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 the first figure out Okay like I already know a lot of different ways and strategies 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 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 as 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? The 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 ton 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 to 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 an I was reading some blah They were talking about peer-to-peer lending, which I don’t know. I’m not a huge fan of 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 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 to 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 to 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 are 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 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 video 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 may be 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 a 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 of 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 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 a 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 Guys 100% free here on this channel because I’m just I’m here to support you guys I’m here to help you guys with everything that you’re doing So if you guys like this video go ahead give it a thumbs up Also if you’re brand new here make sure you guys subscribe because we launch new videos every single week how to generate more leads make more money and Grow your business, right? So thanks so much guys for watching and I see you all later