Lindblom is the best-guiding light to help you set up your business for success in any market. In 2024, Lindblom believes the focus of the housing industry will be on, “purchase activity and first-time homebuyers.” Capitalize on that purchase activity — and set yourself up for success — by strategically planning your business based on Lindblom’s expertise.
Her predictions are solid, after several decades in the mortgage industry, Lindblom has seen several housing market cycles come and go. Her experience includes leadership positions at Planet Home Lending, Stearns Lending and Bank of America.
HousingWire Annual
HW Annual is HousingWire’s capstone mortgage event, connecting leading professionals from the housing economy seeking to grow, innovate and win market share. This is where strategies are formed, deals are inked and lifelong relationships are solidified. Remember, HW+ members receive special perks like 50% off your admission to HW Annual. Go here to become a member. Haven’t received a discount code yet? Reach out to us at [email protected] Join us in Austin, Texas October 10-12 for community, content and commerce.
The Federal Open Market Committee on Wednesday raised the federal funds rate for the first time in four years, marking an end to the easy money that gave rise to the hottest mortgage market in U.S. history.
The FOMC, as was predicted, raised the federal funds rate by 25 basis points to 0.25-0.50 percent, the first time the FOMC has changed the federal funds rate in two years, and the first rate hike since March 2018.
The move, designed to slow the pace of inflation, which reached 7.9% for the year that ended in February, is sure to increase the cost of mortgage borrowing. Whether it slows the frenetic pace of a housing market with historically low supply is yet unclear.
“The Fed worked to ensure today’s announcement would not be a surprise, with the rate hike following a series of foretelling decisions, including its acceleration of asset tapering in December through the end of its asset purchase program earlier this month,” Realtor.com‘s chief economist Danielle Hale said in a statement following the announcement.
“The Fed’s language in its public statements has also prepared markets for rate increases by consistently focusing on above-target inflation and progress against labor market goals. This also meant that mortgage rates have largely adjusted for the first hike, and I don’t expect a spike following the latest announcement.”
Beyond the initial 25 bps rate hike, the Fed also said it planned to raise rates six additional times in 2022 and three times in 2023, giving more certainty to investors in the secondary market, which should help ease overall volatility somewhat.
How should the current market impact lenders’ tech adoption?
HousingWire recently sat down with Polly CEO Adam Carmel to discuss how lenders can break old habits and redefine the mortgage process through innovation and modern, advanced technology.
Presented by: Polly
“With the unemployment rate below 4%, inflation nearing 8% and the war in Ukraine likely to put even more upward pressure on prices, this is what the Fed needs to do to bring inflation under control,” said Mike Fratantoni, chief economist of the Mortgage Bankers Association. “The FOMC economic projections indicate slower growth and higher inflation than had been the expectation at their December meeting. Note that they do not expect to be back at 2% inflation until after 2024.”
Big questions remain, however. It’s still not entirely clear how quickly the Fed will unwind its $9 trillion balance sheet. The Federal Reserve said it would “begin reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities at a coming meeting,” but did not get more specific.
“Although we anticipate that shrinking the balance sheet will begin this summer, we will be looking for details regarding the pace of the runoff and whether they would consider active MBS sales at some point to return to an all-Treasury portfolio,” said Fratantoni.
The purchases of Treasuries and MBS, which ended this month and were designed to support the economy during the Covid-19 pandemic, helped the housing and mortgage markets reach never-before-seen heights.
Fueled by a sharp drop in mortgage rates during the pandemic, the U.S. mortgage industry funded $4.1 trillion in new loans in 2020 (64% refis, 36% purchases), and $3.9 trillion in 2021 (57% refis, 43% purchases), according to the MBA.
But refi applications fell to about one-third of rate locks in February, and lenders have switched gears to serve a heavy purchase market. And that market is largely defined by a dearth of inventory.
On Friday, Zillow reported that overall housing inventory dropped to 729,000 home listings in February, a 25% drop year-over-year and a 48% fall since February 2020. It was the fifth consecutive drop in inventory.
