ReportWire

Tag: side gigs

  • Here’s How to Become a Transcriptionist and Work Your Way Up the Pay Scale

    Here’s How to Become a Transcriptionist and Work Your Way Up the Pay Scale

    [ad_1]

    Remote jobs providing customer service or making dozens of sales calls aren’t for everyone.

    Wouldn’t it be great to have a flexible work-from-home job that requires little to no prior experience and doesn’t force you to be on the phone all day?

    If that sounds like a better fit for you, consider becoming a transcriptionist. This job lets you make money while having the freedom to set your own hours. In many cases, you can work as much or as little as you want each week.

    The Role of a Transcriptionist

    Transcription work involves converting a video or audio file to a written document. You need stellar listening skills and an excellent command of the English language to be able to take what you hear and turn it into written words.

    Transcriptionists produce written records of conversations, interviews, programs, lectures and more. They also help provide accessibility for people who are deaf or hard of hearing.

    Transcriptionists work in a variety of settings including courtrooms and doctors’ offices, but there’s a lot of flexibility in this profession to work from home — and at your own pace.

    Many transcription jobs from home don’t require strict set hours. You can find contract gigs that pay by the amount of work you’re able to transcribe rather than being on a payroll and earning an hourly or annual salary.

    As a freelance transcriptionist, you can choose to work when you desire. You could work part time or full time, during normal business hours or at night while everyone else in your household is sleeping. Transcribing from home can be an ideal option for stay-at-home parents to earn money while juggling child care duties.

    Besides the flexibility, other perks of working remotely as a transcriptionist are that you have the autonomy of working alone, and you don’t have to deal with inbound calls or the complaints of frustrated customers. Depending on what you’re transcribing, you can also learn new and interesting things.

    Types of Transcriptionists

    There are several different types of transcriptionists. Typically, the transcription industry is broken into three categories: General, medical and legal.

    If you’re a beginner, start by looking into general transcription jobs. This career path has a much lower barrier to entry — often requiring no formal education or training and little prior experience.

    Working as a transcriptionist who specializes in medical transcription or legal transcription will likely require a state license or completion of a certification program. You’ll also need to understand potentially complex medical or legal terminology. These specialized fields often pay better than general transcription work.

    General Transcription

    General transcriptionists are hired to provide text for a variety of video or audio files. You might transcribe podcasts for a blogger or interviews for a writer. You could transcribe business meetings, college lectures, speeches at conferences or discussions during marketing focus groups.

    There are also broadcast captioners who create closed captions for movies and television programs. Speedy transcribing is important in these jobs, but employers often hire people with a lot of general knowledge about news, sports, entertainment, and world events. This means people have a better understanding of broadcasts.

    Real-time captioning for live events or broadcasts is in high demand and generally pays more than creating captions in post-production. Simultaneous captioners work quickly and need good spelling skills.

    A specialized segment of captioning work is CART captioning. CART stands for “Communication Access Real-time Translation” and is for audiences who are hard of hearing or deaf. In addition to transcribing all spoken words in real time, CART captioners also make note of audible sounds like laughter or applause.

    Experienced transcriptionists, which you will be after a while, can become transcriptionist reviewers, proofreaders, and quality control transcriptionists.

    Medical Transcription

    Medical transcriptionists listen to audio recordings from doctors and other healthcare professionals and convert them into written reports. While they may work from home, medical transcriptionists also work in hospitals, labs, operating rooms and other medical settings.

    Working as a medical transcriptionist may require a license, certification or prior work experience depending the company you work with and the role you take on. You’ll need a robust understanding of medical terminology, anatomy, medical procedures and healthcare documentation.

    While a medical transcription career often pays better than having a general online transcription job, the U.S. Bureau of Labor Statistics (BLS) projects there will be a 7% decline in jobs in this field over the next decade. Technological advancements — such as the use of speech recognition software — and outsourcing overseas is leading to this decline.

    However, some medical professionals use speech recognition software to create a first draft of the audio they’d like transcribed, and then hire a medical transcriptionist to go over the work and edit for accuracy.

    Legal Transcription

    Legal transcribers provide written records of depositions, trials and other legal proceedings. A court reporter is a common type of legal transcriptionist.

    Legal transcriptionists may also be hired to transcribe police interrogations, victim interviews and undercover law enforcement recordings. The written documents they produce are often used to help lawyers prepare for trials and may be used in court.

    This type of transcription career usually requires a certification or license. You need to be familiar with legal terminology, procedures and systems in this line of work.

