Listeners Q&A for 8-22-22 – Epi-3150
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I thought it was about time for a good old fashioned Jack answers your questions show. Most of this came up in the past couple weeks by email and a bit here and there from some stuff on social media.
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The volume of daily mails I get is sort of insane the above will give you the best shot at getting an answer. I will also note that I often do give short answers in direct response or post material sent to me on social media even when it doesn’t get directly on the air.
Today I answer your questions on hydroponics, the dangers of power in the wrong hands, side hustles, 2 million more kids leave government schools, preserving meat with salt, income producing properties and more.
Join Me Today to Discuss…
- What you can and can’t really do with “Kratky” hydroponics and what Kratky means
- More on the dangers of people who should not have power or control gaining it
- An update on the IRS video I showed on Friday, it is from 2017, but that changes nothing about what I said
- When do you bother moving to an LLC, S Corp, etc. for a “side hustle”
- More evidence that homeschooling is really starting to hurt government schools just like I said it would
- Thoughts on preserving food, especially meat with salt
- How does a “hardware wallet” provide additional security if you can just restore it with a seed phrase
- I am thinking about developing a tiny house income property, here are some of my thoughts on what it would be like
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Short term rentals- My husband and I built a garage apartment in central Austin on our property. It was a great experience. Good investment and fun. However, we were mostly retired. I’m not sure someone with yours and your wife’s workload could manage the bookings and cleanings if it’s busy like ours was. We investigated a service and they wanted 17% to manage it. It would not have been profitable in that case. Definitely recommend only renting to couples (no children or pets) and one bedroom. Otherwise way too much laundry and destruction. We had it 9 years and only had 2 less than perfect guests and all 5 star reviews except two 4 star in all that time. Managing and cleaning it ourselves was probably why we were so succeeded. We used Airbnb and VRBO but I would also recommend eventually having your own website. Those services became more and more of a rip-off to our guests as the years progressed. Once you have a good history your repeat guests could come to your own website and save on the ridiculous fees. Good luck with yours should you decide to do it! Carol
I would never rent a room in a large multi room house. Probably a shared bathroom situation too. Very noisy also. Some people like to party. Plus, you have people checking in and out at different times and cleaning services roaming around. I own my home which I currently live in. I rent out a room and private bath so I’m at one end of the house while guest are at the other end. I am not a resort destination either. I get guest who come for work related visits, weddings, family reunions, concerts, football games (Michigan), visiting friends. It’s a small part time hustle for me and I never even have to leave the house. I tell my guests I’m a motel clerk of a one bedroom motel. It’s not for everyone but it works for me.
What does that have to do with what we discussed in this episode?
Oh heck Jack, I don’t know. Even if you didn’t have a lake and just had some tiny houses, people would still come for various other reasons.
Regarding your tiny home concept, I had two ideas.
1. What about having someone come and give a workshop on how to build a (for example) foamcrete tiny home? Once one was built, then every 6 months, have another workshop to add another. And so on, until there were as many as you wanted.
2. This idea is more out there. But what about making a sculpture garden to make your property a sort of special destination. Do a search for famous sculpture gardens to get an idea of what this could be.
Just some ideas for what they are worth.