Passive Income?

While on vacation never turned the TV on, minus watching the Bills slaughter the Packers but even while home all I do is watch the weather. Too much idiocy in the media. Sick of where America is headed.

I am driving today for work running appointments with all of the traffic and road rage and just look up at the sky thinking the sky looks the same everywhere else. It's the reality I am living on the ground that could be better. 5 year plan...and I am out.

Corporate America is not the dream, making money for someone else. Have a good nest egg and a strong 401k was a huge plus.
So my question is, passive income. What do you do or have you done to get passive income?

More specifically little hands on but good upfront money. Keeping in mind, another COVID shut down, economy proof,..etc.

I know a reach, but just curious....better topic than "is porn addictive"

I have several passive incomes.

CBD
Graphic/Web Design
IT services for multiple community customers
Tee shirts
NTxR store

Just to name a few. I’m always hustling.

None of which besides being a CBD salesman you’d be great at.

You neee multiple skills to be able to make money off them.

We bought a tanning salon earlier in the year. Pretty much runs itself with a few hours a week the wife dedicates to make sure the wheels are rolling.

I’ll let you know in a year if it is a good source of passive income

We are thinking about going the real estate route next year.

Yes the "neee" is a huge skill set, thanks.

Isn’t passive income making money with little to no effort? Sounds like a lot of these suggestions require some work.

I'm a pimp on the side.

PM sent.

Not sure what “neee” means but I’d love for you to do what I do. If you can you could make really good money. I charge anywhere from 350-1000 per logo and you to 10k for a website. But carry on with your no skill [censored].

You have one skill which is not in demand anymore because no one cares. I could literally go anywhere and get a job with my skill especially with my cyber security skills. You not so much. Just speaking the truth don’t get mad at me.

laundromat, car wash, or vrbo might make you some money if you live long enough, the startup will cost you. I'm just going to buy lottery tickets.......

Careful Sneaky...
As of today, that's a felony..


Why ?

I am not sure what "neee" means either...maybe it has to do with reading comprehension.

Really? Man, the government can ruin anything.

There’s a group of knights that say neee. Best steer clear of them. Otherwise, you’ll owe them some shrubberies.

*Ni

I read they charge between 350-1000, though.

sugar granny?

I have, an internet Television Station..

X2

Shane you mock kyles side hustles but his skill set will be in demand much longer than yours will

nice

To be realistic, I can get a career anywhere. I was a RSM for an 7 billion dollar corporation with 10 direct reports 8nder me in 3 states for over 2 years with a projected sales number for over 2,6 million. Which we crushed until Covid hii, ...staffing, doing forecasts and multi tasking between travel GM meetings, Director meetings plus operation Managers on a weekly basis. we beat our numbers by 27% Y.OY. Until Corp decided to close that division.

^^^ditto this. Anything that requires employees would not pass the passive test for me. Owning an oil well is about all I can think of.

RV park and boat storage --------

I figured this out at 22ish and built it. The people you keep around you help mold you and when you have good people great things can happen belive it or not. At your age pops was lucky to have me to find the direction as he would have [censored] this all up at the time becuase he came off a .gov job.

boom, two more

The shut the [censored] up and find a job or passivie income. Oh you can’t because no one needs salesman anymore since Covid. Otherwise you wouldn’t be asking and posting about your “new career” on a Hunting Furum.

Yep, bout 4 so far.

If I had the money I’d have a trailer park or RV park.

Dang it. Nice catch.

All that income is progressive passive income, except for maybe the CBD stuff. Passive income requires little to zero effort on the part of the owner, think oil wells, stock investments paying out, house rentals.

I'd love to find some mailbox money that isn't real estate. Unfortunately, most things require effort and good people are hard to come by these days. That means it's more of your time or eating into most of your profits for that diamond in the rough

Shallow oil wells in SE kansas is a bad play I can confirm lol. Know all about that game

Dividend paying investments are as passive as can be.

Good point I guess mine is not passive because I’m always hustling. I don’t have the money for passive income. Gotta go get it.

Sneaky, freerange, and BigPig are right.

Doge Coin. Although not so much now, but if you bought it at .05cents then you’re good.

