I’m looking to research other types of passive income, (other than REI), and am wondering what others have had success with.
With SFH and small multi-family…one of the best benefits that I see is that unlike anything else…it’s relatively easy to get a mortgage and fund 100% of the investment if approached in the right way.
Some other types of passive income sources:
a) eBooks where you’re selling a specific type of information
b) Billboards
c) Online Dating Websites, (not something I’d get involved with but I do like the model)
d) selling insurance and it’s passive nature when someone renews a policy year after year
Anyways…am wondering if there are other passive income models that compete well with the benefits of REI.
When I say compete well…I mean significant upside for cash…not little residiual payouts like being an affiliate to some internet site…unless someone has done really well at that.
I don’t see REI as being “passive” income at all…Sometimes I get home after a long day rehabbing looking 20 shades darker, depending on how many ceilings I’ve torn down that day or how much dust I’ve kicked up…Not to mention the blisters, cuts, scrapes, bruises, “hammered thumbs”, flying pieces of wood from an OSB board that fly into my head while cutting it on a table saw, etc. that I’ve had over time…Actually got a nail up my foot a couple of weeks ago when I stopped wearing my work boots since we cleared out all the trash and other hazards from the house, except for that one stud that had nails sticking up laying on the floor right where I stepped…
I agree, REI is definitely NOT passive, unless you are owning a rental unit, and in which you have a property manager so you dont do anything at all.
How are ebooks passive? You still have to put them up for sale, like on ebay. Selling insurance isnt passive…and online dating websites? I dont get it?
Websites designed for ads and pay per clicks/referrals are passive AFTER you make the page, but usually it requires time to update the page to keep those ads/clicks coming in.
You sound like you read one of the same articles that I did, that told you to go out and do you job, but try to find passive incomes? Or amiwrong?
I don’t think the stock market is passive if you’d like to make money with it. The guys who are successful with the stock market are working hard at it.
The only truly passive income that I can think of are CDs and money market funds. You put your money in and there is nothing else to do. Oh yeah municipal bonds, too.
I don't see REI as being "passive" income at all...Sometimes I get home after a long day rehabbing looking 20 shades darker, depending on how many ceilings I've torn down that day or how much dust I've kicked up...Not to mention the blisters, cuts, scrapes, bruises, "hammered thumbs", flying pieces of wood from an OSB board that fly into my head while cutting it on a table saw, etc. that I've had over time...Actually got a nail up my foot a couple of weeks ago when I stopped wearing my work boots since we cleared out all the trash and other hazards from the house, except for that one stud that had nails sticking up laying on the floor right where I stepped...
Stock market investing is passive…Not REI…
What about once the rehab is complete and a decent tenant is occupying the place?
If the unit is generating $150/month in positive cash flow…that’s $5.00 a day for doing absolutely nothing…plus paydown of principle.
If you expect a rented unit to be no work at all, you are in for a big surprise.
Just a suggestion: go and hang out at a landlord site for a few months amd listen before you invest in rentals expecting to receive a passive income.
Not saying that rentals are not a good investment. I’m just thinking they are going to be more work then you expect.
I am a big believer in working smarter, but no matter how smart you are, you are also going to have to do some of the “work harder” if you expect to make any real money.
Yes…that’s the basic model. A shell is bought that allows you to provide online meeting place for people. That’s a pretty good passive income model in my opinion.
Tatertot…
I’m currently working for a landlord and do a ton of hard work on a regular basis.
If you have a portfolio of 15 rentals…at least 5 to 7 a month are going to be pretty much a cake walk. I’d much rather deal with an occassional helter skelter situation than being continuously plugged in to the expectations of an employer.
This thread was started to compare different passive income alternatives…I’m well aware that REI is only semi-passive.
I would agree, ONLY if it a GOOD ebook that took months even years of work put into it, and is of a great topic, but you still need to put your time/effort/money into the ebook to even consider making any good profit from it.
I feel like you are one of the many dudes on ebay selling your ebook for .01?
Maybe we are thinking on different levels. I am thinking of income that is substantial, that is worth what you put into it. Of course, the $5 that you might get from selling an ebook is income, but not substantial.
I tried the ebook thing with limited success. It was more of a fun thing and I think I sold 200-250 copies. That was cool because I had everything set up so that when somebody purchased it it was automatically delivered electronically. I would just wake up, get my coffee and check my inbox, so that qualifies for residual income, getting paid over and over for something I did once. I sold it for $.99 up to $9.99. And yeah missjen, I agree, it need to be a great topic that you put time and effort in to. My ebook did not quite send me to Hawaii but it did buy a few cases of beer! :beer
As far as the meeting people website… who would run it? Would it be an automated deal?
I remember watching the rerun of a Merv Griffin interview that was replayed upon his death.
In it, Merv recounted how he came up with the jingle for the show “Jeopardy”. He then went on to say that he made millions just off of the royalty for that one song.
I really don’t care to debate the intricacies of price points for ebooks.
I’m more interested in seeing how other passive income sources stack up against REI.
As far as the meeting people website... who would run it? Would it be an automated deal?
I would venture to guess that just like there’s website like this that focus on REI and landlording…there are probably usergroups of people that run dating websites…where they trade/exchange what works best for them.
I’d think that a such as this would probably be best for entry if it were more niche oriented…as in specific to one metropolitan area.
This would probably give one an edge over the bigger players like match.com. I also see that these niche websites often advertise in the weekly community newspapers as developing an ongoing base of users is very important for the growth of the site.
Again, back to your question. At this point, (10 or so years into the online dating thing), I would think that some type of off-the-shelf product for the site owner would be possible to purchase. Maybe at conventions that are held for this area of the internet.