    Some legal transcriptionists can work remotely, but others work on-site in courtrooms, in legislative sessions, at law offices and in other legal settings.

    The BLS expects court reporter job growth will be flat in this decade, with about 2,000 jobs a year opening up.

    How Much do Transcriptionists Get Paid?

    Compensation for transcription services varies based on a variety of factors, including the type of work you take on, your speed and skill level, your experience and the company you work for.

    According to Payscale, the average hourly rate for a transcriptionist is $16.59. Spanish and other bilingual translation and transcription services pay slightly better, averaging $17 an hour. Beginners who do general online transcription may only earn about $10 an hour or less, but there’s potential to earn over $25 an hour as you gain experience and enter into higher-paid specialties.

    Companies may also pay you more to transcribe a more difficult audio file — such as one with multiple speakers or speakers with heavy accents — or for work requiring extras, such as timestamps, or a very short turnaround time.

    It’s important to note that many companies pay freelance transcribers by the audio hour (or the audio minute). This means that you’ll earn money based on transcribing an hour’s worth of audio, which could take a beginner between four to six hours to complete, depending on the complexity.

    Experienced transcriptionists often consider rates below $45 to $50 per audio hour too low. If it takes you five hours to transcribe one audio hour at those rates, you’d be making $9 to $10 an hour.

    However, if you’re brand new to the industry, you may find it’s worth working at those lower rates to get started. As you gain experience and improve upon your skill set, you could land a better-paying transcription job later on.

    Pro Tip

    Keep in mind: The faster you can accurately complete the work, the better your compensation will be.

    Other companies may pay contract transcriptionists per project or per page of transcribed work. Factor in the time it takes you to complete each project or page to determine if the job is right for you. Generally, anything less than $1 per page is low.

    As you’re evaluating pay, make sure you’re considering the costs you’ll encounter as a freelancer, especially if you’re new to working for yourself. As a 1099 worker, you’ll need to pay quarterly estimated taxes. If you aren’t covered under an employer’s health insurance plan, your healthcare costs will be coming out of your own pocket.

    Do you need better tech for your work-from-home office? Will you have to upgrade your internet? Include all these extra expenses into the equation as you’re assessing a company’s offered rate.

    Need a banking service that’s built for freelancers, helping you save for taxes and keep track of your expenses? Check out Lili. (It’s free!)

    What You Need to Get Started as a Transcriptionist

    You’ll need a combination of technical skills, soft skills and equipment to become a transcriptionist. It may seem fairly simple to listen to a recording and type out what you hear, but it’s more challenging than you might think.

    If you want to level up in your career and get paid better, seek out transcription training in a specialized field. As you move up the ladder, you’ll probably want to upgrade to better equipment, too.

    Here are some of the skills, equipment and training you’ll need to build a career as a transcriptionist.

    Skills

    To work as a transcriptionist, you’ll need to have stellar listening skills, including the ability to decipher audio with heavy accents, background noises and multiple speakers. You’ll need to be able to concentrate on a task for an extended period of time. Having a quiet, dedicated workspace at home helps.

    Another important skill is the ability to type fast. If you’re just starting out, a typing speed of 65 words per minute (wpm) is fine, but eventually you’ll want to aim for between 75 to 90 wpm. The more you practice, the better your speed will get.

    You should have an excellent command of the English language, including grammar, punctuation, spelling and vocabulary. You’ll want the written copy you turn in to be free of errors, so you should have good proofreading skills as well.

    Having great time-management skills will help you stay on top of deadlines. It’s also essential that you’re detail-oriented and patient in this line of work. You might be listening to the same audio over and over to transcribe audio files verbatim.

    Additionally, you should be a tech savvy individual who’s able to work with the necessary software and equipment.

    Equipment

    The equipment you’ll need to work from home as a transcriptionist will vary based on what type of work you do and the company you work for.

    Some companies that hire newbies don’t require you to have much beyond a good-working computer, high-speed internet and a pair of earbuds or a headset.

    Your computer or laptop should have sufficient RAM and storage space and should be able to run basic programs, such as Microsoft Word. The company you work for might require you to download specific software. Google Chrome is a helpful internet browser to use.

    Your internet connection should have download and upload speeds of at least 10 mbps. Your company may have specific requirements.

    Pro Tip

    As with other online jobs where you’re working from home, make sure you have a distraction-free, private workspace with a comfortable desk and office chair.

