Passive Income Ideas

BlueYonder said:
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.
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FFUUUUUCCCCKKKKKKKKK

Do you realize that the 15% he is paying on his investments is 15% on money that has already been taxed? You can't compare capital gains tax with income tax because they are two completely different things.

Romney is a piece of shit for a lot of reasons, but capital gains tax is not one of them.
 


makethatgreen said:
Monthly tampon delivery, rescues the hubby from any embarrassment at the store.
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Funny enough, I seen where RidX is doing this now. Its not tampons, but a monthly sub where they deliver you RidX every month for your septic system.

I thought it was pretty smart of them.
 
This thread is turning out great guys, keep it rolling with ideas even if they seem small. Just dont keep posting unrealistic shit like drugs and meth, I mean come on.


It seems like a lot of the ideas involve having some type of employee help you out ( real estate, car wash, laundromat, etc ) or some big up front capital ( investments, timber land, parking lots ).

I like hearing them all. Lets not fight about whats "passive" or whats "easy", we all have brains here. Lets just keep the ideas rolling.

Some of the best things I heard where things people are doing in other states or countries, that no one is doing in my state/area. Thats some powerful shit if you think about it, copy someone's working model and do it your way first in your area....
 
I'll add another one, advertising with bill boards.

I am not sure how the law works into this, but if you can lease or buy small strips of land next to the road from people/city and then maybe start with every low level wooden bill boards and work your way up to electronic, that could be passive with the exception of closing the deals with advertisers and putting the shit on the bill board itself. Putting the ad up would be easier with a digital board of course and you might be able to get a VA or part time sales guys looking for extra money to get you sales leads while they are out doing sales for others anyway.

Closing the deal would be the next part, but would seem very low level work.
 
BlueYonder said:
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.
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I know a car wash millionaire. He has sharp well spoken sales guys greet you when you drive up and they cross sell the hell out of it - these guys make a commission on everything they upsell. They're taking home decent con, given what they do.

As for the laundromat, car wash, Real Estate or whatever. Hire a manger, maybe let him earn an equity position with success and you the silent partner let that person deal with the problems. You earn a little less, but the income becomes passive. This can make any business, a passive opportunity.
 
I'd rather branch into trading stocks against the sheeple. You know, like shorting Facebook or buying Apple stock just after launch of their next product. The kind of stock which is traded with emotion as much as reason.
 
This is a firm that I do some work for occasionally.

I think this is a pretty good example of 'rent houses' that you can pick up for cheap.

You just have to be willing to be a slum lord.

150 +/- Income Producing Properties Absolute Auction Valdosta GA

Rowell Auctions, Inc.

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Unarmed Gunman said:
FFUUUUUCCCCKKKKKKKKK

Do you realize that the 15% he is paying on his investments is 15% on money that has already been taxed? You can't compare capital gains tax with income tax because they are two completely different things.

Romney is a piece of shit for a lot of reasons, but capital gains tax is not one of them.
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Knocking this convo a bit OT, I don't really see the problem with this. When you pay property taxes, the payment comes from money that has already been taxed. Ditto every tax for things you purchase in a store.

As for the capital gains, selling a stock for $40 that was purchased for $10 is $30 in pure profit that wasn't previously taxed. Isn't Romney getting mostly dividends? Dividends are gifts that keep on giving.

Anyway, back on track. Buy a case of candy bars and Mountain Dew and hire a 10 year old. Have him or her resell it to classmates at a school where junk food has been banned. Scarcity + junk foods + obese 5th graders = profit.

This may not count as passive income, but I found $500 worth of solid gold jewelry at a thrift shop for $8 last week. :eek: I've posted instructions here on how I do this in the past.
 
1) Find pay day cash/loan offers
2) Hit up local pawn shops in the area
3) Cut a deal with the owner to have you put up some signs or whatever (or have fliers on his counter, etc.)
4) Profit

People are going to pawn shops because they're in need of some extra cash, right? It's not that hard to hit up the guys in the area and the best part is you can tell them you can get their cash within a week to them (if you're using a network that pays weekly) so they should be sold at that point.
 
