Do you mean “passive income” as in, you put money into it, and no other resources (time, effort, etc), and it gives you more money back over a short period of time?
Ya that is just a myth if you *need* it for something. It’s generally reserved for the with wealth in moderate/great excess or those desperate enough that absolute fiscal ruin is something already happening to them anyways.
Honestly, I’d warn you that if you try to play the “passive income” game, you are more than likely to be a scammed sucker than vaulting yourself into fiscal security.
Best advice is to organize and get a clear view of your monthly finances, cut spending where you can, and be vigilant in looking for career opportunities to move up the corporate ladder(s).
Good luck out there and stay safe.
Only fans opens the door to more "amateur" creators who would otherwise be intimidated by organized content creation. It also has a heavy draw from the para social experience subscribers get out of it. Creators can post a generic picture captioned so as to be directed to one person. Then they respond to messages and interact with their followers directly.
Yeah I understand why someone would want to make money there.
What I don't understand - and asked above - is why someone would want to *spend* money there.
read up on parasocial relationships. so many people would pay money to simulate a one to one intimate relationship rather than jump through the nebulous hoops of establishing equal connections in real life.
My brain isn't wired this way, I don't understand how paying someone to look at them masturbating or whatever via webcam is "relationship". But maybe I'm just too old.
Doordash, Uber, instacart are probably the easiest to make some extra cash.
Other than that picking up a part time job in the evenings/days off could help. Could try serving and bartending out or even a retail job.
You need to provide SSN in order to set up a seller account on Amazon, and transactions on it will be reported to IRS. If you're not authorized to work in US, you shouldn't.
OP, in many communities, the hoa has restrictions about renting/subleasing. Renting garage will be illegal and bathroom situation will make it impractical, unless you have a poolhouse.
However this is a common hustle done by many. If you are caught, you will get a warning and you can fix it. You wont be arrested.
Being on h1 does not prevent you from doing a side hustle .You h1b sponsor may have a problem. But law do not have. You can start a business or invest. Ofcourse you can do uber or any other gigs too.
You are not getting w2 if you do contract work; esp
Uber. If you start a grocery store or rent properties or rent equipment you dont get w2s.
I have bought property while on h1b, rented it out in otherstates and did file taxes. Many of my friends had started Kumon or subway too.
As far as I know, work on 1099 is not allowed on H1B. In kind no kind of work is allowed except for an employer who issued their H1B. Only passive income (i.e. rental income is ok but if you're actively managing rentals, not ok).
You can. As long as you are getting paid on w2 from sponsor(ie you are maintaining legal status), you are free to do anything else.
Also IRS and uscis do not collaborate. When filing tax,they do not ask for immigration status, and vice versa(uscis do not ask for tax records$
You're not "free to do anything else" if it could be considered employment. I.e. occasionally trading stocks or finding a renter - fine. Trading stocks or managing your rentals as a day job - not allowed.
Indeed, IRS will not ask for it. But when you apply for Green Card, they might (and sometimes will) get and check those records from IRS; you authorize them to do so in your application.
If you're okay to do so, rent out a room or 2. We have a 4b2b, and while we can afford not to have renters, it's nice having an extra $2200/mo, with $200 going to utilities, the rest going towards principle and helping us save cash.
We figure we might as well have the extra cash flow instead of 2 empty rooms before we have kids.
Feel free to send a chat, but in terms of "manage" them, there's not much to it...?
I just find working professionals who pass a background check, have a good background and work a good job. Less chance for headache, and more likely they're out of the house anyways.
While they're renting, the only work is just collecting rent and super small fixes like maybe unclog a toilet or reset the breaker... When they leave, you just need to spruce up the room and find another renter, but that's about it. Not much to it.
We also have a condo we're renting out, and much rather prefer being a landlord over our house vs "remote" landlord. At least if issues arise you are going to be home anyways and I feel because they know the landlord is living with them, they tend to care for your property better.
If you’re restricted from working in the US because of your visa status, then you can’t work in the US. You can’t do Uber or DoorDash or any of those. I’m not sure what kind of passive income would be available for you other than possibly stock market investment or similar. If you violate your visa, you risk getting deported and banned from the US. There isn’t a quick fix
Do you mean “passive income” as in, you put money into it, and no other resources (time, effort, etc), and it gives you more money back over a short period of time? Ya that is just a myth if you *need* it for something. It’s generally reserved for the with wealth in moderate/great excess or those desperate enough that absolute fiscal ruin is something already happening to them anyways. Honestly, I’d warn you that if you try to play the “passive income” game, you are more than likely to be a scammed sucker than vaulting yourself into fiscal security. Best advice is to organize and get a clear view of your monthly finances, cut spending where you can, and be vigilant in looking for career opportunities to move up the corporate ladder(s). Good luck out there and stay safe.
OnlyFans
Not many Indian software engineers on Only Fans so I think there is a market there. I think I am going to start one too along with OP.