Though the rise of mortgage rates – the MBA anticipates rates to hover around 4.5% for the next year – will force some would-be buyers out of the purchase market, other factors appear more important.
“Mortgage rates have already been increasing for many reasons — improving economy, higher inflation expectations and Fed tightening,” said Odeta Kushi, deputy chief economist of First American Financial. “As rates rise, some buyers on the margin will pull back from the market and sellers will adjust price expectations, resulting in a moderation in house price appreciation.”
But, Kushi added: “The other implication of a rising mortgage rate environment is the rate lock-in effect. Many homeowners have locked into historically low rates, and are less likely to move as rates move higher — this does not bode well for housing supply.”
The first Fed rate hike isn’t going to take us into a recession, it just raises the second of the six flags we would need to go into a recession. But looking forward, the Federal Reserve has now started to pull back from their accommodative stance because they believe the economy is too strong and the concern right now is to fight inflation with rate hikes.
From the Fed: The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With appropriate firming in the stance of monetary policy, the Committee expects inflation to return to its 2 percent objective and the labor market to remain strong. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 1/4 to 1/2 percent and anticipates that ongoing increases in the target range will be appropriate. In addition, the Committee expects to begin reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities at a coming meeting.
I raised the first recession red flag when the unemployment rate got to 4% and the two-year yield got over 0.56%. Again, this red flag showed the progression of an economic expansion, and the recovery was so extreme that the unemployment rate fell very fast.
The low unemployment rate isn’t a recession factor, but all expansions end when the unemployment rate is at the lowest level. I am trying to show you the stages of an economic expansion into a recession, which is why I believe in the red-flag model.
The Russian Invasion of Ukraine is a brand new variable shock to the global economy that needs to be monitored daily. Unlike COVID-19, there is no fiscal disaster relief and no rate cuts coming. The Federal Reserve’s job is to cool down this hot economy, so the economy now has pressures on two fronts.
Recession red flag No. 3: The inverted yield curve
As I am writing this article, the 10-year yield is 2.17% and the two-year yield is 1.94% which means the inversion spread is now 0.23%. Historically speaking, when the 10-year yield and the two-year yield meet to say hello and shake hands (the inversion), the recession isn’t too far off. In the chart below, the grey shaded bars show when the economy is in a recession and the black in the middle is when the 10-year and 2-year yields shake hands.
How we get to higher yields
I am big fan of higher yields to create balance in the housing market. However, in 2021 I did not believe we had the capacity for the 10-year yield to break over 1.94%, which would get us to 4% plus mortgage rates. However, part of my 2022 forecast was that if global yields rise, especially in Japan and Germany, the 10-year can get up to 2.42% this year, which means 4% plus mortgage rates.
From the forecast: “We had a few times in the previous cycle where the 10-year yield was below 1.60% and above 3%. Regarding 4% plus mortgage rates, I can make a case for higher yields, but this would require the world economies functioning all together in a world with no pandemic. For this scenario, Japan and Germany yields need to rise, which would push our 10-year yield toward 2.42% and get mortgage rates over 4%. Current conditions don’t support this.”
The economy has been on fire for some time now, but only recently has the 10-year yield been able to breach over 1.94%. This is mainly due to global yields rising not so much of the U.S. We have the hottest economic and inflation data in decades and the 10-year yield is only at 2.17%. Now the tug of war begins: Can the U.S economic data can stay firm with all this inflation and higher rates, or will the weakening economy send yields lower again?
As someone who has been rooting for higher rates because the housing market is savagely unhealthy, I hope it can create some balance. If economic data gets weaker, I am concerned rates will go back down again. We lose our only variable that can create balance in the housing market.
I believe in economic models as they keep us in line. In this day and age of boom and bust 24/7 marketing for clicks, I understand that boring economic models might not be so sexy. However, economics isn’t supposed to be a hot summer flick. I always want to be the detective and not the troll. The main reason I continued writing after 2015 wasn’t because of the housing market work I have done — I wanted to be a source of information for the economic expansion and recession that wasn’t predicated on extreme ideological or stock trader takes. This is why I wrote the America Is Back Recovery Model on April 7, 2020.
