- Hello once again, guys.
Welcome back to the channel.
I hope you're having a great day so far.
So in this video today, we're gonna be covering
the six different streams of income
that I've been able to build by the age of 26 years old.
Now, this is actually a remake of a video that I did
back in 2018 called How I Built Five Streams of Income
by Age 23.
Now, in that video, my five income streams
were digital products, YouTube, Investing Simple,
which is my personal finance blog that I own part of,
as well as affiliate revenue, and investments.
So here we are three years later
and some of these income streams are the same
while others are totally different.
And it's similar to that oil well analogy
from that very first video that I made,
talking about how income streams
are basically like drilling an oil well,
and you have to continue drilling new wells,
otherwise the ones that you drilled previously
might end up running dry.
So that's what's happened here with myself
is over the last couple of years,
some of those income streams or revenue streams
from the past aren't necessarily making me
a substantial amount of money today,
but that is why I have different revenue streams altogether,
and I continue building these out over time.
And of course we know that the average millionaire out there
has about seven different income streams.
So in order to make a lot of money,
you have to be diversified and making money
from many different avenues.
So that being said, here are my six income streams
at the age of 26, starting off with number one,
which is rental income.
So I purchased my first piece of real estate in 2019,
which was a three unit multifamily property.
And at the time,
I was an owner occupied real estate investor
following the strategy of house hacking.
Now, there was also a cottage on the property
when I purchased it that needed to be completely redone.
It basically just had plumbing and electrical
and nothing else.
So I ended up putting about 50 grand into that
and I remodeled that and turned that
into an additional rental.
So that effectively converted this property
from a three unit to a four unit multi-family property.
Now, when I made that video back in 2018,
I didn't actually own any real estate at that point in time.
So this is a new revenue stream for myself
that I didn't have back in 2018.
Now, since buying this property in 2019,
after making all of those upgrades to that cottage,
I went ahead and refinanced that property from an FHA loan
over to a conventional loan,
which significantly reduced my mortgage payment.
I also decided to fully rent out that property.
So now, all four units there are rented
and I actually have an apartment in New York.
My main residence is down in Miami right now.
That's where I live for most of the year
and for tax purposes, that's where I'm based out of,
but I do still keep an apartment in New York,
and it's pretty cool because the rental income
from that property pretty much covers my apartment rent.
So the mortgage on this multi-family property here
is $2,500 per month and the total income
from the rentals from those four units is $3,575.
So this property is now cashflow positive
about $1,000 per month.
However, in addition to that, it's important to remember
that my entire mortgage payment is being covered
by my rentals and I still have that surplus $1,000.
But out of every single mortgage payment,
about $1,000 goes towards the principal
or the amount that I owe on the property.
So that's really an additional $1,000 in my pocket of equity
in that property.
So owning this rental property
effectively makes me around $2,000 per month.
So the second income stream for myself is dividend income.
Now, I invested heavily into dividend stocks in 2020
after the pandemic.
And I had about a $200,000 dividend stock portfolio.
Now, I ended up selling most of that off
and reallocating that money into different investments.
I also put a lot of money into some more smaller cap
and concentrated bets.
The most noteworthy position being Genius Brands.
That's also the reason I have this beard here
because I decided I would be keeping this beard
until that stock hits $5 per share.
Now, obviously guys, that hasn't panned out just yet,
but we will see what happens here in 2022.
I am certainly optimistic.
But that being said,
nonetheless, I do still have some dividend stock exposure
through my investment in GLP or Global Partners.
So here's my investment in Global Partners.
Right now, it's worth around $51,500
and I am actually up overall in this position,
which is pretty awesome.
Now, this is actually a limited partnership
and they're involved in the oil and gas business,
as well as convenient store operations in the Northeast.
Now, the reason that I personally like this company
is because of their new Alltown Fresh convenient stores,
many of which have been rolled out in my neck of the woods
in Upstate New York.
So this is a pretty sizable investment
and my biggest dividend position.
Now, this stock pays a dividend yield of around 10%,
which is quite high.
