Passive Income Ideas

Start a "Park and Sell Car Lot." Essentially charge people to sell their car's there. You promote the lot and they sell their own cars. Would probably require a location with significant visibility.

Pro's No inventory.

Con's Cost to buy land in high traffic area could be high.
 


Thread of the year. +1

What about small towns that are up and coming (10k population and growing). There are a million of these in the US. What businesses are doing well in this demo ?
 
Hale.Pane said:
Thread of the year. +1

What about small towns that are up and coming (10k population and growing). There are a million of these in the US. What businesses are doing well in this demo ?
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Sadly: Meth Labs, Abortion Clinics, and U.S. Military Recruiters.
 
Wurk is hard... Bawlers invest... It's a gamble either way but with investing you don't have to work.

Durr.

+1 for lendingclub.

Also, if you can get them; Muni bonds & tax liens still work great, unless of course you go for a bankrupt city/county.

Or just buy gold, That shit ain't going down until after a revolution or two.
 
rish3 said:
Sadly: Meth Labs, Abortion Clinics, and U.S. Military Recruiters.
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I came up with gas stations, franchises of big city restos , medical supplies & transport (like the handi van). So much dude diligence :( IDK hints anyone ?
 
My approach is to treat every website I make as a rental property. Once set up, easy, passive income. Once I get enough capital I will probably start investing, as that would have the be the easiest, least taxable income.
 
I'll just caution you to take it slow when moving into other arenas. I made the mistake of making a bunch of money online, thinking I was the shit and I could "figure out" just about anything, and then lost my ass on 2 offline businesses I got in to. This same exact scenario has happened to a bunch of IM ballers I know.

Stick to what you know is my best recommendation. If you truly hate "online stuff" for whatever reason, then make a plan to become an expert in whatever it is you want to do instead before you invest too much money into it.

I find "passive income" to be truly elusive, but also overrated. As many have already said, you need a shitload of money to invest to get truly passive income that's worth counting.

On top of that, unless you literally want to retire, I think passive income is overrated. Personally my plan is to keep doing the "Internet stuff" until I have enough socked away that I can semi-retire and then focus on investments just for preservation.

Actually making significant amounts of passive income truly does require a lot of capital.

One thing I do to make semi-passive income is I've worked out an ongoing arrangement with a company to manage any websites that I no longer want to run. When I get bored with a site I turn it over to them, they manage it, and just send me a check every month. I get checks from them for 8 different sites - some that I haven't visited or even thought of in years. That's pretty much passive income in my book.

They say the grass is always greener, but usually it's not. If you're any good at making money online, it's hard to find anything else that can match the income opportunities, low risk, low startup costs, speed of testing and development, etc.
 
Just signed up for lending club. Anyone here want to provide me with their investment strategy?
 
transistor said:
Just signed up for lending club. Anyone here want to provide me with their investment strategy?
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I don't go crazy with analyzing each loan. There are too many variables and too many assumptions.

For example, I initially preferred small business loans vs. paying off cc debt for obvious reasons, until I saw a chart on their site that said that CC debt had a lower default rate (tried to find that just now but couldn't).

Once I saw that I stopped looking because you never know how the loan is going to turn out (that's why they have algorithms that determine the rate vs. people subjectively analyzing this and that).

They actually tell you which loans give you the best returns (including defaults):
stats-performance-return-by-credit-grade.jpg


I just follow that. I have mostly Es and Fs with some Gs, Bs, Cs and an A or two in there.
 
johnmatrix said:
I'm looking at buying a 185m2 (2000 square feet) local warehouse that has been converted into a house, and turning it into one of those entrepreneur\freelancer offices where folks can rent a desk for $100 a week. Cost of warehouse is about $500k, bank repayments and outgoings I'm looking at about $600 a week. Aiming for an average of 10 tenants to make me $400 a week profit + paying off a long term investment + I get to use it as an office\hangout too. Mediocre case scenario I have only a few tenants, which is fine because they're still paying off a half million dollar property for the most part. Worst case scenario I have zero tenants and have to pay it myself, that's fine, I'll live there. Property prices here are fucking insane, it'll be worth a million in 10-15 years.
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Where in Melbourne is it? 500k is cheap as chips for 2000 square feet
 
I was not believing some of the ideas such as car wash or laundromat being called "passive income" ideas. My uncle owned a launderette back in the day, and there was the constant hassle of people overstuffing the machines and putting them out of order, breaking into the change compartments, vandalizing, etc., etc. Not to mention the need for tons of money to buy those rows of heavy duty washers and dryers.

A car wash is very labor intensive, and you need get your crew of minimum wage rag wipers showing up on time and ready to work. Rainy days and most of the winter your car wash is shuttered, and the mechanism has to be constantly maintained. I recently had my car's oil changed, and a car wash was included, so how profitable could this service really be if they give it away free?

blahblahblah. I think you get the point.

I'm looking at the news reports about Romney getting millions in passive income from his Bain investments. Even more annoying, his tax obligations are far lower than people sweating for a paycheck. He pays less than 15% for just sitting on his duff rubbing his coins together.

So what do I get out of this? Putting aside the class resentment, I want some of what he's got. When I have a few bucks to throw at investments, I will be looking at investing in foreign economies that are rising and give high value for my Yankee dollaz. Turkey is a possibility, and there are others.

These are not really fresh new ideas, but it works for Richie Rich. A few years ago, a blog farm making passive income was doable, but the Google updates killed that dream.
 
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