So to wrap it all up, the second recession red flag is up, and I am keeping an eye out on the third one. Once that bridge is crossed, I will update the model accordingly. We will hold hands together as we continue this slow dance of information, and when something meaningful pops up, I will let you know about it. Buckle up for the rest of the year and root for more housing inventory; we need to get back to 1.52 – 1.93 million!
Our family has been going through a transformation from a paycheck-to-paycheck family to a family that has money in the bank. While I wouldn’t say we are extreme frugalists, we do try to save as much money as we can, yet still provide excellent entertainment and learning opportunities for our family. Like J.D. (and many others!), we have struggled with finding that balance where we allow some fun while working to increase our financial health.
When it comes to entertainment, I think we are close to finding that balance. We do allow some money in our budget for that type of spending, but not much. We supplement our spending by enjoying as many free activities/events in our area as we can. But where do we find them?
The internet turned out to be a great resource for us and I thought I would share what I’ve learned with you. Of course, internet sources vary greatly depending on where you live so this is a generic list that I hope can be helpful to everyone. By all means, if you have suggestions, feel free to share with everyone in the comments!
TV & Radio Stations — Most of our local stations have an online community calendar. While not everything listed has been free, I have found some great gems.
Newspapers — Our newspaper’s online version has a community calendar. They also sometimes post articles about free events (they tend to be right before the event so they are last minute finds).
Hospitals — I never knew our local hospital sponsored so many free activities to promote good health! The free activities around us are often geared towards kids but the whole family is invited.
Cities/Towns — Municipalities around us have event pages to promote what is happening. Free concerts around us are pretty popular.
Local Tourism Sites — Our local tourism sites have given us ideas regarding free places to visit and explore in our area. They also have a calendar that we check for free events.
Bookstores & Libraries — When it comes to finding free presentations by authors or literacy programs for children, bookstores and libraries are the place to look.
Sporting Goods Stores — I was surprised when I came across a local sporting goods store with a calendar of events. One near us sponsors things like free get-together bike rides.
National & State Parks — some state parks in our area have free nature programs and hikes for families during the summer.
Schools & Colleges — One school in our area has an online newsletter on their website that includes upcoming local activities for families. I’ve found quite a few free things to do from that. The local college advertises free seminars and concerts. Both of these are usually more active during the school year.
Historical Societies & Museums — In my experience, there is usually a fee for events sponsored by historical societies and museums. However, at least once a year the ones near us have a free open house and some link to free historical seminars at other locations.
Target Stores — They are sponsoring free and reduced fee activities this summer. The activities are in major metropolitan areas, but if you are near one there are some great offerings. For example, admission to the Portland Children’s Museum is free on the first Friday of the month.
Search Engines — I’ve found a few obscure free things to do just by searching for “free events [my town]” or “free activities [my town]” on Google.
The sites I find are bookmarked and checked weekly. The small amount of time I spend to check them is worth it since the free activities and events we attend feel like little splurges to us. They are fun and they are free!
The photo of the girl is by D Sharon Pruitt.The second photo is by the Goddard Space Flight Center of “The Sunday Experiment”, a free program they hosted earlier this year.
Inside: Are you looking for ways to make money quickly and easily? This guide has a variety of tips and tricks to help you make 1000 a day.
Making money is something that everyone is interested in. And why wouldn’t we be? Money gives us the ability to buy the things we want, travel, and live a lifestyle that most people can only dream of.
But what if I told you that it was possible to make $1000 a day? Would you believe me?
Well, in this blog post, I’m going to show you some of the best ways to make money really fast.
So if you’re looking to make some quick cash or consistent income, then this is the post for you!
In this post, I will share with your some of the best ways that I know of to make money $1k a day on a regular basis.
So if you’re ready to learn how to make 1000 a day, then let’s get started!
Is it possible to make $1000 a day?
Yes, it is possible to make $1000 a day.
In fact, this is something I regularly do (see picture to prove it).
