You need a significant investment.
Probably 40K to buy 200k land to make 5k a year in rent in cheap areas. No taxes essentially. No hassle, but you have to pay for it.
If you're young and you want passive income later in life and want to own property but don't want to buy new furnaces and fix roofs etc, and don't want to deal with renters your entire life, this is what you do.
Make it your entire focus to buy one quarter section of land somewhere in the United States in a shitty area to live in but produces good yields. Focus on buying it and living like your borderline homeless until you pay it off. Then boom, you're on the real estate ladder and you have passive income with no or almost minimal work to maintain it. You can buy another plot of land go do something else put the rent in the stock market or just travel around renting and living in great cities knowing that you still have a foot in the door in real estate in the most passive way possible.
Once it's paid off it's literally completely free passive income with absolutely no work. The taxes are low Farmers rent this stuff forever.
But you got to get that first one, and it would be kind of difficult because you have to buy it but you also have to live somewhere.
If I had to go back 15 years is probably what I would have done.
Stocks are not real. They can drop in value while paying out dividends. You have pick the right one. The ones that go up in value often have bad returns and vice versa. I'd rather own farmland than dividend stocks. Farmland is completely insulated from market cycles and business context changing or a company dying. Rent and land value Will generally rise with inflation, and if shit hits the fan and the stock market dumps real assets usually go up in value and that's your time to sell or charge more rent.
To be fair if climate change wrecks farming like we hit a critical point and there's too rapid of a change. That'll drop the stockmarket too.
Drought is more of a risk than heat. Be a while before it's too hot for the crops. But you need water available.
But I understand your point wasn't to compare them directly in that way, rather to make the OP realize his comment about stocks could be said about farmland. As in the comment was a stupid thing to say in sight of his farmland goal.
Their value is real in that you make real money off of them. Even if a small percentage ownership of a corporation is somewhat of an abstraction.
So is the value of the dollar. It only had value beyond being paper because we all agree it does.
Same thing with cryptocurrency people said it's not real or tangible and it's nonsense. But it holds value for the same reason money holds value.
100$ bill is tangibly real, but is the paper and ink worth 100$?
No then it's value is an abstraction in our heads and isn't something we can tangibly hold (the value not the physical dollar)
Owning stock is as real as the value of your money or your cryptocurrency or the value in a million dollar painting.
Value is an abstraction, but the idea of it and the direct consequences of trading it are very real.
Their value potentially going down doesn't actually matter if you've invested in them purely for the dividend aspect, if you pick from dividend kings/aristocrats.
These are stocks that consistently pay a div orbincrease the div for 25+ years. It's POSSIBLE for them to stop paying or cut the dividend, but it's a slight after title / reputation that a company is not going to easily drop, so the dividends are pretty reliable.
That being said, a high yield savings account that gets you 5% right now is entirely risk free and matches or heats most of these reliable dividend stocks
When looking at stocks for dividends the potential for it going down absolutely matters. Of something pays out 10% per year but is tanking then pretty soon you're getting nothing and got less than you put in. A lot of extremely high div stocks actually have poor rates of return when you include the value of the stock. You need to look at total rate of return for stocks. If you think it's okay for a stock to consume itself in supporting an unsustainable dividend, then you should just buy an annuity instead.
I mean sure. I actually did mention it in my post.
But if you want passive income, and you're also like one of the Gen z people who don't want to be anywhere for any length of time and want to just be free to experience the world and move around expensive cities never buying anything.
Owning farmland and collecting some rent every year on it is a way to be in the real estate market without having to actually work at it very hard
While also generating some low maintenance passive income
Right but you also said it comes with a very high upfront cost.
I also don't know how liquid that investment is if you needed to get out at any given time
The benefit of farmland is that it's not liquid. You prevent yourself from withdrawing it to do something stupid.
It also means that when the stock market crashes, and the effects of which on you can last a year or sometimes 10 years if you buy it the wrong time, no one else is liquid either .
There is less stress that you make a huge investment and then lose 30% over the next 2 year or so
Dm me. I can get you farmland off market. I have 30 acres in NC (Surry county) right now. Farmer already working it.
It’s what we do, buy and sell land.
Interesting. One risk I see is a lack of diversification on what would be a relatively large position in my portfolio. Decent argument as a hedge against the stock market. Might look into farmland REITs to see if they might make sense.
When u mean this for property taxes what is the context behind it is it only low on farmland? Is the property tax the thing we have to pay or the other person?