    If you want a career in online transcription instead of just pursuing this as a side gig for extra money, you’ll benefit from investing in noise-cancelling headphones, a mechanical keyboard, dual monitors and a foot pedal for controlling audio playback.

    Downloading transcription software, such as Express Scribe, will make your work easier and help you cut down on your transcription time. There’s a free version of Express Scribe, but you can also upgrade to a professional version for less than $100. If you plan to use a foot pedal, most are compatible with this software.

    You may also want to get text expander software to help you type common words and phrases faster.

    If you’re a court reporter or legal transcriptionist, you’ll probably need to use stenography equipment.

    Transcription Training and Certifications

    Working as a transcriptionist doesn’t require a college degree. If you are new to the field and are providing general transcription services, you likely won’t need any certification.

    If you aim to specialize as a medical or legal transcriptionist, however, you will need advanced training. Many community colleges and vocational schools offer certification programs, which can last from one to three years.

    Aspiring medical transcriptionists can get certified as a Registered Healthcare Documentation Specialist (RHDS) or a Certified Healthcare Documentation Specialist (CHDS) through the Association for Healthcare Documentation Integrity.

    The National Court Reporters Association offers certification as a Registered Professional Reporter (RPR). Another option is to earn the Certified Electronic Reporter (CER) designation or Certified Electronic Transcriber (CET) designation through the American Association of Electronic Reporters and Transcribers. The National Verbatim Reporters Association also offers a variety of professional certifications.

    If you’re a general transcriptionist, you can also take courses to improve your skills and, hopefully, advance to better paying jobs. Transcribe Anywhere has a course in general transcription — and also a free mini-course. Udemy also has various courses on how to become a transcriptionist (like this one, this one on subtitling and captioning and these practices).

    When evaluating whether a course is right for you, check the reviews or, if possible, speak to program graduates to gauge whether the course increases people’s employment prospects.

    If you’re going to work in the United States, it is recommended that you take courses from a U.S.-based company.

    How to Become a Transcriptionist in 8 Steps

    Wondering how to become a transcriptionist? Follow these steps to launch a career — or profitable side gig — while working from home.

    1. Decide What Types of Transcription Jobs You’re Interested In

    Are you looking for general transcription work where you might create transcripts of podcasts for a blogger or make a written record of a company’s business meeting? Or would you like to specialize as a medical or legal transcriptionist?

    Consider the amount of hours you plan to dedicate to this work. Are you looking for something full-time or part-time?

    Would you like to work for a company that’ll give you transcription work or would you rather be a freelance contractor who finds your own gigs? Your answers will guide you to the right path for you.

    Pro Tip

    If you’re planning to establish yourself as a freelance transcriber, here’s what you need to know about running a freelance business.

    2. Practice Your Typing Skills or Pursue Advanced Training

    The more you practice your typing and transcription skills, the quicker you’ll be able to take an audio file and convert it into written copy. And the faster you’re able to turn around work, the more you’ll earn per hour.

    Express Scribe has practice files for you to test your skills. So does GoTranscript.

    If you want to become a medical or legal transcriptionist, check your local community college for certification programs or see the section above for accreditations you might want to pursue.

    3. Prepare Your Resume

    After completing training or earning a certification or license, make sure you update your resume.

    Even if you choose not to pursue formal training, you should revamp your resume to highlight transferable skills that will help you succeed in a transcriptionist role, like the ability to listen attentively or being a fast typist.

    4. Apply to Transcription Jobs

    If you’re just starting out, it may be easier to get work through a transcription outsource company than trying to establish yourself as a freelancer.

    Below you’ll find a list of companies that hire people with little to no transcription experience.

    5. Get Familiar with the Company’s Style Guide

    Each company will have its own style guide outlining its preferences for transcribed work.

    Some companies may ask you to transcribe verbatim, while others will say it’s okay to correct mispronunciations or incorrect grammar. The style guide might also lay out how the company wants you to identify multiple speakers in an audio file.

    Take time to study the style guide so you turn in work that adheres to the company’s guidelines.

    6. Take a Typing Test

    During the application process, transcription companies will have you take a typing test to access your speed and accuracy. You might be asked to listen to a few minutes of dialogue and transcribe what you hear.

    The tests for lower-paying companies that hire beginners will be easier than the test for companies seeking experienced pros.

    7. Make Sure You Have the Required Tech

    At the very least, you’ll need a working computer or laptop, high-speed internet, quality earbuds or headphones and a quiet home office space.

    Additional equipment, like a foot pedal and transcription software, may not be required by the company you work for, but it could help you do your job better.