I knew it. They’re all retarded.

We are considering purchasing a vacation house in Key West. Then retire there in 5 years. I have worked the numbers,,need to find a desirable property for 750-800K. Hurricane insurance, property management. House cleaning..seems feasible.

Is this going to be like when y'all moved to Washington, declaring it was the best thing y'all have ever done then move back to Texas within six months?

And you want to walk away from that?

Won't actually move there until we get income and prove its value. This move will be for retirement not a career but thanks for asking and being concerned.

Boomshaklaka (sp?)

Never mocked his skills, he proposed mine are limited, difference is my age,..I am almost ready to be done, apparently he us not.

Yours are limited you’re a salesman. What do you have to give? In the apocalypse you’ll be looked over. Maybe your wife will be accepted into a community, but you won’t with salesman skills.

No ones mentioned interest of course. Your example is about as passive as I've seen in this thread. Most of these passive suggestions turn into progressive or active pretty quickly.

Being an RV full timer for fun these days, I would bet it's a lot more involved running an RV park than you might think.

Bro it's not about the potential of needing to work at this point. Again I have managed 10 people remotely (3 states) you do know know me.

In life you don't get what you deserve. You get what you negotiate. A good salesman relies on those hearing things on the side of his head rather than the air flapper valve below the nasal area.

“Bro” salesman won’t make it. You itteraly be the first to be culled from the heard. You have absolutely no skills to provide. Your wife might make it, but not you.

Haha.....nice try

Seems you're nothing but a salesman as well (from what you listed there, I don't know what your "day job" is). Yes, of course, some of those are more "passive" than others, but they are all rooted in sales. Maybe the other(s) you didn't list are not so sales-y. Do you mind sharing what they are?

Bringing your wife up in that way is not cool unless you're friends just joshing. If not, KRoyal you're coming across like a Chihuahua barking.

You guys need to leave Shane alone

Status quo...Kyle is young. Everyone else we jus playin.

Note: dang dog just got hit by a skunk again tonight so my attention has been elsewhere actually.

He made his bed. They obviously do not care for eachother.

Get a fat stack, find something that pays interests to you at a good apr, have it automatically return Apr gains back in. Compounding apr. Ignore it for a few years or keep putting extra funds in. Pretty passive way to make gains and eventually the Apr returns have some fair side cash

Oil wells, wind energy, REIT’s, bond ladders, and dividend stocks, those are all pretty damn passive.

My passive income is rocking like a riot.

These are proper examples of true passive income. A lot of people think (or thought before this eviction moratorium madness) that rental properties, particularly residential, are passive, but when stuff starts breaking (A/C, roof) it becomes very much "active". You can hire a management company, but as my youngest daughter and her husband are finding out on some far away properties they own, your share of the rent turns out to be a pittance. Commercial properties (again, before the China virus pandemic) are a little better because a lot of them are still, traditionally, a triple-net lease, meaning the tenant takes care of all repairs. But I wouldn't touch commercial property with a ten-foot pole right now.

These same kids of mine told me they've put a small investment in a company that calls around and tries to get people to sell their mineral interests, just like the calls and letters I hang up on and shred almost weekly. I didn't comment; 'seems a bit unseemly and unethical, but there might be a situation where it's not taking advantage of someone that just doesn't know any better.

I know a guy that owns a nice rv park that is not passive income. That guy works

Meh I’m a [censored] salesman and I guess those aren’t “passive” incomes because I’m always hustling doing something. Can’t stand to sit still.

As for my day job same as you just with less SIEM I’m guessing.

Maybe you should look back at the rest of the thread. I didn’t bring up his wife, he did and posted a picture of her. I couldn’t give a [censored] less what or who he is married to. He brought it up not me.

Wow! I put a lot of value on a good salesman, they're damn hard to find. If you produce a product you eventually will need a sales department and you'll go through quite a few before you find the good ones. There's only so much one person can do. Get a couple of good ones in there and they can take a lot of your headaches away. Sales is a hard job and not many can do it but the ones that can will make a lot of money. The two I had both have started their own companies and doing quite well since we sold out. Truth is most people don't have the skills, drive and determination to make it in sales.