So that means I'm able to make just shy
of about $5,000 per year in dividend income
just from this position right here.
And here you can see my most recent dividend payment earned
from Global Partners, which was $1,198.04
that came through on November 12th, 2021.
So this stock right here earns me four dividends
every single year amounting to roughly $5,000 annually.
Now, in the future, I do plan on allocating more of my money
into dividend stocks and most likely increasing my position
in GLP so I would expect to have this dividend income
becoming a more substantial part of my overall income
from my different revenue streams in the future.
So next up, we have to talk about
my third revenue stream here, which is the original one,
which is my personal YouTube channel
under Ryan Scribner here.
So through this channel,
I make money from Google ad revenue
as well as affiliates and sponsorships.
So if you haven't been following my channel
for a while here, guys, I actually quit my job
back in June of 2017 to focus full-time
on this YouTube channel.
However, over the last few years,
I've been really focused on diversifying
into many different online revenue streams
and some offline revenue streams.
That way, I'm just fully diversified.
And if something were to happen to my channel,
I would hopefully be largely unaffected
because I have many other revenue streams to fall back on.
So I've been doing YouTube now for over five years
and it's been a pretty consistent revenue stream
and things still seem to be on the up and up,
but I have always wondered if channels like mine
are built on sand pillars
where pretty much an algorithm change
could honestly stop your channel from being shown to others.
So hopefully, that doesn't happen.
And so far, it hasn't, which is honestly great.
So I can't actually share exact numbers
for what this channel brings in, revenue wise,
and that is because I might be closing on
a potential business partnership with this channel,
so I actually can't disclose those details right now,
but this channel does bring in consistently
over $10,000 of monthly revenue.
So the fourth revenue stream is one that was the same
from my video back in 2018.
However, this revenue stream has grown tremendously
since that video.
And that is the Investing Simple blog.
So back in 2018, one of my key steps in diversifying
across different business models
was building out this Investing Simple blog.
And I wanted to create this standalone brand
that really had nothing to do
with my own personal YouTube channel.
So the Investing Simple brand actually stemmed
from an Instagram page that I had purchased back in 2018.
I no longer own the page,
but I do still own 43% of this blog.
And I now have two business partners
involved in this venture.
And honestly, guys, this year, 2021, was absolutely insane
for this blog.
It honestly took a few years
to get this blog off the ground.
And there were multiple times when we didn't even know
if it was going to stay afloat
because there was a point in time
when this blog was actually losing us about $1,000 monthly.
However, over time, by adding more articles
and getting higher and higher domain authority,
we've been able to really compete in the finance space
and do quite well with this blog here.
So here's what the Investing Simple blog looks like.
We basically do a lot of articles
related to different investments.
We do reviews and comparison content, things of that nature.
Right now, the blog is getting around 2,500 hits a day.
And while I can't share the exact revenue numbers,
just because I have multiple business partners
in this venture,
I can say that this blog made multiple hundreds of thousands
of dollars in 2021
and I'm expecting 2022 to be an even better year.
So this blog here went from being a smaller revenue source
for myself back in 2018 to a much larger and substantial one
here in 2022.
So the fifth revenue stream here
is another YouTube channel that I also own a part of.
And that is the Investing Simple YouTube channel.
So initially, when I started this blog,
it was myself and one other business partner named Ed Canty,
who is a friend of mine from high school.
But we actually decided to bring on
an additional business partner to help out
with a couple of things,
one of which was the rollout
of the Investing Simple YouTube channel.
So we started this at the end of 2020,
got the channel fully monetized
in a very short period of time,
and now this is a decent revenue stream for us
to basically earn money from.
Essentially, we wanted to diversify a bit
and make sure we had many different forms of content
over on our blog.
So what we did is we took a lot
of our best performing articles and turned them into videos.
And then we're able to embed those videos
right into our blog.
Now, while this channel only gets about 1,000 views per day,
since it is in the finance space and CPMs are quite high,
it is still a pretty decent moneymaker,
not to mention most of the revenue from this channel
is earned from affiliates,
which is essentially where we earn a commission
when somebody signs up for a given brokerage platform
or investment platform, et cetera.
