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Ask HN: What are the some passive income strategies you do beside your IT job?
81–90 of 106 posts
Re: Ask HN: What are the some passive income strategies you do beside your IT job?
#82Re: Ask HN: What are the some passive income strategies you do beside your IT job?
#83I would say its easier to be focused than general for the small timer. I made a niche ERP integration with an app, then sold it for 150/monthly to 20+ customers. I've done other things like building a plugable CMS and making components but that focused approach I first mentioned was easy money compared to those.
Please share the link of your product.
This is just for enterprise customers where they wanted a snap-in mobile ecommerce app that integrated with their very niche ERP system you probably haven't heard of. It is just a software subscription agreement with no product site. I'm embarrassed to show on here anyway as its 5 years old now but you get the idea. My wife suggested I do this and it was low hanging fruit, meaning clients wanted it, there was no competition to build it for them as no one really knows that ERP so it was just a pretty easy step to decide. Peter Thiel said "competition is for losers" and I know what he meant in this particular case although on a tiny scale of very niche customers.
Re: Ask HN: What are the some passive income strategies you do beside your IT job?
#84Earlier quoted context omitted.
I wasn't exactly blessed with good looks. That would not be a passive strategy for me, considering how much time I'd have to spend at the gym. Can I hire a younger, better looking guy to go marry a rich lady and send me back dividends?
No, that would constitute sex trafficking these days.
If he's skilled enough he can build a clone/android that looks better than him and sends it marry rich old ladies ;-)
This message comes from 2080.
Re: Ask HN: What are the some passive income strategies you do beside your IT job?
#85AI driven stock trading robots, the best hobby ever :-)
No customers, no employees and no investors and truly location independent...
Re: Ask HN: What are the some passive income strategies you do beside your IT job?
#86AI driven stock trading robots, the best hobby ever :-) No customers, no employees and no investors and truly location independent...
That sounds pretty fun. But after you get the basic workings right, isn't it just a latency war with other trading bots (meaning the lowest latency gets in the most profitable trades)?
If you had a uniquely good trading algorithm isn't it effectively just trading by hand but faster? And related question, if you're doing a lot of trades, wouldn't trading transaction fees eat you alive?
Re: Ask HN: What are the some passive income strategies you do beside your IT job?
#87AI driven stock trading robots, the best hobby ever :-) No customers, no employees and no investors and truly location independent...
That sounds pretty fun. But after you get the basic workings right, isn't it just a latency war with other trading bots (meaning the lowest latency gets in the most profitable trades)? If you had a uniquely good trading algorithm isn't it effectively just trading by hand but faster? And related question, if you're doing a lot of trades, wouldn't trading transaction fees eat you alive?
Not really, because I am not into HFT, so latency is not a problem for me... (I don't have the money, 100s of millions for infrastructure to compete with the big boys)...
Sure, I can do it all by hand, the key here not speed, but automation... I rather be fishing or drinking beer by my pool instead... Trading fees: 5$ fee on $50k/$100k position is frankly irrelevant for example...
Re: Ask HN: What are the some passive income strategies you do beside your IT job?
#88Earlier quoted context omitted.
That sounds pretty fun. But after you get the basic workings right, isn't it just a latency war with other trading bots (meaning the lowest latency gets in the most profitable trades)? If you had a uniquely good trading algorithm isn't it effectively just trading by hand but faster? And related question, if you're doing a lot of trades, wouldn't trading transaction fees eat you alive?
Not really, because I am not into HFT, so latency is not a problem for me... (I don't have the money, 100s of millions for infrastructure to compete with the big boys)... Sure, I can do it all by hand, the key here not speed, but automation... I rather be fishing or drinking beer by my pool instead... Trading fees: 5$ fee on $50k/$100k position is frankly irrelevant for example...
Have you been able to beat the index funds historically?
Re: Ask HN: What are the some passive income strategies you do beside your IT job?
#89I have 4 rental properties. Selling 2 though since they are too far from me (GA and OH). Each under $30K.
Wow. Curious, how do you fund your purchases past the 1st or 2nd rental home?
I'm finding it difficult to get loans. No-one talks about this issue.
Re: Ask HN: What are the some passive income strategies you do beside your IT job?
#90Being married isn't all that passive, but it is a great income strategy. Having kids is a terrible one.
I would assume that a failed marriage is one of life's most financially and emotionally destructive events. So unless you are willing to put in the work that a healthy relationship requires, then it is certainly not passive.
If you include kids in the mix, then, yes, much more expensive and the toll of a failed marriage much more significant.