Australian (ASX) Stock Market Forum

Passive Income

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Howdy all,

Just wanted to kick off a topic about passive income. Basically looking for idea's etc - and whether people have any coming in/experience in this area.

Cheers!
 

tech/a

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Howdy all,

Just wanted to kick off a topic about passive income. Basically looking for idea's etc - and whether people have any coming in/experience in this area.

Cheers!
Property both Industrial and Domestic.
Business is set up so I have a passive income when I take extended periods of leave.I will eventually be a silent partner in my own company with a passive income.
Looking into an Internet based passive income generator.
Trading adds to the investment portfolio.
 

prawn_86

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At the moment we have a small passive income coming from interest, dividends and online websites.

I also like the idea of being a minor partner in businesses and letting others do the work (obviously need to trust the owners etc)

Will maybe look at property later down the track
 
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Property both Industrial and Domestic.
Business is set up so I have a passive income when I take extended periods of leave.I will eventually be a silent partner in my own company with a passive income.
Looking into an Internet based passive income generator.
Trading adds to the investment portfolio.
At the moment we have a small passive income coming from interest, dividends and online websites.

I also like the idea of being a minor partner in businesses and letting others do the work (obviously need to trust the owners etc)

Will maybe look at property later down the track
Thanks for your replies. I too am thinking in the way of the internet and some web based generation of incomne - Prawn what do you mean when you refer to websites?

I wish I could sing or something and receive continuous royalties for the rights of my work!

Cheers
 

So_Cynical

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I noticed one of my watchlist stocks is planning a rights issue of convertible (for 3 years) redeemable, perpetual, unlisted preference shares paying 9% fully franked on there issue price of 0.30

Seems a reasonable passive income...as long as the company stays in business.
 
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Looking into an Internet based passive income generator.
At the moment we have a small passive income coming from interest, dividends and online websites.
I have a few ideas for websites that i am keen to explore further. tech/a what sort of things do you have in mind?

Prawn, how did you go about setting your websites up? Did you do it yourself or get it done by a professional? What is the best way to go about setting up a website if you don't know much about how to do it?
 

tech/a

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tech/a what sort of things do you have in mind?
Its something the babyboomers I believe would embrace en mass.

So its a new idea.
simple and I cant think why no one has thought of it.
Early investigation by copy write attorneys indicate the same---nothing---yet!
 

prawn_86

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Prawn what do you mean when you refer to websites?
Check my signature links for examples. Nothing major, just a bit of a hobby that may/should build into a little passive income


Prawn, how did you go about setting your websites up? Did you do it yourself or get it done by a professional? What is the best way to go about setting up a website if you don't know much about how to do it?
The benefits (and competition downsides) of the web its its so cheap and easy to start a site. If you are tech/programming minded a few hours reading and you will be able to set up a basic site. Otherwise if you cant be bothered plenty of cheap services out there to design host etc a site for well under 1k (depending on what your after obviously).

Feel free to PM me if you want further details, dont really want to bore with too many intricate details in this thread
 

TraderPro

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Nice travel website Prawn! How long has that forum been going for?

How did you manage to get that forum jump started with people coming and contributing?

That's the one thing about websites - easy to put up but hard to get people to come and contribute stuff.

JTLP: Passive income has a nice ring to it - making money passively without doing anything? But the truth is nothing is free and any income stream: property, interest, bonds, shares (via dividends), internet websites all require a lot of (smart & hard) work.

The advantage of passive income is that there is potential for residual income - do a lot of work now and the money keeps rolling in as time goes by. Different from "active income" when you need to go to work, put in X hours and you get $X money back.
 

prawn_86

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Nice travel website Prawn! How long has that forum been going for?

How did you manage to get that forum jump started with people coming and contributing?
It's been up for about 2 yrs, but its a hobby so i only spend time on it when i get a chance (not as often as i would like).

Basic promotion and SEO has got it to where it is at the moment. But to be honest it is no-where near the level of traffic or posts i would like it to be so i really need to put more effort/money into it. At the moment im working on a world map for the homepage so that will give it a bit of uniqueness
 
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It's been up for about 2 yrs, but its a hobby so i only spend time on it when i get a chance (not as often as i would like).

Basic promotion and SEO has got it to where it is at the moment. But to be honest it is no-where near the level of traffic or posts i would like it to be so i really need to put more effort/money into it. At the moment im working on a world map for the homepage so that will give it a bit of uniqueness
Interesting. What is the amount of traffic you need to start to turn a profit over?
 

prawn_86

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Interesting. What is the amount of traffic you need to start to turn a profit over?
Depends on the website. Is it a service website or do you sell an actual product. Numbers will be vastly different for either approach
 
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Prawn out of curiosity are you running a ready php solution such as oscommerce or you created the code?
 

prawn_86

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Prawn out of curiosity are you running a ready php solution such as oscommerce or you created the code?
Both websites i have run are off of packaged programs. I can build basic databases etc, but prefer ease of use of a customisible out of the box solution
 

prawn_86

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Thought i would ressurect this thread.

What are members currently doing differently to generate passive income? Has the prolonged global economic downturn affected anyone? Obviously those holding cash are now earning less due to IR decreases.

Personally i am going to invest quite heavily into my websites over the 12/13 financial year and i have a goal of getting my passive income to 10k pa, within 2 years (not solely from the websites)
 
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Basic promotion and SEO has got it to where it is at the moment. But to be honest it is no-where near the level of traffic or posts i would like it to be so i really need to put more effort/money into it. At the moment im working on a world map for the homepage so that will give it a bit of uniqueness
If you don't mind me asking could you please clarify basic promotion?

We currently rely heavily on facebook ads as it's a great way to target our demographic. We have also tried adwords, and a little magazine advertising. Would love to hear of any experiences you have had, and what has worked best for you.
 
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