    8. Move Up to Better-Paying Companies With More Experience

    After you have some experience under your belt and you’ve improved your typing speed and turnaround time, you should seek out gigs that pay more money.

    Ditto Transcripts and Allegis Transcription are two companies that hire experienced transcriptionists. You could also use platforms like Freelancer.com or Upwork to find work-from-home transcription gigs.

    Another strategy for finding higher paying work is to create a webpage for your independent transcription business and advertise your services. Reach out to potential clients, like law firms or podcasters, directly to solicit work.

    Where to Find Transcription Jobs as a Beginner

    If you’re looking to earn a little extra money online, try with one of these transcription companies to get started. You won’t get rich, but you will get paid to learn how to transcribe audio files — and this could open the door to more lucrative transcription opportunities in the future.

    The following transcription companies regularly hire newbies. You’ll need to take short assessments before getting assigned work, and you can work as much or as little as you’d like. In most cases, you won’t need any special equipment like a foot pedal or transcription software.

    Crowdsurf

    Crowdsurf specializes in providing transcribed media files to the hearing impaired. You’ll have to create an account with Work Market — an online marketplace for freelancers — where Crowdsurf houses their transcription tasks.

    You can earn up to 20 cents per media minute (which comes out to $12 an audio hour), plus bonus rates. Most transcription tasks will be less than 10 minutes long.

    Go Transcript

    To work for GoTranscript, you’ll first need to register and take a transcription test. Once approved, you can choose from a variety of projects to work on.

    The average payment rate is 60 cents per audio minute, which equates to $36 an audio hour. The average earnings per month is $150, however, top workers earn up to $1,215 per month. GoTranscript pays on a weekly basis via PayPal or Payoneer.

    Quicktate

    Quicktate hires independent contractors to transcribe short voicemail messages, as well as memos, conference calls and more.

    After you have done transcription for Quicktate for some time, you may be promoted to iDictate — a sister company that pays slightly more to transcribe an audio file. Quicktate pays approximately one cent for every four words transcribed, while iDictate pays two cents for every four words transcribed.

    Quicktate pays its freelancers weekly by PayPal.

    Rev

    Rev pays transcriptionists between 30 cents up to $1.10 for each audio minute, which works out to $18 to $66 per audio hour. The average earnings per month is $245, but top earners make up to $1,495 per month.

    Rev pays weekly via PayPal and doesn’t require any special equipment apart from a computer with reliable internet.

    Scribie

    Scribie’s site mentions that they work with new transcriptionists and experienced ones. You have to take a test to get certified. Scribie is interesting in that instead of being assigned work, you can choose your files. They also provide an automated transcript that helps the process.

    Scribie starts at $5-20 per audio hour. They pay daily by depositing money into your Paypal account.

    TranscribeMe

    Before you can take on projects with TranscribeMe, you have to register and take its training course and exam.

    TranscribeMe starts you off transcribing short audio clips less than five minutes long.  The company pays $15 per audio hour. You’ll be paid weekly via PayPal for the work you complete.

    You don’t need any special equipment to start working beyond a computer or laptop that has Google Chrome and a stable internet connection.

    Frequently Asked Questions

    Trying to decide whether you want to become a transcriptionist? Here are the answers to some frequently asked questions.

    How Long Does it Take to Become a Transcriptionist?

    The time it takes to become a transcriptionist can vary widely, depending on factors such as your skill level and whether you want to specialize.

    If you’re already a fast typist with an excellent command of the English language and stellar listening skills, you might be able to apply to work for a transcription company that hires inexperienced transcriptionists. Depending on how long it takes to get through the application and hiring process, you could start working in a matter of days or a couple of weeks.

    However, if you choose a specialized field of work and enroll in a two-year certification program to become a legal transcriptionist, it would take at least a couple of years to begin your career.

    How Do I Start to Become a Transcriptionist?

    For those new to the profession, it’s often recommended to start in general transcription, taking work for outsourcing companies.

    Take practice tests before applying so you can improve your typing speed and accuracy. After working entry-level transcription jobs for a while, you’ll be able to take on higher-paying work.

    How Much Can You Make as a Transcriptionist?

    The average hourly rate for a transcriptionist is just over $16, according to Payscale. However, factors such as your experience level, the business you work for, the type of work you do and your turnaround rate will impact how much money you make.

    As a beginner, you could earn $10 an hour or less. More experienced transcriptionists who work in specialized fields can command over $25 an hour.

