A 31-year-old musician who once earned $3 in tips while playing guitar has now established a successful career in music and real estate, bringing in up to $70,000 a month.

At a coffee shop, Moses Lin performed a guitar set and received $3 in tips.

The Southern California-based wedding guitarist journeys around the globe, charging up to $15,000 to perform at weddings and mentors other musicians to establish their own thriving businesses.

Lin invests his earnings from his day job into real estate. He acquired his first properties in Little Rock, Arkansas, in May 2020 and now owns eight buildings in his portfolio, along with his own home in California.

Two years ago, Lin told CNBC Make It that he aimed to increase his net worth to $1 million before turning 30.

Before turning 31 in May, he reached a significant milestone.

Earning up to $70,000 a month as a traveling wedding guitarist

Lin, as a wedding guitarist, tailors his services to suit the preferences of couples regarding the duration and timing of his performances, whether it's for the ceremony, cocktail hour, reception, or a combination of events.

His pricing ranges from $6,000 for basic packages to $15,000 for more complex options.

Lin's travel expenses are covered by couples who pay for his wedding crew, which includes a sound engineer and a production assistant who film his work for social media.

Lin emphasizes the importance of investing in team members who help him present himself professionally, which ultimately leads to more bookings. He explains, "If it weren't for my team, I wouldn't be able to charge what I do, so I make sure to take care of them."

In June 2023, Lin fulfilled one of his goals by traveling to Italy to perform weddings in Lake Como and Milan.

In April 2024, he achieved another milestone by earning $70,794 for the month, which included final payments for seven weddings he played and deposits for four future bookings. "It was crazy," Lin remarks.

In 2024, Lin has already earned approximately $275,000 from weddings and real estate, and is projected to make $500,000 by the year's end.

Building a coaching side hustle

Over time, Lin has received inquiries from musicians globally with a consistent inquiry: Could he instruct them on how to establish and expand their own enterprises?

He decided to give business coaching a try to fulfill a role he always wanted in the music scene. "When I first started, I felt very isolated because no one was doing what I was doing, and there was no one to look up to," he says.

Lin explains that wedding photographers can seek inspiration and business advice from experts and influencers, but he never encountered other guitarists and traveling musicians operating in the wedding industry.

Initially, he charged $150 for a coaching session, but recognized the demand exceeded his capacity; subsequently, he increased his fee to $1,500 for a one-hour session.

Lin has coached musicians globally, including those from Ireland, Dubai, Singapore, Chicago, New York, and other locations. He views coaching as a secondary venture and asserts that he will never abandon his passion for performing live events.

"Lin believes that many individuals in the speaking industry no longer perform the task they used to do. Instead, they focus on coaching or teaching, and their advice may be outdated. However, Lin remains committed to conducting weddings and feels that if he ever transitions away from this, people may not trust him to teach them anything."

Managing rental properties: 'It's so effortless that I don't even classify it as work.'

Lin's $1 million net worth is mostly invested in real estate. He made his first property purchase in 2020 as a "pandemic pivot" when weddings were on hold, which he considers one of the best decisions he's ever made.

He opted to purchase in Little Rock, citing lower real estate prices and stable rent as his reasons.

In March 2023, Lin purchased a portfolio of three houses, and in February 2024, he bought another building. The most significant difference between the two transactions is that interest rates were much higher when he bought his more recent properties, compared to the historically low rates of around 3% that he locked in for his earlier purchases.

In 2024, Lin bought his eighth property in cash after putting down close to 50% for the down payment on his portfolio purchase in 2023.

Lin's monthly rental income from his eight properties is approximately $2,500 after mortgage payments, taxes, and other homeownership expenses. Although this income provides some passive income, Lin's primary motivation for investing in real estate is the long-term appreciation of his properties' value.

Lin estimates that he spends "less than an hour a week" on his rental properties, which is so minimal that he doesn't even consider it work. He likens it to a friend texting him and him responding with a thumbs up.

Lin employs a property manager, who receives 10% of the gross rent, to manage all ground-level tasks. Additionally, he has a network of bankers, agents, a project manager for renovations and repairs, appraisers, and inspectors to fulfill other requirements.

Lin wants to concentrate fully on his music business, which generates income, while making his real estate investments as passive as possible.

Lin acknowledges that being an ethical landlord is the biggest challenge of owning rental buildings, as he strives to balance financial gain with treating others fairly.

Lin takes into account tenant applications, turnover, and minimal rent increases when making decisions.

The case for going public with your goals

Since speaking to CNBC Make It two years ago, Lin has achieved several of his professional and financial objectives.

"Announcing his goals to the public was a significant factor in his success," he remarks.

Involving others in your goal-setting fosters accountability and helps connect with individuals who can assist in achieving those goals.

He concludes that if he consistently focuses on a specific goal and dedicates a significant amount of mental energy to it, his mind will constantly search for opportunities.

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