Surprise! Building A Home Is Now Cheaper Than Buying An Existing House In 2023

  • Lumber prices has plummeted more than 60% last year.
  • Labor costs are higher for fixer-up home projects
  • Less labor cost on semi-custom builds this year
  • An acre of land has stabilized to less than 7k per acre in many prime locations

Why buy someone else’s idea of a home when you can have one built for you with your needs in mind? Most homes in the U.S. are over 30 years old. Some are over a century old, and prices are still appreciating in coastal states like Florida and California. The cost of maintaining and upgrading these homes can be an ongoing headache from the moment you purchase them. For many, the best option is to have a brand-new home built. But at what cost? Isn’t buying land and building a home more expensive than buying an existing home?

Lumber prices are 66% lower than last year

Remember the headlines just over a year ago? Lumber prices were so high that people were looking for other materials to build fences. Well, the cost of lumber plummeted in the middle of last year to $400 per 1,000 board feet, from $1,160. It has been a major change among home-building commodities. According to HomeAdvisor, building materials can cost 30%-50% of a home-building project. Lumber generally makes up 14%-18% of the cost of a house and is the single largest item that affects the bottom line.

According to Greg Kuta of Westline Capital, labor costs have risen in the United States for both maintenance and home-building labor, but the cost of maintaining or upgrading a home over 25 years old has risen 13% overall, while the labor to build homes has only risen 6% in the last two years. This affects the overall costs.

How to finance a new home build

You can finance a new build, but not quite in the same way as if you were buying an existing property. Instead of a mortgage, you’d take out a home construction loan—a short-term, higher-interest loan that provides the upfront capital needed to build a residential property. Borrowers give building plans, project timelines, and financials up front, and loan terms are usually one year. During this time, the house should be completed and an occupancy permit issued.

Borrowers usually pay interest only on the loan during the construction of the home. Once the building of the house is complete, the remaining principal balance is turned into a regular mortgage.

Construction costPrice range
Buying land$3,000-$150,000
Clearing land$1,500-$5,100
Framing$20,000-$50,000
Plumbing installation$7,500-$15,000
Electrical wiring$20,000-$30,000
HVAC$1,500-$13,000
Foundation$4,000-$25,000
Roofing$5,700-$12,000
Windows$3,000-$9,600
Exterior painting$1,800-$4,400
Interior finishing$50,000-$175,000
Source: HomeAdvisor

Best reasons to build a home

Avoid competing with other offers  There is no need to negotiate with other homebuyers when you build your own home. 2021 saw a difference of up to 20% higher than the asking prices. In addition, the lack of competitive bidding means that you won’t need to worry about spending too much.

Get what you really want – You can customize what you build. Instead of wishing your home had a certain type of flooring, a separate office entry, or some other special feature, you’ll be able to customize it to your exact specifications. You also won’t be limited to a specific neighborhood or location.

Wider market appeal – Ultimately, your house is an asset, and when the time comes to sell, a modern construction might provide you with a competitive edge.

Move-in ready – When your home is brand-new, you should not have to worry about costly repairs (at least at the outset). In the first year, the builder’s warranty should cover anything that may emerge.

Demolishing An Existing House? – In most cases, demolition will cost between $4 and $10 per square foot. On average, a moderate tear-down costs between $6,000 and $25,000. You should anticipate paying between $125,000 and $450,000 to demolish and rebuild the house.

Challenges:  Delays, miscommunication, and problems with subcontractors — there are plenty of hiccups that can happen while building a home. Make sure you understand your builder’s work approach and timeline and be prepared for a few speed bumps. Include the time of essence, continuous manning and right-to-remove clauses in your contract with the pro you hire — this can help protect you in the event of delays or non-performance.

Armand Lucas
Armand Lucas

Serial entrepreneur and writer for Millennial Entrepreneur, RelyOnPros, NY Style Magazine and HomeRestored.com

The Future of Work: From Gen-Z High Wages to Retiree Comebacks

  • Routine and mundane jobs are being eliminated by Smart Arms
  • Alternative work: A.I. and Social Media are creating Gen-Z and Millennials $200k+ jobs.
  • Ultra-efficient factories are eliminating more jobs in Asia and bringing them closer to the U.S.
  • Flexible job opportunities for retirees are fluctuating.

Surprise! This article was 30% created using artificial intelligence tools like ChatGPT and Grammarly. These writing tools have cut down the time it takes for me to create an article, and they boost my productivity. But what does this have to do with fast food jobs or mundane, monotonous work, you ask? Don’t worry, We’ll get to that soon enough.

Sitting down in front of a blank screen to write an article from scratch is no different than using a hammer as your only tool to work as a carpenter. We’ll all realize soon enough that A.I. tools are here to stay to either enhance our productivity or to compete in just about every industry, no matter your age, schooling, or lack thereof.

Of course, millennials, and especially Gen-Z, are more accepting of the changes that robots, apps and A.I. tools have made to mundane or routine tasks. Artificial intelligence is being used to improve workflow for salaried and hourly paid workers, as well as entrepreneurs who want to be more efficient without the mind-numbing monotony. Gen-Zs are wondering why it’s taking so long to implement what is readily available and are ready to jump ship and create their own micro businesses. It’s not surprising why a large portion of them are becoming social media managers, with great success, and making upwards of $200k+ per year.

Here are some statistics;

  1. According to a Deloitte survey, 72% of millennials believe that automation will make their jobs more efficient.
  2. A study by Accenture found that 63% of millennials believe that automation will free up more time for them to focus on higher-value tasks.
  3. A Gallup poll revealed that 59% of millennials prefer to use apps and digital tools to communicate with their colleagues and managers, as opposed to face-to-face or over the phone.

One industry that is seeing the effects of robotics is the fast food industry. Restaurants are using robots to handle tasks such as cooking, serving food, and even taking orders. This not only helps employees by reducing the amount of physically demanding tasks, but it also helps employers by reducing labor costs. According to a study by the consulting firm McKinsey, the use of robots in the fast food industry could result in cost savings of up to 20%.

