Passive Income General:
I think it would be a good idea to start making this topic a recurring general, hopefully we can eventually even have a pastebin with the basics.
Does any one have good methods that haven't been mentioned a 1000 times e.g. write a book, buy and rent, etc. etc.?
btw just to be clear the SUCK DICK XD XD method is not passive but active kids
Shit, I thought I was onto something.
What I am personally doing is, I make so little money at the moment that whatever extra I have I invest in dividend paying stocks. It's nothing extravagant but it's better than nothing.
- Develop apps or games
- Blog, vlog, podcasts
- Write a book
- Create a brand, grow it, and sell licenses to people interested in your brand
- Buy and rent out items or housing
- invest in someone doing the things mentioned on the list and take your cut
I'm also looking for ways to generate passive income; so far I've been starting businesses on the side.
Business with Management in place is passive income on a time basis.
Management of assets is a full time job after you get enough.
Most of them require a massive upfront buy-in of time and resources with no guarantee of yield.
If we're gonna quote these things start with hours of work, and upfront expenses then expected payout levels. and the ratio between them. and the probabilities of the various payouts.
You're over thinking and over complicating it.
Passive income though according to wikipedia and investopedia is a loose term it usually means low or none time/money invested. Paying salaries is enough money investment to become a business and like you said it also involves a time involvement.
If what you said was correct any small business would be considered passive income until reaching an arbitrary point.
I should note, theres a fairly huge up front cost in time spent learning how to setup your system, but same goes with almost any passive income stream and its a lot easier than teaching yourself how to program an app or something.
Find a chinese product on alibaba, tell them to slap your logo on it, then have them ship it to amazon directly so you never have to worry about physical inventory. Obviously theres a lot more details involved but thats the general idea.
hey that's a pretty cool idea. So you order generic chinese stuff, and then slap your own brand on it? And amazon stores it and handles shipment etc?
How much do you pay amazon for this? And how to look into it further?
With prices falling on CLO and BDC shares, there are some good opportunities for income. Just make sure the shares you buy have low exposure to the oil and gas industry. There are going to be massive defaults in oil and gas debt.
Sometimes theyll give you samples that are really nice, but then in the bulk shipment fill it with slightly shittier versions of the same thing to save money. They'll scam you in any way they can get away with essentially, not all of them are like that though just make sure you pick a trustworthy manufacturer