5 Money-Making Strategies For DIY Lovers

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Love making, building or fixing things? There may be ways of turning your passion for DIY into an extra income. Below are just a few money-making strategies that are ideal for DIY lovers. 

Start your own contractor business

Making money as a contractor is always an option. Rather than working for an employer, you can start your own business and set your own rates. You could make money as a general contractor, however it’s typically better to focus on a niche. This could include anything from painting/decorating to carrying out kitchen remodels. Some lines of work may require you to apply for specific licences, so bear this in mind. Taking out insurance and setting up your website and social media pages could be beneficial for winning over the trust of customers. 

Create and sell your own crafts

If you have a craft hobby, consider whether you could turn this into a craft business. Crafts like woodwork, knitting, jewelry-making and pottery can all be turned into sources of income. All you need is an Etsy account , and you can start selling your crafts to customers around the world. It’s worth finding your own style and niche to help you stand out, as there are a lot of fellow craftspeople out there also selling their crafts. 

Get into property flipping

Property flipping involves buying property at a low price and then selling it at a higher price. In order to add value to the property, you need to make improvements to it, which could include anything from repairing the roof to adding a new bathroom. If you’re savvy when it comes to home DIY, property flipping can be a great investment avenue, allowing you to make thousands of dollars from a single property flip. Of course, you’ll need enough money upfront to buy a property and carry out repairs. It’s worth looking into investment property loans and trying to do as much improvement work yourself as possible to save money on contractor fees. 

Build/convert space to rent out

Another property investment strategy to try includes building/converting space to rent out. Many people are now converting unused lofts and garages and turning them into space for lodgers. Those with large amounts of land can even consider building new properties on their land and then selling it off to buyers. Such projects may allow you to put your DIY skills to the test (although you’ll likely need some help along the way).

Start a DIY blog/vlog

You may be able to make money simply by sharing DIY tutorials and demonstrations via blog posts or videos. A lot of people read how-to blogs and watch video tutorials to learn new DIY skills and seek inspiration. If your blog or vlog becomes popular enough, you can start to make money through ad revenue. You could also make money through sponsorships by doing things like tool reviews. This guide offers more information on starting a blog .

Source: https://brokegirlrich.com/5-money-making-strategies-for-diy-lovers/