How to create passive income for dummies if you're starting completely from scratch and have absolutely zero money
So today guys
I want to discuss some different ideas and thoughts and concepts of passive income how you can create passive income
This has actually been something that has been on my mind for like the last week and a half
So this weekend I was on I was reading tons of blogs. I've just wanted to like first figure out
Okay, like I already know a lot of different ways and strategy to create passive income
But I was like, there's got to be other ways that I'm missing
So I always like to look out and see like okay in five ten years from now, okay
Is what I'm doing today gonna get me to the point where I want to be in five to ten years and if it's not
Then I like to readjust sorry situate and then just kind of move forward from there
Okay, so like actually one of my mentors he had this really good comment that I've always remembered
I've always really liked and it was in in five years or 10 years or 20 years or whatever it is
Okay, no matter what. There's one truth and you're gonna be in ten years. You're gonna be ten years older
Okay, so doesn't matter like what you do, you're always gonna be ten years older
So it really depends on what you do today
This is going to change the course of where you're gonna be in ten years from now
So passive income or residual income basically a quick explanation
Definition is you're not trading time for money, right?
Like you obviously got to go put in some hours and some work to actually get to that point where you're creating passive income
But it's something we're like you can do the work once okay it or invest the money once and then you're paid out long-term
Over a longer period of time so I was just kind of like thinking about that. I'm just like, okay
What like what number what I have to get to if like I was living my dream lifestyle
How can I go through and create passive income to get to that point and the thing is guys with this?
This is not a get-rich-quick. This is more of the long-term
and if you're slowly building like if each year you add another five hundred dollars or even a thousand dollars of passive income to your
Life then think about that if you're doing a thousand dollars every single year, it's really not that much
But after ten years you're having ten thousand dollars per month of passive income coming in
So at that point honestly like I mean, that's a six-figure income. You can literally quit your job
You can do what you really love. And so that's what I like kind of mentality that I like to think of like
Okay, what's that number?
I need to get to and what are the things that I need to do to be able to get to that passive income?
Number that I can just live a completely carefree life
They don't have to worry about you know
financial things and money coming in and I could just do what I
love right like you can go through and start a new business you could go and you know have a passion or hobby or any
Of that stuff. So just a couple of things that just a couple of examples of different passive income
So one thing like you hear there is the term residual income
One thing that I think of always is network marketing multi-level marketing. So you've got like the big companies like Amway Nu Skin
There's a tons of other ones out there, which I don't, you know, I don't necessarily focus on that
But another method is going through and investing in real estate, so it could be residential real estate
It could be commercial real estate. It could be you know storage units
It could be billboards where you go through and let's say you go and buy a single-family home
Right or even in a multi-family home and you pay you know
Let's say it's a $200,000 home
And your mortgage on that is let's say a thousand bucks and you're able to get fifteen to eighteen hundred dollars a month rent
Then you're making the difference. Right? So like no matter what you're doing
You're making five to eight hundred dollars and obviously a lot of us can you know?
Not a lot, but some of that's gonna go towards taxes
Some of it's gonna go towards like repairs and upgrades and just keepin kind of like all that property management stuff going on
But you know
you're making a good five hundred dollars of passive income that you're making that only because you've
Invested that money now as I was thinking about all this stuff
One key concept I was thinking was like one
Not everyone's got you know 100 200 thousand dollars to go throw into real estate
And yes, you can go through and you can get started with no money down
There's a lot of different like plans and strategies
but I was trying to figure out like things that you can get started with with very little money or even
started with with no money
But might be more of a time investment because pretty much what I've learned is everything in life you either get there
faster via
money or it's gonna take a little bit of time of your personal time your sweat equity of going through and investing that time into
Some sort of business to get that investment get that return on that investment. Right? So I've got real estate
You've got kind of like that network marketing. There's a I was reading some blah
They were talking about peer-to-peer lending, which I don't know. I'm not a huge fan on that
I'm probably kind of more of a skeptic on that but there's a site that they talked about
It's called Lending Club calm so you guys can go check that out
I actually didn't go check that out
but on some of the sites I was reading they said you can get about a six to ten percent return on your money and
You can invest as little as a few hundred dollars or even a thousand bucks
So if you got kind of got less money and you want to go through and go do that route
Then obviously that's something you can go through and make happen also investing in stocks
But one thing guys, I want to share with you guys. What I
what I think that I want to go through and continue to grow and continue to do and
Creating that passive income for my life and something that like in five to ten years
It's still gonna benefit me and I don't have to have the high cost of even property tax like real estate or you know
It's gonna be something that can serve me for years to come and that is going through and continuing one
To build my youtube channel. So right here that you guys are watching and then second
I'm thinking about starting a blog to go through and have similar content that I like share on the blog or
Share on my youtube channel
But put it on the blog because sometimes people like to watch videos other people just more like to read or like to look at
pictures and so kind of having those two aspects to be able to go through
And make money and grow my email list
Okay
Cuz an email list is actually something that can create a lot of passive income
Where you go through you start build an email list if you get a thousand people on that email list
And you've got a product you got your own products. You've got affiliate products
So affiliate product is basically someone else's products
but they'll pay you a twenty-five to fifty to seventy-five percent commission to go through and promote their product which is kind of nice because
You don't have to worry about the product development and their sites like Commission Junction
Clickbank where there's tons of products in all these different markets that you can go through and promote now the reason why I like a
blog and I like a YouTube channel so much this goes back to when I was first getting into old digital marketing space and I
Started up a dental website and promote that dental website. I started a dental YouTube channel. Okay, and this is dead YouTube channel
I was going through and targeting keywords
like dental implants teeth whitening cost of dental implants like all these different keywords and
The idea was to have people find my videos because they were searching on YouTube or Google or something like that
find the videos and then they would eventually go to my blog now the wonderful thing about this is unlike a
Facebook post or even an Instagram post which those are both great platforms to go through and build a following on but
You make that Instagram post and three days later. It's so deep in the newsfeed that it's really not gonna benefit you
Okay
Whereas if you go through and make a youtube video just like this one or if you make a blog and you have a blog
Post and you're targeting specific keywords
So like for example this one how to create passive income for dummies and 20:18
Then that's something that people are gonna actually type in the search engine
Okay
And then in five years ten years and all that stuff from now if it's ranking in the search engine
People are still gonna find that
Okay
so that is
Passive income that you go through and you're able to make so you go through that basically is an asset that you have
That absolutely never dies. Okay, so like unlike I kind of call that virtual real estate, right?
