October is over and the ebiz stores had a decent month. Just a tad under 150 orders, about 5 orders a day. I was wondering if this is still considered passive income. I read an old real estate post on a different blog today about passive income and thought it was funny. I think that landlording is much more work, but people call it passive.
Do you consider running an online store passive?
I would answer no and yes. I had to answer phone calls and do a few more hours of work during the month of October, but in general if you had a business that required really no more than 1 hour a day of work, wouldn’t it still be passive?
I may have worked about 40 hours in my stores last month, but that amount of work generated thousands of dollars.
Do you consider landlording a few single family homes passive income?
When I need to find a new tenant or evict a tenant, it definitely takes up more than a few hours in time. In this market landlording is generating barely any money. It could actually be losing money. But in general I am finding that running an ebiz is alot less work than landlording.
I think what I’m learning is that the only real passive income is interest from the bank.