    Is it Hard to Become a Transcriptionist?

    Becoming a transcriptionist doesn’t require a college education or formal training, and there are companies that hire workers with little or no experience. This doesn’t necessarily mean that it’s easy to become a transcriptionist.

    Just like any other job, what’s easy for one person won’t be for another. Passing a company’s typing test, for example, may not be as simple as you’d imagine.

    The files you listen to might be very poor quality, making it difficult to understand what’s being said. And other times, you might find yourself trying to interpret unclear dialogue spoken with a thick accent.

    The work is also quite repetitive. You will have to listen to the same audio over and over again to be sure you have transcribed it perfectly. If you don’t like repetition, transcription might not be the line of work for you.

    Nicole Dow is a senior writer at The Penny Hoarder. Anna Thurman is a contributor to The Penny Hoarder. 




    [ad_2]

    nicole@thepennyhoarder.com (Nicole Dow)

    Source link

  • Want to Earn $3K a Month on a Side Hustle? Try Flipping Furniture

    Want to Earn $3K a Month on a Side Hustle? Try Flipping Furniture

    [ad_1]

    If you’re looking for a side hustle that can bring in serious revenue, furniture flipping is worth considering. There’s a lot of satisfaction — and monetary reward — in scoring a sweet deal on an old piece of furniture and seeing where a little paint and elbow grease takes you.

    Here’s how one furniture flipping teacher got started making $3,000 a month upcycling used furniture on Facebook marketplace. And tips for how to get a start flipping furniture yourself.

    Finding Creativity With Furniture Flipping

    After a long day of teaching Chinese to middle and high schoolers, cooking dinner for her daughter and husband and prepping her spare bedroom for Airbnb guests, Sara Chen likes to call out to her Echo Dot:

    “Hey, play some soft music.”

    This is when most people would plop on the coach and let out a deep sigh of exhaustion. Maybe pour a glass of wine and call it a night. But Chen isn’t most people. She’s just getting started.

    Soft music humming in the background, she heads to her garage and starts sanding, priming and painting furniture — usually mid-century modern dressers — for her side gig, Sara Chen Design.

    Until a few years ago, Chen hadn’t found the right outlet for her strong creative streak. It was by chance that she stumbled upon upcycling furniture, work she finds energizing and inspiring. The extra $2,500 to $3,000 a month is just an added benefit.

    Photo courtesy of Sara Chen

    Getting Started Furniture Flipping With Sara Chen Design

    When Chen left her HR job in China to move to the U.S. more than a decade ago, she felt like she was taking a step down professionally.

    “All of the advantages I had deteriorated,” Chen said, noting the lack of parallels in hiring practices between Denver and Shanghai.

    So she pivoted her career circa 2009 and took a job teaching Chinese. It allowed her and husband Justin Herbertson to raise their newborn daughter, Gemma. She’s been a Chinese teacher ever since, and she enjoys the work. It’s stable. It pays the bills. The health insurance is great. And now Gemma attends the same school.

    But Chen yearned to be creative.

    In 2015, she learned about Airbnb, and, by extension, the idea of starting her own gig when the family moved from Denver to Charlotte, North Carolina. Chen jokingly calls herself a “control freak,” and listing rooms on Airbnb allows her to flex both creativity and control. While she gets to curate well-manicured rooms for rent, Airbnb didn’t fully quell her desire to be creative.

    Then she got her first taste of furniture upscaling. On Facebook Marketplace, Chen found “a steal:” a mid-century modern dresser for $200 that would go perfectly in her bedroom. She brought a friend to meet the seller.

    “So, I went in and found out she actually had two dressers … both mid-century modern style” Chen said. “I told my friend, ‘You know what? You should buy the other one.’”

    Her friend said no. “It looks so ugly,” she told Chen.

    Chen bought both pieces for $400 anyway. The first piece she kept as is. For fun, she decided to paint the second one. She bought sandpaper, tack cloth and a can of white paint — in all, about a $30 investment. Then she set up shop in her garage and got to work. In two or three hours, the dresser was like new — but better.

    “Then my friend came over and she was like, ‘Is that the dresser you [tried to] convince me to buy? It looks so good! Can I have it now?’” Chen recalled.

    On the spot, she made a sale: $350. And that gave Chen the courage to start upcycling furniture as a side gig, working on two to three projects a week.

    “But I don’t feel stressed out because I’m doing the things I like to do,” she said.

