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re: How do I build passive income?
Posted on 11/11/19 at 6:58 pm to Fat Bastard
Posted on 11/11/19 at 6:58 pm to Fat Bastard
So you’re telling me maintenance and property management fees can’t take away profits?
Posted on 11/11/19 at 8:17 pm to DeafJam73
What do you do for your regular job?
There’s a market online for tutorial videos and courses. Make some quality YouTube videos to advertise courses for your field. Can be how to enter your line of work or professional development for active workers.
It’ll be more semi-passive, but there are people making tons of money off of tutorial channels/sites and all it takes is effort and quality.
There’s a market online for tutorial videos and courses. Make some quality YouTube videos to advertise courses for your field. Can be how to enter your line of work or professional development for active workers.
It’ll be more semi-passive, but there are people making tons of money off of tutorial channels/sites and all it takes is effort and quality.
Posted on 11/12/19 at 11:27 am to StringedInstruments
I do inspection for an advertisement company. I don’t think that would draw a crowd on youtube. I thought about youtube, but I have no idea what kind of content I would create.
Posted on 11/12/19 at 4:18 pm to DeafJam73
I love threads like this as i'm thinking daily on how I can create additional revenue streams. I own a business and have a 5 figure sum sitting in a bank account that I want to do something with. I have thought of investing in a duplex as a first time real estate purchase, letting that materialize until I could build up capital to buy another duplex. Ultimately having the funds available to have several duplex's and then purchase a small apartment community after liquidating the duplex's. I've also thought about purchasing a FEDEX route or a bread truck route, but have read horror stories about those type of investments due to relying on someone else. There is so much opportunity out there that I haven't taken advantage of due to just not having time to complete my due diligence. I can't put the money into a Roth as I make too much money. I've thought about putting it into the stock market, but have a fear that the market is going to shrink faster than it's going to grow in the next year.
Threads like this give me ideas that I haven't thought of and perspective from other people. So, thank you to the MB for the replies. There's no quick way to earn cash flow right now so patience is your best friend.
Threads like this give me ideas that I haven't thought of and perspective from other people. So, thank you to the MB for the replies. There's no quick way to earn cash flow right now so patience is your best friend.
Posted on 11/12/19 at 4:57 pm to CHiPs25
quote:Look into backdoor Roths
I can't put the money into a Roth as I make too much money
Posted on 11/12/19 at 8:54 pm to CHiPs25
read it
quote:
I love threads like this as i'm thinking daily on how I can create additional revenue streams. I own a business and have a 5 figure sum sitting in a bank account that I want to do something with. I have thought of investing in a duplex as a first time real estate purchase, letting that materialize until I could build up capital to buy another duplex. Ultimately having the funds available to have several duplex's and then purchase a small apartment community after liquidating the duplex's. I've also thought about purchasing a FEDEX route or a bread truck route, but have read horror stories about those type of investments due to relying on someone else. There is so much opportunity out there that I haven't taken advantage of due to just not having time to complete my due diligence. I can't put the money into a Roth as I make too much money. I've thought about putting it into the stock market, but have a fear that the market is going to shrink faster than it's going to grow in the next year. Threads like this give me ideas that I haven't thought of and perspective from other people. So, thank you to the MB for the replies. There's no quick way to earn cash flow right now so patience is your best friend.
Posted on 11/12/19 at 9:31 pm to mrgreenpants
Seems like this is good if we don’t have a shrinking of the real estate market. I know over 20 years a 2-3 year period of little economic growth is very small in the scheme of throngs, however, if any recession is like The Great Recession then you’ll lose everything. Chances of another recession like we had is also minimal but that’s the only one I’ve had in my life so I’m gun-shy.
Posted on 11/12/19 at 9:38 pm to CHiPs25
#1
dont over leverage yourself. cash is king.
#2
profits via the nickerson methods come from improvements/creating value... not necessarily from price appreciation
if you are an investor... you pray for another "great depression".
if you have the cash ready... you jump head 1st into any such opportunity
dont over leverage yourself. cash is king.
#2
profits via the nickerson methods come from improvements/creating value... not necessarily from price appreciation
if you are an investor... you pray for another "great depression".
if you have the cash ready... you jump head 1st into any such opportunity
Posted on 11/13/19 at 9:36 am to CHiPs25
The ideal method to fund your stock market Acct would be to dollar cost average each month, then if there’s a sudden drop it should be lessened to only the recently bought shares.
I’ve been doing the same with cash, but recently bought a house near the beach to enjoy that vs investing more. It was pretty cheap and I can likely flip it for a tidy profit after only 6 months of owning.
I’ve been doing the same with cash, but recently bought a house near the beach to enjoy that vs investing more. It was pretty cheap and I can likely flip it for a tidy profit after only 6 months of owning.
Posted on 11/13/19 at 12:24 pm to DeafJam73
Ive been wanting to purchase a few rentals... only thing that keeps me is seeing the occasional pains that come with it.
