Comments on: Passive Income

By: Monevator

Monevator — Tue, 05 Jan 2010 10:21:58 +0000

For me, passive income means income where I won’t get a phone call — either from a customer, a client or a tenant.

I can deal with emails okay under my ‘passive’ label, but being interrupted by a phone call when I’m doing something else is, for me, not passive.

That’s what keeps me from a lot of online ventures, and if I’m honest from making a lot more money.

By: Menandro

Menandro — Tue, 03 Nov 2009 10:39:33 +0000

Great you asked!

I’ve experienced landlording and I can attest that’s it’s hard work at first and in some occasions. I call it passive because it’s “rent”.

Now imagine your estate is located at a sweet spot and applied online marketing on it. You can have lesser work because customers find you, not the other way around.

I define passive income as this phrase: “work less”. When you have passion on it, you won’t feel that phrase.

By: Edwin

Edwin — Mon, 02 Nov 2009 21:41:25 +0000

Don’t forget dividends from investments. There’s something I’ve started to look at that might be promising. Check out http://www.lendingclub.com.

By: Shaun

Shaun — Mon, 02 Nov 2009 17:26:39 +0000

Hard money lending is about as passive as you can get – especially if you have a partner you trust that does all the work! I’m getting about $600 / month and all the work I did was write a check.

By: Clifford

Clifford — Mon, 02 Nov 2009 13:06:43 +0000

I think this idea of Passive Income has painted a pie-in-the-sky scenario for people to believe is the fastest way to riches. Without lifting a finger, suddenly you’re making money and continue to make money with no effort on your part.

Landlording is work. Granted, months could pass by without a phone call from a tenant. But things break, require repairs, bills must be paid . . . and when a tenant moves out then it becomes a full time job to replace them.

If you split hairs, anything that is going to produce decent returns does require effort on the part of the person.