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How To Make Passive Income (2019)

May 01, 2020
Welcome back to Whiteboard Finance. My name is Marco and I am here to help you master your money and build your wealth. Today we are talking about seven ways to

make

passive

income

in

2019

and the reason I decided to create this video is because I have received so many comments from people in my comments section about how do you know that your videos are only for people who

make

a hundred thousand dollars a year, the average person can't do this, my

income

is too low, it doesn't apply to your videos, so the reason I mention this is because I understand that when I respond to those people and say: "hey, You know, I have a video that talks about how you can earn extra income, they always inevitably respond, you know?” I'm already working 55 60 70 hours a week and I can sympathize with that.
how to make passive income 2019
I understand that many people have already reached the limit of their working capacity over time, so I thought what would be a better video than to create a video talking about

passive

income to literally make money while you sleep, okay, so full disclosure. I am NOT a fan of the phrase passive income, the reason is because it has been beaten to death by all these internet marketers and all these gurus who sell these pipe dreams to the naive. people talk about, oh, you can have mai tais on the beach with the little umbrella and the drink and you know you're going to get thousands of dollars a day because you don't do anything, so that's not the case at all.
how to make passive income 2019

More Interesting Facts About,

how to make passive income 2019...

Passive income is not passive in First you have to work for it, so these seven ways and I implore you to watch the full video because some of them have to do with digital products, some of them have to do with tangible products and I know that There are a couple of different types of There are personalities who think I can never do digital, but I can definitely do something like real estate, for example, so look at these seven ways. Number one is obviously common sense because you're watching me right now and that's YouTube. So what is YouTube?
how to make passive income 2019
YouTube is the second largest search engine in the world, the first being Google. Oh, and guess which Google owns YouTube, so you're dealing with the two largest search engines in the world when you decide to start a YouTube channel. Okay, that's YouTube. What works is that there is a revenue split, so you get paid through ads, so the ads that play at the beginning, middle and end of this, sorry, this video is split with Google and the Creator, okay, then I get half. Google gets half or it's about a 55/45 Split, okay, so think about it. YouTube and Google have the platform.
how to make passive income 2019
I'm someone who provides eyes to that platform, eyes to advertisers, it's no different than when a radio station sells advertising space to its listeners, so they compensate us through ads and the reason I want to talk about YouTube It's because in

