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Passive income

Epicwinguy

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Anyone here have a passive income stream? I'm talking about passive income that amounts to $2000 or more per month. How long did it take to build and how much work do you put into it per week keeping it
alive?
 

RickTheToad

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Multifamily rentals are a good way to do this.. You can land some nice preferred stocks paying fairly secure divys too. You need to do your research http://www.biggerpockets.com is a good place to start.

I have a duplex town house, so I rent one out and it basically pays for my home expenses. I also bought another investment property, a 6 unit in a decent area in my city for 500k, put 20% down. Pulls in around 3k a month after all expenses on average.

My investments built up over the years. I have four accounts. A retirement account from my job, a Roth IRA, emergency savings, and a regular investment account. Retirement accounts are 90% stocks, 10% bonds. Investment account is more 70% bonds (earning 3.5% tax free annually or 4%+ taxable), and the rest in an S & P 500 fund. All investments throw off between 1000 - 1500 a month on average. Took some time, to build up.

I check my investment accounts and look for new opportunities weekly. My non-retirement account is heavy on bonds due to the impending correction. Once we correct 20% +, I'd go long stocks again. I will not retire for another 30 years or so. That is why my retirement accounts are heavy the S & P 500 and Total Stock Market.

As for the investment properties, if you can find a good deal, then you go for it. I started with my duplex and slowly learned how to manage things. However, for the 6 unit I bought, I did hire a well known property manager. There's 34+ people living in that building. They call for stupid sh it. Less headaches and he takes care of a lot of things. If I had more time (and patients), I'd manage it myself.
 
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Trump

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Anyone here have a passive income stream? I'm talking about passive income that amounts to $2000 or more per month. How long did it take to build and how much work do you put into it per week keeping it
alive?
It is so easy to make passive income. Just apply the same principles the top players use with girls to making money, and you’ll have so much money you won’t know what to do with it.

$2,000/month? You got to be kidding me. In November I made $50,000 in 2 weeks.

You guys working for a living have it backwards. It’s like you have to prove yourself to your boss. So ridiculous.

Once you know the formula for making money, you won‘t believe you wasted all your 20s working.
 

switch7

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It is so easy to make passive income. Just apply the same principles the top players use with girls to making money, and you’ll have so much money you won’t know what to do with it.

$2,000/month? You got to be kidding me. In November I made $50,000 in 2 weeks.

You guys working for a living have it backwards. It’s like you have to prove yourself to your boss. So ridiculous.

Once you know the formula for making money, you won‘t believe you wasted all your 20s working.

LOL - when you got to making your '50k in 2 weeks', did you start that journey by trying to make 50k in 2 weeks or did you start by trying to make 500 dollars in weeks, and then 1000 and then 2000 and so on? You see where i'm going with this.

So come on, whats this 'magic formula' you have where you make 50k in 2 weeks...


And side not to the OP - there is no such thing as passive income really. You have to do a sh1t tonne of ground work before you can let something run passively, and then still it has to be maintained to some or a lot of extent.
 

Tdawg

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Anyone here have a passive income stream? I'm talking about passive income that amounts to $2000 or more per month. How long did it take to build and how much work do you put into it per week keeping it
alive?
Everyone I know that has money, made it from real estate. My parents killed it in the Bay Area. Of course, the real estate markets took a dump on me...story of my life.
 

Trump

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LOL - when you got to making your '50k in 2 weeks', did you start that journey by trying to make 50k in 2 weeks or did you start by trying to make 500 dollars in weeks, and then 1000 and then 2000 and so on? You see where i'm going with this.
No.

So come on, whats this 'magic formula' you have where you make 50k in 2 weeks...
The same formula men use to get girls to sleep with them in 2 dates. Apply the same principles to making money.
 

biggoal

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Everyone I know that has money, made it from real estate. My parents killed it in the Bay Area. Of course, the real estate markets took a dump on me...story of my life.
What do you think will happen with the South Florida market once there is a recession again like a big one? Will it crash and crash hard?
 

wifehunter

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No real answers...typical.:rolleyes:
 

Epicwinguy

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No.



The same formula men use to get girls to sleep with them in 2 dates. Apply the same principles to making money.
Is your point that all claims of making money online are bull****? I know thats not true.
 

Epicwinguy

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Multifamily rentals are a good way to do this.. You can land some nice preferred stocks paying fairly secure divys too. You need to do your research http://www.biggerpockets.com is a good place to start.

I have a duplex town house, so I rent one out and it basically pays for my home expenses. I also bought another investment property, a 6 unit in a decent area in my city for 500k, put 20% down. Pulls in around 3k a month after all expenses on average.