Good or bad renters can make it or break it. A good renter is a jewel.
Good or bad renters can make it or break it. A good renter is a jewel.
Posted on 11/14/19 at 6:49 am to DeafJam73
Great question.
We earn an excellent living and save a lot, but we also work 50-60 hours per week at least (each). I am not sure if we have any spare time to even manage another rental property. We barely have enough time to manage our savings.
I guess another good question is how those of you with multiple income streams go from a salary job to having enough spare time to manage/contribute to other businesses. Or do you just blur the lines between family and business?
Time is the resource I seem to run out of and can’t seem to manage properly. I am getting tired in ways that sleep can’t help with - short tempered, unable to think about anything but work, etc. I need to unplug.
Maybe another rental property would be a nice distraction.
We earn an excellent living and save a lot, but we also work 50-60 hours per week at least (each). I am not sure if we have any spare time to even manage another rental property. We barely have enough time to manage our savings.
I guess another good question is how those of you with multiple income streams go from a salary job to having enough spare time to manage/contribute to other businesses. Or do you just blur the lines between family and business?
Time is the resource I seem to run out of and can’t seem to manage properly. I am getting tired in ways that sleep can’t help with - short tempered, unable to think about anything but work, etc. I need to unplug.
Maybe another rental property would be a nice distraction.
This post was edited on 11/14/19 at 6:58 am
Posted on 11/14/19 at 7:02 am to DeafJam73
Here’s a novel idea. Aren’t you tired of the only suggestions you get on the money board for second income stream is doing yard work and becoming a landlord? Why not expand knowledge, increase your mind, and do something that has a lasting impact on civilization: write.
Write books
Publish and sell through Amazon
Sit back and donate the cash
I have about 15 books on Amazon on topics ranging from Christian spiritual disciplines to romantic travel weekend trips in the South to the history of poorboys. I try to write a new book every six months. You can really build a big readership if you vary your subjects.
I currently pull in about 4K a month in royalties, all of which is directly deposited to charities.
Write books
Publish and sell through Amazon
Sit back and donate the cash
I have about 15 books on Amazon on topics ranging from Christian spiritual disciplines to romantic travel weekend trips in the South to the history of poorboys. I try to write a new book every six months. You can really build a big readership if you vary your subjects.
I currently pull in about 4K a month in royalties, all of which is directly deposited to charities.
This post was edited on 11/14/19 at 7:04 am
Posted on 11/14/19 at 7:49 am to TulaneLSU
quote:damn dude
currently pull in about 4K a month in royalties
Posted on 11/14/19 at 8:03 am to jimbeam
Currently I’m writing Distinguished Gentlemen and Illustrious Ladies: Lessons on Refinement in an Age of Trash, which I believe will be a success.
Other streams of revenue could come from starting a tour company. The Hard Rock collapse has delayed my Poorboy Tours of NOLA debut, but I’ve had nothing but positive feedback about it.
If you have several popular books you will do far better than I have. Each sale of a $20 books nets you about $11-12 in royalties. One big hit will be a goldmine. But it’s hard to write a big hit.
Other streams of revenue could come from starting a tour company. The Hard Rock collapse has delayed my Poorboy Tours of NOLA debut, but I’ve had nothing but positive feedback about it.
If you have several popular books you will do far better than I have. Each sale of a $20 books nets you about $11-12 in royalties. One big hit will be a goldmine. But it’s hard to write a big hit.
This post was edited on 11/14/19 at 9:03 am
Posted on 11/14/19 at 9:36 am to TulaneLSU
quote:
I have about 15 books on Amazon on topics ranging from Christian spiritual disciplines to romantic travel weekend trips in the South to the history of poorboys. I try to write a new book every six months. You can really build a big readership if you vary your subjects.
Based on your posts here, I can only imagine the Amazon reviews. Share a link to your author's page with us, why don't cha?
Posted on 11/14/19 at 9:49 am to hungryone
He can't because he's full of shite
Posted on 11/14/19 at 10:36 am to DeafJam73
Buy a 4 plex walking distance to a university. You’ll always have renters.
Posted on 11/14/19 at 11:15 am to hungryone
The fact that you idiots believe every word that he says speaks more to your intelligence that it does to his.
The dude is a troll and nothing more...the fact that you all give him the attention he so desperately craves only creates an incentive for him to do it more.
The dude is a troll and nothing more...the fact that you all give him the attention he so desperately craves only creates an incentive for him to do it more.
Posted on 11/14/19 at 11:19 am to iAmBatman
If I didn’t get your attention, batman, I’d stop posting altogether.
Posted on 11/14/19 at 11:33 am to TulaneLSU
Writing ebooks is actually a great way to create passive income if you have a little talent and patience.
But TulaneLSU is 100% lying about his
But TulaneLSU is 100% lying about his
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