Eliminating Dangerous Fast Food Work

A.I. is also playing a growing role in the future of creative work. A.I. tools are being used to assist with tasks such as creating videos, schedules, presentations, and emails. There are several apps available that make use of A.I. for these purposes, including Rewind, Runway, Descript, and Compose AI. These apps can help individuals and businesses save time and money by automating repetitive tasks, allowing them to focus on more important work.

Gigafactories are the new light industry way of production

Tesla’s Gigafactories, just like Henry Ford’s Model T assembly line a century ago, drastically changed the way workers manufactured cars by using next-level efficiency. Expect to see the same for other manufacturers of goods who realize that their employees do not have to make up the bulk of their expenses. China used to have an extremely cheap labor force that the world relied on, but now, robots can do the mundane work in Gigafactories; human workers are the problem solvers and flex workers when quick changes need to be made, meaning the U.S. and other countries can rely on their own workforce.

30 Side Hustles That Can Pay The Rent Next Month

Retirees will be asked to come back to the workforce

With all these advancements, the workforce is still shrinking too fast! Generation X and Boomers are retiring way faster than they can be replaced. In certain areas of the U.S., McDonald’s employees are making up to $32 an hour to take on busy and late-night shifts that are hard to cover because of staffing issues. This is another reason why every industry has to discuss the near future implementation of robotic labor and supplement with retirees now.

Smart arms or one-ligament robots can do mundane, routine or even dangerous work freeing up workers to do more meaningful jobs

While these advancements in technology have the potential to greatly benefit both employees and employers, it is important to consider the potential consequences. It is possible that the increased use of robots and A.I. could lead to job loss for some individuals, particularly in industries where tasks can be easily automated. As such, it is important for individuals to continuously update their skills and stay informed about the latest advancements in technology to ensure they are well-prepared for the future of work.

In conclusion, the future of work is rapidly changing and will have a significant impact on teenagers, young adults, and retirees. Robotics and A.I. are playing a growing role in many industries, with fast-food restaurants being just one example. These advancements can help employees and employers by reducing labor costs and automating repetitive tasks, but it is important to consider the potential consequences and stay informed about the latest advancements to ensure a smooth transition to the future of work.

Armand Lucas
Armand Lucas

Serial entrepreneur and writer for Millennial Entrepreneur, RelyOnPros, NY Style Magazine and HomeRestored.com

30 Fast Side Hustles That Can Pay Next Month’s Rent With Little to No Investment

Never put yourself in debt by starting a business! Create a side hustle that can pay the rent and quickly get you on the road to stability and possible growth. Take it from someone who has created businesses for over 20 years, starting a business can be a daunting task, especially if you don’t have a lot of money to invest. However, it is possible to start a successful business with little to no upfront costs. In this article, we will explore 30 micro business ideas that you can start with little to no money.

For a definition, a micro business is just a steady and long-term form of a side hustle. From social media management to personal styling services, these ideas are perfect for entrepreneurs looking to break into the business world without breaking the bank. Whether you’re looking for a full-time venture or a side hustle, these micro business ideas are a great place to start.

Dog walking/pet sitting business: (Up To $145 Per Day). Ok, This one surprised me more than any micro business on the list! After interviewing dog walkers in different neighborhoods, I found out that some of them are making up to $900 a week, part-time! You can start a dog-walking or pet-sitting business for very little money. Believe it or not, it’s not just for upscale neighborhoods. There are not enough dog walkers to go around. Period.

Platforms like Wag are constantly giving out incentives to keep dog walkers on their platform because so many acquire their own clients after just a few months of using the app. You may need to invest in a few supplies, such as a leash, dog bags, and a water bottle, but these items can be purchased for a low cost. Social media, word of mouth, business cards, and dog-walking platforms like Wag are great ways to get started.

Virtual assistant services: (Up To $225 Per Day) As a virtual assistant, you can provide a variety of services, such as scheduling, email management, and data entry to clients remotely. The $65 per hour rating is based on you handling several clients at once. Provide an affordable service by the day or hour. Subcontract tedious work to online platforms. This will free you up to tackle time-sensitive matters for your clients. You can start this business with little to no money by using a computer and internet connection that you already have and finding clients through online job boards or by networking with other small business owners.

Social media management: (Up To $425 Per Day) If you have experience with social media and a passion for helping businesses improve their online presence, you can start a social media management business with little to no money. You can use free tools such as Hootsuite and Canva to manage and create content for your client’s social media accounts, or you can have a professional create and run the business for you for a few dollars a month.

Graphic design: (Up To $400 Per Day) As a graphic designer, you can create visual content such as logos, websites, and marketing materials for clients. You can start this business with little to no money by using free design software such as Canva or Inkscape. I personally use a platform to subcontract the jobs I receive. Finding clients through online job boards or by networking with small businesses in your area is so 1990s. Show off your work on social media and offer it at phenomenally low prices in the beginning, then gradually raise them once you can no longer take on any more customers.

Freelance writing/editing: (Up To $1,200 Per Day) I know! $1,200 per day sounds incredibly suspect, but writing for blogs, advertisers, and others happens to be the most profitable business on this list. If you have a passion for writing and editing, you can start a freelance business with little to no money. You can pretty much use your phone or a computer with an internet connection that you already have. Use free grammar-correcting software like Grammarly. Also, the free (for the time being) online software ChatGPT can pretty much write a blog post or an ad for you. Just add your own color comments, and you’re done in just a few minutes. Finding writing and editing work is easy because everyone needs something written or rewritten. Online job platforms can help you find work quickly, but you should also be able to reach out to small businesses and bloggers in need of content.

House cleaning: (Up To $170 Per Day) You can start a house cleaning business with minimal upfront costs by investing in cleaning supplies such as a vacuum, mop, and cleaning products, which can be purchased for a low cost. As a consultant for micro businesses, I’ve seen people start one month, and the next month, they are totally booked by crafting social media posts for after-party and event clean-up services, as well as disaster clean-ups.

Lawn care: (Up To $280 Per Day) To start a lawn care business, you may need to invest in some equipment such as a lawn mower, edger, and leaf blower, but these items can be purchased or rented for a low cost. Offer scaled prices to attract customers who find professional yard work too expensive. You can advertise your services on social media, but word of mouth about your great starting price will get you the customers you’re looking for very quickly.

