💸 $7k with real estate photography

GM. This is Work "After" Work. Where we explain how to start unique businesses in under 5 minutes, so you can spend the rest of your day figuring out who closes the bus door when the bus driver gets out.

What we got for ya today:

• 📸 Real Estate Photography

• 🙌 Quote of the day

Time to get goin: 3-4 weeksEst. start-up cost: $3,000Potential return in 6 months: $7,200

KA-CHICK!

That's the sound of you clicking your camera in a beautiful home and getting paid $300/hr to do it.

That's right. Today's side hustle is real estate photography and I personally know you can make money doing this because I have a friend who does exactly what I'm going to map out for you guys.

WHY THIS IS A GOOD GIG

Realtors depend on photographers to sell homes. Think about the landscape of how people buy homes today. It used to be you'd see one photo of the outside and go check it out in person.

Not anymore. Now it's scrolling through Zillow like you're on Tinder and if the photos are bad, welp...swipe left.

That's where real estate photographers become valuable.

Let me throw a few stats at ya:

• 83% of buyers say pictures are extremely important in helping them choose which homes they'll visit

• Homes with high-quality photos receive 47% higher asking prices per sq ft

So for a realtor, it's crucial to get a good photographer, if they care about the thickness of their wallets that is.

HOW YOU CAN GET STARTED:

1. Start an LLC

As you've seen. This start up does cost money to get going but guess what, you're going to write these costs off.

More specifically, you're going to write-off however much it costs in equipment up to $5,000, which is the max allowed by the IRS for start up costs. This means if you made $15,000 and spent $3,000 on camera equipment. You'll only have to pay taxes on $12,000.

This is one of the biggest advantages of running an LLC. A perfectly legal way to reduce your taxes. Here at Work "After" Work, we call that a BIN. A big win! Yeah I know, we're dorks.

If you want to setup your LLC (highly recommend) use Incfile. I use them to setup all my LLC's and it's super simple and easy. Plus, it's free.

2. Buy a decent camera

A high res camera is essential for taking good photos. If you're going to try and start this business with an iPhone. No matter how good it really is, people won't give you the same respect as if you were holding a thick DSLR in your hand. And that's just the truth.

The camera is going to be the most expensive part of this business because something like a Canon EOS RP (what my friend uses) will run you around $1,000 and the wide-angle lens another $1,600.

Include lighting costs and you'll be right around $3,000 all in.

Here's the camera and lens to give you an idea. *click the pics to go to the links*

3. Practice your craft

As they say, practice makes perfect. And that's what you should subscribe to when starting this business.

The more rounds you make shooting homes, the more comfortable you'll become and the more confident you'll be on the job.

Ask your parents if you take pictures of their home. Ask your friend if you shoot theirs. Hell, even ask your weird neighbor, Marge. Anything to build a portfolio you can show realtors to let them know you're the real deal.

4. Market yourself

I'd start by reaching out to any family members you know that have connects to realtors. Maybe the one you get introduced to doesn't need a photographer, but what about their realtor friend?

Real estate is a cliquey industry. Everything works off relationships so anyone you can meet from referrals is your best bet.

If you can't though, you can still be successful. Reach out to real estate offices in your area and show them your portfolio.

Go in person to meet them. Like I said, it's all about relationships and you can't really create one through email.

Once you land your first client and do a great job, they'll refer you to other realtors and clients will eventually start to come to you if you kill it! Then it's pretty smooth sailing from there. 😎

QUOTE OF THE DAY

Check out this killer quote from the greatest investor in the world. Warren understands the importance of multiple streams of income.

And that's all we have for you today folks!

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.