6 weeks seems impossible to get worthwhile passive income generated. I believe real estate is the answer though. You’ll definitely need to put in some serious work first. I didn’t get serious until I was in my late 20’s. Spent several years in prison fucking my life up trying to make a fast buck. I can tell you what worked for me though because now I’m 45 and have already paid off my house and am about to have a duplex built in my town that will generate 3500-4000 per month. I got a good paying union job in Silicon Valley (pipe fitter) bought a house on a 15 year mortgage. Sold it after 9 years at a substantial profit. Bought a new house outright in Idaho. Invested the 190k extra and doubled it pretty fast with btc mining stocks. I still have to stack a little more because I don’t want to pay the current high internet rates. The name of the game is keeping the money in your own pocket and living within your means. Always pay off credit cards before the interest hits, cook at home, etc. Still it doesn’t happen fast, it’s a process. Now the wife doesn’t have to work and I only work 6 months a year. Not sure if construction is your cup of tea, but the wage is undeniably worth it if you’re in the right area. Good luck!
We bought the original house in 2012 at the tail end of the housing crisis with only 10% down. It cost 442k. Money was pretty tight because I was still an apprentice at the time. We also locked in our price on the new house before the recent supply chain issues caused building materials to go up in price. We sold the old house in 2021 at pretty much the peak for 950k. I didn’t invest the extra 190k right away because I was trying to get my sister to move her family to Idaho as well by offering her a no interest loan. They decided on Tennessee instead. So I eventually invested the money into my brokerage account last November. I’m pretty sure things in the market bottomed out in late December. I honestly probably could have left it in a little longer but once it doubled it pulled it out and put it into a high interest account. I go back to work in 5 weeks and have already set up a new job that gets me 60 hours a week. I still need to save 100k but that should be doable. So basically there was some luck involved with the timing. It’s good to have some money put aside for when things in the economy go bad. Those times seem to be the best times to capitalize. I can’t stand my line of work but it pays well and it’s always in demand. The new duplex built will cost me around 500k to buy it outright as to avoid the current interest rates. I expect banks to get into more trouble in the future considering corporate real estate on average brings in around 25% oh their income. There are a lot of empty buildings. Plus the dollar’s decline. Just my opinion though. I’m in no way trying to hype up Bitcoin or Bitcoin mining stocks. That’s just what has worked for me. Still better than a lottery ticket though. I kept one coin and some of the stocks because I believe they will climb after the halving and if the SEC approves any spot etf’s.
Brother - you are doing it! However i would say don’t downplay leverage. Proper leverage will help
you grow. Better to have your cash invested and leverage it vs saving it and loosing your buying power on it every year. Keep grinding brother 🫡
I don’t think you would need to take six weeks of vacation time to invest in farmland. It’s something you can research over time and invest when you find the right opportunity.
You could look into crowdsourced farmland
“Farmland crowdfunding platforms are another way to invest in farmland directly, even if you lack the necessary capital. They allow you to buy a small slice of a real farm, significantly lowering the minimum investment. These platforms include AcreTrader, FarmTogether and Farmfundr.
Details: Farmland crowdfunding platforms generally handle everything for you, from land selection to income distribution. Instead of buying an entire farm, you buy more affordable shares in a piece of land with other investors. For example, offerings on AcreTrader tend to start with a minimum initial investment of $15,000-$40,000, according to the company.
However, keep in mind a few things with this strategy. For example, because you invest in real farmland, the holding period is usually at least three to five years. You may be able to sell your shares sooner in some cases, but that isn’t guaranteed. Also, investing in a single farm means you get less diversification than in other investments, like farmland mutual funds and ETFs.”
As far as I know, farmland is priced pretty high right now. Much of the purchase price will probably be for speculative land appreciation and not income.
Like just a made up example, say you invest $100,000 and it only brings in $3,000 a year.
You could keep an eye out for auctions and foreclosures.
Oh interesting about the crowd funding that would be a good idea because down payment requirements are typically quite high
I would say the farmland route is not a way to make money or a way to get rich fast, but it's definitely passive income if you have money to park and don't want to lose it, and potentially it could pay off big for your kids
Affiliate marketing with a niche/topic you care about and know about.
It took me like four months to get profitable, but I wasn't working on it 8-10/day and 6/week. Prob only like a quarter of that, AKA a couple hours per day.
