Let’s talk Trade Skills!
First, what is a “Trade”?
Definition of a Trade: A skilled job, typical one requiring manual skills and special training. To earn a Trade certification, one must attend a vocational school specializing in a particular field. Trade programs focus on the following areas:
Before we get started, let me be clear, this isn’t one of those “quit your job” blog posts. I don’t believe in telling people to leave their jobs and jump into entrepreneurship full time. Everyone’s circumstances are different, and we, as entrepreneurs, should allow people to live their lives as they see fit. It would be irresponsible of me to tell you to quit your job when I do not understand your circumstances. I will however, continue to encourage entrepreneurship including self-employment, as a means to create multiple revenue streams with the goal of building generational wealth.
With the rise of petroleum, food, and overall living expenses, it’s necessary to have more than one stream of income. Having more than one stream of income allows you to achieve your financial goals much quicker than relying on one source. You can save up for your children’s education, retirement, vacations or simply have a savings as a “cushion”.
Now that we have that out of the way!
Today’s post will entail discussing how to turn your Trade skill set into a thriving business, or even a side hustle. Whether you’re currently working in your field, or you’re thinking of obtaining your Trade certification, there are options for you to utilize your skill set outside of your respective fields.
Do you live in an area where residential developments are popping up all over your city? If the answer is “yes”, this means that there is a demand for people with your expertise. What’s your competitive advantage as a home inspector? The fact that you have a certified skilled trade which you can use as leverage for marketing your services. You may be required to complete additional certification and or training, check with your state’s requirements.
Is it worth it to become a Home Inspector?
Yes, the demand is there, not to mention, the average cost of a home inspection is about $400.00. Even if you completed 2 home inspections per week, in a month that’s about an average of $3,200.00. Not bad for a side hustle huh? Want to learn about marketing your services? Sign up for our Handyman 5 day Startup Email Course.
A HUD Inspector is similar to a Home Inspector except, HUD Inspectors work on behalf of The Department of Housing and Urban Development. HUD Inspectors assist with performing inspections to ensure homes meet strict safety and health requirements. Inspectors are required to evaluate:
Inspection fees range from $350.00 to $500.00 per inspection.
A 203K Consultant provides inspections for the Federal Housing Administration. 203K is another financing renovation option for buyers and home owners to purchase and refinance their homes. FHA loans require home inspections performed by 203K Consultants.
What does a 203 Consultant do? The consultant is responsible for completing the following:
Who uses a 203K Consultant?
Buyers and homeowners who want to complete minor home renovations, use programs such as the FHA 203K Mortgage Loan program
What are the benefits of the 203K loan program?
The benefits of the program is that buyers, and homeowners can renovate up to $35,000.
The 203K Loan program enables home buyers and homeowners to finance both the purchase (and refinancing) of a home and the cost of its rehabilitation through a single mortgage or to finance the rehabilitation of their existing home.
The types of improvements that borrowers may make using Section 203(k) financing include:
structural alterations and reconstruction
modernization and improvements to the home's function
elimination of health and safety hazards
changes that improve appearance and eliminate obsolescence
reconditioning or replacing plumbing; installing a well and/or septic system
adding or replacing roofing, gutters, and downspouts
adding or replacing floors and/or floor treatments
major landscape work and site improvements
203K Consultants can charge upwards of $500.00 per inspection.
Handyman services are always in demand. Maintenance and upkeep of homes are the reason why Handyman services are necessary. From painting walls, installing appliances, hanging light fixtures, landscaping you name it. Most busy professionals either don’t have the time to make repairs, or simply do not know how.
“I don’t have the tools to get started”.
Don’t worry about it! Rent them from Home Depot or your local hardware store.
“Where do I find clients”?
There are several third party services you can use to help you find work like Taskrabbit and Handy.com.
“How much can I charge for my services”?
The good thing about being a handyman is you can charge your worth.
Most of these options allow you flexibility so you are not required to work 7 days a week, 24 hours a day. You can work in each position at your leisure.
The idea, is to get you thinking about the possibilities of either increasing your income, or transitioning from employee to full time self-employed. I’m a firm believer in the idea of honing in on your skills and using that to achieve your goals. Your skills, experience, and background, are your greatest assets! If you want to learn more about marketing your handyman services, sign up for the 5 day Email Handyman Startup course.
Simply click the link here: Indicated that you wish to sign up for the course.