Short Story: The Truth About RESIDUAL INCOME
The story of two people who work the same job doing the same thing. But financially are headed in two different directions.
Andy and Sal work at an Engineering firm in Texas. Both Andy and Sal Make 100k in annual income.
Andy automates a passive investment that earn him a nice growing dividend every month. When Andy has free time he works on learning affiliate marketing.
Andy has planned out his next 5 moves with his free time.
1. Master affiliate marketing
2. Blog about what he has learned
3. Build How to YouTube videos of what he has learned
4. Create an online course
5. Use the revenue from his job, investments and online income to buy an 400 unit Apartment complex.
Sal on the other hand is just saving money in an account that earns 2 and half percent interested yearly.
Sal wants to buy that 7,000 SQFT home that is just couple house down from his friend’s 5,000 SQFT home.
Sal needs to come up with $150,000 for a down payment.
Sal hasn’t figured out his next five moves. He only knows his next three moves.
1. Save $150,000
2. Buy his dream home.
3. Out do his friend
Who do you want to be? If you said Sal then stop reading now! If Andy is your answer, then continue reading.
Passive Investing
Andy had set up a passive investment that earned him a monthly dividend.
What was he investing in?
These days it is easier then ever to setup a passive investments.
There is stocks, Bonds, IRA, Roth IRA, 401k, and many other investments that might make you some money.
But not all of those investment are going to pay you a monthly dividend.
Andy was investing into an equity fund called
American Home Owners Preservation fund or AHPfund.com.
Disclosure: with any and all investments, you are not guaranteed a return.
Keep that in mind when you decide to invest in anything.
Affiliate Marketing
Affiliate Marketing is not an easy way to make money.
It is saturated,
lots of scams,
competition,
and it will take time and money
to learn what you are doing and how to do it.
The downside to Affiliate Marketing
Most affiliates starting out just drive traffic directly to the offer. Yes you might get lucky! But luck doesn’t pay the bills.
Not knowing your audiences’ and where to find them. Presenting a Viagra offer to a 19 year old women, isn’t going to make you any money.
Spending money on traffic with no returns. Yes you are going to experience this. We all do.
Being unethical in your marketing will give you and your brand a bad reputation. In life, business and family your reputation will take you places or keep from going any where.
Not giving value to your audience will earn you nothing! Gary V. is a great example of how to do marketing give, give, give, give, give, and for a change of pace give some more. Then sell, sell, sell.
Not developing return business. The key to any successful business. If online marketing is like owning property.
Then you need to start creating virtual real estate, like email list, blog, YouTube videos, and a Social media following.
The Upside to Affiliate Marketing
The upsides to learning this skill, describe with one word is FREEDOM!
Earn money on command.
Grow passive income effortlessly.
Work where you want as long as there is internet connection.
Work when ever you want.
No dress code,
No boss,
No HR,
No more fighting traffic
The laptop life style is the life I want to live. I believe it is safe to assume you do to! If not please feel free to make an ASS out of me!
Blogging
Blogging is a great way to start growing a following with your content creation, and you can start with no money.
Just a platform like Blogger and some blogging ideas is all that is needed to begin.
Blogging gives you an opportunity to practice writing in manner to convince your audiences to click on your links.
In essences you are practicing copywriting and affiliate marketing at the same time.
This is a slow process to building a residual income. But over time if you stick and stay it will for surely pay!
Yes in the beginning you are going to suck at this just like anything else you have never done. But there is hope and that hope is YouTube.
A great person to follow is Neil Patel. He is in my opinion the best blogger alive today.
Blogging gives you content to share across social media platforms to grow your following.
Also you can turn a blog post into a YouTube Video and cross promote them both.
YouTube Channel
YouTube has over 2 billion people visiting everyday. Plus it is free to upload your content.
This is a no brainer for anyone looking to build their residual income.
There are two ways to earn on YouTube.
1. Monetize your channel. Allow YouTube to show ads on your video content.
You need 4000 hours of viewing time to be able to monetize.
2. Promote your Affiliate accounts,
online course,
articles you have written,
and whatever you sell on EBay or Shopify,
can start generating income as soon as you upload your first video.
All you need to begin is your Cell Phone and some editing software.
The editing software I use is Screencast O Matic.
it is free to use.
Full access to all that it is capable of is dirt cheap.
Like $40 bucks for 3 years kind of cheap.
Creating Your Online Course
Creating an Online course takes planning and well verse knowledge of what you are teaching.
I’ve heard that you should learn something so well that you can teach it. The best way to cement in the knowledge that you have acquire.
Keep this in mind when you are doing affiliate marketing.
In Affiliate marketing you will have to choose a niche. Weight lose, or making money.
By mastering one niche, you can now create two online course that can generate residual income.
This is compound learning and earning. Your Welcome!
The same tools you use for YouTube you can use to create your course.
Upload Your course to Udemy.com
Create two versions of your course first version is the one you upload to YouTube to advertise the paid version. Remember Give give and give. Then sell.
The second is the paid version with more advance information.
Real Estate Investing
Andy’s Fifth move buying a 400 unit apartment complex. Boy! This would be Life changing for you.
Like anything else it sounds simple. But it ain’t easy!
Real Estate requires a lot of capital to get started.
If you are generating a lot of income from the above then this is your next step in creating residual income.
But if you don’t have the money.
There is another way to start.
Find a local real estate investor, Invite them to lunch,
Ask him which zip codes he likes to invest in.
Find out if he pays a bird dog fee or if he would be willing to partner with you.
BANG you are now learning and earning in real estate.
Conclusion
There are other ways to create a residual income. If you must know them all Google or YouTube it.
The main point is that it ain’t easy no matter how simple it may sound.
Affiliate marketing in my opinion is the key to Andy’s Residual Income growth. Along with his passive automated investing.
Blogging, YouTube, and online course are just other forms of marketing your affiliate offers. While giving away lots of value and getting paid to do it.
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