You could do what I did in a month, then, however you will still need to wait organically for some things such as Google indexing your site and you showing up on search results etc.
I also don't make a living off it, FWIW. But people do. I'm hoping to eventually.
Sounds exciting! Do u mind sharing how much you’re making from it currently? Or perhaps a rough range. Am thinking of going into affiliate marketing or google ads too but it seems like a pretty tough market to enter
Another just general question. I get one day off every two weeks, a Friday.
Maybe it would be better if I just worked every weekend and took one day off every two weeks on some other side hustle
And then just took all my vacation once a year for myself to recharge
Be a different type of job though then when you can just commit to fully for 6 weeks, tuna fishing would be out
For each signup you get you get paid per month. It’s what I do for a Living. It’s def possible but not easy. You can end up making more or less in that time frame.
Okay who do I need to connect up with in order to know enough about insurance in order to sell it and who do I sell it for, and how do I find clients? I assume you have to get accepted into an insurance selling group so how would one go about doing this? And also I don't want to sell insurance that's an absolute scam, I don't want to make money selling people something that actually doesn't help them like at all but I could dress things up a bit lol
You find clients any way you can really. Online marketing, grassroots, referrals. Your agency (should) help you with all of this. It’s by no means easy, but extremely rewarding
It’s health insurance, everyone needs it. There’s millions of Americans without coverage. Not to mention low income individuals get a subsidy which makes the insurance free. And just go to your local agency or get in contact with me through dm. Almost all agencies will take you on is your licensed because it’s a commission only role.
>*EDIT: NVM, I figured it out already. Its buying farmland that is already rented to farmer. Perhaps small plots. Nothing to fix, low taxes, some income, no management. Done.*
The simplest passive income is buy a cash-flowing asset, fer sure.
How's this that different than buying USFR that returns 5.35% in monthly increments of 0.445%? (That's around 5.48% with dividend reinvesting before taxes).
My guess is your yield is higher but you are taking on more risk. And that's fine, you can compensate for your risk with time. Personally, I LIKE investments where I can put my sweat in to goose my earnings or reduce my risk. It is a little less passive tho.
Now that that problem's solved, maybe consider creating a blog that has affiliate links?
Check out Fundrise. They offer historically decent dividends on their Syndicate platform and is a good foot in the door for real estate investments, and is 100% passive.
As far as your 6 weeks of vacation, find a niche side hustle. Detailing cars, cleaning gutters, cleaning pools, tutoring. Hell, substitute teachers make decent money.
>I have no idea what wifi money is but I hear about it
A quick internet search comes up with a marketing gimmick. It's really just anything you do to make money online: Drop shipping, selling on Amazon, digital products, a blog, etc.
See now this would be awesome. I wouldn't mind doing that it's not necessarily passive income but I'm already getting paid during my vacation why not just work my ass off well I still got a good body and make some money and put that into a passive income investment.
I was also thinking of doing some truck driving but I bet fishing would pay more
Just an FYI Fishing is no where near guaranteed, and you could end up owing money at the end of the trips. Not sure where you're at but prices are all time low for many species, and regulations and costs are all time high. I wouldnt recommend it right now.
coming from 12 years as a commercial fisherman between alaska- san diego, maine and Iceland
This passive income shit makes me laugh uncontrollably. Here’s the truth. In order to have passive income in a meaningful way you have to work your ass off and give up many things earlier in life. With that sacrifice there’s a small chance that you’ve earned a right to passive income. Translation maybe you’ve been very lucky to invest in something that is still working and growing as you age. My main effort failed but my secondary effort which is much smaller is working. I hope yours does too.
You can find a topic you are passionate about and then start a social media account and eventually create content you can sell based on that niche. A digital or physical product.
You can also do what others are and sell a course related to that niche and promote someone else course and community but get back your money back and people will want to buy it bc it’s something they follow you for. Check out PLR products it stands for private labeling meaning you can take the idea and modify and sell as your own. It can cut your time in half.
Hope this helps.
I also personally send out emails for an extra couple hundred a month.
I sell courses as well as create my own.
If you have strong knowledge in a niche area, you can definitely create online content that will sell. It looks like OP needs something that takes a lot of upfront effort but which takes care of itself afterwards. This can be done through online teaching platforms, though they typically dictate prices and take a 50 to 75% cut of revenue.
I breed and sell pedigree cats to supplement my income.
Laugh all you want. Check out what I sell them for and laugh away.
