Generating Multiple Revenue Streams | TigerDroppings.com

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Costanza
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Member since May 2011
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Generating Multiple Revenue Streams



Other than your primary occupation, what other types of investments/businesses are you involved in that provide additional revenue streams?

Trying to get some ideas. Thanks in advance







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Crbello4Hiceman
LSU Fan
Lurking
Member since May 2011
450 posts
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re: Generating Multiple Revenue Streams


My brother and I have a little real estate and are thinking of picking up some more. Also, we do a little light stock trading. We each try to contribute $1K per month into our side projects. It helps alot to have somebody to work with who shares the same investment philosophy, has the same financial background, and the same goals. I'd be careful dealing with family though unless you agree on all of the things I mentioned above.





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Costanza
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Member since May 2011
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re: Generating Multiple Revenue Streams


By real estate, do you mean rental properties? Commercial or Residential? Is the hassle factor on these worth the ROI in your experience?





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Crbello4Hiceman
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Member since May 2011
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re: Generating Multiple Revenue Streams


Just getting started in it. The toughest part is making sure you cashflow. Taxes, insurance, and vacancies can be a killer. Make sure to look up property taxes for that specific property and get the # right before you buy. Next, factor in insurance and leave a cushion for premium increases. Finally, factor in a couple months of vacancy per year (could be up or down depending on market). We grew up in the neighborhood we are buying in so we are very comfortable knowing whether a property is a good deal or not. I wouldn't buy in an area unless I was very, very confident the property will gain big value in the long haul. Our goal is to break even at the least and be able to see it for a good chunk more than what we got it at. If rent go up significantly over time in the area, we will cashflow earlier than expected.

Hassle depends on the quality of the property and the quality of your tenants, which is tough to quantify. Also, I am not a real expert so I would try to get advice from someone who isn't as green as me....






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dagrippa
LSU Fan
Saigon
Member since Nov 2004
2125 posts

re: Generating Multiple Revenue Streams


Duplexes...





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bigblake
Member since Jun 2011
977 posts

re: Generating Multiple Revenue Streams


(no message)


This post was edited on 4/6 at 1:26 pm


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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1634 posts

re: Generating Multiple Revenue Streams


Are there any good radio shows that I can find online that discuss stuff similar to this topic?





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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30530 posts

re: Generating Multiple Revenue Streams


quote:

I have even been able to close business deals comping a sales prospect with one of my girls.


You must be a slumlord then.






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Swifty
LSU Fan
Member since May 2012
947 posts

re: Generating Multiple Revenue Streams


Bump for interest. Does anyone here have another revenue stream that doesn't involve real estate?






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UncleLogger
LA-Lafayette Fan
Freetown
Member since Jan 2008
2343 posts

re: Generating Multiple Revenue Streams


quote:

Does anyone here have another revenue stream that doesn't involve real estate?


It's tough. All of the (legal) ideas I come up with always involve me doing more manual labor than I'm willing to do.







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Chris4x4gill2
Alabama Fan
North Alabama
Member since Nov 2008
2071 posts

re: Generating Multiple Revenue Streams


you can look at Dividend stocks. With research you can find 10% payers or bettter, but they will be risky. I would need to buffer those with some solid long term payers (3%).

I am trying to put together a portfolio right now and just starting to research it more in depth but I think I should be able to put together a decent protfolio to return around 6-7% in Divs + capitol gains over the long haul.

Other suggestion would be of the labor intensive variety. Yad work, reselling on Ebay/ Craigs etc.

Although if your a good salesman, you can start a yard service - you get the jobs, handle the contracts, then sub the work out. - take your cut and just have to follow up and make sure work is done.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
84367 posts
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re: Generating Multiple Revenue Streams


Day trading stocks and ETF's.


This post was edited on 10/15 at 1:41 pm


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Fat Bastard
New Orleans Saints Fan
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Member since Mar 2009
16823 posts
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re: Generating Multiple Revenue Streams


quote:

Does anyone here have another revenue stream that doesn't involve real estate?


dividend paying stocks/funds

lending club

I would say tax liens but that does involve RE so nevermind........

I sell some on ebay at times(for chump change, not really a revenue stream).


Also......

unit trusts...i do not have one but i just wanted to throw it out if you are interested.



now, did you consider hookers, blow and dinars??



This post was edited on 10/15 at 4:57 pm


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VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
11870 posts
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re: Generating Multiple Revenue Streams


quote:

you can look at Dividend stocks.






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I Love Bama
Missouri Fan
Alabama
Member since Nov 2007
33273 posts
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re: Generating Multiple Revenue Streams


What's your email Rick. I've got 3 revenues of passive income plus my 9-5.

Don't want to publicly discuss.






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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
16823 posts
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re: Generating Multiple Revenue Streams


quote:

I Love Bama


email me. I want to run something by you and get your opinion.

fat-bastard@live.com






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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
57257 posts

re: Generating Multiple Revenue Streams


I teach college as an adjunct prof. I also referee basketball, soccer and football. I probably make an extra $20,000 per year with all of that.





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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1634 posts

re: Generating Multiple Revenue Streams


thepianocoder@yahoo.com





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bojabu
Member since Sep 2010
1275 posts

re: Generating Multiple Revenue Streams


Websites, and contracting out the things I do at my job. Over the past four years of doing this I've made roughly $15k total, and received about $3k in free/reduced medical care. It doesn't sound like a lot, but my free time spent on these projects is extremely low, 0-40 hours on average.





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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
16823 posts
 Online 

re: Generating Multiple Revenue Streams


quote:

I Love Bama


and all i can say here is my question concerns RE....something you should know something about right?

shoot me an email.

ETA: nevermind....I got with a pro hard money lender and ran it by him. Maybe I was wrong assuming you had knowledge of RE. no biggie.



This post was edited on 10/18 at 9:59 am


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