    Finding the Right Furniture to Flip

    Chen decided to play it safe with the first piece she made available to the public. To find the right piece to flip, she again turned to Facebook Marketplace, investing much less the second time around: $70 for a 1930s dresser from Singapore.

    “My rationale is that I really like this piece,” Chen said. “And if it doesn’t sell, I’m going to use this for myself.”

    She chose a dresser because it’s a versatile piece of furniture. It can double as a baby-changing station or an entertainment stand, if needed. And with a robust Hunter Club green coat and newly installed golden drawer pulls, Chen transformed the piece from rustic to chic.

    Her first customer drove more than two hours to pick it up. When the woman arrived, she marveled — and shelled out $420. Including supplies, Chen earned about $300 in profit on her first sale.

    On her way out, the customer encouraged Chen to create an Instagram account to showcase her work. The woman had a large social media following and said she would give Chen a shout-out.

    Chen took that advice to heart. In less than a year, with the help of her happy first customer, she has amassed more than 1,700 followers on Instagram.

    But Chen’s luck with her godsent customer didn’t end there.

    “After she got the green dresser, I noticed she was pregnant,” Chen said. “I got another dresser, also from Facebook Marketplace … and then I painted it pink. I added black handles”

    “You’re looking for a dresser for your girl?” Chen texted her. “Well, I might have a piece you want.”

    Chen photographed the new pink dresser and sent over the pictures. Fingers crossed.

    “This is exactly what I want!” the woman replied.

    The second piece, which Chen purchased for about $60, sold for $400.

    And those price points weren’t one-offs from an enthusiastic buyer. Chen’s instincts were dead on. After researching her competitors on marketplace, she typically shoots for those profit margins with each project.

    For tallboys, like the pink dresser, Chen spends $40 to $70 and flips them for $325 to $425 on average. The margins for long dressers are even better — a $60 to $120 purchase price and a $475 to $525 sales price. Depending on the project, that means she regularly sees profit margins between 70% and 90%.

    “You need to find a sweet spot,” Chen said. “I try to keep it in the median-high level. I feel like that’s the right spot [for me].”

    A dresser that Sara Chen flipped.
    Photo courtesy of Sara Chen

    Flipping Furniture Is All About the Photos

    After tallying about 70 pieces of vintage furniture hunted, cleaned, patched, sanded, repatched, primed and painted since early 2019, Chen has her upcycling process down to a science. But when the paint dries, her work is only a little past the halfway mark.

    Next, she stages the piece for high-quality photos to include in her listings on Marketplace or Instagram. It’s now her favorite part of the process.

    “It’s also probably the most important part,” Chen said. “It’s gone from a regular piece to a stunning piece, and I want people to see that.”

    The added love really goes a long way.

    When Chen listed the first green dresser, she added potted Monstera leaves, a ceramic bird tchotchke and a wicker lounge chair adorned with a loose-knit blanket to give the photo extra pizzazz. Those details are what convinced a pregnant lady to drive more than two hours to pick it up.

    The well-produced product shots double as an effective way to showcase her previous projects on her portfolio website, which brings in more customers.

    Chen even uses her photo-editing chops to profit off of her competition. Lots of people sell furniture on Marketplace, but dark and grainy photos abound. In an experiment, she edited one local seller’s pictures using Photoshop and sent them over. Their furniture started selling faster.

    “She loved my photos,” Chen said.

    She told the seller, “I can help you post photos, I’m just going to charge you $20 every time you ask me to do a listing.”

    It was a deal that sparked a new revenue stream for Chen and yet another money-making idea: photography-staging courses on Udemy or Teachable, a perfect mesh of her skills.

    How to Make Money Furniture Flipping

    Finding a side hustle that you enjoy is the sweet spot. Here’s what you need to know to make a profit flipping furniture.

    Do Your Research Before You Start Furniture Flipping

    Investigate what kinds of inexpensive furniture sells well. Seriously, few people buy traditional china cabinets anymore. Look for mid-century end tables or coffee tables, a classic dining table, or even patio furniture.

    Check out local classified ads or flea markets with a careful eye for what sold immediately with cushy markups. To make money flipping furniture, keep your initial cost to buy furniture low and focus on heavy wood furniture that only requires basic tools to refinish.

    Find Furniture at the Right Price

    Setting up alerts for Facebook marketplace is key to scouting out prospects for furniture flipping. You could even find furniture for free with the Freebie Alerts app. Avoid fake wood and particle board and look for solid wood furniture that is sturdy and timeless.