Now, this channel, I can show you the revenue for.
So let's go ahead and jump in
and I'll show you how much money this channel made
in ad revenue in 2021.
And here we have the Investing Simple channel itself here,
guys.
As you can see, it only has just under 4,000 subscribers.
It's really not a crazy big channel,
but it just goes to show you that these smaller channels
can actually be pretty decent moneymakers.
So over the last 28 days,
this channel has made about $540 in ad revenue.
But let's take a look at the entire year of 2021,
which was basically the first full year
that this channel was in operation.
So in 2021, just from the ad revenue,
this small channel here made $6,215.58.
Now, when you factor in the affiliate revenue as well,
this channel makes around $2,000 per month.
Now, lastly, my sixth revenue stream is my latest blog,
which is farmlandriches.com.
This is a blog that I launched myself at the end of 2020.
This year, I actually took on
some strategic business partners.
So I now only own 30% of this blog,
but we have been able to scale it up quite substantially
so it has had that trade off
where even though I own less of it,
it is making a lot more money.
So earlier in 2021,
this blog was earning around $2,500 per month,
but we've been able to roughly triple that
in the later part of 2021 and into 2022.
And even though the site only gets around 12,000 hits
a month, it is still a huge moneymaker
because it is such a niche specific blog
covering farmland investing.
So this blog is totally related to investing in farmland
and it covers a lot of different ways of doing this
and reviews many of the different online farmland investing
platforms.
The site is monetized by affiliate links
as well as a site-wide sponsor.
So here's the Farmland Riches blog here, guys.
If you wanna check it out,
there's going to be a link down in the description below
to this blog as well as investingsimple.com.
If you are looking to learn about farmland investing,
not to toot my own horn,
but there are a lot of really awesome resources over here.
But at the end of the day,
it's really a pretty simple blog here
with only about 40 articles,
but it does has so far been a pretty decent revenue stream.
So anyways guys, those are my six revenue streams right now
in 2022 at the age of 26.
So obviously, guys, some of those revenue streams
that I had in 2018, such as digital products,
are no longer a major revenue source for myself.
And that is largely just because of the fact
that it's really not my favorite business model.
I much prefer making money from blogs
and affiliate revenue and things like that.
Now, of course, I'm going to continue building out
different revenue streams in the future
because going back to that oil well analogy,
you never know when a given revenue stream
is going to dry up.
So you always wanna make sure
you have multiple revenue streams.
That being said, I don't think I'm going to be buying
any more rental properties.
Overall, I have found owning real estate
to be quite a headache, honestly,
and it takes a lot of my time away from my businesses,
whereas if I was just focused on my business
versus messing around with managing real estate,
I would probably actually make more money.
Now, in addition to diversifying my revenue streams,
I've also been diversifying my investments
across many different assets.
And one of the largest investments I've made
over the last few years is a few investments
into some startups.
Now, four of these startup investments
are in the FinTech space and one of them
is in the cybersecurity space.
So I've made a total of five startup investments.
Now, I can't share exact valuations with you guys,
but what I can tell you is that I invested about $100,000
across these startups
and a few of them have grown substantially
in their valuation.
So now, that investment is collectively worth just shy
of 500,000, which is quite awesome.
However, this is a startup investment.
This is not a liquid investment.
And obviously, they're gonna have to be acquired
or have a public offering in order to have an exit,
but I will certainly keep you guys posted
on how that is going.
If you guys wanna see a full video
where I go through my different startup investments
and share as much detail as possible,
let me know down in the comment section below
and also drop a like on this video.
If enough people are interested,
I will be sure to put that video together.
But anyways, guys, thanks so much for tuning in.
I hope you enjoyed this video
and I hope it's also been motivating
as far as how it may take a couple of years,
but you can, even as a younger person,
build up multiple revenue streams,
especially leveraging online businesses.
But thanks so much for tuning in, guys.
Make sure you subscribe and hit that bell
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And as always, I hope to see you in the next video.