However, achieving this goal requires commitment, hard work, and a solid plan. Factors that contribute to achieving this goal include finding a method that works for you, sticking with it, and putting in the necessary effort.
Additionally, having a unique skill set and interest in a particular method can increase the chances of success.
How to make $1000 a day?
Making $1000 a day is an appealing goal for many people, whether it’s a one-time need or a consistent source of income. Fortunately, there are several ways to achieve this goal.
Here are the top ways to make $1000 a day:
Start a high-paying job: Some jobs pay over $300k a year, and while they may require advanced degrees and education, there are also a few that don’t require a college degree.
Offer high-value services: You can offer services such as pet-sitting, tutoring, design work, or writing to make money.
Start a business: You can start a business that generates $1000 a day, such as a digital marketing agency, freelancing, or a service-based business.
Sell items you no longer need: You can sell items on eBay, Craigslist, or other online marketplaces to make quick cash.
Let your money work for you: You can invest in stocks and shares, real estate, or property to earn upwards of $1000 a day.
While each method has its own advantages and disadvantages, with the right strategy and dedication, making $1000 a day is achievable.
So, get started today and see how much money you can make.
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Best ways to make 1000 a day
We’ve compiled a list of our favorite ways to make money really fast – specifically $1k a day!
Many times, you will have to invest 100 to make 1000 a day.
If you’re looking for ways to make some extra cash, or even earn a full-time income, this post is for you.
1. Freelance Writing
Freelance writing is a great way to make extra money or even replace your full-time job. There are various types of content that freelance writers can specialize in, such as long-form content or shorter direct-response copywriting.
With freelance writing, you can earn over $.50 or even $1 per word, which means that a 1,000-word article could net you $1,000 quickly.
To start, you need to establish a portfolio of your work to pitch to new clients. This portfolio should include links to any relevant articles or copy you’ve written that’s related to the client you’re pitching. If you don’t have a portfolio yet, you might need to do some work at lower rates to get your foot in the door.
Even if you don’t consider yourself a writer, don’t strike it off the list just yet. With the right approach and mindset, anyone can become a successful freelance writer.
2. Crafting
Crafting offers many benefits beyond just making extra cash. It allows for flexibility in your schedule, creativity in your work, and the ability to turn a hobby into a lucrative business.
If you are creative and have a talent for creating handmade items, then starting a crafting business is the perfect way to monetize that skill by doing something you enjoy. There are plenty of crafts to choose from and you may even become an instructor!
The most difficult side is you are trading your time for money and it may be difficult to scale.
3. Day Trading Stocks
Day trading stocks is a high-risk, high-reward investment strategy that involves buying and selling stocks within a single trading day. It requires a great deal of knowledge, discipline, and risk management to be successful.
However, there is a large group of us who have made the $1000 in a day club.
Successful day traders use a combination of technical analysis, risk management, and discipline to make profitable trades.
This choice requires discipline, a proper trading education, knowledge, and risk management.
Trade and Travel with Teri Ijeoma is a popular course that investors can take to learn about trading stocks and options and begin their journey to making $1,000 a day.
4. Trading Options
Trading options can be a lucrative way for seasoned investors to make money.
With options, investors can speculate on different stocks with only a fraction of the investment capital needed to buy the stocks outright.
Investors who are familiar with investing in individual stocks can take the next step in the process by trading options. While options may seem exotic on the surface, they are a common tool used by seasoned investors and are especially valuable during volatile activity in the stock market.
To trade options successfully, investors need research skills, investing knowledge, discipline, and patience.
Trading options can be a high-risk option, especially for those who lack expertise in the area. However, it can be extremely lucrative for those who have experience and knowledge in the stock market.
Investors should consider taking courses to learn more about trading options.
5. Youtube
YouTube can be a great source of income for those who are willing to put in the effort to create quality content. It offers multiple ways to generate revenue, including sponsorships, affiliate marketing, and Google Adsense.
With the right approach, it’s possible to make $1000 or more per day on YouTube.
Remember, success on YouTube takes time and hard work, but the potential rewards are significant.
6. Selling on Amazon
Selling products on Amazon can be a highly profitable business opportunity.