Personal shopping/errand running: (Up To $175 Per Day) If you go one step beyond and deliver groceries and place them in the refrigerator and cabinets yourself, You’ll have several customers sign up in a matter of days because ice cream melts in the sun when groceries are just dumped at the front door. If you have a reliable car and some spare time, you can start a personal shopping/errand-running business with little to no money. Charge a percentage of the grocery price or have a minimum price for one or more items. You can let people know about your services on social media, and for very little money, you can have a personalized app created for you that can beat what Instacart and other platforms offer. This can be more beneficial to you and your customers’ pockets.

Event planning: (Up To $300 Per Day) If you have a passion for event planning and an eye for detail, you can start an event planning business with little to no money. You can use a computer and internet connection that you already have to research vendors, create event timelines, and communicate with clients. You can find event planning work by networking with small businesses and individuals in your community or by creating a profile on an online platform such as Eventbrite.

Handyman/handywoman services: (Up To $600 Per Day!) If you have experience with home repairs and maintenance, you can start a handyman/handywoman business with minimal upfront costs. You may need to invest in some basic tools such as a drill, screwdriver set, and hammer, but these items can be purchased for a low cost. You can advertise your services on social media. For some reason, Facebook, not Instagram, is the best social media tool to reach customers. In this business, word of mouth is king, and it will have a much greater impact than distributing flyers in your local community.

Tutoring: (Up To $180 Per Day) If you have expertise in a particular subject or are skilled at teaching, you can start a tutoring business with little to no money. You can use a computer and internet connection that you already have to offer online tutoring services or you can meet with students in person at a location convenient for both of you. You can find tutoring work by networking with parents and students in your community or by creating a profile on an online tutoring platform.

Online tutoring/teaching: (Up To $160 Per Day) If you have a passion for teaching and are comfortable using video conferencing software, you can start an online tutoring or teaching business with little to no money. You can use a computer and internet connection that you already have to offer your services and find work on online tutoring platforms or by networking with schools and educational institutions.

Website design: (Up To $480 Per Day) If you have experience with web design and development, you can start a website design business with little to no money. You can use free design and development software such as WordPress and GitHub to create websites for clients and find work on online business-to-customer platforms like Fiverr or by networking with small businesses in need of a website.

Blogging: (Up To $650 Per Day) If you have a passion for writing and a particular subject matter, you can start a blog with little to no money. You can use a free blogging platform such as WordPress or Blogger to create your blog and monetize it through advertising, sponsorships, and affiliate marketing. In the beginning, Google Ads and other similar platforms won’t make you a lot of money until you have thousands of people reading your blog. It’s better to use affiliate marketing where you can make a significant amount of money per referral while having just a few visitors to your blog site. If You are not familiar with blogging and would like to learn at your own pace, try starting here.

Social media consulting: (Up To $375 Per Day) If you have experience with social media and a passion for helping businesses improve their online presence, you can start a social media consulting business with little to no money. You can use a computer and internet connection that you already have to offer your services. I definitely recommend using a platform where you can hire graphic artists that specialize in social media advertisement and find work through networking with small businesses or by creating a profile on a consulting platform.

Personal training/fitness coaching: (Up To $240 Per Day) If you have experience in the fitness industry and are comfortable working with clients in a one-on-one setting, you can start a personal training or fitness coaching business with little to no money. You can use a local park or gym to train clients and advertise your services on social media, through word of mouth, or by distributing flyers in your local community.

Personal styling/wardrobe consulting: (Up To $225 Per Day) If you have a passion for fashion and enjoy helping others curate their wardrobe, you can start a personal styling or wardrobe consulting business with little to no money. You can use a computer and internet connection that you already have to research trends, communicate with clients, and create mood boards. You can find styling work by networking with individuals in your community or by creating a profile on a styling platform.

Photography: (Up To $450 Per Day) Think outside of the box and you will have a calendar filled with clients. If you have a passion for photography and a good eye for composition, you can start a photography business with little to no money. You can use a camera and editing software that you already have to offer your services and find work through networking with small businesses or by creating a profile on a photography platform. Offer extra services like album covers, movie and video posters, and social media Influencer packages.

Online courses/workshops: (Up To $350 Per Day) This is by far one of the most lucrative micro businesses you can run. If you have expertise in a particular subject or skill, you can create and sell online courses or workshops with little to no money. You can use a computer and internet connection that you already have to create and deliver your course content and find students through your own marketing efforts or by creating a profile on an online course platform.

Resume writing: (Up To $160 Per Day) If you have experience in career development and are skilled at crafting effective resumes, you can start a resume-writing business with little to no money. You can use a computer and internet connection that you already have to offer your services and find work through networking with job seekers or by creating a profile on a job search platform.

Translation services: (Up To $145 Per Day) If you are fluent in multiple languages, you can start a translation business with little to no money. You can use a computer and internet connection that you already have to offer your services and find work through networking with small businesses or by creating a profile on a translation platform.

Detailed vehicle cleaning to washing

Car detailing: (Up To $400 Per Day) If you have experience with car maintenance and enjoy working with your hands, you can start a car detailing business with minimal upfront costs. You may need to invest in some supplies such as car wax, polish, and cleaning products, but these items can be purchased for a low cost. My neighborhood detailer started off by detailing just one car a week. With permission, she took ‘Before and After’ photos of the interior and exterior of the vehicles and loaded them up on Instagram. Now you have to set up an appointment to drop off your car to her for her specialized detailing.

Mobile hair/nail services: (Up To $420 Per Day) If you are a licensed cosmetologist, you can start a mobile hair or nail services business with little to no money. Mobile barbers, hair stylists and nail specialists can handle 1 to 4 clients at a home and charge a higher mobile fee than in a salon. You can use the tools and products that you already have to offer your services and find work by networking with salons and spas or by creating a profile on a beauty services platform.

