Many people on an H1B visa wonder whether they can take part in side hustles like driving for Uber, listing on Airbnb, buying rental property, getting Youtube ad revenue, investing in the stock market, etc. Here are 7 ways to earn upto $2000 every month, even as a beginner who has never done this before.
The first option is dividends. A dividend is a share of a company’s profits that are given out to shareholders. If you reinvest dividends and keep adding to your portfolio you can eventually build it out to a steady passive income source.
Second is Real Estate Investment Trusts (REITs). A REIT is a company that invests in income-generating real estate like apartments, malls or hospitals. This is an attractive option for Internationals who want a piece of the real estate market but don’t want to tie their capital down long term. They offer everyday investors indirect exposure to real estate, without the hassles of having to directly manage it.
Third is High Yield Savings Accounts. It pays 20 to 25 times the national average of a standard savings account and is typically online. This is one of the best places to store your emergency fund and stay ahead of inflation. Try out Marcus HYSA here for bonus rates: https://www.marcus.com/share/ARJ-6G7-TANG
Fourth is Turo which is a peer to peer car-sharing company. When you’re not using your vehicle, you can rent it out to other Turo members for some extra cash. It’s like Airbnb, but for cars.
Fifth is Carpooling through apps like Waze Carpool and Scoop. The reason carpooling is allowed is because these companies don’t actually pay you to drive, rather it's a reimbursement for expenses like gas, tolls, and parking. Here is the signup link for Waze if you want to get started: https://waze.app.goo.gl/f79tW
Sixth is Short Term Rentals through Airbnb and Vrbo. If you live in your own house or an apartment whose landlord allows this, this is a great option to make additional income. Make sure you don’t play an active role in managing the bookings.
Finally, we come to rental properties. Yes, you can invest in rental property, but you cannot quit your job and start a real estate business. If you find yourself spending too much time managing the property and tenants, a property manager is a good idea.
With that said, never overdo any of these to a point that it looks like an active job. With such a major focus on America’s Immigration program, you don’t want to be on the wrong side of the authorities. Follow the rules and you could be making a sizable amount of extra income while you sleep even on an H1B visa.
DISCLAIMER: The advice provided in this video is for informational/entertainment purposes only. The creators take no responsibility for any actions or decisions you may take based on the contents of the video. Please consult a professional for strategies related to your specific needs.
DISCLOSURE: Some of the links in this description are promo links, meaning that I may receive a small commission when you sign up for these services.
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