So far you've come across as a real jerk in this thread and not somebody I would care to do business with no matter the product. You see how this works, you are your own worst salesman and you limit yourself. A good salesman would know better. Some people are just not meant for sale, I'm certainly not. We let our emotion take over and the end result is always bad, a good salesman knows this and protects your customers from you.

Yep, Shane started this and I intend to engage him every chance I get.

That was a pot shot at Shane. I don’t really have anything against salesman. Although being a salesman is a useless skill if the world ever went to [censored]. His Viking haircut ain’t gonna save him without real skills.

Like Moose pointed out half of my “passive” income comes from sales type jobs and I do it all myself no need to hire it out.

4th graders arguing on the playground.

That's not being passive. I know you can do better.

I thought passive income was mailbox money, open mailbox cash check. No effort.
Storage units or boat & RV storage sounds good.

We have some friends who did this just this past month. Bought a place to VRBO down there in the Keys. It was investment and a lifestyle option only as they will retire at their Lake McQueeney residence. We are supposed to get down there when he buys a boat. As time progresses, I may be able to tell you how it is working for them.

From what I understand you will like it there. Better chances for you to be noticed and not so overshadowed by your frau. Do not wear toe nail polish which is too aggressive.

I edited my post before I saw this one but it still stands even more so than before. Your comment is a excellent example of why I said "A good salesman protects the customers from you"

of my choices to choose from.

.

My parents got into iron and steel. My momma took in ironing and my daddy stole.

This has always been my plan. I’m just having a hard time getting that fat stack.

As someone who quit this corporate life almost a year ago, it is a shock to your system, be very prepared. I have a partner in a software that we have been developing for the past 4 years. Took the plunge last October and we are still pumping cash into it, but I am beginning to see the light at the end of the tunnel. We are turning revenue, and hope to soon be profitable. I say if you can stomach eating your savings and going a year without a paycheck then do it.

You don't have to have a fat stack (It helps), you just need to get started and stay consistent. Set a side something every month for investment and get it in there and working.

Raising Ibex works for me. But it is not quite passive.

Natural Gas Wells for me. But they won't last forever.

Offensive and defensive security. Just depends on what's going on. I bet we're really different.

Regardless of the specifics though I'm mostly "retired". Mostly because I need to keep one foot in the door. If I were to leave it would be so difficult - if at all possible - to get my unique situation back. I'm very fortunate to have the situation I do.

I do not have the capital to invest in a passive income stream, so I took another approach. As part of our downsizing and moving to a lake, we carved out a little piece of the internet to make enough money to support our simpler lifestyle while still building savings. It is certainly not passive, but 1-2 hours per evening on my laptop instead of watching TV, comes close.

Online and email orders come in and get routed to the manufacturers who then drop ship to the customer. I set it up with a high minimum sale specifically to avoid handling tons of small orders. (A $20K order requires the same effort as a $500.00 order.) With an average of a dozen or so orders per month, the time required is almost trivial. A week can go by with no work to do.

Currently, we are averaging a little under $80K per month in gross volume. It would be easy to double that but I would be working full time then! I won’t get wealthy with this mindset, but that is how I have lived my life and raised five daughters.

This allows me to act like I’m retired. I get to spend a lot of time with my family, take the boat out daily or just fish off of my dock while not stressing over money. My business is as portable as my phone, so travel is not an issue.

Everyone's a Highroller



till their not

Rental properties (operated by our property manager), dividend paying stocks and syndication investments (vineyard, apartments). Other than some networking, tax prep and general strategy
planning, it's about as passive as I can make it.

Or it's all relative and you're poor unless you're a billionaire.

And some pretend to be but always end up selling their toys to pay for other things.

X2

if Kyle paid you, would it be considered passive income?

I know one guy who got rich on accident playing penny stocks. I know a lot more lost their rear doing it.

What is "it"

Feeling really good that I may be that (One Guy) real soon!

Went back through and re-read this again today. I got a little out of hand on this thread.

Apologies Shane, was a little wound up last night after the Ford thread.

My reading comprehension must have been a bit off last night, didn’t know you were asking for retirement income. Thought you were looking for a job.

There should be breathalyzers on phones to post on the THF.

