Tentmaking Tips

How can the guy teaching us about travel hacking using credit cards tell us to never get a credit card?

Haha - great question!

Here’s the reason.

A great case can be made for never getting a credit card.

In fact, if you get a credit card or multiple credit cards, you should know you’re taking a risk.

Period. End of story.

Having credit cards is like playing with fire. Generally speaking, it’s a bad idea, but some people, through years of financial wisdom, have learned to “play” with fire in a way where the likelihood of getting burned is very low. They may choose to take the risk with significant guardrails in place to keep them from getting hurt.

They are the exceptions to the rule.

Perhaps that’s you and me.

I don’t think the “rule” is that people should have credit cards. I think it’s the exception to the rule.

I think the best general wisdom is...

More and more people are starting to earn money this way.

Many of them have a blog, or a newsletter, or a podcast, or a YouTube channel.

They also actively share helpful information on social media.

They have courses, ebooks, communities, and coaching programs.

And they often work from home and make money while they sleep. Pretty cool, right?

Having an online business can be a great extra stream of income to support your ministry. And it’s easier than ever to get started.

I started TentmakingPastors.com in 2020 to help pastors, missionaries, & Christian leaders earn extra money in their spare time to supplement or replace their incomes. And I’ve made so many new friends along the way. Plus it’s been a great extra stream of income for our family.

You may be thinking, “How do you even start an online business?”

That’s what I’d like to discuss in today’s newsletter.

The first and most...

Most cards don’t have great redemptions for grocery spend.

The Chase Sapphire Preferred is 1 point per dollar spent on groceries

The Chase Freedom Unlimited is 1.5 points per dollar spent on groceries.

These are two of our main daily use cards & that’s not a great point redemption.

Recently, we applied & were approved for a new card that we chose mainly because of its grocery benefits.

Which card is it?

The American Express Gold Card.

It gives you 4 points per dollar spent on groceries up to $25,000 total per year.

Wow!

With my Chase Freedom Unlimited card, I’d earn 37,500 points (1.5x) if I spent $25,000 on groceries in a year.

But with the AMEX Gold card, I’d earn 100,000 points (4x) on that same grocery spend! Whoa!

And those 100k points are worth about $2,000 in free travel.

That’s a nice extra vacation a year just by putting your grocery spend on a strategic card.

Now, if...

Many different licenses can take a long time to get.

A Real Estate License is not one of them.

If you move quickly, you could probably get your license in 3-4 weeks.

If you want to take a bit more time, you can finish up easily in a few months.

And that’s just working on it during evenings & weekends.

Taking the courses & tests can usually all be done online, with the exception of the final exam. You can also take the courses in person, if you prefer, but it’s usually more expensive.

After you take the courses, you’ll have a final exam along with fingerprinting, background checks, and other documentation you’ll need to submit.

You can find discounts & coupons for the online courses, so the cost to get your license is fairly inexpensive. Then you’ll have some ongoing costs which should usually be more than covered by doing one transaction each year (or even one every few years).

If you’re assuming it’s not...

“Treat making money as a hobby.”

For most of us, we don’t think about making money this way.

A hobby implies you do it on the side for fun. That it’s not your main gig.

But, for most of us, making money is a full-time job or a business that we work in full-time.

Of course, there’s nothing wrong with that.

But how great would it be if you made all the money you needed as a hobby and you could spend most of your time doing whatever the Lord led you to do?

Some pastors have told me that they’d probably be in a different ministry position if it wasn’t for the money. And they mean this in the most sincere way possible. Not that they’re in their current position for the money, just that what they have a vision for doing doesn’t pay much or anything at all. As a result, they feel they can’t pursue that passion yet, because they need more money than it can...

If you missed the first six, here they are:

$140,874 Profit - Student Deal Highlight

$13,000 Profit - Student Deal Highlight

$26,000 Profit - Student Deal Highlight

$23,637 Profit - Student Deal Highlight

$50,000 Profit - Student Deal Highlight

$81,500 Profit - Student Deal Highlight

Profit

The student in today’s deal highlight made $6,000 in profit. This was a fire damaged property which basically sold for the value of the land. The student originally had it under contract for $20,000 but was unable to sell it. The seller was eager to sell and was willing to reduce the purchase price to $8,000. The student found a buyer who was willing to pay $14,000, leading to his $6,000 profit for the land with an unsalvageable home.

List

The...

I’m constantly amazed by how much student loan debt is out there.

Even people who didn’t do masters or doctoral work can have tens of thousands, even hundreds of thousands, of student loan debt.

And I know it is suffocating so many people.

If you have student loan debt, I want to help you get it paid off ASAP. For many of you, it’s hung around way too long.

While paying off a little at time will eventually get you there (after years & years), putting huge chunks of cash on it will certainly get you there much quicker.

Where can you get huge chunks of cash?

You may be able to guess my answer.

Real estate.

In real estate, you are paid for value delivered, not for time spent. As a result, you can generate significant chunks of cash without spending the time you’d have to spend working overtime or at an hourly side gig.

There’s multiple ways to do this.

...

I just applied for one & was approved!

These are running an all-time high welcome bonus of 90,000 points for $6,000 in spend in the first 3 months.

You can redeem those 90,000 points for $900 cash OR you can use those points to redeem over $1,800 in free travel (if you have a premium Chase card like the Sapphire).

The name of the cards?

It’s 2 sister cards that are running this same bonus.

The Chase Ink Business Unlimited and Chase Ink Business Cash cards.

Now, I know what you’re thinking.

I don’t have a business, so how can I get these cards?

I’d ask, are you sure you don’t have a business?

Is there anything you get paid to do on the side?

Airbnb?

Tutoring?

Weddings?

Counseling?

You may have a business in the eyes of these credit cards companies & you don’t even know it.

It’s likely a sole proprietorship. You haven’t...

We find these by using marketing to contact sellers & express an interest in buying their property.

Part of the reason we’ve bought all of our properties this way is because it was very difficult to find a “deal” on the MLS. Too much competition.

Well, with recent market changes & higher interest rates, many investors are beginning to find “deals” on the MLS.

What’s great about MLS “deals” is that they don’t have any marketing cost, which increases your profit.

Our team is now daily making offers on MLS properties. And the best part is that these properties are being automatically emailed to us each day.

Here’s how we’re finding good MLS deals:

1. Have your Realtor friend set-up...