• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Trading Life for a Weekend?
    Build a Business, Build a Life.
    Unleash the Dream.

    Become an UNSCRIPTED™Entrepreneur.

    UNSCRIPTED™ Entrepreneurship is an entrepreneurial business strategy that unleashes dreams, frees time, and explodes your incomes—but more importantly, it changes your life forever. Make no mistake; this isn’t something you “try”— this is something you live.

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

FORUM SEARCH


Need answers about entrepreneurship? Search FIRST! More than likely your entrepreneurial topic has already been discussed.
Powered by Google Site Search.

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
    Online

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

    Messages:
    8,912
    Likes Received:
    45,992
    Joined:
    Oct 31, 2011
    Gender:
    Male
    Location:
    Gulf Coast
    Rep Bank:
    $142,970
    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.
     
    PureA, Ricoboxing, ZF Lee and 24 others like this.
  3. ironman150
    Offline

    ironman150 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    34
    Likes Received:
    61
    Joined:
    Jun 22, 2017
    Gender:
    Male
    Location:
    GREEN BAY WI
    Rep Bank:
    $307
    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
    Online

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

    Messages:
    8,912
    Likes Received:
    45,992
    Joined:
    Oct 31, 2011
    Gender:
    Male
    Location:
    Gulf Coast
    Rep Bank:
    $142,970
    50/50 on ONE AND DONE.
     
  5. Raoul Duke
    Offline

    Raoul Duke The Horrendous Space Kablooie Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    692
    Likes Received:
    2,075
    Joined:
    Feb 26, 2016
    Gender:
    Male
    Location:
    The Colour Out of Space
    Rep Bank:
    $26,703
    #FakeNews
     
  6. Vigilante
    Online

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

    Messages:
    8,912
    Likes Received:
    45,992
    Joined:
    Oct 31, 2011
    Gender:
    Male
    Location:
    Gulf Coast
    Rep Bank:
    $142,970
    I just sent you the value in fake currency what your post was worth to me in fake dollars.
     
    ZF Lee, Scot, SinisterLex and 2 others like this.
  7. MJ DeMarco
    Online

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

    Messages:
    24,092
    Likes Received:
    62,121
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $239,732
    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.
     
    ZF Lee, itech, Tobore and 11 others like this.
  8. BrooklynHustle
    Offline

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

    Messages:
    347
    Likes Received:
    442
    Joined:
    Apr 3, 2014
    Gender:
    Male
    Location:
    DMV
    Rep Bank:
    $2,494
    Would love to meet them. Sound like swell guys :smuggy:
     
    ZF Lee, Kingmaker, TheCj and 2 others like this.
  9. MJ DeMarco
    Online

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

    Messages:
    24,092
    Likes Received:
    62,121
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $239,732
    Admin Post
    One. And. Done.

    Not worth my time to even bother.
     
  10. 404profound
    Online

    404profound Bronze Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    245
    Likes Received:
    384
    Joined:
    Aug 27, 2017
    Gender:
    Male
    Location:
    Desert of Desertion
    Rep Bank:
    $1,879
    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
    Online

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

    Messages:
    2,378
    Likes Received:
    9,428
    Joined:
    Nov 14, 2011
    Gender:
    Male
    Location:
    Boulder, Colorado
    Rep Bank:
    $61,723
    Passive income is fu*king amazing.

    Until it's not anymore.
     
    ZF Lee likes this.
  12. Tobore
    Offline

    Tobore Bronze Contributor Speedway Pass

    Messages:
    116
    Likes Received:
    207
    Joined:
    Nov 30, 2013
    Gender:
    Male
    Location:
    Above and Beyond
    Rep Bank:
    $1,120
    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 Bronze Contributor Speedway Pass

    Messages:
    96
    Likes Received:
    186
    Joined:
    Oct 9, 2017
    Gender:
    Female
    Location:
    Nikiski, Alaska
    Rep Bank:
    $1,031
    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.
     
    ZF Lee and ironman150 like this.