Making $3,000/Month In Passive Income
One of my near-term goals’ is to create $3,000 in passive income. So far I’m about half way there, with income from various sources like blog advertisement revenue, Canadian Income fund and stock dividends, real estate trust deeds and direct oil and gas drilling programs. Serial-blogger, Derek Beau, has already reached this target and his goal is to now make $10,000/month! Unlike me, he’s chosen to generate this income solely from blog ad revenue.
Over the past 2 years, he’s created 23 blogs on various topics ranging from golf to pregancy (apparently personal experience or expertise isn’t a deterrent!). He outsources the content creation using sites like Elance, and pays between $3-$5 per post. After waiting for a few months, during which time he lets the traffic build up, he begins to monetize it using various companies like Google, Text Link Ads, Kontera and direct advertizers . He’s making $3,000 every month and his eventual goal is to have 100 blogs pulling in $10k every month.
This isn’t by any means a unique or novel concept. However, I haven’t met anyone who actually have put in the effort to create so many sites and successfully monetize them.
Anand of TheAnand, has taken this automation one step further by suggesting that you can even automate blog posts by having google alerts send emails directly your blog auto-post email address! He even has a disease site on Avian Flu thats a really good example of a topic specific information site. I’m not sure what his traffic or conversion numbers are, but its still quite well implemented.
While creating 20+ blogs takes an awful lot of time and may not be possible for everyone, there are still ways to make passive income online. This next post describes two ways for you to earn passive income from your domains with a minimal amount of effort.
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November 6th, 2007 at 6:35 am
Hello,
I`ve just started similar task. However, I`m not focused on blogging as a main source of income.I`d like to describe my road to success from the scratch to considerable capital - I reckon around $1mln.
I guess success attracts more audience. So my concept of growing traffic simultaneously with growing capital should work. How is that with you ?
November 9th, 2007 at 6:11 pm
Question, I’m little new at this, but I want to do this and get it right the first time around if possible, so I come to you guys, the experts in this.
1.)multiple blogs, what’s the best place or places to go for setting up multiple blogs, and start this endless loop of passive income.
2.) What are the best tools to manage these multiple blogs.
3.) Where are you putting your residuals to make the most interest on this passive income or are you rolling over the residuals.
4.) Do you pay yourself a certain percentage, if so how much and how frequent.
4.) I need a mentor
November 12th, 2007 at 12:00 am
wordpress is good, but you could even start with a free blogger account.
i’m investing my money in Gold and gold etfs, FXA (australian currencyshares ETF) and canadian income funds.
November 15th, 2007 at 8:11 pm
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November 15th, 2007 at 8:11 pm
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November 17th, 2007 at 5:59 am
Living Off Dividends,
Making $3000/month from blogging is outstanding. However, I think managing 23 blogs is “work” vs. passive income:-) For me, passive income keeps paying even if I have zero effort in it for a long period, e.g. 5 year CD.
November 20th, 2007 at 7:03 pm
I don’t get it. Why is your goal only $3000 per month in passive income? You can’t live off of that (at least not live well). Not having to work is no fun if the alternative is mostly sitting at home and living a working class lifestyle.
November 20th, 2007 at 10:30 pm
$3000/mo is my goal for 2008.
Like they say, a journey of a thousand miles begins with a single step.
November 21st, 2007 at 4:03 am
I say Write - on!
$2000 a month in costa rica goes a long way.
learn spanish , sell all your anchors, pack your lap-top,and blog away on the beach.lol good luck
December 3rd, 2007 at 1:16 pm
3000$ per month is not enough to live well? Where do you live? San Fransisco? I live on the mainline near Philadelphia and while I pull in more than the above amount, I could easily and happily live on that.
December 3rd, 2007 at 1:16 pm
That post was meant @ I don’t get it.
December 3rd, 2007 at 9:33 pm
I live in San Diego.
The rent on 900 sq ft condo is $1500, so living on $3k/mo just takes cares of the basics.
December 7th, 2007 at 9:12 pm
You can live off of about $300 in Thailand living in a shiny clean and new highrise with local transportation costing about $.25 and a $40 cab ride here in the states costing about $2 there.
You can live off of $400-$600 with food and all bills paid in the Phillipines in higher end local standard housing or about $800-$1,200 in international standard housing (nice by US standards) thats 1,500-2,500 sq ft with a maid, utilities, cable, internet and great food.
You can live off of $2,000 in Dubai and live a life eating the foods you normally eat and living like you normally live. Dubai is safer than New York, honestly with the same wow factor. The excellent restaurants, shopping and nightlife push the bar a little higher to $3,000. Dubai is the love child of Vegas, Miami and New York. Palm trees and desert oasis feel of Vegas, the decadence and ridiculously rich and the beaches of Miami and the WOW factor of new York with the 1,001 things to do. Pulsating lights, shopping here, the biggest widget there, a million dollar settlement here, the glitziest whatismanugget there.
You can live in Belize for about $300-$500 a month on the beach but not in a luxury high rise. In a locally equivalent home with all of your nice stuff in it buying local fruits and produce.
You can live on about $1,500 in Jamaica. Similar to the profile on the Phillipines.
December 30th, 2007 at 8:52 pm
Jae926,
Could elaborate more in detail on how to live in these countries you mention for just little money. Most of the expat websites and blogs seem to show, it is not as easy as pack up and move. There’s a lot of research and travel time that has to be done before making the big leap, as to living overseas.
