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What is Passive Income?

Passive Income is defined as “income received on a regular basis, with little effort required to maintain it”. Unfortunately, money doesn’t grow on trees or fall from the sky so we need to think of creative business models that will allow us to generate passive income. This site will include businesses we’ve already started and ones that we are currently working on. You will find straight forward guides to each business and our blog posts will keep you updated with what we are doing, what works, and what doesn’t work. We’ll provide tools and tricks that will help you be successful and also collaborate with others who have started similar businesses to give you the best advice possible.

Who's It For?

Passive income usually sounds awesome to everyone but for very different reasons. Most of our family and friends that we share our passive income ideas with are intrigued but still don’t do it. Why? They have steady jobs… they have a family… it requires a good amount of up front work… So we realized this is not for everyone but we believe the benefits of freeing your time and money can be for many many people.

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Entrepreneurs

All entrepreneurs face emotional roller coasters during their lives and the ones that can finish the ride will be the ones that succeed. But if we can figure out how to make the ride a bit smoother, why not? Passive income creates fixed income which allows entrepreneurs to live the lifestyle they enjoy and free up time to focus on building a bigger business. No more eating bread and water while sleeping on your friends couch!

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Travelers

Your biggest goal is to travel the whole world. Unfortunately, this is only a dream. You can use your 10 vacation days and go to a different place each year but the world is too big and there’s way too much to see. So, how can we free up our time to travel and still live the lifestyle we want? Passive Income! You have the freedom to work from anywhere in the world at anytime you want and maintain the lifestyle you enjoy.

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Parents

Most parents struggle to balance work life with family life. Back in the day, men worked and women stayed at home to take care of the family but that’s not the case anymore.  So, how do parents spend more time with their children but still focus on building a career? Passive Income! You’re building a business, learning new skills, freeing yourself from having to go into the office and allowing yourself to spend more time at home with your kids.

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Lazy People

Your number one goal is to chill, watch netflix, take naps, order takeout, etc. Not a very healthy lifestyle but who are we to judge? Unless your spoiled by rich parents, won the lottery, or somehow make money for chilling, this is impossible to do. How can you “chill” a lot more? Passive Income! It’s definitely not a get rich fast thing but after working hard and smart to set up these businesses, you can create income that requires very little management and then sit around and chill all you want!

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There are six business models that we will start with. Please read each one below to determine what interest you.

Amazon FBA

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Amazon FBA (Fulfillment by Amazon) is a business model where items are sourced to be sold via Amazon. Items are generally sourced in countries with low cost manufacturing and then shipped to the U.S. to be sold at a price premium. What makes Amazon FBA a great passive income model is that once the product is sourced and arrives at the Amazon facility, all that is necessary is optimizing your listing and monitoring sales and inventory. Amazon takes care of order placement, item picking, shipping, invoicing and customer service. There is a lot of upfront work that goes into starting an Amazon FBA business, but once it gets going, you can sit back and watch the money roll in.

Airbnb Hosting

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Airbnb is a business model where people can list their space online to be shared with anyone around the world. This space can be anything from an air mattress in the corner of a living room to a villa or castle on the beach. What makes this model passive is that once your space is set up, all you have to do is respond to requests. Airbnb is a trusted and secure community marketplace that brings you guests and helps you manage your bookings. This was originally meant for people to share extra space in their own place but we’ve seen host with up to 70 listings. If done correctly, Airbnb can be a highly profitable passive income business.

Creating a Website

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Creating a website/blog and sharing your thoughts, knowledge and ideas with others can be done for pure pleasure, money, or both. It can either be a passive income business model or something that requires a lot of time and dedication. Once your website is set up, you can decide whether it requires regular updates and new content or not. What’s great about creating a website/blog is that it can be done at anytime and anywhere in the world.

Meetup

Meetup is an online platform with the largest network of local groups. Creating a meetup can be done for fun, money, or both. Meetup groups are local communities of people sharing the same passions, hobbies, interest, etc. This business model is not necessarily passive but allows you to do something you would want to do with others anyway and earn money for it. Once your group is created, Meetup will help you grow and organize events.

Rental Property

A rental property passive income model is one where people purchase a home (outright or with loans) for the purpose of generating stable rental income. These are most attractive when the economics make sense – low housing prices, high rental prices, coupled with low interest rates and stable demand.

Investing

Investments are a great way to generate passive income. With a large enough cash base and the right moves, investments alone can generate enough income to retire off of. Frankly speaking, we don’t have a lot of experience in this area. Our view of investments is that it is a way to diversify income streams and grow cash to fund future businesses (vs. holding cash in the bank).

5 Step Guides

Pick which business model (or all) that sound most interesting to you and follow our 5 step guides to gain a better feel of what it takes. We designed these 5 step guides to be simple and straight forward. These guides will get you started with setting up each business but your success depends on you.

“You don’t have to be great to start, but you have to start to be great.”

Blogs

After completing the 5 step guide/s to learn how to startup your own business, check out our blog to learn more specifics and see what we are currently doing in each business.