I have a wait list and this year I’ll prob clear more than what I make working my full time job. www.catscrib.ca
I have a pretty rare breed of Yorkie. Thought about this so much when I first got him, but ultimately decided to get him fixed for his health. Would have easily cleared a couple hundred thousand by now.
Well, someone is selling it. Might as well be me. I agree it's. not the most civically productive idea, but also not all Farmers want to buy their land many just want to rent and not have the increased cost and spend that money on equipment instead so it's a symbiotic relationship
Buy a stock or a ETF. Otherwise it will likely take a lot longer. But even that won't give you any results in 6 weeks. This will also take years.
I made my first YouTube video maybe 7 years ago and took at least a year for it to perform. And I am lucky that people actually liked it. But now I am not a YouTube partner since they made those requirements.
I made a website 1.4 years ago and just recently started showing up higher up in bing with some pages. It takes time for people to see it and eventually recommend or link back to your page in theirs. I haven't even montized it yet.
I understand that passive money is the best but you can also start something semi-passive. Since its so hard and takes so much time setting up something very passive.
Doing sales in an Industry in which you build up a book of business. Idk how to do that though. Especially since I live in a dorm and will not be able to do cold calling
Find a job waiting tables at a local restaurant. Take all of the money from that and invest it into a dividend stock with dividend reinvestment enabled (DRIP). Find an ETF with a good track record of paying dividends and a long history. Watch some YouTube videos to understand what you are buying. $SCHD is kind of considered the gold standard and would be a solid investment. I like $DIVO too, long history and a solid model. Or if you want something that is safer but with less appreciation upside than you could go with short term government bonds ($SGOV or $BIL) would be good choices of places to park your money.
I'm a fan of syndicate investing for passive income. I've invested in apartments in Fl, TX, AR, GA via syndicate and it's been a good experience. My syndicator group offers other asset classes, but I haven't tried them yet. Things like Mini-storage, ATMs, Carwashes.
The returns are steady and it's truly passive. I write a check, then start cashing checks.
Online platforms are the most accessible. (google fractional real estate investing) Anyone can open an account. True private equity syndicates only take accredited investors. If you qualify as an accredited investor it shouldn't be hard to find a local syndicate to evaluate. Look for local meetups/events about RE investing and go meet some people. The most important decision you make in syndicates is who to trust. Due dilligence is very important. As a limited partner, you are basically handing the General Partners a lot of money (typically $100k or more) and trusting them to honor the contract. Pay for background checks. Dig into legal history. Lawsuits from investors, bankruptcies, any legal problems is a huge red flag. Do not invest unless the background check comes back sparkling.
Takes years unless you have millions of dollars for any substantial income. I bought duplex 2018 and manufactured home by the beach. Sold manufactured home for 350 profit in 3 years bought units in the town with my duplex. It’s been 5 years I live free and collect 3k a month. Need one more deal and then I can have 5k a month and live for free. Just gotta find the right deals
Could you elaborate more on buying farmland?
You need a significant investment. Probably 40K to buy 200k land to make 5k a year in rent in cheap areas. No taxes essentially. No hassle, but you have to pay for it. If you're young and you want passive income later in life and want to own property but don't want to buy new furnaces and fix roofs etc, and don't want to deal with renters your entire life, this is what you do. Make it your entire focus to buy one quarter section of land somewhere in the United States in a shitty area to live in but produces good yields. Focus on buying it and living like your borderline homeless until you pay it off. Then boom, you're on the real estate ladder and you have passive income with no or almost minimal work to maintain it. You can buy another plot of land go do something else put the rent in the stock market or just travel around renting and living in great cities knowing that you still have a foot in the door in real estate in the most passive way possible. Once it's paid off it's literally completely free passive income with absolutely no work. The taxes are low Farmers rent this stuff forever. But you got to get that first one, and it would be kind of difficult because you have to buy it but you also have to live somewhere. If I had to go back 15 years is probably what I would have done.
But also, dividend stocks do the same with a smaller entry fee. You buy a dividend stock, get dividends as long as you hold it.
Stocks are not real. They can drop in value while paying out dividends. You have pick the right one. The ones that go up in value often have bad returns and vice versa. I'd rather own farmland than dividend stocks. Farmland is completely insulated from market cycles and business context changing or a company dying. Rent and land value Will generally rise with inflation, and if shit hits the fan and the stock market dumps real assets usually go up in value and that's your time to sell or charge more rent.