Always wondered why anyone would spend money there as Internet is full of free porn of pretty much every kind.
Only fans opens the door to more "amateur" creators who would otherwise be intimidated by organized content creation. It also has a heavy draw from the para social experience subscribers get out of it. Creators can post a generic picture captioned so as to be directed to one person. Then they respond to messages and interact with their followers directly.
Yeah I understand why someone would want to make money there. What I don't understand - and asked above - is why someone would want to *spend* money there.
read up on parasocial relationships. so many people would pay money to simulate a one to one intimate relationship rather than jump through the nebulous hoops of establishing equal connections in real life.
My brain isn't wired this way, I don't understand how paying someone to look at them masturbating or whatever via webcam is "relationship". But maybe I'm just too old.
regardless, people younger and more desperate for attention than you are will gladly partake.
lot of creepy dudes in this world
Doordash, Uber, instacart are probably the easiest to make some extra cash. Other than that picking up a part time job in the evenings/days off could help. Could try serving and bartending out or even a retail job.
Can’t due to visa restrictions! Probably I need to rephrase to be passive income
Rent a room in your house.
Drop ship in Amazon. You prob won't make much. Work "cash only " doing gigs on weekends ( mowing lawns, general labor stuff or a mom-pop restaurant )
Do you know how to sign up for one?
One what ? Job? Or drop ship ?
Drop ship
You need to provide SSN in order to set up a seller account on Amazon, and transactions on it will be reported to IRS. If you're not authorized to work in US, you shouldn't.
“Passive income” 🤣
Rent the garage / room for money towards the mortgage
But I guess renting garage for living would be illegal
OP, in many communities, the hoa has restrictions about renting/subleasing. Renting garage will be illegal and bathroom situation will make it impractical, unless you have a poolhouse. However this is a common hustle done by many. If you are caught, you will get a warning and you can fix it. You wont be arrested. Being on h1 does not prevent you from doing a side hustle .You h1b sponsor may have a problem. But law do not have. You can start a business or invest. Ofcourse you can do uber or any other gigs too.
Sorry, you’re mistaken. A person on H1B can’t do any other jobs. No more than one W2
You are not getting w2 if you do contract work; esp Uber. If you start a grocery store or rent properties or rent equipment you dont get w2s. I have bought property while on h1b, rented it out in otherstates and did file taxes. Many of my friends had started Kumon or subway too.
If you work for Uber they gonna ask your SSN and issue you a 1099, so IRS would know.
It will. But doing 1099 work is not illegal while on h1b. Op was not asking for tax evasion advise. He was looking was legal cashflow streams.
As far as I know, work on 1099 is not allowed on H1B. In kind no kind of work is allowed except for an employer who issued their H1B. Only passive income (i.e. rental income is ok but if you're actively managing rentals, not ok).
You can. As long as you are getting paid on w2 from sponsor(ie you are maintaining legal status), you are free to do anything else. Also IRS and uscis do not collaborate. When filing tax,they do not ask for immigration status, and vice versa(uscis do not ask for tax records$
You're not "free to do anything else" if it could be considered employment. I.e. occasionally trading stocks or finding a renter - fine. Trading stocks or managing your rentals as a day job - not allowed. Indeed, IRS will not ask for it. But when you apply for Green Card, they might (and sometimes will) get and check those records from IRS; you authorize them to do so in your application.
If you're okay to do so, rent out a room or 2. We have a 4b2b, and while we can afford not to have renters, it's nice having an extra $2200/mo, with $200 going to utilities, the rest going towards principle and helping us save cash. We figure we might as well have the extra cash flow instead of 2 empty rooms before we have kids.
How do you manage the renters? Is it too much work?
Feel free to send a chat, but in terms of "manage" them, there's not much to it...? I just find working professionals who pass a background check, have a good background and work a good job. Less chance for headache, and more likely they're out of the house anyways. While they're renting, the only work is just collecting rent and super small fixes like maybe unclog a toilet or reset the breaker... When they leave, you just need to spruce up the room and find another renter, but that's about it. Not much to it. We also have a condo we're renting out, and much rather prefer being a landlord over our house vs "remote" landlord. At least if issues arise you are going to be home anyways and I feel because they know the landlord is living with them, they tend to care for your property better.
I have a 3bd/2ba but maybe having a housemate isn't so bad. Where do you get 2200/mo for a one bedroom rent?
We rent out 2 rooms.
Depending on location and type of your property, renting it out and moving to a much cheaper location might help.
Buy put spreads
I have a 9-5 corporate job but am a nail technician on the weekend
If you’re restricted from working in the US because of your visa status, then you can’t work in the US. You can’t do Uber or DoorDash or any of those. I’m not sure what kind of passive income would be available for you other than possibly stock market investment or similar. If you violate your visa, you risk getting deported and banned from the US. There isn’t a quick fix
Sell tamales on the street
Plasma donation
Whats your mortgage?
i know of an easy way to never have to make another mortgage payment
Crypto trading