• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 40,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

Drive-By Is Passive Income real?

Discussion in 'General Entrepreneur Discussion' started by Saf, Dec 6, 2017.

  1. Saf
    Offline

    Saf PARKED

    Messages:
    1
    Likes Received:
    0
    Joined:
    May 29, 2017
    Gender:
    Male
    Location:
    NY
    Rep Bank:
    $6
    After reading the original Millionaire Fastlane book, I was completely enamored by the possibility of having a business that just generates income by itself for you, without you necessarily having to work on it a ton. However, researching into Passive Income online, many people mention that it's not in fact real at all, and that this is all just a hoax instead and that people who preach about this are just part of the new age get-rich scheme guys or just people looking to sell a product or market themselves. I wanted to get anyone's opinion on this matter, please let me know. Thanks for your time!
     
  2. Vigilante
    Offline

    Vigilante Legendary Contributor Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    9,612
    Likes Received:
    53,775
    Joined:
    Oct 31, 2011
    Gender:
    Male
    Location:
    Gulf Coast
    Rep Bank:
    $179,427
    I spent 90 days living in Hawaii, watching my kids play in the surf, and managing my business from a laptop. Passive Income doesn't mean no work. It means you work on your terms, and your time is separated from your income.

    If I list my old bicycle on eBay, and someone buys it from my garage, it's not passive. However, if I list 200 bicycle horns on Amazon, ship them to Amazon for fulfillment, and have Amazon send me an EFT every few weeks, is it passive?

    If I own a mini storage facility, and have a manager that works at it 50 hours a week, and I work on it 2 hours a week, is it passive?

    Take off your coat and stay a while here. Passive doesn't mean no work, especially in the beginning. You should be prepared to work harder than you ever have in your life to set up the rest of your life.

    I am part of no scheme, have nothing to sell you and no reason to market myself to you. I am telling you that where there's a will, there's a way and the people who SCRIPT for you the rules you have to live by are right... they themselves will never likely find financial freedom. Research the people who wrote the articles you refer to, and you'll find that each of them... works for someone else.

    By the way, you may want to drop by the newbies section here, take a look at how people do some intros and then write an introduction for yourself. Most of the people we see flame out here start with debate questions, and never really dive deep enough to study, learn, and contribute. Stop on by and spend some time taking a look at how new contributors get recognized.
     
  3. ironman150
    Offline

    ironman150 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    77
    Likes Received:
    124
    Joined:
    Jun 22, 2017
    Gender:
    Male
    Location:
    GREEN BAY WI
    Rep Bank:
    $613
    Saf, it IS real but not as expected. My passive income is the fact that i sell on Ebay and Shopify and every morning i have new orders that i "sold" while I slept. It's passive income, however, there was some bulk time spent making those listings and a small amount of time to fulfill those order. I am also working on getting rental real estate that would be considered passive income because i'm not working there every day BUT when something needs fixing or i have to do the accounting there is time put in. I have passive-ish income. You will always have to put in some time.

    Don't be dissuaded though..it is AWESOME when I wake up and see I made another few hundred bucks (or more).
     
  4. Vigilante
    Offline

    Vigilante Legendary Contributor Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    9,612
    Likes Received:
    53,775
    Joined:
    Oct 31, 2011
    Gender:
    Male
    Location:
    Gulf Coast
    Rep Bank:
    $179,427
    50/50 on ONE AND DONE.
     
    Roulf, Kak, Kingmaker and 5 others like this.
  5. Raoul Duke
    Offline

    Raoul Duke viene el cucuy Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    1,077
    Likes Received:
    3,691
    Joined:
    Feb 26, 2016
    Gender:
    Male
    Rep Bank:
    $2,886
    #FakeNews
     
  6. Vigilante
    Offline

    Vigilante Legendary Contributor Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    9,612
    Likes Received:
    53,775
    Joined:
    Oct 31, 2011
    Gender:
    Male
    Location:
    Gulf Coast
    Rep Bank:
    $179,427
    I just sent you the value in fake currency what your post was worth to me in fake dollars.
     