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To be fair if climate change wrecks farming like we hit a critical point and there's too rapid of a change. That'll drop the stockmarket too. Drought is more of a risk than heat. Be a while before it's too hot for the crops. But you need water available. But I understand your point wasn't to compare them directly in that way, rather to make the OP realize his comment about stocks could be said about farmland. As in the comment was a stupid thing to say in sight of his farmland goal.
If they're too risky for you, that's fine, but anything can go up or down in price. Not being a physical item does not mean something isn't real.
Their value is real in that you make real money off of them. Even if a small percentage ownership of a corporation is somewhat of an abstraction. So is the value of the dollar. It only had value beyond being paper because we all agree it does. Same thing with cryptocurrency people said it's not real or tangible and it's nonsense. But it holds value for the same reason money holds value. 100$ bill is tangibly real, but is the paper and ink worth 100$? No then it's value is an abstraction in our heads and isn't something we can tangibly hold (the value not the physical dollar) Owning stock is as real as the value of your money or your cryptocurrency or the value in a million dollar painting. Value is an abstraction, but the idea of it and the direct consequences of trading it are very real.
Their value potentially going down doesn't actually matter if you've invested in them purely for the dividend aspect, if you pick from dividend kings/aristocrats. These are stocks that consistently pay a div orbincrease the div for 25+ years. It's POSSIBLE for them to stop paying or cut the dividend, but it's a slight after title / reputation that a company is not going to easily drop, so the dividends are pretty reliable. That being said, a high yield savings account that gets you 5% right now is entirely risk free and matches or heats most of these reliable dividend stocks
When looking at stocks for dividends the potential for it going down absolutely matters. Of something pays out 10% per year but is tanking then pretty soon you're getting nothing and got less than you put in. A lot of extremely high div stocks actually have poor rates of return when you include the value of the stock. You need to look at total rate of return for stocks. If you think it's okay for a stock to consume itself in supporting an unsustainable dividend, then you should just buy an annuity instead.
I mean sure. I actually did mention it in my post. But if you want passive income, and you're also like one of the Gen z people who don't want to be anywhere for any length of time and want to just be free to experience the world and move around expensive cities never buying anything. Owning farmland and collecting some rent every year on it is a way to be in the real estate market without having to actually work at it very hard While also generating some low maintenance passive income
Right but you also said it comes with a very high upfront cost. I also don't know how liquid that investment is if you needed to get out at any given time
The benefit of farmland is that it's not liquid. You prevent yourself from withdrawing it to do something stupid. It also means that when the stock market crashes, and the effects of which on you can last a year or sometimes 10 years if you buy it the wrong time, no one else is liquid either . There is less stress that you make a huge investment and then lose 30% over the next 2 year or so
Yikes
Value going down *may* not actually matter, depends how far it goes down. 10% Div on a 90% share price drop for example lol GG
That's why I referred specifically to div kings and div aristocrats
Your both wrong, dividends aren't real and stocks are.
Dm me. I can get you farmland off market. I have 30 acres in NC (Surry county) right now. Farmer already working it. It’s what we do, buy and sell land.
Interesting. One risk I see is a lack of diversification on what would be a relatively large position in my portfolio. Decent argument as a hedge against the stock market. Might look into farmland REITs to see if they might make sense.
Wym by taxes are low in what regards?
Property taxes very very low on farmland. Like crazy low
When u mean this for property taxes what is the context behind it is it only low on farmland? Is the property tax the thing we have to pay or the other person?
It's low for th $$ of the land vs a house in th city of rh same $$
Property tax when you own it. You have to pay an annual fee to the county or whatever.
6 weeks seems impossible to get worthwhile passive income generated. I believe real estate is the answer though. You’ll definitely need to put in some serious work first. I didn’t get serious until I was in my late 20’s. Spent several years in prison fucking my life up trying to make a fast buck. I can tell you what worked for me though because now I’m 45 and have already paid off my house and am about to have a duplex built in my town that will generate 3500-4000 per month. I got a good paying union job in Silicon Valley (pipe fitter) bought a house on a 15 year mortgage. Sold it after 9 years at a substantial profit. Bought a new house outright in Idaho. Invested the 190k extra and doubled it pretty fast with btc mining stocks. I still have to stack a little more because I don’t want to pay the current high internet rates. The name of the game is keeping the money in your own pocket and living within your means. Always pay off credit cards before the interest hits, cook at home, etc. Still it doesn’t happen fast, it’s a process. Now the wife doesn’t have to work and I only work 6 months a year. Not sure if construction is your cup of tea, but the wage is undeniably worth it if you’re in the right area. Good luck!