My investments built up over the years. I have four accounts. A retirement account from my job, a Roth IRA, emergency savings, and a regular investment account. Retirement accounts are 90% stocks, 10% bonds. Investment account is more 70% bonds (earning 3.5% tax free annually or 4%+ taxable), and the rest in an S & P 500 fund. All investments throw off between 1000 - 1500 a month on average. Took some time, to build up.

I check my investment accounts and look for new opportunities weekly. My non-retirement account is heavy on bonds due to the impending correction. Once we correct 20% +, I'd go long stocks again. I will not retire for another 30 years or so. That is why my retirement accounts are heavy the S & P 500 and Total Stock Market.

As for the investment properties, if you can find a good deal, then you go for it. I started with my duplex and slowly learned how to manage things. However, for the 6 unit I bought, I did hire a well known property manager. There's 34+ people living in that building. They call for stupid sh it. Less headaches and he takes care of a lot of things. If I had more time (and patients), I'd manage it myself.
What do you think of Fundrise?
 

RickTheToad

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It is so easy to make passive income. Just apply the same principles the top players use with girls to making money, and you’ll have so much money you won’t know what to do with it.

$2,000/month? You got to be kidding me. In November I made $50,000 in 2 weeks.

You guys working for a living have it backwards. It’s like you have to prove yourself to your boss. So ridiculous.

Once you know the formula for making money, you won‘t believe you wasted all your 20s working.
I think you are constipated because you're full of sh it. lolz.

What do you think of Fundrise?
Fundrise isn't that good because when you own real estate, you profit in four ways.

1) Rental income / cash flow
2) Leverage and inflation
3) Gain at time of sale
4) Very valuable tax deductions

You do not have any of that with Fundrise or similar sites.
 

wifehunter

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OP...There's obviously no one here making $2K per month, passively.:rolleyes:

Go fish.
 

Poonani Maker

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The best answer is to seek someone who is already doing it. You can try to figure it out yourself but it will take a life time. When you have money, spend that money on people who can make you more money.

Real estate to me is the best way to make passive income. But I got really lucky because I have two uncles that work in the real estate business. They pretty much hooked me up with cheap properties in good appreciating neighborhoods where all I had to do was fix them up.

Most of my life, money is all about knowing someone who’s already doing what You want to do. You can read a dozen real estate books or go to endless seminars and never get anywhere.

I’m kind of lucky that most of my family know how to make money. But the same principle applies. Network with people that are rich and straight up PAY them for their system, lol.

Knowing what I know now, I would literally pay anyone who is already successful and have them set it up for me. That’s the quickest way to get there.

When it comes to women, you can’t pay someone to teach you how to get laid. Women are fickle and have different tastes. But when it comes to money, anyone who discovers a “system” is worth a lot and you should really consider paying for that system.

This is how the rich get richer. They simply acquire established systems.
Yeah, you have to be wary of people who are litigious though. Get wrapped up with the wrong folk and you're goin down, and it's like you've wasted all your life energy to go back to square one 20-30 years later. It can happen, and it's sad. I'm pretty nervous around 100 millionaires - have only been in constant contact with one for the past 6 years and while we talk a lot and we got along amicably, I wouldn't wanna get on his bad side or in his crosshairs cause money talks and he'd told me of several instances where he sued even lawyers who thought they couldn't be sued but he had Bigger and Better lawyers to sue the local lawyer who was overcharging him. The more money you make, the more pressure or protective weight you have weighing down on your mind. If you can make money under the radar, great! The point is, you don't wanna get too big in today's world or in America unless you are a devout follower of the Religion of Political Correctness.
 

Epicwinguy

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Yeah, you have to be wary of people who are litigious though. Get wrapped up with the wrong folk and you're goin down, and it's like you've wasted all your life energy to go back to square one 20-30 years later. It can happen, and it's sad. I'm pretty nervous around 100 millionaires - have only been in constant contact with one for the past 6 years and while we talk a lot and we got along amicably, I wouldn't wanna get on his bad side or in his crosshairs cause money talks and he'd told me of several instances where he sued even lawyers who thought they couldn't be sued but he had Bigger and Better lawyers to sue the local lawyer who was overcharging him. The more money you make, the more pressure or protective weight you have weighing down on your mind. If you can make money under the radar, great! The point is, you don't wanna get too big in today's world or in America unless you are a devout follower of the Religion of Political Correctness.
My idea is less about being very rich and high profile and more about making enough passive income to pay bills for a reasonable living. And I know this whole thing will require a lot of time effort and money in the beginning.
 

flowtheory

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- Passive income is made in real estate generally. But where you getting the money?

