residual income

All posts tagged residual income

Welcome to the very first edition of carnival of dividends and passive income.

I’m going to kick it it off with my own submission on How I Made $2,667 in Passive Income In March. Of course, if you’ve already read it, you can read about the Tax Benefits of Passive Income or about Earning Passive Income from Domains.

Dobromir presents Emerson Electric (EMR) Dividend Analysis posted at Create Rising Passive Income From Dividend Paying Stocks.

Geoff presents How did I make 5-figure Passive Income in 2007? posted at Wealth Monkeys.

Writers Coin presents Why I Quit One Source of Passive Income posted at The Writer’s Coin, saying, “Moral issues far outweighed the desire to make money by deleting emails”

Will presents Why I Still Love Real Estate Investing: Being A Landlord posted at Your Finish Rich Plan, saying, “I’m a sucker for passive income. My idea of financial freedom is that of rental and dividend income totaling roughly twice my expenses, leaving me free to pursue other interests (which may very well be other money-making ventures). That’s why despite everything that happened in the real estate market the past couple of years (or maybe because of it), I want to be a real estate investor, and more specifically, a landlord.”

The Dividend Guy presents Considering REITs In a Dividend Portfolio posted at The Dividend Guy Blog.

Tyler McKinna presents Dividend Growth Fund Stratgies Revealed posted at Dividend Money, saying, “An article outlining dividend growth investing strategies and how major mutual fund managers approach stock selection.”

KCLau presents How to Identify and Invest in the Hot Stocks of Tomorrow posted at KCLau’s Money Tips, saying, “A review of the book “Finding the Next Starbucks by Michael Moe””

Mark @ TheLocoMono presents Tracking Your Prosper Portfolio with Money Plus posted at Just Personal Finance, saying, “Using Money Plus to track your Prosper income can help you simplify your knowledge of how much money you are making and project your cash flow/growth.”

FIRE Getters presents Etrade’s Quickplan – Personalized & Easy Retirement Planning! posted at FIRE Finance.

Lulu presents Got My Repayments from Lending Club posted at How I Save Money.net.

We end with an article about music and money, which not quite relevant, is still pretty good nonetheless. Jeremy Zongker presents All I Really Needed to Know About Managing Money I Learned From Music posted at Destroy Debt.

That concludes this edition. Submit your blog article to the next edition of Carnival of Dividends and Passive Income using the carnival submission form. The next edition of this carnival will be on the 7th of May, 2008.

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Is it possible to earn passive income for domains? Absolutely!  It isn’t rocket science but it does involve a little bit of work. Here are the simple steps:

1. Buy a cheap domain name.

2. Decide how you’re going to monetize it. Either through ads on a niche site, affiliate sales, or domain parking.

3. Get up and actually do the work.

Buying Cheap Domains

GoDaddy currently has a great promotion on .info domains. They’re currently selling for only $0.99 instead of the usual $9 dollars. That’s about 90% off the regular price, and I spent the past several days getting about 15 domains that I think I might be able to monetize in some form or the other.

People might feel more comfortable or might more easily remember .com domains, but if you’re targeting search engine traffic it probably shouldn’t matter very much. A lot of the domains have dashes in them (example Sterling-Silver-Rings.info, but again, for visitors coming from a search engine it shouldn’t matter too much.

I also got a few domains that I think are pretty cool like Discount Ipod.info, Discount Seiko Watches.info and Cheap iPod Batteries.info.A good domain name has highly relevant keywords in it. How do you find these relevant keywords? Try using a search tool like Keyword Elite. It’ll save you a ton of time in research.


Niche Sites

The most common way of profiting from a niche site, is creating a lot of content around a keyword or an idea and putting ads around it.  If you can create a lot of unique content around a topic and attract a lot of visitors, you should be able to easily monetize it through Google Adsense or Text-Link-Ads or LinkWorth.

One way I’m thinking of profiting from them is through building a niche store (BANS). I already have an account with Dreamhost and I can host unlimited domains with them without any extra cost. You either set up an Amazon store or an Ebay store and make referral income off the sales. That’s a great way to produce residual income if you can make it work.

If you’re facing problems installing the BANS software on Dreamhost, check out this guide: How To install BANS on Dreamhost.

These are both great ways to produce residual passive income from a few hours of work. It might take a few months ramp up, but they should both add to my passive income.

If you’d like to buy a revenue generating website check out my business and investment store.

Update: September 18th 2008

Looks like my ebay-affiliate stores should pull in over $500 this month! The income has been going up every single month, while the effort has almost dropped off! That’s a pretty nice residual income stream.

However, if you’re too lazy to create content, then you might want to consider domain parking.

Affiliate Sales

This is by far the most profitable strategy and also the most work! You figure out how to drive traffic to  a site and how to get people to part with their money either by buying a 3rd-party product or something you’ve developed yourself.  I know guys who make over $100,000 a year doing this. It isn’t exactly passive but the hourly rate is insanely high if you know what you’re doing. I know of one guy who makes the equivalent ofi $5,000 an hour from his affiliate sites.

Here’s an example of an affiliate site that sells a very interesting product. Its a system that teaches to make money selling stuff! Here’s an example of a site that sells a product they developed themsleves.

Domain Parking

Another way I’m thinking of monetizing them is through Domain Parking. Many companies offer domain parking, including Sedo, GoDaddy and even Google. However, what they usually do is just put up ad links on your site. Unless people are directly typing in the address of your site into the browser you are unlikely to see any traffic or revenue.

A better way is to use a company like Why Park? They will automatically generate content for your sites and update it on a regular basis. The resulting site with fresh content is much more likely to get indexed in the search engines and get organic traffic (that’s traffic from search engines) and thus you are more likely to actually see some revenue.