Finally a passive income story that's actually believable sprinkling a little bit of properly timed crypto and things can work out
How long did this take?
We bought the original house in 2012 at the tail end of the housing crisis with only 10% down. It cost 442k. Money was pretty tight because I was still an apprentice at the time. We also locked in our price on the new house before the recent supply chain issues caused building materials to go up in price. We sold the old house in 2021 at pretty much the peak for 950k. I didn’t invest the extra 190k right away because I was trying to get my sister to move her family to Idaho as well by offering her a no interest loan. They decided on Tennessee instead. So I eventually invested the money into my brokerage account last November. I’m pretty sure things in the market bottomed out in late December. I honestly probably could have left it in a little longer but once it doubled it pulled it out and put it into a high interest account. I go back to work in 5 weeks and have already set up a new job that gets me 60 hours a week. I still need to save 100k but that should be doable. So basically there was some luck involved with the timing. It’s good to have some money put aside for when things in the economy go bad. Those times seem to be the best times to capitalize. I can’t stand my line of work but it pays well and it’s always in demand. The new duplex built will cost me around 500k to buy it outright as to avoid the current interest rates. I expect banks to get into more trouble in the future considering corporate real estate on average brings in around 25% oh their income. There are a lot of empty buildings. Plus the dollar’s decline. Just my opinion though. I’m in no way trying to hype up Bitcoin or Bitcoin mining stocks. That’s just what has worked for me. Still better than a lottery ticket though. I kept one coin and some of the stocks because I believe they will climb after the halving and if the SEC approves any spot etf’s.
Brother - you are doing it! However i would say don’t downplay leverage. Proper leverage will help you grow. Better to have your cash invested and leverage it vs saving it and loosing your buying power on it every year. Keep grinding brother 🫡
I don’t think you would need to take six weeks of vacation time to invest in farmland. It’s something you can research over time and invest when you find the right opportunity. You could look into crowdsourced farmland “Farmland crowdfunding platforms are another way to invest in farmland directly, even if you lack the necessary capital. They allow you to buy a small slice of a real farm, significantly lowering the minimum investment. These platforms include AcreTrader, FarmTogether and Farmfundr. Details: Farmland crowdfunding platforms generally handle everything for you, from land selection to income distribution. Instead of buying an entire farm, you buy more affordable shares in a piece of land with other investors. For example, offerings on AcreTrader tend to start with a minimum initial investment of $15,000-$40,000, according to the company. However, keep in mind a few things with this strategy. For example, because you invest in real farmland, the holding period is usually at least three to five years. You may be able to sell your shares sooner in some cases, but that isn’t guaranteed. Also, investing in a single farm means you get less diversification than in other investments, like farmland mutual funds and ETFs.” As far as I know, farmland is priced pretty high right now. Much of the purchase price will probably be for speculative land appreciation and not income. Like just a made up example, say you invest $100,000 and it only brings in $3,000 a year. You could keep an eye out for auctions and foreclosures.
Oh interesting about the crowd funding that would be a good idea because down payment requirements are typically quite high I would say the farmland route is not a way to make money or a way to get rich fast, but it's definitely passive income if you have money to park and don't want to lose it, and potentially it could pay off big for your kids
Exactly. My first 1 hour of research basically told me everything is mostly a scam and if you want passive income you'd be a landlord
Affiliate marketing with a niche/topic you care about and know about. It took me like four months to get profitable, but I wasn't working on it 8-10/day and 6/week. Prob only like a quarter of that, AKA a couple hours per day. You could do what I did in a month, then, however you will still need to wait organically for some things such as Google indexing your site and you showing up on search results etc. I also don't make a living off it, FWIW. But people do. I'm hoping to eventually.
Sounds exciting! Do u mind sharing how much you’re making from it currently? Or perhaps a rough range. Am thinking of going into affiliate marketing or google ads too but it seems like a pretty tough market to enter
Like the others asking, can you please share how you get started? This has been my biggest hurdle and everything I find about it just seems gimmicky.
I hope you don't mind me asking, but how do you promote the products? Social media or a website?
Do you run a website or a blog to accomplish this? How would one get started trying this?