Amazon FBA, or Fulfilled by Amazon, is a business model where you send your inventory to Amazon warehouses and they handle the rest, including storage, shipping, customer service, and returns.
This makes it a great option for digital nomads and those looking to scale their business quickly.
With an average profit margin of $20 per sale, it’s possible to make $1,000 per day by selling just 5 units per day of 10 different products.
7. Sell Printables Online
Selling printables online has become a popular way to make passive income.
With the rise of digital products, creators can sell anything from coloring pages to budget spreadsheets on platforms like Etsy. Thousands of creators make a living selling digital products, and it’s easy to see why.
Learn how these sellers got started.
The key is to pick a topic you’re knowledgeable in and passionate about, so you can create high-quality products that people will want to buy.
8. Dropshipping
Dropshipping is one of the best ways to make $1000 a day, especially for those looking to start a business with minimal initial investment.
This business model allows entrepreneurs to sell products to customers without ever holding a single piece of stock.
Dropshipping is a viable and profitable business model that can generate high profits without the hassle of managing inventory. With the right niche, platform, supplier, and marketing strategy, entrepreneurs can make $1000 a day or more with dropshipping.
9. Consulting
Consulting is one of the best ways to make $1000 a day!
It’s a lucrative career option that allows you to provide expert advice to clients and help them solve problems.
The first step to becoming a consultant is to determine your area of expertise. This could be anything from personal finance to marketing to human resources. Your expertise should be something that you have significant knowledge and experience in.
One of the most important aspects of becoming a consultant is building your network. This includes reaching out to potential clients, attending networking events, and connecting with other professionals in your field.
10. Become a Virtual Assistant
Being a virtual assistant can be a great way to make money while setting your own hours.
As a virtual assistant with no experience, you can work from home and typically on your own schedule. You can choose to work part-time or full-time based on your availability and the workload of your clients.
The tasks that you are asked to perform as a virtual assistant can vary widely, but commonly needed skills include administration, accounting and bookkeeping, marketing, communications, customer service, and many other capacities.
You don’t need special skills or training for this job, as most clients will bring you up to speed on what they need to do. However, having organizational, communication, and time-management skills can be helpful.
Check out the checklist to get started as a virtual assistant.
11. Side Hustles
Side hustles are a great way to earn extra income and supplement your regular income. With a little effort and some creativity, you can make up to $1000 a day with certain side hustles.
Here are some of the best side hustles that can help you achieve this goal:
Deliver food: You can make good money by delivering food with these apps. You can choose your own hours and work as much or as little as you want. DoorDash is a great option.
Drive with ridesharing apps like Uber and Lyft: If you have a car and some free time, you can earn money by driving people around. You can make up to $1000 a day, depending on how much you work.
Pet sit or walk dogs: If you love animals, you can make money by pet sitting or dog walking through Rover.com. You can earn up to $50 per day, depending on the services you offer.
Babysit or tutor: If you have experience with children or are good at a particular subject, you can offer your services as a babysitter or tutor through Care.com. You can make up to $50 per hour, depending on your qualifications.
Side hustles are a great way to make extra money and reach your financial goals.
12. Start a Business
Starting a business is one of the most effective ways to make 1000 dollars a day on a regular basis. However, it requires careful planning and execution to succeed.
The first step is to research the market and identify a profitable business idea and build it to profitability.
Challenges may arise, such as competition, financial setbacks, and marketing difficulties, but with persistence and determination, you can overcome them and achieve financial success.
The potential for significant financial gain from starting a successful business is immense, making it a worthwhile endeavor for anyone willing to put in the effort.
13. Yard Work
Yard work is an excellent way to make $1000 a day, especially if you have some extra time and don’t mind getting dirty.
If you want to get up and running quickly, there is nothing better than a local side hustle to earn extra money such as mowing lawns in your neighborhood.
Mowing lawns is not only a great side hustle for adults but also for teens. For an average size lot, you could expect to make at least $35. If you could line up a few lawns each weekend, you could easily make an extra $1000 each month.