Personal chef/meal prep services: (Up To $165 Per Day) This is one of my favorite micro businesses for ‘gym rats’ to start. If you have experience in the culinary industry and/or enjoy cooking, you can start a personal chef or meal prep business with minimal upfront costs. You may need to invest in some basic kitchen equipment such as pots, pans, and utensils, but these items can be purchased for a low cost. You can advertise your services on social media, through word of mouth, or by distributing flyers and business cards at your local gym. Have your friends try meals for free and watch them make orders on the spot. Almost everyone hates to prep their meals even though they know they should do it.

Gardening/landscaping: (Up To $165 Per Day) This is another one that can be very profitable if you think outside of the box. If you have a green thumb and enjoy working outdoors, you can start a gardening or landscaping business with minimal upfront costs. There’s more you can do than just maintaining manicured yards. You can teach gardening techniques along with building miniature greenhouses for apartments and small homes. You may need to invest in some basic equipment such as gloves, a shovel, and a wheelbarrow, but these items can be purchased for a low cost. You can advertise your services on social media, through word of mouth, or by distributing flyers in your local community.

Food delivery: (Up To $200 Per Day) If you have a reliable car and are comfortable driving, you can start a food delivery business with little to no money. You can sign up to be a driver for a food delivery platform such as Grubhub or Uber Eats and use your own car to make deliveries. You can also create a delivery service with your very own app for a few dollars more and recruit other delivery drivers to join you.

Furniture refinishing: (Up To $275 Per Day) If you have experience with woodworking and enjoy restoring old furniture, you can start a furniture refinishing business with minimal upfront costs. Down the street from me, my neighbor Caroline, buys, refurbishes and repairs furniture. Every so often, she’ll have a yard sale for items that are not yet sold and easily make $3k in one weekend. You may need to invest in some basic tools such as sandpaper, paint, and brushes, but these items can be purchased for a low cost. You can advertise your services on social media, but word of mouth, in this business will get you very far.

House sitting: (Per Day Varies) The reason why this is on the list is. you can make money passively, house sitting while making money with other endeavors. If you are responsible and reliable, you can start a house-sitting business with little to no money. My nephew house-sits for me while he works on his graphic novel. My dog Jack adores him and they are inseparable when they are together. I feel better knowing that my dog has company when I’m traveling. Since I trust him, I’ve been spreading the word about his house-sitting. Now he gets paid to house-sit and watch over other homeowner’s homes and pets while he works on his passion projects. He’s thinking about advertising his services on social media and through word of mouth. I’ll give an update on how that’s working out for him soon.

Home organization: (Up To $375 Per Day) If you have a knack for organizing and decluttering, you can start a home organization business with little to no money. TV shows like “Tidying Up With Marie Kondo” which was a big hit on Netflix, have made this type of business more respectable and profitable. This is another great service to advertise on social media or through word of mouth.

Personalized gift-making/gift baskets: (Up To $120 Per Day) This may seem a little hokey in this day and age but you’ll be surprised how much work you can get because of Amazon. People purchase gifts for their loved ones but don’t want to present them in an Amazon box. If you have a creative streak and enjoy making handmade items, you can start a personalized gift-making or gift-basket business with minimal upfront costs. People can drop off their gifts or have them sent directly to you via mail. You may need to invest in some basic supplies such as wrapping paper, ribbons, and boxes, but these items can be purchased for a low cost. Advertise your services on social media. As in other businesses listed here, word of mouth is king.

Armand Lucas
Armand Lucas

Serial entrepreneur and writer for Millennial Entrepreneur, RelyOnPros, NY Style Magazine and HomeRestored.com

Why Creating A Micro Business Is Better Than Starting A Small Business

  • A Micro Business will always have a higher return on investment than a funded small business.
  • You can start with zero dollars and very little marketing.
  • Hourly profits can be as high as $300 an hour.
  • Websites, Coaching, Repair Services and Catering are some of the most lucrative micro businesses to start.

In most cases, a failed small business is really a profitable micro business. It’s all about how much time and resources you put into it. According to the Small Business Association, A micro business, also known as a micro-enterprise, is a small business that typically has fewer than five employees and generates less than $50,000 in annual revenue.

In my opinion, a micro business is just another word for the phrase, “side hustle”. While it may not be as ambitious as starting a full-fledged small business, there are several reasons why creating a micro business may be a better option for most people.

Micro Businesses Have A Higher Return On Investment

For the very little amount of capital and resources you need to put into a micro business, the returns are phenomenal. You can start a micro business for little to nothing because you may already have the resources you need to get started. Second, starting a micro business allows for more flexibility and freedom. With fewer employees and a smaller revenue stream, you have the ability to be more agile and make quick decisions without the added pressure and bureaucracy of a larger business. This allows you to carve out your own path and do things on your own terms.

In addition, the cost of starting and maintaining a micro business is often much lower than that of a small business. You won’t have to worry about the overhead expenses of a physical storefront or the financial burden of hiring and training a large staff. This makes it a more feasible option for those just starting out or testing the waters of entrepreneurship.

Another benefit of a micro business is the opportunity to specialize and differentiate. In today’s crowded market, it can be difficult for small businesses to stand out. However, by focusing on a specific niche or offering unique products or services, a micro business can differentiate itself and attract a loyal customer base.

Hourly Profits Can Be As High As $300 An Hour

Most “side hustles” or micro businesses only require a few to 40 hours a month to run. Some home bakeries, consulting businesses, coaching services, appliance repair services, and other businesses make between $35 and $300 per hour. Blogging websites are the perfect micro business because, once they are built, they can make money with very little maintenance. Furthermore, because they use advertisements and affiliate marketing, it is a more passive income.

Finally, micro businesses often have a stronger sense of community and connection with their customers. As the owner and operator of a micro business, you have the opportunity to build personal relationships with your clients and offer a level of personalized service that larger businesses may not be able to provide.

In conclusion, starting a micro business may not be for everyone, but it can be a rewarding and fulfilling option for millennials looking to take control of their careers and make a name for themselves in the business world. If you have a passion or talent that you want to turn into a business, consider starting a micro business and see where it takes you.