So you've got a blog post which is kind of like a plot of land
Okay that you own or a YouTube videos like another little plot of land that you own
And if you guys put ads on it or if you go through and you have you know
An opt-in to your email list and you're selling other products
These are just different little ways to go through and monetize this following and this blog that you're creating
And remember guys like you got to think a long term
Right so many people get into it and they're like I didn't make money the first month
I didn't make money the second month the third month and they just kind of quit
Whereas like if over the course of a year
You could just make an extra 500 bucks a month you grow that 500 bucks a month
That's six thousand dollars for the year, right? That's pretty nice
That's like that is a that's a hefty car payment right there five hundred dollars a month. Okay, so
that's the way you just kind of got to think about this passive income and these different strategies where you don't have to have a
Ton of money to go through and invest into real estate, but if you put in the sweat equity the labor
Go through and figure out learn a skill like how to go through and start and grow a YouTube
Channel how to go through and start and grow a blog how to go through and start building an email list and sell
Affiliate products just different things like that
there's so much free material all over the internet on how to start a blog how to start a YouTube channel how to start an
Email list how to go through and promote
Affiliates products because a lot of times the product owners if you are an affiliate
They have a ton of free coaching and free training just to give you because they want you to promote their own products
right, so
It's a great way to go through create a video
how to
whatever, okay, and then five years down the road if someone's looking to go through and how to create passive income or how to
Run a Facebook ad or how to do whatever they're gonna see that same video that you ranked
So many years pass like I've got videos that I put up in
January of this year because that's when I started really getting serious with my youtube channel and now they've got about
30,000 views whereas that first day or those first two days. They maybe only got like a hundred maybe two hundred views
Okay
So it's just all that attention that builds up and you're able to go through and create passive income in the last six months
I've been able to grow this YouTube channel to making about twelve hundred dollars a month a passive income. So
Just think about it. I mean obviously that's a little bit quicker than most people because I've got somewhat small Channel still
It's about 8,000 subscribers twelve hundred dollars a month. Whereas I know other people who have bigger channels than I do
like I've got a friend he's got a channel with 300,000 subscribers and
he's only making about three thousand dollars in passive income and that's because the audience is just different right so
He's going after an audience
That is just always on YouTube and they're just kind of like watch it seen all these different ads
Whereas like the audience that I target is more business owners
You know real estate agents is people that are a little bit higher quality
Of value to YouTube and to advertise when they're going through and displaying their ads
So anyway guys hoping this was helpful as far as like some different ways to go through
And create passive income for your life and just think of that long-term mindset
Okay, in five years in ten years in like 15 years. What can you do this may be adding?
$100 a month a passive income to your life
So you're adding $100 a passive income every single month by the end of the year after 12 months
You're at 1200 dollars a month a passive income. Okay, and yes, it's not completely replacing your full-time job right now
But give it a couple years give it three to five years and that completely replaces your full-time income
where if you wanted to quit your job and focus a hundred percent full on on
You know creating a YouTube channel or creating a blog or any of these different things
You go through create that passive income and then the money you're making from that you can go through and invest into real estate
You can invest into stocks you can invest in just a bunch of different things
But the key is you just got to start small
You got to start somewhere and the best time to start is right now because you know if you go down five years from now
Then you're like man. I should have started creating passive income because believe me at some point
There's gonna be a time in your life or you're like man
I wish I had more passive income when you get to be about 50 55 60 65
And you're thinking about retirement you're gonna wish that you had started earlier of creating that passive income
So that you can go through and support your lifestyle what however grandiose you want it to be or however just small and simple
Just be able to have that money coming in so you don't ever have to worry about finances ever again
alright, so
you know you guys if you guys enjoyed this video and you want me to make more videos about creating passive income and how to
Do it with a youtube channel or a blog or different things like that
drop a comment down below or
Even just kind of even building an email list and I'm more than happy to create more videos of how I've gone through and created
Different passive income streams for myself and my life my business and I want to be able to go through and share those with you
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