Income Sources

Most of my writing on this site has been about investing and trading to this point – and it will likely remain that way for a while going forward.  Despite this, my number one goal at the moment is creating new income sources.

The website will serve as a base for many new income sources (like eBooks, affiliate sales and newsletter products), but there are several possible sources for income that are not directly related to this website or the internet at all (though I will recount them all here).

The problem is, it isn’t enough to just say, “my goal is to create new income sources.”  The goal needs to be more developed and the new sources need to be pinpointed with legitimate plans to work from.

For now, my base goal is to develop five income sources that produce in excess of $100 per month by the end of Q1 2017.

So to ironically avoid a lame transition to the sub-categories of the article with a lame transition, here are my potential income sources, organized by likelihood of occurrence.

The Cinch

My Day Job

I don’t talk about how much I make at my day job on the site to avoid any issues with the job.  But I think it is safe to say that I make more than $100 per month.

The Very Likely

Landlording

My girlfriend and I recently moved from a 670 SF condo with two cats to an 1,150 SF townhouse with two cats and a dog.  We saved for about a year to hit the down payment for the new townhouse and since moving have put the money that went toward saving toward the mortgage on the condo while we repaint, make subtle repairs and otherwise prepare it for rental.

According to Zillow, the condo will likely rent for somewhere around $1,100 per month.  The mortgage plus HOA is $750 per month and the tenant will be required to pay all other expenses.

Neither of us has any experience with investment properties and long-term we hope to create a real estate oligarchy by increasing our income and saving to be able to move every few years while retaining each of the places where we live.

By March 2017, the condo should have at least three or four months of rental history to draw from and will likely produce profits each month well in excess of $100.

Realized Trading Gains and Dividends

For this category I will add all the dividends with the realized gains from either investments or trades.  Some months will see huge long-term gains and other will see huge losses; over time $100 is a legitimate goal for income from my portfolios.

The dividends do not come each month – most of the time they are paid quarterly.  YTD I have been paid a paltry $175 in dividends in my main account.  The secret weapon, however, is the secondary brokerage account where we saved for our down payment and where all long-term savings goal projects will go.  This account produced total dividends of $305 between January and June this year.  Together the two accounts averaged $48 per month.

This makes the trading easier, with between $2k and $4k earmarked for trading purposes $50 would be 1.25% gain.  Obviously, a 1.25% gain is in no way guaranteed.  In fact, this would be a 16% annual return.  However, as the portfolio grows, I save more and learn more about trading this will become a lower and lower monthly return.

October’s income goal was almost hit with one trade: on 10/4, I purchased $210 worth of Wells Fargo call options after writing about the company in my newsletter.  On 10/12, I sold the calls for $300, booking an $88 gain in just over a week.

The Goals

eBooks

This is and has been the goal I’ve spent the most time thinking about over the past few years.  The eBook combined with authority website model is attractive to me because I enjoy writing and have proven to myself in the past that I am capable of building a successful website.  Though I was a teenager when I ran my first website, which was a fairly long time ago, that site managed to produce 100k total page views and >$5k of income with no SEO, no non-amazon affiliate marketing, no eBook writing and very little strategy from myself.

So far I have written two eBooks.  The first had no marketing and has sold something like 30 copies, with two bad reviews.  The second came out a few weeks ago and nearly reached 300 (albeit free) downloads.  I have three ideas for the next book floating around in my mind and will make a decision in the next two weeks which one to pursue.

I will do this by writing an introduction for each and presenting the introductions along with pros and cons of each book to readers.

Affiliate Marketing

I have several affiliates listed on the resources page of the site and work one into the newsletter each week.  So far this has produced a grand total of 0 sales.  Of course, my high page hits day was 35, so I’m not fretting.  I will continue to find more affiliates and continue to find better ways to include them in good content.

Niche Sites

I think of niche sites development as the real estate investment of the internet.  The key here is to develop a high quality website based around a niche that is big enough to lend itself to tons of viewers but is small enough to not have a multi-billion-dollar corporation to compete with.  After production, the site is monetized with the usual advertising, affiliate sales and related products.

I have three ideas for niche sites at the moment and will begin work on one of them soon.

Long-Term Goals

Podcasting, Stock Picking Newsletters and Courses

The three of these are at about the same place in my business model.  All three would not be beneficial to spend time and money on until the site has more traffic.  All three will be integral parts of the long-term success of the business.

Advertising

At the moment there is no advertising on the site.  For now, I want to focus on creating quality content and not distracting readers with ads that will produce maybe four cents per month.

I will definitely utilize advertising on the niche sites I create and some point I will begin experimenting with them on the main site.  The advertising could simply be banner ads from already established affiliates, it could be google ads or it could be targeted offers in the newsletter based on the subscriber.

Consulting

I am working toward becoming a financial advisor.  This will allow me to, first, work with friends and family on structuring portfolios and retirement savings and eventually consult with readers of the site.

Long Shots

Uber Driving

I almost didn’t include this one as I can’t really see it happening.  I do want to try it out and at least get to the $100 total mark so I can write about my experience.  I just have too many other things I’m juggling for this to be a legitimate goal.

Lawncare Business

Those who read my book know about my obsession with Lawncare businesses.  I love the work, being outside, listening to tons of audiobooks, feeling the sense of accomplishment.  Really everything about it.  The problem is I don’t have a yard, any equipment or any real leads.  It’s fun to think about though.

Youtube Channel

What could be more riveting than 15 minute videos of me talking about investing stuff?

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