Here’s the Best $50-$1,500 To Spend on Maximizing Your Side Hustle Profits
Written by
Cindy Lamothe
Edited by
Rebekah Evans
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Say you’ve listened to the money gurus and started a side hustle. You’ve begun reaping the rewards of extra income but have decided you could take things a step further and really maximize profits.
But how much do you spend? And what’s worth investing in?
Ryan Whitcher, founder and CEO of Harmony Home Buyers, who built his business from a side hustle into a full-time operation that has completed over 100 house flips, learned crucial lessons about where to invest money for maximum returns.
“My experience growing my estate portfolio and marketing systems gives me unique insights into optimizing side gig investments,” he said.
Below, he shared his insights into the best money you can spend in an effort to maximize your side hustle profits.
Invest in Automation Tools
“Investing in automation tools has consistently delivered the highest ROI for my side hustles when I was starting out,” Whitcher said.
When he began flipping houses as a weekend activity, he was wasting 15 to 20 hours weekly on repetitive tasks like lead tracking and follow-ups.
“Spending $200 monthly on a proper CRM system allowed me to automate these processes, which freed up time to focus on viewing more properties and making offers,” he explained.
This single investment increased his deal flow by 40% within three months while he was still working his day job.
“My experience taught me that many side hustlers mistakenly pour money into fancy logos or unnecessary office space instead of investing in systems that multiply their time,” Whitcher added.
For his real estate side hustle, he said every dollar spent on automation returned roughly $7 in additional profit, allowing him to handle more deals without increasing his hours.
“The key was identifying which factors consumed my time without adding value and finding affordable software solutions,” he said.
Spend on Skills Acquisition
Another high-ROI investment for side hustlers is spending on skills acquisition rather than outsourcing.
“Early in my real estate journey, I paid $1,500 for an advanced digital marketing course instead of hiring a marketing agency for $2,500 monthly,” Whitcher explained.
This upfront investment in his capabilities allowed him to generate the same quality leads at a fraction of the ongoing cost.
“Within six months, the skills I developed generated leads at about 30% of what it would have cost to outsource, creating substantial ongoing savings that directly increased my profit margins,” he added.
Outsource Specialized Tasks
According to Whitcher, another impactful spending category for maximizing side hustle profits is strategic outsourcing of specialized tasks.
“After analyzing my hourly earnings from property deals, I realized I was earning roughly $150 to $200 per hour of focused work finding and negotiating deals. Yet I spent five to six hours weekly on bookkeeping tasks I could outsource for $30 an hour.”
When he finally hired a part-time bookkeeper for $150 weekly, it freed those hours to focus on high-value activities, which translated to an additional deal per month — representing thousands in additional profit.
Invest in a Co-Working Space
“My most surprising discovery was how spending money on a dedicated workspace — even something as simple as renting a desk at a co-working space for $200 monthly — dramatically increased my productivity,” Whitcher explained.
Working from home, he was averaging 1.5 hours of focused work on his side hustle each evening.
After investing in a dedicated workspace, he said his focused time jumped to 2.5 hours per session.
“The mental shift of having a specific ‘work environment’ eliminated many distractions and created clearer boundaries between personal time and side hustle time,” he said.
Spend on Client Experience Tools
“Sound spending on client experience tools produces outsized returns,” Whitcher said. “When it came to service-based side hustles, spending $50 monthly on a professional scheduling system and client portal made my operation appear much more established.”
This small investment, he explained, allowed him to charge 25% higher rates than competitors with similar experience levels because the client experience was significantly more professional.
“The perception of professionalism directly translated to higher income without requiring additional time investment,” he added.
Invest in Proper Accounting and Tax Planning
Finally, Whitcher noted that investing in proper accounting and tax planning has consistently been one of his highest ROI expenditures.
“Spending $800 annually on a CPA specializing in small businesses and side hustles has saved me thousands of deductions I would have missed handling taxes myself,” he said.
Whitcher explained that many side hustlers try to save money by managing their own taxes, but this is often a costly mistake.
“My CPA helps me structure business expenses and identify deductions that typically save me $4,000 to 5,000 annually — a 500% plus return on investment,” Whitcher added.
The common thread across all these high-return investments, according to Whitcher, is that they either multiply your time, increase your earning capacity or reduce unnecessary costs.
“The side hustlers who struggle most often spend nothing — trying to bootstrap everything — or spend impulsively on visible but low-impact items like premium business cards or unnecessary equipment,” he added.
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