- Build a small business and hope it takes off. Put in a huge amount of work and hours to get it off the ground, then hire a GM to take the reigns while sweeping most of the profits.

- Put % of money aside in to index funds and watch it slowly grow

- learn penny stocks and hit it big.

-learn stock and wait 1-5 years for that new company to burst at the seams.

- build greater skills to become more valuable and be a consultant for others. Slowly work up in your chosen vocation or field of work

- start an instagram account or YouTube account giving out valuable information or entertainment. You could be like Corey Wayne. He saw a market of men needing guidance.

Passive income is difficult and definitely takes time. Don’t believe a lot of the ‘side hustlers’ who say it’s simple. Because they’re saying that to build a following and make passive income just like you. Snake oil salesmen. Anyone who says its easy was probably given a starter fund or had a connect already. But for the self starter with a regular job? Difficult.

Anyone who says they make 50k in two weeks? Ask for a paystub or proof.

Most people who have gone to school are loaded with debt. Most people who haven’t, are living paycheque to paycheque or stacking up for their retirement or a big buy to carry debt. We live in the day of the wantrepreneur where everyone wants quick cash and it seems plausible and easily attained because of social media or rich dad poor dad books. But these people are just selling their own product off of your back.
That book is laughable. He makes buying a house seem like childsplay. “I went for a run in the mornings and then I talked to a neighbour and all of a sudden I have a 6 units in a small apartment complex which I’m making money from because I had investments before” ...what? But how did you get the money before that? “I sold lemonade for profit and had hustled since I was like 3” okay so he’s a massive outlier.

Plus, most people who are financially free or wealthy are usually always older. 45+, so that means they’ve been at it for quite some time. They weren’t investing 20 hours a week in at SS, but rather financial reading or taking action

There’s a million ways to make 2000 a week passively. Yes, definitely. Just come up with a new idea that will give you that. But it starts with value. And like with women... or society.. it’s multidimensional and not so simple to read from a post on SS, or a blog. The life you desire deeply is made trough bloody experiences, sadly.

Or think about a new fidget spinner. For every successful fidget spinner, there was 1,000,000 failures and lost money.

Or go play the lottery every week. Trade that $5 Starbucks coffee for a $5 lottery ticket and HOPE ago god you hit something more than a free ticket.

Whatever it may be., keep asking yourself how you can do it and read a lot of information. You can figure it out if you care enough.
 
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origin138

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Affiliate marketing is a decent option, but do it the right way. Pick something you enjoy doing, then contact companies who are making money doing that very thing. If you like Karate, then contact self-defense studios, etc. Ask them if they'll pay you X amount of money for every new customer you send them.

Then set up a website or vlog to promote everything Karate and link to the studio(s) you have agreements with. I've got a friend who loves vintage cars, so he makes videos of himself test-driving said cars while talking about them, and makes passive income when they sell.

The trick is to not get buried in the technical bull****. Spend the money to outsource a website or video editing.
 

Spaz

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Anyone here have a passive income stream? I'm talking about passive income that amounts to $2000 or more per month. How long did it take to build and how much work do you put into it per week keeping it
alive?
I both own significant minority shares in some companies while in others I'm the majority shareholder.

In those companies that I'm a majority shareholder, I'm actively involved at the initial start up and would gradually wind it down (both time and controlling stake) as it takes off.

In those companies that I'm a minority shareholder, I don't get involve unless revenue is dipping or when they need my influence through my connections within the business community.

All the companies that I hold minority shares are companies that has matured and are stable - this is where I derive most of my passive income.

I have various companies that's yields passive income in different countries,

Thailand/Philippines - 4 catamarans

Indonesia/Malaysia - 1 injection moulding factory, 1 palm oil mill, food courts/restaurants.

Singapore/Indonesia - a few outlets that basically uses cheap toy dispensing game machines to entertain and earn money from kids at malls (I can't remember the numbers offhand as my partner keeps changing location/outlets).

I however have a company that's in the red, a palm oil plantation, its small, just 700 odd acres, doesn't have a good yield, 0.4 tons per acre now, mostly due to negligence/inexperience on my part.

The thing is, when I started off all these companies, I was a majority owner and I gradually sold off my shares to my initial partner. I was content with being the minor shareholder since it was practical.

So set up a company, find a man who is extremely good at working in those industry, offer him some shares for free, get involved in the beginning, in a year or 2, once ROI is achieved, take on a smaller role and as years go by dilute those shares in tandem with stepping back.
 
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