Now that's how it's done!

i just thought your pants may have been on too tight

Self serve ice machines
Laundromats
Car washes are getting tougher with all of the drive through ones

Passive income is a really fun thing to discuss...lots of options

Main thing would be to figure if you're wanting to invest to make money on your money and how much involvement you intend on having. In many cases, the less involvement, the lower the return rate. So if you're just wanting straight mailbox money, you will often need a good up front chunk to invest. But if you've got the time for some sweat equity...it may not take as much up front. I've got some investments giving me regular returns/dividends, but at only a single point return

When I was looking for a way to fill some more of my time and make more, I just started reaching out to my network. Who around me makes good money? Then I'd ask - How can I make money, helping you make money? If you've got some financially strong folks around you...I promise they'll love to open a dialogue with this question. I had a friend offer me a commission rate on some of his web services just for an introduction to a friend who runs a large business. Just for that, I get a good check every month for doing nothing for that particular relationship!

I know when I’m wrong and don’t mind admitting it.




It happens sometimes especially with giant….. guns that I carry.

You sound exactly like how I was. 10 years 9 direct reports in 9 states. Won more awards than any RSM in the companies history. All of that was great until they decided I was no longer necessary January 3rd last year. Salesman and therefore sales managers are a dying breed.

I've never understood companies that got rid of sales teams....especially commissioned ones. Been in sales my whole life and seen it happen so many times...especially last year. One of the manufacturers I rep put in a 25% pay reduction during CY Q2 last year with a sliding scale working back up to "regular" pay a year later.... I'll just say many folks who were there last year...are not there today. Several other manufacturers just dropped a bunch of their sales staff and created HUGE territories for others. Only a couple of the manufacturers I work with retained ALL of their sales staff and dropped payroll in other departments. They understand the front lines.

We sell hay. Half of our place is solid woods and the other half is in coastal. I usually pay someone to use my tractor/baler and just answer the phone when guys call wanting to buy it. Works out pretty good and pays the taxes and then some. I get a place to live, a place to play(hunt) and a place to make extra money all in one package. It's one reason why I think the subdivision life and paying exorbitant taxes (literally throwing money away) to live in a "nice area" as they call it so mind blowingly stupid.

So I guess the answer is for everyone to buy a hay farm....

That last sentence is pretty narrow minded...lots of folks in the suburbs do pretty well for themselves

Believe me, we can tell too.

Don’t get me started on you tonight. I’ve been drinking and building a fence and garden all day. I’m running pretty hot already and it’s only 3

It's not the answer for everyone. Just stating that I think it's dumb to pay tons in taxes and get nothing in return when it's possible not to.

I play on both sides here. I'm in the suburbs...though believe me, wish I was in the country. Not just for tax reasons as it's easy enough to search online to find out what taxes are for areas, but general congestion...and the country boy in me just simply hates it. But with one of my businesses, I have a LOT of customers within the neighborhood that either come and buy cigars from me or I can deliver to them. There are a few guys in the neighborhood that come by to load up for Houston rodeo cookoff and those sales alone pretty much cover my property taxes

Agree. I was having flashbacks to some of those slugfests between SniperRAB and NP.

One of the reasons people may live in an area with exorbitant taxes is to make exorbitant money because that doesn't generally come from a hay field.

There are pros and cons to each living scenario and many reasons to live in either which can be separate from the pros and cons and can also be separate from money.

"Green acres is the place to be . . ."

Well, if you have a house or other improvements on your property you are taxed Ad Valorem so it’s not like your living for free. Nice house, barns etc. can run up a tax burden pretty easily. Consequently a small house in the suburbs can be cheaper to own than the house on a few acres in the country

Also factor in what you have to own to be able to bale that hay. Equipment is expensive.


If you didn’t have a hay field on your place you would be stuck trying to make money off cattle, sheep or goats.

its called a hobby ST, If you don't have money to lose don't gamble. Guns is just a fun hobby for me, not real life stuff

Nah, comin' Straight Outta Compton.

If one chooses to corner themselves into a career that can only be done in a certain area (city) that's their bad decision.

Yes if you buy a house with 10 acres you can't do anything on sure it will be higher. I'm talking hundreds here. Not hobby farms.

