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Started By
Message
re: Passive Income Discussion
Posted on 7/30/13 at 3:09 pm to TheCaterpillar
Posted on 7/30/13 at 3:09 pm to TheCaterpillar
We had a home in Florida but were traveling to different areas of the country. We would do nothing but work for 6 months to a year and then go back home for a few months and enjoy our home and boat. Not exactly living like a meth head but I put up with a lot of crap to make it work. 
0
Posted on 7/30/13 at 3:46 pm to ThatsAFactJack
quote:
To all the guys suggesting rental properties, that is not something I want to get into until some of my kids are out the house.
With three kids, A condo very close to LSU investment now would save you big bucks in the future when said kids go to LSU.
I can kick myself in the arse for not doing this. Had looked at a few just before my daughter went to LSU. Places are now double in value.
Besides that, I still paid out big money for her to live in BR at the time. :banghead:
Posted on 7/30/13 at 4:23 pm to ThatsAFactJack
quote:
Basically this
Then a DRIP would work for you. Basically it keeps reinvesting in itself until you decide when and if you want the earnings.
Posted on 7/30/13 at 4:25 pm to TheCaterpillar
quote:
I am just impatient about earning money. I have so many things I want to invest in and so many ideas of how to earn money, but I don't have any capital at the moment.
Start small and keep doing it. At your age the importance is being consistent. You'll be amazed at how it can add up.
Posted on 7/30/13 at 4:25 pm to ThatsAFactJack
quote:
I'm still looking to make some passive income
buy a CD, you are welcome!
This post was edited on 7/30/13 at 4:29 pm
Posted on 7/30/13 at 4:51 pm to ThatsAFactJack
Things that do not require a ton of extra time if you know what you are doing:
1) rental property using property manager
2) private lending (secured or unsecured)
3) dividend paying stocks
4) secondary tax liens, foreclose and flip(can also be done through a 3rd party. It is not exactly passive but it yields nice chunks of profitable cash when you sell/flip.
1) rental property using property manager
2) private lending (secured or unsecured)
3) dividend paying stocks
4) secondary tax liens, foreclose and flip(can also be done through a 3rd party. It is not exactly passive but it yields nice chunks of profitable cash when you sell/flip.
Posted on 7/30/13 at 4:53 pm to El Josey Wales
quote:
I'm just glad there's somebody else here that isn't making 6 figures.
My first thought was well, this proves me right in what I told LSURussian the other day. Not that I needed it, far from it as i laid out the reasons in that post but this is the icing on the cake! Hope he sees it!
This post was edited on 7/30/13 at 5:00 pm
Posted on 7/30/13 at 4:56 pm to chickman1313
quote:
you see them anywhere from about 20% as high as 45%
then you are GETTING RAPED!!!!!!!!!!!!!! quote:
ive never seen a more "rapey" business than property management
I am having no problems whatsoever with mine.
ETA: and if you are only talking about condos then nevermind i do not deal with them but regardless you are getting raped paying those fees.
This post was edited on 7/30/13 at 5:05 pm
Posted on 7/30/13 at 4:59 pm to Ric Flair
quote:
I think its 10% of the rent
nope. not on mine. Mine start at 8% and get even lower the more properties you have with said manager.
Posted on 7/30/13 at 8:56 pm to Fat Bastard
I don't get why people rent out houses.
Commercial FTW.
Commercial FTW.
Posted on 7/30/13 at 9:06 pm to nolanola
quote:
Commercial
Probably costs a lot more???
Posted on 7/30/13 at 9:20 pm to ThatsAFactJack
Look into reffing soccer/basketball etc. You literally get paid to work out
Posted on 7/30/13 at 10:31 pm to El Josey Wales
quote:
I'm just glad there's somebody else here that isn't making 6 figures.
You and me both.
Posted on 7/30/13 at 10:36 pm to bulldog95
Invest in land.
Our family has 300+ acres and we get it thinned out ever so often.
We had one 50 acre section clear cut in 1997 and got $200000 for that. We had a 100 acre section thinned in 2010 and got $50000 (timber prices sucked but it needed thinning to let the others continue to grow and to plant new seedlings).
Our family has 300+ acres and we get it thinned out ever so often.
We had one 50 acre section clear cut in 1997 and got $200000 for that. We had a 100 acre section thinned in 2010 and got $50000 (timber prices sucked but it needed thinning to let the others continue to grow and to plant new seedlings).
Posted on 7/30/13 at 11:30 pm to ThatsAFactJack
Coupons... rarely do i ever pay for toiletpaper, papertowel, toothpaste, cleaning supplies laundry soap, etc
Often i make money buying stuff as well
Often i make money buying stuff as well
Posted on 7/30/13 at 11:34 pm to bulldog95
Storage locker auctions
Posted on 7/30/13 at 11:45 pm to Broke
quote:
There are no free rides. Money just doesn't fall out of trees. If you want more income, you go out and hustle.
Posted on 7/30/13 at 11:52 pm to Fat Bastard
quote:
2) private lending (secured or unsecured)
Have you done a lot of this ? Any resources for best practices?
Posted on 7/30/13 at 11:52 pm to SpicyStacy
quote:
Coupons... rarely do i ever pay for toiletpaper, papertowel, toothpaste, cleaning supplies laundry soap, etc
Often i make money buying stuff as well
what websites do you use to help you with this ?
Posted on 7/30/13 at 11:55 pm to Fat Bastard
quote:
) rental property using property manager
2) private lending (secured or unsecured)
3) dividend paying stocks
4) secondary tax liens, foreclose and flip(can also be done through a 3rd party. It is not exactly passive but it yields nice chunks of profitable cash when
Have done all these except number four. I'm planning on adding many more rental properties if things continue working how they are.
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