Armand Lucas
Armand Lucas

Serial entrepreneur and writer for Millennial Entrepreneur, RelyOnPros, NY Style Magazine and HomeRestored.com

5 Ways to Turn Your Old Car into a Passive Income Machine

Are you looking for ways to earn passive income from your old car? Look no further! Here are five creative ways to make money from your vehicle without putting in too much effort:

Rent Out Your Vehicle To Rideshare Drivers

If your car has seen better days and appears worn, but it still runs well, you should rent it out through HyreCar: This service allows you to rent out your car to ride-sharing drivers that make deliveries for services like DoorDash and Uber Eats when you’re not using it. By signing up with HyreCar, you can earn passive income from your car without having to do much work. The amount you can earn will depend on the demand for your car in your area and the duration of the rental period. On average, car owners on HyreCar can earn around $500 to $1,000 per month. Liability insurance to cover any damages to your vehicle while it’s being driven by someone else is included.

Rent Out Your Vehicle To high-end Drivers

If your car is 12 years old or less and in pretty good condition, then placing it on Turo is the way to go: Turo is a peer-to-peer car rental platform that allows you to rent out your car to travelers and tourists in your area. This can be a good way to earn passive income from your car, especially if you live in a popular vacation destination. The amount you can earn will depend on the demand for your car in your area and the duration of the rental period. On average, car owners on Turo can earn around $600 to $1,200 per month.

Renting out your car as a film prop

If you live in an area with a thriving film industry, you may be able to rent out your car as a prop for movies and television shows. This can be a good way to earn passive income from your car without having to do much work. The amount you can earn will depend on the demand for your car in your area and the duration of the rental period. On average, car owners who rent out their cars as film props can earn around $200 to $700 per month.

Special Event Renting

Renting out your car for special events: You may be able to rent out your car for special events like weddings, proms, and other formal occasions. This can be an excellent way to earn passive income from your vehicle, especially if you live in a popular event destination. The amount you can earn will depend on the demand for your car in your area and the duration of the rental period. On average, car owners who rent out their cars for special events can earn around $200 to $650 per month.

Wrap Your Car In Ads and Get Paid To run Your Own Errands

Renting out your car as an advertising space: You may be able to earn passive income from your car by renting out the space on it as an advertising platform. Companies may be willing to pay to have their advertisements displayed on your car as you drive around town. The amount you can earn will depend on the demand for your car in your area and the duration of the rental period. On average, car owners who rent out their cars as advertising spaces can earn around $2500 to $1,300 per month.

As you can see, there are many creative ways to make passive income from your old car. Whether you’re interested in renting it out through HyreCar, Turo, or as a film prop or special event vehicle, there are plenty of options to choose from. So why not put your car to work and start earning passive income today?

Armand Lucas
Armand Lucas

Serial entrepreneur and writer for Millennial Entrepreneur, RelyOnPros, NY Style Magazine and HomeRestored.com

The Rise of Social Entrepreneurship: How to Make a Difference and a Profit

The rise of social entrepreneurship has been a defining trend of the past decade. More and more millennials are seeking ways to make a positive impact on the world while also pursuing financial success. This movement has given rise to a new generation of businesses that prioritize social and environmental responsibility alongside profitability.

Social entrepreneurship refers to the practice of using entrepreneurial principles to create positive change in society. This can take many forms, from creating new products or services that address social or environmental problems, to using business models to support underserved communities or promote sustainability.

One of the key reasons for the rise of social entrepreneurship among millennials is a desire to make a difference in the world. Many young people are frustrated with traditional institutions and systems that they perceive as ineffective at addressing pressing social and environmental issues. By starting their own businesses, they can take matters into their own hands and create solutions that they believe will have a real impact.

Another reason for the popularity of social entrepreneurship among millennials is the rise of the gig economy. In recent years, the traditional 9-to-5 job has become less and less common, and many young people are seeking alternative ways to earn a living. Social entrepreneurship offers a way to make a profit while also doing something that is meaningful and fulfilling.

So how can you get involved in the world of social entrepreneurship? One of the best ways is to identify a problem or need that you are passionate about and find a way to address it through a business model. This could be anything from creating a product that reduces waste or promotes sustainability, to providing services that support underserved communities.

Once you have identified a problem to address, the next step is to create a business plan and start building your venture. This will require research, networking, and a willingness to learn and adapt as you go. It’s important to remember that starting a business, especially a socially-focused one, can be challenging. But the rewards can be great, both personally and in terms of the positive impact you can have on the world.

In conclusion, the rise of social entrepreneurship among millennials is a reflection of a desire to make a difference in the world and pursue fulfilling careers. By identifying a problem or need and creating a business model to address it, young people can create positive change and profit at the same time.

Christian Hathaway
Christian Hathaway

Social entrepreneur and writer for Millennial Entrepreneur and RelyOnPros,

Everything crashes: Why Diversifying Your Income is More Important Than Ever

In hindsight, every bubble that formed before a market crash seemed obvious to us now in the present. It’s the promise of a very profitable and quick return that blinds us to the dangers of a sudden steep downturn. All types of markets and commodities are subject to the forces of supply and demand, and like any other system, they can become unbalanced.

When this happens, prices can become inflated, and eventually, a crash can occur. One well-known example of this is the Tulip Crash of 1636, in which the price of tulip bulbs in the Netherlands reached extremely high levels before collapsing suddenly.

Courtesy of the Smithsonian Magazine

The Tulip Crash of 1636 is often cited as one of the earliest examples of a speculative bubble in history. Tulip bulbs were highly prized by the wealthy in the Netherlands during this time, and the demand for them led to a rapid increase in their prices. However, this demand was not sustainable, and eventually, the bubble burst, causing the prices of tulip bulbs to plummet. This crash had a significant impact on the economy of the Netherlands and serves as a cautionary tale of the dangers of speculation in markets.

Another example of a market crash can be seen with the rise and fall of the value of Bitcoin. In the early 2010s, the value of Bitcoin began to rise rapidly as more and more people became interested in the cryptocurrency. This surge in demand caused the price of Bitcoin to skyrocket, leading many to believe that it was a safe and lucrative investment. However, as with any market, the value of Bitcoin is subject to the forces of supply and demand, and in 2017, the bubble burst, causing the value of the cryptocurrency to plummet.