    Avoid antique furniture and the higher price tags at estate sales. And don’t forget to drop by thrift stores or shop yard sales. Professionals will tell you that’s where the real money flipping furniture happens.

    Polish Up Your Photography Skills

    The key to making money furniture flipping is to be able to resell it easily. Attract potential buyers by brushing up on your photo skills so you can create compelling images that ensure your flipped furniture sells itself.

    Don’t forget that before and after photos or videos of a furniture flip can help you solidify your reputation as a professional furniture flipper. Showing off the time and effort it took to turn thrift store finds into quality furniture makes

    If you’ve got the space and the skills, a furniture flipping business is a side hustle that pays. So when you stumble on that perfect furniture find, don’t hesitate to dive into what could become a profitable resale business. Roll up your sleeves and get started with a furniture flipping side hustle that can bring both cash and creative satisfaction.

    Adam Hardy is a former staff writer at The Penny Hoarder. Senior writer Kaz Weida contributed.




    [ad_2]

    hardyjournalism@gmail.com (Adam Hardy)

    Source link

  • From Clothes to Cars to Microwaves: The Best Time to Sell Your Stuff

    From Clothes to Cars to Microwaves: The Best Time to Sell Your Stuff

    [ad_1]

    There are plenty of reasons to sell your unwanted stuff.

    You might be downsizing as empty nesters or moving on from a bad relationship — or you might just want to purge after getting onboard with the minimalist trend.

    Or maybe you really just need the extra cash this week.

    Whatever your motivation for selling all the weird stuff lurking in the back of your closet, you’ll want to make as much money as you possibly can off each item — because who doesn’t like money?

    And while some apps or websites are better than others for selling certain items, there’s one seller’s principle that can mean the difference between making a dollar and making, well, many dollars:

    It’s all about timing.

    That’s right — in the same way that there’s a best time to buy, there’s also a best time to sell your unwanted or unused stuff.

    An item that sells for pennies in the springtime may sell for $10 in November. If you can wait a few months to get rid of something, you’ll make a significantly bigger chunk of change at the time when the demand is highest.

    The Right Time to Sell Your Stuff to Make the Most Money

    If you’re not dying to get rid of something, try hanging onto it for a few months, so you can sell it when the time is right.

    The general rule of thumb is to list an item a month or two before it’s seasonally necessary — although there are a few exceptions.

    To help you figure out when to sell, the folks over at OfferUp gave us some insider intel on the best times to list all your unwanted stuff – and we’ve added a few of our own, as well!

    January

    Workout Gear

    In January, everybody’s looking for workout equipment to help them achieve their New Year’s resolutions. Sell it now, because by July, everyone else will be trying to get rid of theirs.

    Textbooks

    Textbooks are in high demand twice a year, at the beginning of each school semester. Sell your old textbooks in early January to make sure you get the most bucks for your books.

    Televisions

    Many people are looking to buy TVs during the NFL playoff season and leading up to the Super Bowl. Some might not want to go all out to buy a new one. Used TVs are often listed on OfferUp for $50 up to a couple hundred dollars.

    February

    Jewelry

    While jewelry doesn’t hold its value very well, if you find yourself with extra shiny, pretty things on hand, the weeks leading up to Valentine’s Day will be one of your better chances at making a buck or two. (The other is around the winter holidays, but we’ll get there.)

    Lingerie

    Obviously we’re not talking about previously worn pieces, but if you have some gifted sets with the tags still on that you’ll never wear, now is the time to sell!

    Adobe Stock

    March

    Wedding Gear

    While full-blown wedding season isn’t until June, March is a good time to start selling. Consider listing your wedding dress and everything else wedding related, from old bridesmaid dresses to leftover table centerpieces. These will continue to sell through June, but you’ll want to capitalize on the fact that people plan weddings, so they’ll be buying a little early.

    Whether you’re buying or selling, these are the best places to find used wedding dresses.

    Warm Weather Clothes

    As the last of the winter chill lingers, people get restless and start shopping around for shorts, tanks and swimsuits. Now is the time to start listing warm weather clothes!

    Try listing your used clothes through one of these 17 marketplaces where you can sell online or in-person.

    Cars

    President’s Day sales in February are often followed up with buyers looking to sell older models in March.

    April

    Prom Dresses

    People start to search for prom dresses online during the month of April, as many proms take place in May. List them now to give your old dresses a life beyond the dark recesses of your closet!

    Bicycles

    At this point, people are ready to get outside and get moving. Now is the best time of year to sell a bike, as the weather warms up and biking to work actually sounds like a pleasant experience to some people.

