I launched that in October of 2008, and that very first month I sold that book for $19.99. I sold it in a way where people could come to the site, purchase it and, immediately after, the book, which was simply a pdf file I had written, was directly digitally delivered through an email to them. And as a result of that payment, it was just money into my Paypal account. That first month, I made $7,008.55. That was just life-changing for me.
Setting up a Google AdSense website is a simple and effective way to earn a passive income stream. The way it works is that you first have to find low competition keywords in a niche. Use Long Tail Pro to find keywords with low competition that get at least 1,000 – 2,000 searches per month. Then, write long, useful, and SEO-optimized articles around those keywords. Lastly, promote your website on social media and build backlinks to it.
Our favorite platform for this is RealtyMogul because you get the flexibility to invest as little as $1,000, but can also participate in REITs and private placements – typically not offered to the public. Investors can fund real estate loans to gain passive income or buy an equity share in a property for potential appreciation. Their platform is open to both accredited and non-accredited investors.
Great post and comments. All your points in the article are spot on. My vote is Definitely NOT passive income. Launched my blog about 1 year ago without a lot of clear direction. After working with a productivity coach, we narrowed the focus (somewhat) and got rolling with more regular posts in March/April 2017. Small budget outsourcing on Graphics and SEO moved the needle a bit further. Google Adwords campaign a bit further. I just spent about 5 hours re-working a guest blog post for a food site, after already putting in at least 5 hours on the original version. Especially in the early years, there is NOTHING passive about sweat equity. Reducing the learning curve really does add real skills though, so you can hit the ground running and efficiently manage your time. Was interesting to see the vote tallies, thanks for the post.
The paperback’s formatting could also be improved. I basically just messed around in LibreOffice on Mac to get formatting to work, but I wish I would’ve started with a tool like Jutoh, which is fantastic for formatting and publishing. My workflow was Google Drive exports to LibreOffice, and Google Drive just wasn’t good for editing once you cross 40–50 pages. In the future I’d like to format a better sized paperback.
Investing in rental properties: Another form of real estate investment, rental investments (i.e. becoming a landlord) could steer you down the passive income path of steady monthly rent checks that you can use to pay off a mortgage loan on the rental property. After the mortgage is paid off, those monthly checks go right into your bank account -- potentially for years to come.
If your research really does determine that there is some amazing market niche that until now has miraculously gone unnoticed and unserved---dog owners who wish to help their dogs lose weight naturally, for example---sooner or later, word is going to get out that there's money to be made there, and someone is going to create a better ebook or info course or product that serves that market's needs better than yours does, and who markets it better to them than you do. You can't manage this competition while sipping margaritas all day from your paradise restaurant on Fiji. You'll soon see your market share go down the drain---just like all those Açai cleanses. . .
Some other parts of the book echo advice found in other bestsellers, with the section on how to create a lean startup being reminiscent of Eric Ries’ advice in Lean Startup – this by the way is one of the biggest lessons I think people new to the world of passive income need to realize…you can get started this week, with just $50, and still be on a level playing field with people who have a ton of money behind them (well, almost).