Passive Income

johnbears · 09-17-2007, 03:23 PM

For me one very interesting way of making money is to have passive income. That is, you put capital in a business or asset that genarates money for you without you having to be present at all times. This also allows one to save time for other things.

My question to all of you is: What passive income businesses can you think of?

What I came up with:
Getting Rent Payment, Vending Machine, Website with Ads, Stock Dividends, Bonds....

buynick · 09-17-2007, 03:42 PM

Renting a house is not passive. Renters can be a real pain in the ass, and there's very little money in it.

A monthly membership site would be an example of passive income.

xcbellx · 09-17-2007, 04:09 PM

I rent out 2 properties and there is nothing passive about it!!!

Jason G · 09-17-2007, 04:23 PM

Creating Passive Income:

Step 1.) Stop being lazy

Step 2.) Stop reading Robert Kiyosaki Books

Step 3.) Find something you love and put your heat and soul into and you will find yourself in longterm a very rich individual if you can manage your money properly.

Step 4.) Read every book you can find about managing your business and money.

Step 5.) Find books on how to invest (LONG TERM)

Step 6.) Stop trying to perfect your short game, because its going to led you no where and if does led into money it will only be there for so long (BECAUSE ITS CALL A SHORT GAME!)

If you wish to thrash at me for this post, I'm only here once in a blue moon, you can find me at www.younggogetters.com

Cognition · 09-17-2007, 04:50 PM

Quote:

Originally Posted by Jason G

Creating Passive Income:

Step 1.) Stop being lazy

A person's desire to have passive or relatively-passive income does not mean they are "lazy".

Quote:

Step 2.) Stop reading Robert Kiyosaki Books

Let's not start that again.

Aletheides · 09-17-2007, 05:34 PM

The internet is a passive income paradise.

b_miller5000 · 09-17-2007, 08:17 PM

didn't Kiyosaki write "The Art of the Start" - I hear that is a good book

Gaulkin · 09-17-2007, 08:55 PM

Passive income is for lazy people who give up opportunities to passive ventures that cause more problems then solutions.

Young Spark · 09-18-2007, 03:46 AM

Passive income is all about one thing: Making money without much work. It does NOT make you lazy, it is not a lazy person's method of making money AND renting is a passive income in my opinion. ASSUMING that renting comes in the form of a "private mortgage." If you carry a private mortgage, you DO have a passive income.

johnbears · 09-18-2007, 05:33 AM

Excuse me but I do not see the connection between lazyness and passive income. I actually think its a very smart oppertunity. For all I care, you can call me lazy if I do not waste/trade my living time working but instead my money is working for me.

Why do some many banks and insurance companies own property for which they get monthly rent?? Are they lazy??...maybe. Are they smart...hell yea.

So for all of you smart (lazy if you like) young entrepreneurs, what are some other ways to generate passiv income.

Young Spark · 09-18-2007, 01:08 PM

^^ I agree John... its not "laziness" more like "creative."

They have to think about it like this: Do you want to work non-stop with a 30 minute break at work or do you want to sit home and work on other things and STILL make a solid monthly income. Passive income is the wave of the future, although its integrity has been damaged by all these "get-rich-quick-schemes."

That's probably why we are thought of being "lazy."

Oh well, to those who think that: You can continue to wake up at 6am and I'll continue waking up 10-11am ... you get a half hour break, I get a all day break ... you come home and look for dinner and my dinner is already made

See the concept, although I AM NOT THERE YET... that will be compared to those people!

MX5 · 09-18-2007, 01:37 PM

Quote:

Originally Posted by Young Spark

Oh well, to those who think that: You can continue to wake up at 6am and I'll continue waking up 10-11am ... you get a half hour break, I get a all day break ... you come home and look for dinner and my dinner is already made

Please, do tell me your secretes! LOL

Seriously though, I see joining an affiliate program (or two or three) is mostly passive. Depending on what it is you're going after, I'm sure it only takes a couple of hours out of your day to keep things going smoothly, if that. I imagine that depending on the subject, your site/blog can be rather static for some time and still bring in money every month.

That's pretty much how my site is going to be. It's about something that doesn't really change over time (not unless there's a huge breakthrough in the Laws of Physics), so there's really not a whole lot to update the pages with, although there will be a "Currnet Projects" page that WILL be updated as my on-going projects develope when time and funds permit.

The thing about the site I'll be building is that the information that will be on there is a subject matter that is always being asked about, from long-time "hobbiests" to noobies wanting to get into the hobbie. Well, some would call it an obsession, but that's what I'm all about.

Just as an FYI, my avatar might give you a hint on what my site will be about. And it may not be exactly what you might think either.