    Workout Gear (Again)

    If you have any workout gear that didn’t sell — or if you had good intentions and actually bought some for yourself — back in January, now is your second chance to sell anything you may still have on hand. In the spring, people are suddenly hyper-aware that swimsuit season is coming up, which means workout gear and clothing are in high demand once again.

    May

    Luggage

    Got extra luggage sitting around that needs a new adventure buddy? Now is a good time to list it as people are planning their summer vacations.

    Vacation Items

    Along the same lines, May is also the best time to sell various other vacation items such as plug adapters for international travel, beach toys or camping gear.

    Lawnmowers

    The grass growth kicks into high gear around May, meaning many people might be looking for a deal on a lawnmower. Get out ahead of Memorial Day barbecue plans and list your lawnmower in early May.

    A son and father have a water gun fight in their backyard.
    Getty Images

    June

    Summer Fun

    As we head into the summer months, people will be looking for outdoor fun — things like lawn chairs, water toys and swimsuits tend to sell well in June!

    July

    Baby Gear

    More babies are born in July and August than any other months of the year, so it makes sense that people are looking for baby gear, like strollers and cribs. The exception to this rule is baby clothes. Because babies grow so quickly and often unpredictably, baby clothes sell better in the season they are most current. No parent wants to buy a snowsuit in June only to find that by December, their kid has outpaced the growth charts.

    Back-to-School Items

    Anything school or dorm related will sell well now as people start to think about back-to-school shopping. List dorm accessories, backpacks, kids school clothing and anything else that you regularly see on those “back-to-school” lists.

    August

    Textbooks

    Again, textbooks will sell well at the beginning of the semester after college students have signed up for all their classes.

    Winter Sports Gear

    Get out ahead of the winter sports crowd in August and make a little extra money selling your winter sports gear. Items like skis, snowboards, boots and helmets are in demand late in summer as people begin planning out their winter vacations.

    Getty Images

    September

    Furniture and Homegoods

    Moving season begins as early as May and peaks in September before dropping off dramatically in the fall. In September, people are looking for furniture, home decor and small kitchen appliances and tools to outfit their new digs.

    Halloween Costumes and Decorations

    Also in September, people start planning their Halloween costumes and parties. List these things now to take advantage of the planners!

    October

    Cold Weather Clothes

    The temperature is dropping, so now is the time to sell your jeans, sweaters, jackets and boots.

    Kids snow gear — including snowsuits, boots, hats and gloves — will also start to sell and will peak into the winter months.

    November

    Holiday Decorations

    List decorations for the winter holidays at the beginning of November. The minute the Halloween decorations come down, people are anxious to start spreading that holiday cheer.

    Holiday Gifts

    If you have toys still in the packaging, clothes with the tags on (especially big brands), unopened cosmetics and gently used electronics, list them in November when people are starting their holiday shopping.

    December

    A woman works out on a treadmill.
    Getty Images

    Jewelry

    Jewelry also sells well in December — especially engagement rings. You can also sell your used jewelry directly to a site like I Do, Now I Don’t if you’re looking to make some extra cash to get you through the holiday season.

    Exercise Equipment

    Many consumers are thinking ahead to their New Year’s resolutions in December, meaning you can probably get a pretty good price for your gently used exercise equipment, like treadmills.

    Exceptions to the Rules

    There are a few exceptions to this list, however. Some items sell well during multiple seasons (or even year round!) and some will sell better with a little strategic thinking.

    Cars

    Sports cars and convertibles sell better — and possibly for a bit more money — in the sunny spring and early summer months. Trucks and SUVs (especially those with four-wheel drive) will sell better in the icy fall and winter months.

    Large Appliances

    Large appliances like refrigerators, stoves and washing machines will sell well throughout the year. Appliances break all the time, and no one is waiting for a certain time of year to purchase a replacement dishwasher!

    Seasonal Recreational Items

    For seasonal “toys” like skis, kayaks, roller blades and golf clubs (or any other items with only a brief annual window of enjoyment), list them for sale one to two months before the season begins.

    Other Seasonal and Holiday Items

    For all the smaller seasonal and holiday items, like Easter baskets or Fourth of July decorations, begin listing them four to six weeks ahead of time.

    Grace Schweizer manages social media and SMS at The Penny Hoarder. Robert Bruce is a senior writer at The Penny Hoarder.


    [ad_2]

    grace@thepennyhoarder.com (Grace Schweizer)

    Source link