December 31st, 2007 at 4:47 am
Leo,
Information on living in Thailand I have has been gathered from sites here and there. There are a few carribean countries and third world countries such as Cuba, Costa Rica, Panama, Belize and more modern countries like the United Arab Emirates (Dubai) that will welcome you to live as long as you don’t need to work on thier economy to survive, some may require an investment of some sort in a bank $100K+ at varying percentages of return or in the purchase of property maybe with a locally funded loan or sometimes by cash. There are of course official processes that are required to get these visas but some are more official than others. Some countries are notorious for German, Canadain and American expats coming and never leaving like the Dominican Republic but you s couldn’t do that in Dubai. That have a watchful eye on everything going on and bribes aren’t going top work there like they would in Cuba or Kenya. In Dubai you would be eligible for a residential visa (non-working) if you purchased a property there. Don’t fret, there are no credit checks to purchase homes or cars in Dubai and only a 10% downpayment is required and then payments would start on the condo that you are purchasing starting at about $110K if you get in on the very early phases of construction which you could afford along with utilities, entertainment and groceries on $3,000 a month or $300K-$500K if you wait. I know this link shows much more expensive condo’s but in the local shopping malls and business centers are a glut of developers with miniature models that are pre-selling space and thats where you will get your deals. It’s worth the plane ticket to Dubai. Here is the link with the type of properties available, use an online currency converter http://www.emaar.com/Search/PropertySearch.asp.
You can check out prices for apartments in Thailand by going to Craigslist.com and checking out the listings for Thailand/Bangkok. You can find something decent for $200 a month (before the dollar sank) about $60 for utilities and roughly $40 a month buying and cooking local groceries on a non-working visa or even working teaching english as a second language. You will see that there are much more beautiful and moderately expensive places in Thailand ranging up to $1,500 for a 5 bedroom villa but $300 could get you by if you wanted it to by taking local human powered taxis or mass transit style open air buses, eating at local Thai restaurants and not running your A/C 24 hours a day.
Are you interested more in knowing how to live on the amounts that I suggested or what the processes were for obtaining a resident visa based on investment or a temporary working visa? Definitely two different horses. Thanks for your comment.
December 31st, 2007 at 10:52 am
I’m 68 and owe nothing - house is paid for.About 1000. year taxes on house and 700.insurance on same. Car insurance liability only about 300. Directv TV.dsl and phone bill about 100. a month. Utilities about 300.Medicare is about 100. a month. gasoline about 100.a month. On a monthly basis these items come to 760. So if I made 3000, a month that would still leave 2240. for food clothes and repairs. A lot of variables for different folks I guess but I would have no problem whatsoever in living on 3000 or less. in fact I do even though I bring in considerably more. Anyway who the hell wants to go to Thailand,Dubai or South America. I’ll stay home with my 50″plasma,paid for house and car,my own doctors and folks that speak english.
January 23rd, 2008 at 8:05 pm
Making $3,000/Month In Passive Income thanks for this post!.
January 24th, 2008 at 9:33 am
I like your idea, but it needs patience, resolve and strategy. Humans by nature seems to short on that. Having said that, the down side to this idea is that especially for stocks dividend paying companies are not the best companies in term of growth. In an ideal world, a company starts paying dividend when it does not know what to do with the pile of money (MSFT is a prime example). That is a sign of a mature company with slow growth. i personally tend to believe in value investment. BTW I like your blog thnks for sharing your ideas
February 6th, 2008 at 2:27 pm
I think I’m going to give this a try. Try to get paid to teach myself how to advertise and use the blogging websites that are out there.
Thanks for the idea.
March 12th, 2008 at 4:06 pm
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March 13th, 2008 at 6:21 am
Guys,
I live in salvador bahia brazil. The winter daytime temperature is + 22 celcius. $3000 usd is like R$5000 reais. You can buy land and build your own 600square foot house for about $9000 usd then pay about R$250 for electricity with AC during the hot summer months, R$100 for DSL with phone line, R$400 per month for food eating/cooking well at home, new 4 x 4 car lease + gas monthly R$850/month, satellite subscription + R$100 decent package. Sum that up you get R$1700/month. If you had to pay rent for a decent 2 bedroom house or apartment in a decent area R$600-R$900 with condo fees. So thats a total of max R$2600/month. Leaves you R$2400 for entertainment with the ladies or what not. R$5000 per month is like living on US$15,000 in most states in the usa.
March 15th, 2008 at 6:59 pm
I live in Vancouver, BC, and I just bought an apartment, paying a monthly mortgage (+ maintenance) of about 1400-1500/month CDN. I make approximately 3grand clean/month, so I only have 1500 to live off of. It’s pretty hard to save a lot of money doing that and spending the kind of money you want. But 3000 in passive income is GREAT, just to have the extra cash flow/month. I mean, you’re basically doubling your income! I’d be happy with that.
April 16th, 2008 at 5:48 pm
I like your idea. Passive income is definitely the way to go. Good luck!
May 25th, 2008 at 8:49 pm
I live in Thailand and you can live pretty well for $3000 per month as long as you steer clear of the property hotspots like Koh Samui and Phuket. I live in Chiang Mai and make approx $6000 per month. My standard of living is maybe 5 x as good as it was when we lived in London. Nice big house, maid, nanny etc.
Check my website if you are interested in retiring or moving to Thailand.