Landscaping, leave pickup, and bush trimming are all simple tasks that you can complete quickly if you have the right equipment. You can choose to set an hourly rate or get paid for the entire job, depending on the task.
You may have to start hiring crews in order to hit $1k a day.
14. AirBnb or VRBO Rentals
Airbnb or VRBO are popular platforms for renting out your property to travelers.
Many successful hosts have earned $1000 or more per day because they have accumulated more than one property.
One tip for success is to garner excellent reviews that people want to come back time and time again.
15. Affiliate Marketing
Affiliate marketing is a lucrative way to make money online and has the potential to earn you $1000 a day.
This works well for influencers who have a reach of thousands of people. Another way is creating a niche website that focuses on a specific product or market segment.
It’s essential to promote products effectively to generate revenue. Successful affiliate marketers have earned six figures or more per year.
16. Flip Products or Retail Arbitrage
Retail arbitrage is a popular business model that can help you make $1,000 per day or more. The premise is simple – buy or find things cheap and resell them for a higher price.
This is a great example of how to flip money.
To be successful, you’ll need to have an eye for the right product and do product research to choose products that will sell.
Here is a list of the most popular items to flip.
17. Pickup Services
Pickup services refer to businesses that provide transportation and delivery services for goods, furniture, or other items. These services are in high demand, especially in urban areas where people are always on the move and need help with moving heavy or bulky items.
Starting a pickup service business requires some equipment, such as a truck or van, and marketing strategies to attract customers.
So, if you are looking for a new side hustle or business opportunity, consider pickup services as a viable option.
18. Casino Gambling
While casino gambling is not a recommended way to make $1000 a day, it is still worth mentioning as a potential option.
However, it is important to note that gambling should always be done responsibly and within one’s means.
If you are considering casino gambling as a way to make quick money, it is essential to understand the most profitable games and their strategies. Here is an ordered list of the best casino games to play to make money:
Blackjack: This game has one of the lowest house edges, making it a popular choice for professional gamblers. The objective of the game is to beat the dealer’s hand without going over 21. The key to winning at blackjack is to use basic strategy, which involves making the mathematically correct decisions based on the dealer’s upcard and your own hand.
Craps: This game has a low house edge and offers a variety of betting options. The objective of the game is to predict the outcome of a roll or series of rolls of the dice. To win at craps, it is essential to understand the different bets and their odds and to follow a betting strategy that suits your playing style.
Baccarat: This game is easy to learn and has a low house edge. The objective of the game is to bet on the hand that will have a total of 9 or closer to 9. The key to winning at baccarat is to understand the different bets and their odds and to follow a betting strategy that suits your playing style.
When playing these games, it is important to practice good bankroll management by setting a budget for yourself and sticking to it. It is also crucial to know when to quit to avoid losing money.
A winning streak can lead to making $1000 a day, but it is important to be cautious and not get carried away.
19. Freelance Graphic Design
Graphic designers create visual concepts using computer software or by hand to communicate ideas that inspire, inform, and captivate consumers. They work on various projects such as branding, marketing materials, website design, and more.
Freelance graphic design is a lucrative option because there is always a demand for graphic design services, and businesses are willing to pay top dollar for high-quality designs.
By building a strong portfolio, staying up-to-date with the latest design trends, and providing excellent service to your clients, you can earn a substantial income as a freelance graphic designer.
20. Make Money Flipping Items
Flea market flipping is a great way to make some extra cash on the side or even turn it into a full-time business. It involves buying items for a low price and reselling them for a profit.
One couple, Rob and Melissa Stephenson, have become full-time flea market flippers and even host their own website, Flea Market Flipper, to help others find success in the venture. They offer several courses to help individuals turn this into a serious side hustle or even a full-time business earning six figures.
Learning from successful flea market flippers like Stephenson’s can be a great way to get started. They have the skills and knowledge to help individuals find valuable items, network, and use social media and photography to their advantage.
21. Photography
Photography is a lucrative career option that has the potential to generate high income or as a side hustle.
There are different types of photography that one can explore to make money, including wedding photography, family photography, real estate photography, and stock photography.