The crash of Bitcoin is a reminder that no market is immune to the risks of speculation and overinflation. While it is possible for investors to make significant profits in the short term, it is important to consider the long-term stability of any investment. The Tulip Crash of 1636 and the crash of Bitcoin both demonstrate the dangers of allowing markets to become unbalanced, and the importance of maintaining a stable and healthy economy.

Armand Lucas
Armand Lucas

Serial entrepreneur and writer for Millennial Entrepreneur, RelyOnPros, NY Style Magazine and HomeRestored.com

An Entrepreneur’s Journey As A Therapist And “Momager”

Sometimes entrepreneurs are molded by their experiences in life. It’s not always wished for, but one must stay sane in one’s surroundings. Amy S. Horne understands why she chose to be a private practice therapist as well as a manager in her son’s modeling and acting career.

Amy S. Horne, LCMHC, LCASA, CIMHP, MFT

When asked about her journey, Amy has a direct response. “I feel that my experiences make me the perfect therapist because I’ve lived through abuse, spouse addictions, military life, one horrible divorce and death, as well as a somewhat friendly divorce”. I think my family was speechless at that moment because no one said anything. So I took their doubt and shoved it where it belonged.”

When we requested an interview with Amy, she was honest and open about her struggles and triumphs as an entrepreneur who picked up the pieces and forged a life of giving to her patients and family.

What motivated you into starting a private practice and becoming a manager in your son’s career? – When I was married to a Military officer(Cole’s Dad), I was asked to talk with soldiers and their families as a family readiness leader, and I kept dealing with suicidal soldiers and helping with marriages. My ex-husband’s Lt. Colonel said I should become a licensed therapist because he felt I had a gift. So I went back to school with two young boys (Cole’s brother Cory is 8 years older) and continued that journey through a divorce, double breast surgery, shoulder surgery, and lots of late-night studying while working full time.

Cole became a Model and started Acting classes with Scott David, I realized I needed to learn the ropes as a Momager quickly to make good decisions for his career. The juggling began and the balancing act had been difficult at times running my practice and running the roads with Cole.

What did you find difficult about getting started? – The hardest part about starting my business and helping Cole with his, was the courage to do it! The fear of failure is real, with the voices of others speaking doubt and putting their fears into me. My courage had to be bigger than those fears of failure. I had a family member who once said to me, “I think you’re going into the wrong field, how can you help marriages when you’ve divorced twice?” I thought for a minute and responded, “when drugs and alcohol became my first husband’s bondage, I couldn’t protect my son and myself from his impulsive spending, gambling, intoxicated anger with emotional, verbal, and physical abuse. While I loved him, he refused to work on his addictions and protecting me and Cory had to be my priority.

My second husband came home from deployment and decided he never loved me the way he should have and left when Cole was 5 but we remained friends. My current husband has always been my best friend and he encouraged me through my practicums, internships, and to go from clinical mental health to open my own Psychotherapy private practice and I’ve been thriving ever sense!

When Cole began his career, I got similar familial doubt constantly but with the help of designers and directors like the owners of Avenue X, Bena Klier Bouler (House of LaRue designer) and her husband Julius Bouler (CheqMate designer), who both took us under their wings to teach us the business and how to navigate intelligently in the modeling world.

Cole on the cover of NY Style Magazine

Designer Venancio Tadeo became like family, then we began working with these insanely talented photographers, Eugene Manning, Michael Todd Burton, Greg Bailey, Murphy photography, Marlon Griffith, Galen Draper, Bobbie Bryant and so many more amazing photographers, I can’t name them all! Charlotte has some incredible talent!

There are 3 main stumbling blocks for entrepreneurs: funding, partnerships, and motivation. Which one was lacking or the most challenging for you? – FINANCES we’re the hardest part!!! I had THE BEST mentors and special people helping us navigate, both for my business and Cole’s. I was never lacking motivation for either. My husband, Will was so helpful with my company start-up, helping me figure out finances, marketing, and how to get it started. I literally needed faith to leap into it, not knowing if I could get enough patients to stay afloat financially. Getting on Psychology Today helped me the most, with getting patients. Paying thousands of dollars per year for continuing education courses and licensing fees.

Aren’t you afraid of competition in both of your pursuits? – No! I strongly believe what is meant for me will be mine and what is meant for you will be yours. No one is competing against each other, we are competing against ourselves. Take Acting, a movie role character is in the mind of the writers and directors. Then the chemistry between actors is important also. Cole was chosen by Author EJ Dales to portray John BarFly in his book series Forbidden Shadows because Cole fit that character in look and personality. It was meant for him. No one else will get what is meant for you.

What differences are you making in your therapy practice? – I’m taking insurance, which decreases my income significantly but helps patients afford therapy. Mental health doesn’t pay as well as medical, yet most medical issues would decrease if more people got mental help because most ailments stem from mental health affecting the body and mind. I’ve educated, licensed, and credentialed myself in many interventions and therapeutic techniques to have the ability to work with most mental health needs. I do lots of trauma work. My husband says I have the alphabet behind my name. I do EMDR, TF-CBT, CBT, Gottman couples therapy, NET, and many other intervention techniques.

Would you rather be bigger or faster in your profession? – Bigger for my private practice and how many I can reach. I would love to grow into a group practice. I want to be faster for Cole’s career so that I can trust in his ability to grow and succeed on his own. Faster for my oldest son, so he can transition from military to civilian life with stable finances and a career, the same as his baby brother Cole. I need to know they’re good.

Everyone feels like giving up at some point to find a “regular job”. What kept you going when you hit that wall and what did the wall look like? – I hit so many financial and emotional walls that had me wanting to throw in the towel! Every time I thought about giving up, I remembered those I’d helped so I wouldn’t quit. The suicidal soldiers that have moved on to amazing lives with spouses and children, marriages that have thrived, and psychosis that stabilized. This kept me going.