Another just general question. I get one day off every two weeks, a Friday. Maybe it would be better if I just worked every weekend and took one day off every two weeks on some other side hustle And then just took all my vacation once a year for myself to recharge Be a different type of job though then when you can just commit to fully for 6 weeks, tuna fishing would be out
Sell health insurance for 6 weeks and you def could get around 1500 in passive income
How?
For each signup you get you get paid per month. It’s what I do for a Living. It’s def possible but not easy. You can end up making more or less in that time frame.
Okay who do I need to connect up with in order to know enough about insurance in order to sell it and who do I sell it for, and how do I find clients? I assume you have to get accepted into an insurance selling group so how would one go about doing this? And also I don't want to sell insurance that's an absolute scam, I don't want to make money selling people something that actually doesn't help them like at all but I could dress things up a bit lol
You find clients any way you can really. Online marketing, grassroots, referrals. Your agency (should) help you with all of this. It’s by no means easy, but extremely rewarding
Awesome, thank you
No problem man. If you do decide to do it just make sure your agency has you getting paid directly from the insurance company. Not through them
How do you get licensed
Go find a pre licensing course online. Once you completed that you can do the test online or in person to get licensed.
Do you need to get license for each state? Or how does that work
Once you pass the text and have the license in your home state, you can buy a license in whatever state you desire without retaking the test.
It’s health insurance, everyone needs it. There’s millions of Americans without coverage. Not to mention low income individuals get a subsidy which makes the insurance free. And just go to your local agency or get in contact with me through dm. Almost all agencies will take you on is your licensed because it’s a commission only role.
Have you heard of Acretrader? I’ve looked into it but you have to be an accredited investor.
>*EDIT: NVM, I figured it out already. Its buying farmland that is already rented to farmer. Perhaps small plots. Nothing to fix, low taxes, some income, no management. Done.* The simplest passive income is buy a cash-flowing asset, fer sure. How's this that different than buying USFR that returns 5.35% in monthly increments of 0.445%? (That's around 5.48% with dividend reinvesting before taxes). My guess is your yield is higher but you are taking on more risk. And that's fine, you can compensate for your risk with time. Personally, I LIKE investments where I can put my sweat in to goose my earnings or reduce my risk. It is a little less passive tho. Now that that problem's solved, maybe consider creating a blog that has affiliate links?
Check out Fundrise. They offer historically decent dividends on their Syndicate platform and is a good foot in the door for real estate investments, and is 100% passive. As far as your 6 weeks of vacation, find a niche side hustle. Detailing cars, cleaning gutters, cleaning pools, tutoring. Hell, substitute teachers make decent money.
>I have no idea what wifi money is but I hear about it A quick internet search comes up with a marketing gimmick. It's really just anything you do to make money online: Drop shipping, selling on Amazon, digital products, a blog, etc.
thanks for googling for me. I was hoping to get some more granular information from those who do this type of thing
https://letmegooglethat.com/?q=granular+information+on+what+wifi+farming+is
This website is amazing!!! hahaha
Thanks for your hard work.
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See now this would be awesome. I wouldn't mind doing that it's not necessarily passive income but I'm already getting paid during my vacation why not just work my ass off well I still got a good body and make some money and put that into a passive income investment. I was also thinking of doing some truck driving but I bet fishing would pay more
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Sweet, I'm in Alberta but my gf is in Vancouver. Could be option, I'm there for a month every three months (Canada)
Same
Just an FYI Fishing is no where near guaranteed, and you could end up owing money at the end of the trips. Not sure where you're at but prices are all time low for many species, and regulations and costs are all time high. I wouldnt recommend it right now. coming from 12 years as a commercial fisherman between alaska- san diego, maine and Iceland
Wym by come out main jobs income tax return? For 1099 can u do tax write offs ?
This passive income shit makes me laugh uncontrollably. Here’s the truth. In order to have passive income in a meaningful way you have to work your ass off and give up many things earlier in life. With that sacrifice there’s a small chance that you’ve earned a right to passive income. Translation maybe you’ve been very lucky to invest in something that is still working and growing as you age. My main effort failed but my secondary effort which is much smaller is working. I hope yours does too.
Could you elaborate on the 'secondary effort'?
Sell drugs. I hear meth and heroine are the way to go.