By building a strong portfolio, networking, finding clients, investing in high-quality equipment, and constantly improving your skills, you can become a successful photographer and make a great income. Don’t underestimate your potential in this field.
22. Rental Income
Passive income through rental properties is a great way to generate consistent long-term income. Here are the steps to follow in order to make $1000 a day through rent income:
Find a suitable property: Look for properties that are priced reasonably, require minimal renovations, and are located in areas with high rental demand. You are likely to start making $1000 a month.
However, the earning potential is dependent on the ability to scale multiple properties, keep them occupied, and increase monthly income streams.
Investing in rental properties can be a lucrative and rewarding experience for those willing to put in the effort.
23. Amazon Merch
Amazon Merch is a platform that allows you to create and sell your own merchandise on Amazon. It’s an excellent way to make money because Amazon handles all of the heavy lifting, such as printing, shipping, and customer service.
Using Amazon Merch, you can sell a variety of products from t-shirts to phone cases, and best of all, you don’t need to invest in inventory or equipment.
All you need to do is create the designs.
Successful Amazon Merch sellers include graphic designers, artists, and entrepreneurs who have created unique and appealing designs that resonate with their target audience.
24. Creative Skills like Video Editing
Creative skills can be a valuable asset when it comes to generating income. Video editing is another skill that can be monetized.
With the rise of video content, businesses, and individuals are always in need of skilled video editors. One can offer video editing services for YouTube creators, and businesses, or even edit personal videos for clients.
Freelance platforms like Upwork and Fiverr are great places to find video editing jobs.
25. Fashion Design
Fashion design is one of the most lucrative ways to make money, and it’s an industry that’s always in demand.
Whether you’re interested in starting your own fashion label, working for a fashion house, or becoming a freelance designer, there are plenty of opportunities to make a living in this field.
Marketing yourself is also key to success in fashion design. Use social media platforms like Instagram and Pinterest to showcase your work and build a following.
Networking is also an important part of building a successful career in fashion design. You must stay up-to-date on industry trends, make valuable connections, and potentially land new clients or job opportunities.
Create a website or blog where you can share your designs, offer fashion tips, and connect with potential clients.
Pay attention to industry trends, stay creative and original, and focus on developing your skills and building your brand. Then, there are plenty of opportunities to make a living in this exciting and dynamic industry.
26. Start a Blog
Many people say blogging is dead. But, it’s not.
Starting a blog can be a great way to share your interests, skills, and experiences with others while also creating a new income stream for yourself. The flexibility of blogging allows you to turn your current job or passion into a successful blog.
However, starting a blog can be challenging, and it requires technical knowledge, writing ability, social media skills, and topical expertise.
Once you have started your blog, it’s essential to treat it like a business and monetize your content.
27. Self-Storage Business
Self-storage business is a lucrative venture that involves renting out storage units to customers who need extra space for their belongings. These businesses are in high demand, especially in urban areas where living spaces are often small and cramped.
In fact, the self-storage business is expected to bloom to $64.17 billion by 2026.
Starting a self-storage business can be a profitable venture if done correctly.
28. Invest in Cryptocurrencies
Cryptocurrencies have gained popularity as a potential source of significant income. Bitcoin, Ethereum, and Litecoin are some of the best cryptocurrencies to invest in.
To invest in cryptocurrencies, one must first set up a digital wallet and choose a reputable exchange such as Coinbase or Bitstamp.
It is important to research the market and understand the volatility of cryptocurrency before investing. While the potential for high returns exists, it is important to approach cryptocurrency investing with caution.
29. Invest in Real Estate
Investing in real estate can be a lucrative way of making money.
To make $1000 a day through real estate investing, there are several steps you can take.
First, set aside a few hundred dollars each month to invest in real estate over time.
Second, consider the different types of real estate investments available, such as rental properties, commercial properties, and fix-and-flip properties. Each investment type has its own advantages and disadvantages, so it’s important to research and choose the one that fits your financial goals.
