Residual Income

[Brian R]

What are you doing to create residual income?

Investments?

Business?

Marketing to your carpet cleaning clients? Stay Beautiful Program etc.?

Inheritance?

Savings Account?

Billings?

Rentals?

Hoping and waiting??


What are you doing so when you stop working for a while..... The revenue keeps coming in.


Do you trade hours for money? When you stop working does the money stop as well?


Residual income is the key to wealth along with leverage.


What are you doing?


This would also be "getting off the truck" somewhat.... But there is so much more to it than that.


I would like to hear it.

 

[Desk Jockey]

My been saving up for a long time, I've done my research and found a property with the perfect demographics.

I'm preparing to venture into this lucrative business where I can 10 fold my investment.




Firecracker Stand, yep I've save nearly $120.00 dollars.

If I play my cards right I can parlay that into $800.00, $900.00 or $1000.00.
Eazy street here I come!
:mrgreen:

 

[Connor]

I sell Pure Romance.


That way people can screw themselves at their leisure.


http://ww2.pureromance.com/PUBLICSTORE/ ... 52d08eb594

 

[Out of Character - 0]

I've been spending time extra time with my Grandparents 8)

&

Investing in scooters

 

[Brian R]

So is that a "nothing" then? :|

 

[Out of Character - 0]

Sorry Brian I'll be serious :|


I'm selling weight loss shakes, feminine products, internet marketing, carpet cleanering, and any utility you can dream of.


Damn, I just realized that your a pretty busy guy :mrgreen:



I'm focused on cleaning. I don't see why some of you guys feel you can't make it rich in our industry if you want too. If not here then where is how I see it for most of you/me. To me, real estate is great too but only once you already have money or as a side project.

 

[Brian R]

I would be lost without busy. :arrow:

You can make it rich in the cleaning industry. Look at Ken Snow :mrgreen:


It's just we've been trained to make as much money as we can then draw on it after we can't/won't work anymore.

Having money coming in long after we're done working is a pretty awesome concept.

I've experienced this on a very low level and I can see the benefits.

Tons of ways to do this...Some are easier than others...Some are more lucrative than others.


I was just curious to see how many guys here have that type of thing going on and how they're doing it.



If it's with femine products....Who am I to judge? 8)

 

[Green&Clean]

I like your post. I'm just getting started and have no money So I have nothing to offer but to encourage you. I'd like to join some sort of creative investors club once I start making some money with carpet cleaning. I'm getting started a little old, at almost 40. So I have to make the most of it and play the game wisely.

 

[Chris A]

My long term goal is some rental property, not a ton but enough to offset some income. Right now just sticking a little away every month in the IRA is all I'm doing...

 

[Brian R]

Real Estate is an awesome money making venture. Plenty of residual if done right.

If you can get a property manager to take care of the "customer service" that's the way to go.



My idea of residual income is doing something once and getting paid over and over for it.... Limited if any customer service on my part... Just set it up and let it go.

It's nice to be able to do the things you want and STILL have money coming in from the things people need.

 

[Desk Jockey]

So I can't count on you going half and half with me on the firecracker stand?

Could be BBBBig bucks you're passing up on!
:mrgreen:

 

[Brian R]

I'll do it. What do I have to lose?

No reward without the risk.

 

[Desk Jockey]

Good figured I could count on you. You can have the profit from the things that pop and I'll take the night works.

Ok I'll get your schedule written up. Lets see July 1-5 why don't you count on working all of it. :shock:

I'm pretty much the idea man. :mrgreen:

 

[Brian R]

Ok but it'll cost you $499

 

[Connor]

I'll do it. What do I have to lose?

No reward without the risk.

Oh, well, I hear that swimming in shark infested waters is risky, why don't you try that? Surely such a risk has a great reward, chum. :mrgreen:

 

[Brian R]

I'll do it. What do I have to lose?

No reward without the risk.

Oh, well, I hear that swimming in shark infested waters is risky, why don't you try that? Surely such a risk has a great reward, chum. :mrgreen:

Chum... I get it.

There actually needs to be some kind of reward for the risk to be taken... Hellur?

Maybe the reward is sweet death?

 

[Hoody]

He never said you'd get the award, but for the rest of us, well... :mrgreen:

I have investments, stocks, and an IRA. One of the investments I actually started, the others were started for me that I have control of, however allow a financial advisor/manager take care of, and one of my family members oversees all of it. My cousins have investments/stocks/IRA's too, that are overseen by that family member also. I was surprised to find out I have stock in a company that own a manufacturer in this industry.

My plan one day is to become a part of a company to pay my bills and make a living work my way up to management, and then at some point offer to buy the company when it gets to a certain point. I found recently you can use an IRA to invest into real estate, and I'm also looking into that.

 

[Brian R]

Unless you're a serious player in the Stock Market, you will only get so much return.

Hoody, Hoodro, Hoodalopalous.......Even if you have a job you should own a side business of some sort if just for the tax write offs....Not to mention extra money etc etc etc.

 

[Hoody]

Yeah Brian I know, why do you think I work payroll jobs right now along with what else I do.... its helps offset my taxes aside from what I'm able to write off. I pay in estimated taxes yadda yadda. Why else do you think I went MF last year aside from hanging out with friends, a write off just like everyone else. Why am I leaving tomorrow to go to Utah for a week, for "work" and vacation, and a write off.

I'm doing just fine, I'm a bigger player than what you might think, but I'm not one to brag about numbers, and really up until a year ago I didn't know exactly what I had. I do what I do because I made a promise to my grandfather before he died that I'd make sure my grandmother would be alright, and I'm a man of my word. Shes worked the same job for 43 years, shes been sick for 10 years, and shes finally going to retire this year in August. I foot the bill for everything for her so she can invest her pay checks into her retirement so she can at least enjoy the bit of life she has left, and I still pay my bills and take care of my son. I spend a lot of time with him, in fact I have him more than his mother does, but anyways. Once she retires I'll move on to bigger and better things, a promise is a promise and its the least I can do for the two people aside from my dad who raised me.

 

[Brian R]

Right on Hoody.

I think you think I under estimate you bro. Maybe I do. But I do give you tons of credit for everything that I know you do.

You're a stand up guy.

 

[Lee Stockwell]

On that we agree.

 

[Brian R]

I'm comin to join ya Lizabeth!!

 

[LisaWagnerCRS]

I'm going to start a black market ring of Tide smuggling...

http://www.foxnews.com/us/2012/03/12/po ... p=obinsite

Perhaps I'll create a MLM out of it...

Lisa

 

[Royal Man]

How do you conceal jugs of Tide under a trench coat?