Hobbies for 2020
While these are hobbies, as my immediate lifestyle does not depend on them, I often enjoy using revenue generation versus ‘effort & cost’ as a benchmark of the success of a pursuit. The hobbies below will be judged by their revenue generating capabilities. That will be an important factor in deciding whether or not to pursue them on an on-going basis. As an example, real estate and photography have been tried and have been proven successful in their ability to generate revenue. Therefore I am continuing them as hobbies. Ride Sharing is new on my list and therefore is in the ‘trial’ phase.
The list below is in priority order. I assign priority by estimating the potential return that a given hobby can provide. I know that most people don’t look at hobbies in a financial context, but that’s just the way that I think.
Note: There just isn’t any way that COVID-19 isn’t going to screw me over for my hobbies in 2020. So, please take all of this with a grain of salt. I will try to do as much as I can. But, the real estate and Airbnb markets will likely decline heavily. The rental market will decline without the students that flood this town. Luckily, a rental unit that is a 3 bdrm, 2 bath is more likely to attract a family. Family rentals are fairly hard to find. So, as the pandemic develops, the long-term rental market may be my only bet. Also, due to COVID-19, no driver’s license exams are being conducted. So, I cannot get my class 4 license, as of today anyway. More to follow.
Real Estate: I will continue to try to sell my townhouse. While doing so, I will continue with minor improvements. As a second angle, I will prepare to rent it out on Airbnb through the summer ‘tourist season’. I realize that Summer 2020 may not reflect the tourist seasons of years past (due to the COVID-19 pandemic), but I will prepare for the possibility of creating wealth in the expectation that the tourists will return one day. I will also solicit opinions on what it would rent for under a long-term agreement (one year lease). It has come to my attention that the townhouse next-door (same as mine but not a corner unit – like mine is) is being rented for $2,200 monthly, as a 2 bdrm, 1 bath. The owner continues to occupy the upstairs loft area and the two car garage, only renting out the remainder.
Below is what I plan to accomplish in 2020.
|En-Suite||In-Progress||April 5th 2020||Baseboard and silicone restoration|
|Window Shade Repair||Not Started||April 30th 2020||Dining room second level window|
|Basement Stairs||Not Started||Unknown||Clean and paint basement stairs|
|Airbnb – Personal Items||Not Started||May 1st 2020||Prepare for summer rentals|
|Real Estate for 2020|
Ride Sharing: The first ride sharing company has been approved for Victoria, BC. Since I have a well maintained small SUV (Audi Q5), I thought I might participate in ride sharing. So far, it looks like ICBC is putting the entire cost of vehicle insurance onto the company, not the car/driver. That makes it very low cost. If I can do that part-time without incurring annual fees for insurance, then why not be signed up and ready to go. Even doing it part-time would be bonus income. Of note is that Kabu requires vehicle to be 10 years or newer, so mine would have to be replaced in 2022. That gives me two years for a proof of concept, to gauge income level. In order to participate, I must accomplish the following.
|Obtain a Class 4 License||In-Progress||Unknown||Road-Tests are not being scheduled (COVID-19)|
|Criminal Record Check||Not Started||Unknown||Vulnerable Sectors – Kabu is preparing to provide|
|Driver’s Abstract||Not Started||Unknown|
|Vehicle Inspection||Not Started||Unknown||Kabu is negotiating with Canadian Tire ($80 – $150)|
|Ride-Sharing for 2020|
Photography: While I have posted hundreds of raw pictures on this site, I finish some of the photos and upload them to stock photography sites. In 2019, I set up the infrastructure required and I also made my first sales. In 2020 I will continue the process by cherry-picking some photographs to be finished and uploaded to stock photography sites. Below is task list for this hobby.
|Select photos for finishing and upload||On-Going||On-Going||Select from Europe trip. Upload to ShutterStock|
|Review and update key words||Not Started||For ShutterStock uploaded images|
|Open additional Stock Image accounts||Not Started||iStock and Adobe Stock|
|Stock Photography for 2020|