Third, consider investing in real estate investment trusts (REITs) or crowdfunding platforms like Fundrise, which allow you to invest in real estate without purchasing a property.
Remember that investing in real estate carries a degree of risk, so it’s important to do your research and seek advice from successful real estate investors.
30. Make Money on the Internet
Making money online has become a popular option for those looking to earn a substantial income. The internet provides a wealth of opportunities for anyone with an internet connection and a bit of creativity.
You need to learn how to make money online for beginners.
There are so many options today and you never have to leave your house!
When it comes to making $1000 a day online, it’s important to acknowledge that it’s not a quick or easy process. It takes time and effort to build a successful online business or generate significant income through freelance work or other online opportunities.
However, with dedication and hard work, it is possible to achieve your financial goals.
How to make $1,000 really fast?
If you’re in a financial bind and need to make $1,000 quickly, there are several options available to you.
Here are the top ways to make $1,000 a day quickly:
Sell items on eBay or Craigslist: If you have items that you no longer need, consider selling them online. This could include clothes, furniture, or electronics. This is a quick and easy way to make money fast.
Offer freelance services: You can offer services such as tutoring, design work, or writing. If you have a specific skill or talent, you can find customers online who are willing to pay for your services.
Do odd jobs for people in your community: You can offer to mow lawns, rake leaves, or shovel snow for a fee. This is a great way to make money quickly, especially if you live in an area with a lot of homeowners.
Participate in paid focus groups or surveys: This is a great way to make money quickly without leaving your home. Companies are always looking for feedback on their products and services, and they are willing to pay for it.
Rent out a room in your home on Airbnb: If you have a spare room in your home, you can rent it out on Airbnb and make money quickly. This is a great option if you live in a popular tourist destination.
Manage social media accounts: Many businesses need help managing their social media accounts, and they are willing to pay for them. If you have experience with social media, this could be a great way to make money quickly.
Start a blog: If you have a passion for writing or a specific topic, you can start a blog and sell advertising space or products/services to your readers. This takes some time to build up, but it can be a lucrative way to make money in the long run.
Sell handmade crafts or goods online: If you’re crafty, you can make items and sell them online, such as on Etsy. This is a great way to turn your hobby into a money-making opportunity.
Borrow money from friends or family: This is not an ideal option, but if you’re in a bind and need money quickly, consider asking for a loan from someone you trust.
Pawn items for cash: This is a last resort option, but if you have items of value, you can pawn them for cash quickly.
Don’t be afraid to try different methods and see what works best for you.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
FAQ
Passive income is a form of earnings that is generated without active involvement.
It is a way to make money while you sleep and can provide financial stability and independence.
This is one of three types of income and the one you want to strive towards building.
Ultimately, the best side hustle for making $1000 a day is one that meets your needs and interests while providing a good return on investment.
Here are several factors to consider before choosing the best option.
Think about your skills, interests, and availability. If you have a full-time job, you may want to consider a side hustle that allows you to work flexible hours.
Next, consider the earning potential of the side hustle you are considering. Some side hustles pay more than others, and you want to choose one that will give you the highest return on investment.
Additionally, consider the start-up costs associated with the side hustle. Some require significant investment, such as buying a car for ride-sharing apps or purchasing an online course.
Most importantly, choose a side hustle that aligns with your passion and expertise. This will make the work more enjoyable and increase your chances of success.
There are many ways to make money from your expertise.
You can start a consulting business, offer services such as coaching or speaking, create and sell information products, or build a following and sell advertising or sponsorships. The possibilities are endless.
What’s important is that you start somewhere and then take action to turn your expertise into cash.
Ready to Make 1000 in a Day?
There are many ways to make money quickly and easily.
The best way to make money fast is to find a way that best suits your skills and interests.
Whether it’s graphic design, content creation, photography, or trading stocks, there are plenty of opportunities to turn your passions into profit. So, start honing your skills and explore the endless possibilities of the gig economy.
Learning how to make quick money in one day is possible. You just need to be determined and disciplined.
So, which method do you choose on how to make $1k a day?
Know someone else that needs this, too? Then, please share!!