I buy and sell equipment for a living so that is not a big cost. Last tractor I had I used 5 years and only lost $3k on.

I bought a place with lots of wildlife AND hay fields for a reason. I wanted a turn key place. Mine is not the only one out there.

I don't understand it either. When I started with the company I had 9 reps and covered 1/2 of Texas. Then we were sold to private equity and the "cutting to profitability" began. When I was let go, they had dropped from 180 reps to 36.

I bet you think your tractor is sexy, lol.

Thoughts and feelings go both ways. Maybe others feel you made a bad decision because you're stuck having to live in a hay field. Maybe it's you who cornered yourself into living in a hay field.

It seems txtrophy85 was right, you're very narrow minded.

I've been called alot worse lol. I don't live in a hay field, I just said I had one. Do I want to walk out my back door to a ghey pool/patio or walk out and get on my sxs and go to one of my blinds? Pretty easy decision. This is a hunting forum right? I guess some love traffic more than they do the outdoors.

Not sure why I'm even arguing with someone who is too embarrassed to even put where they live on here.

Bet that pool is pretty ghey in the middle of July when it’s 100 degrees out....have fun sitting in that blind.

I’ve sold more than one ranch for people who moved to a house in town after the sale. Living out in the country has its pros and cons as well.

Calling someone’s way of life dumb because you are able/choose to do something different is ridiculous.

We have a pool too, and are on the Brazos River so I stay plenty cool. I shoot more hogs off the porch in my underwear than in any of the blinds.

Not many cons to not having 47 people be able you see you walk out the front door.

Pretty sure we are about the same age (35). Everyone has to choose their own path. Hope the tanning salon works out.

This says it all in my view. The beauty is that we all get to choose.

Marc

It was all on good fun, I NEVER take anything seriously in OT.

I love this place and honestly do not dislike anyone here.

Group hug.

Ghey It is so much more fun when y'all are bickering

Exactly. Some people have different values and priorities, and both of those can change in different stages of life.

well the night is young

Big foot into big mouth = ignore

From what I've seen on here I can have a beer with KRoyal and Superduty. Highroaders for sure. Thats the thing about Humility your always chasing it. The minute you think you got it you just lost it.

IMO, passive income is making money with little to no effort....if you are doing the majority of the work, or if the business requires you to operate, that's not passive income, that's a job. For it to be passive someone else needs to be doing the work for you.

I've tried a lot of different "passive income" options....bounce house business, restaurant, laundromat, car wash, commercial real estate, residential real estate, multi-family, boat and RV storage.....so far the best ones I've found are the real estate options and boat and RV storage. Anything that requires employees is generally gonna be work, although out of the ones that require employees the laundromat was my favorite.

You are always spot on when it comes to financial advice on this forum

Only 3 people I know that have passive income: One buddy his grandfather had something to do with Mobil Oil being founded, Grew up in Highland Park he get 4K per month until death, know him since college

One relative has 3 rental properties paid in full and has a limited parternership of a small company

Other buddy just a few weeks ago hit 1 million scratch off in Irving and they gave him $760K check

All those guys do nothing and get their money each week, the relative who has the rental lives outside of the USA.

I’ve done pretty well making swing trades in mid caps

I guess it does turn into work, I research a lot of buys before making them

But it isn’t terribly hard and if the market crashes you’re kinda screwed

And I was saying on this forum to buy crypto a few months ago.

ETH was at $1700 and it’s about to break $4000🚀🚀🚀

For just $19 a month you can keep me from being a homeless derelict. I will passively cash all checks. PM me for details on where to send the money.

Did these businesses peter out, did you sell out or still own them?

The Car Wash seems like it would be a pretty lucrative deal.....I would love to find one for sale around here but they are sky high. Would not mind finding one in a small town somewhere close by.

RV storage is another one I would love to find.

^ this...people will pay big $$$ to store their chit!

Some I sold, some I still have. I'll send you a PM with some details.....

I think many are unaware of the definition of passive income.......CASH FLOW......that's dependable and does not require employees.......

Boat/RV storage can be a home run if built in the right location........I would be scoping out around Bonham with the new lake coming in.......