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Passive income: something that makes you money while you sleep(read it somewhere). Any examples, what type of businesses you are talking about?
I get paid to sleep on overnight shifts, does that count?
I run https://IndieHackers.com where I interview developers/entrepreneurs about how they make money from their apps and projects. There are tons of examples there that fit into the "passive income" category as you define it ("making something that makes you money while you sleep"). A couple of good examples from the site: - park.io (from Mike Carson) makes $125,000/mo taking domain backorders; he essentually wrote to…
I have a card game business that's aimed towards women, PoCs & the lgbtq community - groups who aren't traditionally served. Every couple of weeks I ship product to an Amazon warehouse and do a bit of advertising on Facebook. It brings in around $40k/mo and 3-4x during the holiday season.
Is that net or gross?
if you hire the right people anything can be a passive income.
Passive income: something that makes you money while you sleep(read it somewhere). Any examples, what type of businesses you are talking about?
i know a gentleman that owns storage units up and down the north east, never steps foot in the states for years at a time.
AirBNB & rentals can be hands free too, as another example,
A stock portfolio that I've built through consulting profits is my main passive income source. Anything else is not really "passive." This probably isn't the answer you're looking for, but in my view the average developer is much better off simply selling their time at the maximum rate and funneling the profits into a well-managed portfolio. The median outcome for this is much better than the story on most passive-in…
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Not unless you can do it from anywhere AND you are not expected to be available during overnight if the situation demands :)
Oh I see, now we're moving the goalposts ;)
I've got a savings account. Interest on that baby is getting me upwards of 30 cents a month.
But I hope to double it with a better investment strategy.
-- edit --
I just looked at my depot and it seems like I made about 4€ last month. Well, guess retirement is near :)
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Passive income: something that makes you money while you sleep(read it somewhere). Any examples, what type of businesses you are talking about?
owning real estate that someone else manages or really owning any business that someone else fully manages for you. i know a gentleman that owns storage units up and down the north east, never steps foot in the states for years at a time. AirBNB & rentals can be hands free too, as another example,
If you've ever owned real estate or a business you'd know it can't be 100% passive. Even with a property manager, there are always things to fix, change, or update, and the associated decisions to make about it. One bad tenant or a property manager with bad judgement, and you're 100% back in full-time landlord mode to clean up the mess (literally or figuratively).