2019

if you have an internet connection you can make money, there's no excuse because you guys are just holding back in real estate, we had this phrase that says there's a butt. Well, for each seat we set it up a little differently, but I don't want this video to be demonetized with bad language, but there is a butt for each seat, so if you know something about something, whether it's gardening, I always use the paragliding example. left handed puppets if you want there is definitely a viewer for those videos believe me there are seven billion people on this planet and most of those people right now have an internet connection and use YouTube daily so be it whatever, you're good.
Whatever you know, I implore you to start a YouTube channel about it, so the advantage of the YouTube channel is that it's like a little oil well, so that's part of my terrible art here, but imagine that It's like one of those. Oil wells that have a little hammer and they're digging for oil and they shoot through the ground, it's the big Texas boom and that's nothing like an oil well, but just use your imagination here, so the beauty of YouTube is that you create a video. once and you're no longer trading your time for money like you would with a nine-to-five job.
I have videos that are a year and a half old that still make me money to this day, although it's not life-changing money. but there's definitely still money coming in for doing literally nothing, it's doing the work once and reaping the benefits, and some of the downsides of YouTube are that it takes time to build an audience and an audience of people who actually like to know. and trusting you in that way to keep coming back to your videos, so that's what it's all about guys, staying in line in the digital space, if you want to be number two, it's something that works if you're a really good marketer or Yes You are someone who already has an audience, so this may not apply to many of you, but membership websites are fine, so let's take someone who is a famous baker or chef and has the best recipes in the world and created an audience, whether it's on YouTube or on your blog or on any membership website, which is beautiful because the advantages of it are that someone pays you monthly recurring income to have access to your content.
Well, let's say he is the best chef in the world. and your recipes are so good that you know someone is going to pay five dollars a month, ten dollars a month to have access to those recipes. That may not seem like much, but if you have a large audience, imagine a thousand people paying you $5.00. per month, you just created a $5,000 per month income stream and you're only doing the job once right, so you create the recipe once you let your group know they're coming back; However, membership sites are kind of a double-edged sword because you have to keep creating new and fresh content to keep your members in the group.
If you are in the group and the person does not update the membership site, you will most likely cancel your membership, so that is one of the disadvantages of membership. So this model is powerful if you can attract a lot of eyeballs and a lot of traction to your membership site. The third is in a similar vein and that is creating a digital product. So what is a digital product? A digital product can be something that's very low-end, meaning you're not spending materials and time and all those different things putting together little widgets each time like you would if you're selling shoes, for example, or something like that.
A digital product is beautiful because create it once, okay, so this could be an ebook if you want to stick with the gardening or cooking example. Now, this famous chef who has the membership site, creates a cookbook, creates the cookbook once, but sells it over time and over and over again and if it's on an online platform you can buy all 24 365 hours a day, 7 days a week, 365 days a year, so they can actually be on that beach drinking mai tai, they check their phone. Wow, look John Smith bought his cookbook for $10, for example. A digital product can be anything, from an e-book, it can be anything you create, say, for example, my home affordability spreadsheet.
I gave it away for free only because I want to build credibility and value with my audience. I could have easily charged five ten twenty dollars for that spreadsheet that took me about an hour to create, if not a little less, and I could have easily made like I said five ten twenty dollars every time I sold it, but I chose to give it away. The pros of this or that is that there's very little overhead, there's no materials, it's really all digital and the cons are essentially that it's a lot of upfront work to create the book, create the cookbook and create the spreadsheet, but one Once you do it, the money keeps coming.
Okay, so let's talk about number four. Number four will be similar in that we are going to create an online course, so the online course, as opposed to the membership group, is a course, it is the same as creating the digital product. time up front to create at once and that way it continues to sell over time, so what I may consider doing in the future and I've gotten really good feedback on this is creating an investing course on how to invest in stocks and things like that I can do a one-off course, charge a fee for it and if you have enough audience members or if you know how to market really well, you do it once and it passively makes you money over time.
Well here's the fifth and final digital way to make money and it doesn't necessarily have to be digits but that's mostly the space and that's affiliate marketing okay affiliate marketing so many of you have probably heard this and this is going down the slippery slope of these online gurus. successfully selling passive income dreams, however again this all goes back to you know if you have an audience or if you know how to market properly with Google AdWords you can easily make money selling other people's products so imagine and affiliate everything that really is an affiliate. is a commission seller so I sometimes make money from the affiliate links in my description below so every time I recommend a book to you that I truly believe has helped me every time you click on the Amazon link that It basically places a tracker like a cookie, it is not harmful.