Anything you would like to add? – I love life and I want everyone to learn how to find joy! I want those struggling with suicidal thoughts to know, the difficult times are momentary and will pass, so stop focusing on the bad and start focusing on what CAN be done in that moment. 988 is the mental health emergency number and it’s available 24/7. Love yourself first, it’s not selfish.

Olivia Salinas
Olivia Salinas

Journalist and writer for NY Style and Millennial Entrepreneur Magazines covering music, modeling and the fashion industry.

The Sneaker Market Crash Was Bigger Than You Think

The Sneaker Market is Bigger Than Some Of The World’s Stock Exchanges

  • Grails” or top sought-after sneakers have fallen instantly in market value by 30% this year.
  • Pyramid schemes were uncovered that bankrupted many sneaker traders.
  • Sneakerheads are taking matters into their own hands.

The sneaker market has crashed and it will take a lot more time to heal than most sneakerheads want to believe. Yes, the sneaker market is worth billions of dollars in trading …and yes, sneakers are traded like stocks. The market is bigger than NFTs and it’s bigger than many of the major stock markets in over 40 countries. For the ones trading shoes in these markets, this is pretty obvious but for a novice like myself, this shows how prevalent the sneaker culture is to society as a whole.

The steady rise of sneakers prices is no more. Traders are undercutting sneaker enthusiasts with unbelievably low prices.

There are two major online clearinghouses for sneakers at the moment, Stock X and GOAT. I won’t go into too many details about them but they are the biggest clearinghouses for buyers and sellers. You send your sneakers to them to have them check for authenticity, making sure they are from legitimate sources like Nike, Addidas, and so forth. Once authenticated, they will store and list your sneakers. Once a buyer is found, Stock X or GOAT collects the money online and ship the sneakers to the buyer. Afterward, the seller gets paid minus the clearinghouse fee.

This is What Changed The Market

The major clearinghouses control 40% of the market. Private exchanges of sneakers are handled one on one or at events. Large volume traders buy and sell sneakers with private collectors. This is where the problem began. Certain high-volume traders started selling their sneakers at below-market rates to corner the market and become one of the few places private collectors will buy.

The problem became exasperated when these traders kept selling sneakers not only below market rates but below the cost of what they were purchasing the sneakers. Creating a “Robbing Peter To Pay Paul” dilemma. It’s a scheme where they bring in fresh money from new clients and slowly pay off sneakers they have on contingency. In essence, creating a pyramid scheme within the sneaker market.

Clearinghouse employee checking the authenticity of a pair of Jordans

Bankruptcies?

The shocking headlines about sneaker traders going bankrupt and leaving collectors high and dry on their orders have caused a ripple effect in the shoe industry altogether. Some collectors and traders have lost as much as $150k from large orders they never received. Shoe companies that were pumping out new and retro sneakers are now seeing orders dry up and they are starting to consider slowing down production drastically.

In 2015 Kanye West was $50 million in debt. Now, with his 11 percent stake in Yeezy, his estimated worth is $6.6 billion with $114 million dollars earned in the first quarter of 2020.

Certain brands are tightening their belts because of fewer orders from shoe stores with fewer “plug” guarantees (explained more below). Yeezy’s brand, which raked in over 1.3 billion dollars in sales by the first quarter of 2020 and made Ye, better known as Kanye West, over $143 million with his 11 percent stake in the brand has fallen in market value by almost a third in the second quarter of 2022.

Zakeke Can turn any item in your Shopify or online store into a customizable product with real-time 2D, 3D & Augmented Reality

What can save the sneaker market?

Scarcity is what makes any commodity valuable. It becomes a lot more valuable when it becomes difficult to find and purchase a particular type of Grail. At the moment, there is a glut of high-brand sneakers within the market. Certain sneakers are traded more than they are worn. A worn sneaker loses value over time but brings up the value of never-worn ones. Right now, there are too many pristine Jordan 1s and Yeezy 450s sitting in closets not being worn. Companies that produce high-end sneakers will have to drastically reduce their production and possibly buy back some of the stock of sneakers out there and destroy them. This may sound draconian, but it worked for De Beers in the diamond industry when they dumped a glut of diamonds into the ocean to keep prices stable.

Sneakerheads Are Taking Matters Into Their Own Hands

Some sneakerheads and traders are creating their own kicks online and making deals with local high school and college athletes to wear their brand and promote it on their Tik Tok or Instagram page. Influencers with a small following on social media are also being approached by sneakerheads. You can invest in a small influencer for around $150 and your online designed kicks can be produced and dropshipped per order with no upfront cost or worries about keeping a stock of inventory.

Can A Sneaker “Buy Back” Work For Nike & Addidas?

Yes, like any stock purchased back by a company, headlines about companies buying back their sneakers will cause a shift in perception. Especially if that stock of a certain shoe is destroyed, never to be replaced. It will cause a reverse panic and sneakerheads will hold tight to the few sneakers of certain styles that haven’t been completely destroyed.

eBay’s pop-up store “Wear ‘Em Out” encourage customers to wear their new purchases right out of the store.

Another scheme that may have some effect on the sneaker market is what eBay announced, the Wear ‘Em Out Store, a pop-up shop that rewards sneakerheads for actually wearing their new kicks out of the store. The Store featured “some of the most exclusive and coveted sneaker styles for up to 70% off today’s market price,” according to an official press release. Moreover, the Wear ‘Em Out Store offered exclusive pricing on collectible kicks to those who literally wear their new purchases out of the store.

Limit The “Plugs”

Benjamin Kickz, known as the “Sneaker Don” is famous for using plugs to buy up sneaker inventory of newly released kicks. Plugs are stores that sneaker resellers have a relationship with that allows them to buy up their inventory of new sneakers before they are released. This actually works for the shoe stores and for the shoe companies that release the new sneakers. The sneaker reseller who uses plugs to acquire a whole stock of newly released sneakers assumes all of the upfront cost of the shoes while the shoe company and stores make a quick profit. The problem with this particular scheme is that it’s becoming too predictable.