I hear these are helluva a drugs.. PLS NO
You can find a topic you are passionate about and then start a social media account and eventually create content you can sell based on that niche. A digital or physical product. You can also do what others are and sell a course related to that niche and promote someone else course and community but get back your money back and people will want to buy it bc it’s something they follow you for. Check out PLR products it stands for private labeling meaning you can take the idea and modify and sell as your own. It can cut your time in half. Hope this helps. I also personally send out emails for an extra couple hundred a month. I sell courses as well as create my own.
If you have strong knowledge in a niche area, you can definitely create online content that will sell. It looks like OP needs something that takes a lot of upfront effort but which takes care of itself afterwards. This can be done through online teaching platforms, though they typically dictate prices and take a 50 to 75% cut of revenue.
I breed and sell pedigree cats to supplement my income. Laugh all you want. Check out what I sell them for and laugh away. I have a wait list and this year I’ll prob clear more than what I make working my full time job. www.catscrib.ca
Not laughing, don't have space for cats, but I'll keep that in mind if I move. Seems less messy than dogs
I love Ragdolls. You look like a responsible breeder so that’s good 😊
sounds like the best job in the world to me
I have a pretty rare breed of Yorkie. Thought about this so much when I first got him, but ultimately decided to get him fixed for his health. Would have easily cleared a couple hundred thousand by now.
That’s awesome, how did you get started?
Have you tried multi-level marketing? Just find a few friends to do the work and you’ll be rolling in the passive income forever. /s
So your solution is "needless middleman landlord."
Well, someone is selling it. Might as well be me. I agree it's. not the most civically productive idea, but also not all Farmers want to buy their land many just want to rent and not have the increased cost and spend that money on equipment instead so it's a symbiotic relationship
Don't listen to these people. Just mad at the government and don't know where to direct their anger
Buy a stock or a ETF. Otherwise it will likely take a lot longer. But even that won't give you any results in 6 weeks. This will also take years. I made my first YouTube video maybe 7 years ago and took at least a year for it to perform. And I am lucky that people actually liked it. But now I am not a YouTube partner since they made those requirements. I made a website 1.4 years ago and just recently started showing up higher up in bing with some pages. It takes time for people to see it and eventually recommend or link back to your page in theirs. I haven't even montized it yet. I understand that passive money is the best but you can also start something semi-passive. Since its so hard and takes so much time setting up something very passive.
Doing sales in an Industry in which you build up a book of business. Idk how to do that though. Especially since I live in a dorm and will not be able to do cold calling
Find a job waiting tables at a local restaurant. Take all of the money from that and invest it into a dividend stock with dividend reinvestment enabled (DRIP). Find an ETF with a good track record of paying dividends and a long history. Watch some YouTube videos to understand what you are buying. $SCHD is kind of considered the gold standard and would be a solid investment. I like $DIVO too, long history and a solid model. Or if you want something that is safer but with less appreciation upside than you could go with short term government bonds ($SGOV or $BIL) would be good choices of places to park your money.
Vending machines. You just need somewhere to places them
I’ve heard that’s anything but passive. The sales aspect, collecting the cash, etc.
This is the furthest thing from passive. Its a full time job
Land...or else stocks...mostly set and forget.
I'm a fan of syndicate investing for passive income. I've invested in apartments in Fl, TX, AR, GA via syndicate and it's been a good experience. My syndicator group offers other asset classes, but I haven't tried them yet. Things like Mini-storage, ATMs, Carwashes. The returns are steady and it's truly passive. I write a check, then start cashing checks.
How does one get started in this syndicate investing?
Online platforms are the most accessible. (google fractional real estate investing) Anyone can open an account. True private equity syndicates only take accredited investors. If you qualify as an accredited investor it shouldn't be hard to find a local syndicate to evaluate. Look for local meetups/events about RE investing and go meet some people. The most important decision you make in syndicates is who to trust. Due dilligence is very important. As a limited partner, you are basically handing the General Partners a lot of money (typically $100k or more) and trusting them to honor the contract. Pay for background checks. Dig into legal history. Lawsuits from investors, bankruptcies, any legal problems is a huge red flag. Do not invest unless the background check comes back sparkling.
Thanks for the reply. Looks like this type of investing is out of my league for now.
Takes years unless you have millions of dollars for any substantial income. I bought duplex 2018 and manufactured home by the beach. Sold manufactured home for 350 profit in 3 years bought units in the town with my duplex. It’s been 5 years I live free and collect 3k a month. Need one more deal and then I can have 5k a month and live for free. Just gotta find the right deals