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A TIKTOKER shared a side hustle that can pay $1,000 monthly without startup costs.
Side hustles have become popular for teens to make money without sacrificing too much time from school.
This TikToker said teens can make $1,000 a month searching for houses for investment companies[/caption]
He said companies pay $500 to $1,000 to help them find the properties[/caption]
Being able to start saving money younger can put youngsters ahead of their peers in multiple ways.
A real estate pro shared a simple side hustle that can give teens an early entry into the industry.
King Khang (@realkingkhang) said teens can make $1,000 or more monthly by scouting out rundown houses in their neighborhood.
In a TikTok video, he explained that he would copy down the addresses and then go to a site like Craigslist to find local “We Buy Houses” investing companies.
“Pick one or two of them that you want to work with…and call them up and say, ‘Hey, I want to be your bird dog,’” he said.
“Which means, you’re out there, you find these rundown houses, you send the address over to them, and they do the rest of the work.”
Typically, companies will pay between $500 and $1,000 for each property they close on, Khang said.
“It doesn’t cost you any money, you don’t need to have a license, and you don’t need to have any real estate experience,” he said.
In the comments, others suggested looking for nearby properties using Google Maps Streetview.
They can also search for foreclosed properties to pitch to local investors.
MOW MONEY
Another popular side hustle for teens is landscaping.
Logan Ski, a self-proclaimed finance expert, said youngsters could make $3,000 a year without leaving their neighborhood.
“It’s the perfect side hustle because you get paid immediately after finishing the job, you can do multiple jobs per day, and it’s easy to get repeat clients,” he said in a YouTube video.
Some teens may be able to get started for free if their parents or neighbors have equipment they can use.
Side hustles and tax implications
The extra income made from side hustles may need to be reported to the IRS.
If you receive more than $600 in gross payouts from a selling platform like eBay, the site will issue you a Form 1099-K to use in your tax return.
Individuals should calculate their adjusted gross income, taxable earnings, and deductions for the year.
Once they have that, they can use the 1040-ES form to calculate estimated taxes.
Ski suggested charging between $40 and $70, about 50% less than most professional landscaping companies.
Having just one client’s lawn that gets mowed every week will earn someone $3,640 if they charge $70.
Mowing a lawn takes about an hour on average, so doing multiple lawns in one day is easy.
In the comments, a 14-year-old viewer said they had been doing this side hustle for about a year and a half and earned nearly $6,000.
“We charge around $25 per lawn (although it can differ depending on lawn size and length of grass). Extremely cheaper than the companies, but we have over 20 repeat customers, so we’re not lacking in money,” they wrote.
Selling snacks is another popular side hustle and easy to do at school.
And see the scooter side hustle that can earn you $700 daily.