    Arun Siva, ZF Lee, Scot and 3 others like this.
  7. MJ DeMarco
    Offline

    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    26,470
    Likes Received:
    81,565
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $343,651
    Admin Post
    Yup, but I give it 90/10.

    Notice one post and then leave. Didn't stick around to read anything. Join, post, leave.

    Too many people come here looking for lottery tickets and instead find hard work and tough challenges. In other words, passive income is fake because it isn't easy. I guess aliens have been sending me money for the last 20 years.
     
  8. BrooklynHustle
    Offline

    BrooklynHustle Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    701
    Likes Received:
    1,356
    Joined:
    Apr 3, 2014
    Gender:
    Male
    Location:
    DMV
    Rep Bank:
    $9,182
    Would love to meet them. Sound like swell guys :smuggy:
     
    jon.M, ZF Lee, Kingmaker and 3 others like this.
  9. MJ DeMarco
    Offline

    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    26,470
    Likes Received:
    81,565
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $343,651
    Admin Post
    One. And. Done.

    Not worth my time to even bother.
     
    Roulf, Nily, ZF Lee and 3 others like this.
  10. 404profound
    Online

    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

    Messages:
    659
    Likes Received:
    1,402
    Joined:
    Aug 27, 2017
    Gender:
    Male
    Location:
    Desert of Desertion
    Rep Bank:
    $1,623
    Make your money. Buy a trailer park. Hire a property management firm if it’s not turn key. Find something to do with your free time.


    Sent from my iPhone using Tapatalk
     
  11. AndrewNC
    Offline

    AndrewNC Limitless Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    2,486
    Likes Received:
    10,011
    Joined:
    Nov 14, 2011
    Gender:
    Male
    Location:
    Boulder, Colorado
    Rep Bank:
    $65,977
    Passive income is fu*king amazing.

    Until it's not anymore.
     
    Tiger TT and ZF Lee like this.
  12. Tobore
    Offline

    Tobore Bronze Contributor Speedway Pass

    Messages:
    116
    Likes Received:
    213
    Joined:
    Nov 30, 2013
    Gender:
    Male
    Location:
    Above and Beyond
    Rep Bank:
    $1,155
    Nope!

    The Matrix is real!

    ***

    As a suggestion, I think it would be nice to have a "post-verification system" to avoid passer-by's from derailing the quality of the forum.
     
    ZF Lee likes this.
  13. WJK
    Offline

    WJK Gold Contributor Speedway Pass

    Messages:
    570
    Likes Received:
    1,188
    Joined:
    Oct 9, 2017
    Gender:
    Female
    Location:
    Nikiski, Alaska
    Rep Bank:
    $7,667
    It depends on what kind of passive income you're talking about. My mobile home park is a LOT of work, but my tenants are low to moderate income. Someone is always coming, going or having issues. During the summers, I also have full hook-up RV spaces and sleeping rooms available. They are also take lots care and tending. I always joke that the Laundromat is my minimum wage job -- that takes 45 minutes per day to take care of -- opening, closing, cleaning and maintaining. My trust deed business is my favorite... the deals are hard to find and they each take a large up front investment. Then I have a bank collect the payments into my savings account and do all of the paperwork. My return is lower on the trust deeds, but a lot less trouble to operate.

    "Passive Income" is a pretty broad label. What type of income stream are you interested in creating? The e-businesses are blurring the lines between the different classes of businesses. My Laundromat, under the tax laws, is an active business. The mobile home park and the trust deeds are both passive businesses.
     
    Xeon, ZF Lee and ironman150 like this.
  14. Xeon
    Offline

    Xeon My Lane Is Fastlane. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    649
    Likes Received:
    1,404
    Joined:
    Sep 3, 2017
    Gender:
    Male
    Location:
    Singapore
    Rep Bank:
    $6,485
    Maybe the OP is referring to the true and final form of "passive income", which is lots of money which keeps rolling in monthly without having to work a single day in your life (e.g: sell the business for a few millions or more, then use that money to invest in safe bonds etc to build the "money tree system" mentioned in the last few chapters of Unscripted).
     