Upgrade & Emphasize The Raffles

There’s nothing more exciting than to win a Raffle as a sneakerhead. To be the first to receive new high-end kicks in your city or town feels like a lottery win even though the winner still has to purchase their winnings at a store. It should be encouraged over “Dons” taking over complete inventories. No one wants to wait for a small percentage of individuals to corner the market and resell them at a higher price to everyone else.

In Conclusion

As with NFTs, the market may have been softened by a glut of products but we may be surprised by where this may lead. Unlike NFTs, the sneaker market is a lot more robust and has been around much longer. It may move into a hypermarket at any time with a new type of sneaker design or technology. In the meantime, market losses of 30% are nowhere near as bad as the free-fall of cryptocurrency and NFTs are experiencing today. It may be a rocky road for a while but it’s still a safer market than the alternatives. Once the market goes through this harsh correction, I believe within the next 2 years, sneakers will bounce back with fewer roadblocks and more innovative ways to procure your favorite sneakers for your collection. And with prices this low, this may be the time to position yourself for an upswing.

Armand Lucas
Armand Lucas

Serial entrepreneur and writer for Millennial Entrepreneur, RelyOnPros, NY Style Magazine and HomeRestored.com

Why Moving Companies Are Left Over Mafia Relics And What You Must Do To Protect Your Wallet From Them

Car dealerships are usually at the top of every news outlet’s list of predatory companies the American population voted as the most dishonest and at times they deserve this moniker but if people hired moving companies as often as they buy cars, they would easily put moving companies at the top of everyone’s list of the most dishonest and “mafia-like” of all other industries they find difficult to work with.

The goal of this article is to lay out some of the more dishonest moving company tactics and how you can protect your wallet from them. Now, not all moving companies use Mafia-like tactics. In fact, there are some that have stellar reputations and because of that fact, you’ll pay a high premium above the dishonest ones to use their services. You may also find yourself on a long waiting list to have them move you, wreaking havoc on your moving schedule.

The not-so-honest ones are always available and will even send out a friendly face to meet with you and discuss every detail of your move. But be forewarned, if you haven’t researched the company, your final invoice may be way more than you were promised, or worse yet, some of your furniture and belongings could wind up stolen or sold.

Here are 3 common scams and incidents you may run across with dishonest movers.

The Scam

The worst of the worst movers are notorious for using this tactic and if you are told that you’ll be charged by weight, this is the most unscrupulous way they can take advantage of you. Now, let’s say your belongings are estimated by the moving company to weigh 3,500 pounds. Funny thing is, you didn’t see them weigh anything as they packed their truck. Later you get a call from the moving company stating that the truck with your belongings was just weighed at a facility and minus the weight of the truck, your belongings actually came out to 7,600 pounds and you’ll have to pay the difference which comes out to an additional $1,300.

The Payoff

If you refuse to pay the additional charge, they”ll state that they are in the right to sell your belongings or dump them at a refuse facility. In a panic, you’ll probably come up with the additional funds quickly to get your belongings delivered to your new home safely.

Missing Furniture

Now, I wouldn’t say this is because moving companies are being dishonest. Let’s just chalk it up as mismanagement. Sometimes, a moving company will use one large truck for several moves, especially if you have a small amount of furniture to move. When they drop off furniture and belongings in several locations, they sometimes drop off too many items at one or more locations. 

The Result

When a chair or ottoman goes missing, they don’t mind knocking off the moving price by a few dollars but if you’re missing an armoire or large screen TV, they may claim that the item wasn’t picked up or pay you very little (as it is a used item) to compensate for it.

The Long Haul Blues

If you’re moving far or out of state, You’ll have to deal with long-haul movers. You may be subject to the weight scam and find out you have missing furniture. The other egregious act of long-haul movers is not moving your belongings at all. They may “sell” your load to a middleman who packs as many loads together that are going in the same direction. This means that your load of furniture and belongings may sit for weeks and sometimes months before it gets to its destination.

The Result

If you’re on a tight schedule, because of your job or your kids’ school situation, tough luck. Long-haul middlemen make very good money squeezing as much furniture as they can into a semi-truck or double-load container. If you complain about the wait time the original movers might offer a premium fee to get your load to its destination faster. The price is usually exorbitantly high and in a few cases, they just pocket the extra cash. Claiming that they are using a faster long-hauler service.

The solution

The quickest way to get your number blocked by family and friends is to ask them to help you move. Don’t do that! Instead, take matters into your own hands and rent a truck for 48 hours and hire professional moving helpers. 

What’s the difference between a mover and a moving helper?

Moving helpers are exactly what they sound like. You can find teams of moving helpers on sites like U-Haul and Executive Loaders in Chicago. From these sites, you can see detailed ratings from others who’ve used their services and scheduled a move. You can also use them for a long haul using two teams for loading and unloading. 

You control the pickup day and the professional helpers will wrap, prepare and load your furniture and belongings on the truck you’ve rented. You can even hire your own driver to drive the truck. This puts you more in control of the move.

Another reason to use Moving Helpers

Moving companies have a hard time retaining employees. Funny enough, they happen to use the same moving helpers others use to keep their schedules running. Why pay a middleman when you can go right to the source and hire the same talent?

Why rent a moving truck for 48 hours?

Two words, schedule conflict. Moving helpers and movers are notorious when it comes to showing up at a scheduled time. Now, I will say, this is sometimes out of their hands. At times, they are moving 2 to 3 loads a day. When a previous customer makes an appointment, they sometimes lie about how much furniture they need to move or do something else that slows down the process. Other times, it’s the fault of the movers or helpers for overbooking the day. You can minimize this by asking to be first on the schedule for the day, but keep in mind, that it may be as early as 6 a.m. Even then, there could be unforeseen events that delay a move.

Because of this, renting a truck for 24 to 48 hours ensures that you have a truck ready for the loading and unloading of your furniture.

Overall, moving helpers can save you a large amount of money and spare you plenty of headaches. Hopefully, in the near future, moving companies could be better regulated to protect consumers from fraudulent activities. But, until then, it’s your responsibility not to be taken advantage of.

Armand Lucas
Armand Lucas

Serial entrepreneur and writer for Millennial Entrepreneur, RelyOnPros, NY Style Magazine and HomeRestored.com