How about opening a grocery store with lotteries near Nevada(lotteries are banned) border? I'm pretty you can bank on the lottery commissions.
 
dmnEPC said:
Setup a used tire shop. Get your self a shop with a couple of over head doors and a dozen hydraulic floor jacks, and a handful of basic tools. You can then hire 4 or 5 monkeys to do nothing but change tires. The used tire business can be very lucrative. Auto dealers are forced to put new tires on cars all the time as part of the deal, leaving tons of decent tires available on the market. Basically you buy tires in sets and pairs for penny's on the dollar and then sell them for anywhere from a 1/3 to 1/2 of the retail of a new set. With a little leg work its not hard to find good tires that are 70 to 90% of their original treads.

It wouldn't be completely passive because your going to have to manage people. But in today's economy people are always looking to save money on tires. Biggest problem I see is educating the consumer that what they are buying is still safe. The best part of this business is you are selling a need item. Usually when you need tires it comes at the worst time financially. People will think your a hero and your going to get a ton of word of mouth business after a while.
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Interesting idea.. probably costs you like $4000 to get started once you get the tools. Then line up some salvage yards to sell you there best tires... i wonder if others have tried this?

I've always though sandblasting business is killer. the machinery costs around $5-$6k and plenty of rednecks available to operate it for $12/hour. Those guys charge like $75/hour... easy money
 
Those little automated printing photo boots you see in the mall. Slap those where there's a high volume of teens/dates. I would of thought they wouldn't be used much but I passed by one the other day where a few kids were asking their mom for some change.

My friend's dad has a brick & mortar business where he essentially finds work for a pool of people and takes his cut off the top. He himself doesn't do any labor, there's tons of constructions people that don't know the first thing about finding a job/dealing with clients and see you as a godsend where you do all the 'thinking' for them.

All in all though, what provides the least amount of overhead for the maximum amount of value... I'd have to say a website that you either built or trained someone to build. It's all about value(which sometimes is mostly perceived by the customer due to ignorance).
 
I've owned and sold multiple B&M's, a lot of the ideas here sound good on the surface but you're looking at a shit ton of local government (read: zoning bullshit) intervention to make any of it happen, not exactly passive if you've ever experienced it.

One of my espresso huts was on a lot owned by a guy who's daughter and friends wanted to make money for college, they sub-letted part of the parking lot from him for the summer, wasn't hard on the eyes and boosted drive thru sales too.

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LTJeremy said:
Interesting idea.. probably costs you like $4000 to get started once you get the tools. Then line up some salvage yards to sell you there best tires... i wonder if others have tried this?

I've always though sandblasting business is killer. the machinery costs around $5-$6k and plenty of rednecks available to operate it for $12/hour. Those guys charge like $75/hour... easy money
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High Overhead and Variable costs != passive income (generally speaking)
There are exceptions to this, but anytime you are dealing with many employee's, you are not working on a passive gig.
Unless of course you have enough money to hire the manager right away or you buy something existing already fine-tuned.

Lol at the tire business idea. I worked on a 2 tire shops for a couple years in High School. Nothing about that was passive. One of the stores was super successful, the other was garbage and bleeding money. The successful one was run full-time by a hard-working owner. The other was being 4hr-work-weeked into decimation.
 
BlueYonder said:
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.
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Back in the day. That says it all. Modern commercial washing machines and dryers have overrides now. When the machine is over stuffed it just stops and buzzes. That along with new "Self-balancing" technology they don't break down as often. When I was looking at them the mid to top of the range machines both had these features. Both had 5 year warranties, parts and labor. 10 year warranty on parts.

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.
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Thats why you do self-service car washes. The "spray-bays" as I call them. A Full service car wash is a full time job for someone.

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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This works well for Romney because he has hundreds of millions of dollars in his piggy bank. Its easy to pull millions in "passive" investments when you have chips stacked that high. For the rest of us the only way to get anywhere near that level is to own business and then take that revenue and invest it.
 
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