  15. theag
    Offline

    theag Most Aggressive Guy on the Internet on the Planet Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    3,682
    Likes Received:
    10,141
    Joined:
    Jan 19, 2012
    Gender:
    Male
    Rep Bank:
    $50,233
    I don't know. Does earning the same money as before while spending all your time sailing on your boat (thousands of kilometers away from the physical part of the business) and zero time on work for a few months count?

    Ok, lets not forget the thousands of hours of work spent on making the business "passive", but who wants to hear about that boring part. Not me, lol. #instapassiveincomekoolaid #followyourpassion #dowhatyoulove #amilliondollarsisntcoolyouknowwhatscoolabilliondollars
     
    Last edited: Dec 19, 2017
    Tiger TT, mws87, JordanK and 2 others like this.
  16. Raoul Duke
    Offline

    Raoul Duke viene el cucuy Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    1,077
    Likes Received:
    3,691
    Joined:
    Feb 26, 2016
    Gender:
    Male
    Rep Bank:
    $2,886
    [​IMG]

    Lies!! Do NOT listen to this person @Saf... It is a hoax. The New Age Get Rich Scheme... is real.
     
    Ninjakid likes this.
  17. ecommerce_lovin
    Offline

    ecommerce_lovin Bronze Contributor Speedway Pass

    Messages:
    50
    Likes Received:
    168
    Joined:
    Jun 15, 2017
    Gender:
    Male
    Location:
    Brooklyn, NY
    Rep Bank:
    $1,558
    If you invested in bitcoin 5-6 years ago...I would consider those profits to be passive income. Like @Vigilante said, passive income is how you look at the meaning. I would consider running an FBA company passive income because orders flow in while you are not sitting in an office, some people would not consider FBA passive income because there is a lot of pre-work that goes into generating those sales, getting the inventory, marketing your listings, ect...
     
  18. WJK
    Offline

    WJK Gold Contributor Speedway Pass

    Messages:
    570
    Likes Received:
    1,188
    Joined:
    Oct 9, 2017
    Gender:
    Female
    Location:
    Nikiski, Alaska
    Rep Bank:
    $7,667
    It's those thousands of hours, the learning curve, and wrestling that golden idea through the process that no one wants to talk about, or do. That's OK. I've always been up to doing that part -- doing the dirty work is my specialty. The guys looking for instant success are sitting the curb burping and chirping, wondering when & why they feel off of the gravy train.
     
  19. MoreVolume
    Offline

    MoreVolume Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    177
    Likes Received:
    246
    Joined:
    Oct 6, 2016
    Gender:
    Male
    Location:
    NC
    Rep Bank:
    $1,397
    Sometimes I buy lunch with my business debit card, and walk out the restaurant with more money than i walked in with
    Nah, passive income ins't real
     
    theag likes this.
  20. The Abundant Man
    Offline

    The Abundant Man Silver Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    535
    Likes Received:
    589
    Joined:
    Jul 3, 2018
    Gender:
    Male
    Rep Bank:
    $2,917
    I met all these digital nomads when I lived in South Korea and travelled throughout SouthEast Asia. About a good 90% were Europeans for some odd reason.(I'd see mopeds then I'd see a few BMW's. Lots of Koreans and Chinese businesses in SouthEast Asia) Of course lots of English Teachers in Korea and Japan and of course American military.
     
  21. Philip Marlowe
    Offline

    Philip Marlowe Every Day On, No Days Off Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    278
    Likes Received:
    825
    Joined:
    Apr 28, 2017
    Gender:
    Male
    Location:
    NE
    Rep Bank:
    $1,369
    I think "automatic" should replace "passive" in this particular case. It's not that there's no work involved, but rather much of it has been automated/outsourced/etc. so that the time investment for the owner remains minimal. "Passive" is easier to market, in my opinion. Maybe semantics...
     
    MJ DeMarco likes this.

Share This Page