sideburn Posted January 15, 2014 Share Posted January 15, 2014 We all are here to make some "coins"! I wonder is there such an absentee ownership business that you can start out with a small capital? So far I've tried affiliate marketing and forex trading....no luck :-( I've thought about becoming a landlord with management company taking care of the business...but it needs a huge capital! Any ideas? :-) Link to comment Share on other sites More sharing options...
Action Vending Posted January 15, 2014 Share Posted January 15, 2014 no such thing Link to comment Share on other sites More sharing options...
sideburn Posted January 15, 2014 Author Share Posted January 15, 2014 haha...I must've been dreaming! Link to comment Share on other sites More sharing options...
sherlock Posted January 15, 2014 Share Posted January 15, 2014 I've thought about becoming a landlord with management company taking care of the business...but it needs a huge capital! Even with a management company, landlords are not 100% absentee. One example of when you will be needed is at the time of unplanned expenses. Management companies should have limited authority (a threshold) on expenditures like repairs during the rental and restoration of the home when it's between renters. Anything over that amount is going to require an "ok" from you...meaning you are going to have to be available and willing to do research into standard costs for whatever that expense is to make sure you aren't getting stung. A hefty price on a serious repair and you are going to want to be involved even AFTER you give the "ok" unless you have an allstar management company you REALLY trust. Link to comment Share on other sites More sharing options...
The Mage Posted January 15, 2014 Share Posted January 15, 2014 You are searching for passive income. It is a different paradigm for most people, where you don't work for an income, but work to create an income. First it must be understood that there are different levels of passivity. Least passive is hourly work for hourly pay. Most passive is like a bank account, or bond paying interest, or a stock paying a dividend. The usual route is to start off creating an income, then moving yourself out of the working side of things. One way to do this is to build a business, hire employees, and keep hiring until all your functions are replaced. I personally have been working toward this myself. I have recently purchased a duplex. I currently am not making a profit, but only because I am making improvements to it, financed by the tenants currently. Since I am the Landlord, but with only 2 tenants, it really doesn't take that much time. But I am thinking of getting involved with a group that invests in larger multi-family property, as a passive investor. This takes more money then buying a duplex, but somebody else will do all the work, although they will get a larger portion of the profits as a result. One way is to buy and place vending machines, preferably full line machines. Hire one person to help out, eventually moving them to full time, and eventually a full staff, with manager. It takes time, but you can effectively hire yourself out of a job. Regardless the more money you have, the easier it is to create that passive income quickly, but with less cash, it often takes more sweat equity. I recommend you read Rich Dad, and Cashflow Quadrant. Then the 4 Hour Work Week, but some people misinterpret this one, and use it as an excuse not to work, instead of a source of efficiency. A good, older book is "The Richest Man in Babylon" by George Clason. While not yet in the public domain, it is still available online, and Amazon will "loan" it out on a Kindle device, or in my case the Kindle app, if you are part of Amazon Prime. Link to comment Share on other sites More sharing options...
moondog Posted January 15, 2014 Share Posted January 15, 2014 We all are here to make some "coins"! I wonder is there such an absentee ownership business that you can start out with a small capital? So far I've tried affiliate marketing and forex trading....no luck :-( I've thought about becoming a landlord with management company taking care of the business...but it needs a huge capital! Any ideas? :-) I think they call it welfare Link to comment Share on other sites More sharing options...
dogcow Posted January 15, 2014 Share Posted January 15, 2014 i used to work for a company which did 100% affiliate marketing,all our products were sold by affiliates only we had 3 or 4 guys driving our traffic out of tens of thousands of affiliates. i mean to say we did a few million per month in sales, of that 80% of it was driven by 3 or 4 affiliates, those guys and gals were getting checks for $250,000 or so a month with about 15% cost of doing business for them (one lady was in russia and her checks were never under $100k), then about 10 affiliates were responsible for the remaining 15% of sales, with tens of thousands making 1 or 2 sales per month. then one day google changed some rule with their ad words and guys who were making $250,000 per month suddenly were making ZERO, yes it dried up THAT quick. i have no idea what they did after that but i have to figure they were devastated considering we were not their only product they were pushing. i guess my point is unless u know what ur doing forget about aff. marketing most of the ppl making money are the ones selling seminars peddling dreams and outdated tips Link to comment Share on other sites More sharing options...
sideburn Posted January 17, 2014 Author Share Posted January 17, 2014 Thanks everyone for wonderful insights! :-) Link to comment Share on other sites More sharing options...
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