There's nothing wrong with it and it doesn't cost you any extra, but Amazon knows that when I refer you to Amazon and you make a purchase, I receive a small commission from any purchase, so if you want to support the channel use the links in my descriptions. then compensate me for those, it is not life changing money and does not affect the cost of the product for you; However, this can really add up over time, so let's say for example, audible is one of the things I recommend because you get two for free. audiobooks for signing up and I get a commission of, I think, five or ten dollars every time someone signs up, so it's a win-win situation every time I recommend a book like The Richest Man in Babylon or Total Money Makeover by Dave Ramsey if you sign up. for Audible you get those books for free and I get a commission so affiliate marketing can work for pretty much anything any site that has an affiliate program there are a ton of ways affiliates get paid and this can be extremely powerful please.
Dude Ryan Scribner, he has a great financial education YouTube channel, he's crushing it right now with affiliate marketing, okay, now for these people who are okay, you know, I've seen all these digital methods to make money, let's do it. something that I know is a little more realistic for me. I'm not going to create a YouTube channel. I'm not going to create a course. This is one of the best ways to build wealth and get rich, and that is dividend investing. Okay, so I'll do it. just call it a dividend stock, so dividend investing is ultimately owning a stock that pays a dividend, obviously, you know that sounds like a no-brainer, so how does this actually work?
Say, for example, I'll only use this for easy numbers. Don't know. everyone has $10,000 lying around if you have $10,000 and you buy on this stock an annual dividend that means you get basically four hundred dollars a year without doing anything because this company every quarter pays essentially one percent, okay, one percent times one hundred, that's one dollar four hundred times 100 shares, excuse me four times . 100 shares is four hundred dollars a year, so I know I went over it a little bit quickly, but the beauty of it and I'll get into an in-depth video about dividend reinvestment and all that, this is really quick to show you what it's like. passive income these hundred stocks can not only go up and down in value with the stock price but they are always wasting $400 a year companies can increase their dividends they can reduce the dividend but let's say it's flat for this example the beauty The important thing This is that without touching anything or investing more money than you already have each year, if the stock price stays the same at $100 per share, as we have determined, you can buy four more shares per year through a reinvestment program of dividends which is called a drip program, which means that this $400 is used to buy four more shares at one hundred dollars, so now you don't own one hundred shares, you own one hundred and four shares, wasting four hundred and sixteen dollars a year and then you take those four sixteen. and you buy four more shares to have 108, for example, and that obviously assumes that if the share price stays at $100, you will be able to see it over time, especially if you add money on top of that $10,000 dividend, the shares They are a great way. to earn passive income and many investors base their entire retirement portfolio on dividend stocks and many people put them into a Roth IRA where the value of the shares actually grows tax free over time, so excuse me over timeso you can see how shy investing is super powerful and now finally the seventh way you can earn passive income is obviously through one of the most powerful wealth creation tools ever created and that is real estate, So there are many ways that you can invest in real estate that you can have. rental properties, okay, these can be single-family homes, you can invest in a syndication, so this is where a group of people pool their money to invest in a really big apartment building, let's call it 300 units, 300 apartments, there are, there are , there are, there are, multifamily, there are, commercial, there are industrial, retail, restaurants, mixed use, a million different types of real estate that you can invest in and they all have different risk profiles and also different returns, especially if you are talking about Class A Class B Class C and obviously it depends on the location, so everyone is attracted to real estate, especially single family homes, because that's what they know, what they're used to.
Many people have lived in a single-family home at some point in their lives or lived in an apartment, so they know what that's like. You know that your typical investor is going to gravitate toward a rental property, so the advantage of real estate is that if you know how to systematize the business and you know how to look for good tenants, this could really become a good passive mailbox, money, passive income stream, however, real estate, the other disadvantage is that it is not passive, okay, unless you have management in place or you have systems in place or if you have economies of scale, it is very difficult to manage, You know real estate yourself, it's okay to turn it into a real business, which is why many people are attracted by the appeal of rental properties, although they may not know the headaches that come with it.
However, another truly passive model is real estate syndications and this is what I am considering investing in in the future. These syndicators are people who put together a lot of money and make the down payment on a much bigger, much better, much easier one. property managed as a 300-unit Class B apartment complex in Austin, Texas, for example, they are looking for hot markets, they are looking for apartments that are recession resistant and all you have to do is invest twenty-five fifty thousand dollars, which far as I know. that's a lot of money, I'm not saying it isn't, I'm just saying it's a truly passive way to get money out of the mailbox every month or every quarter and not only that, at the end of five to seven years is when the investment is typically made.
It turns out that you get the money back that you originally invested and you also know that eight ten twelve percent, obviously you can lose your money too, but this syndication model and being a limited partner in commercial real estate is by far one of the ways easier to collect a quote. No quotes, mailbox money, so that's the seven different ways to make passive income in 2019. This was a mouthful and it wasn't easy creating this video because I was out of my head during the whole process. I hope I have provided value. and I hope I explained it clearly and I hope you stayed until the end.
If they did, that really means a lot to me. It would mean even more if you share this video with a friend. Thank you all very much, we are at ninety-eight. thousand subscribers at the time of this recording. I hope my next video with you is in the six figures and I really appreciate each and every one of you. Thank you very much and have a prosperous day.

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