Action is better than words when it comes to making money
One primary reason that people fail to make money is they never take action. They talk about it, dream about it, watch videos from other people. However, they never take action. The main reason for not making money is the lack of action. Take action, and something always happens the better.
There are several ways to make money
These are my top 10 ways to make money.
1.Real estate is one great way to make money. I lease a portion of my residence to my company. So my company pays me a market-rate lease. I have a 3000 square foot house, so 750 SF is dedicated to running businesses. The space I use is leased to my company at a rate of $2000 a month; So that’s a $24,000 a year rental income. That’s 100% passive income.
2.Other Properties are managed by family members. They pay no rent but they manage the properties and collect rents from the part of the houses they do not live in. I collect a net of about $1500 a month or $18,000 a year in passive income. My cost on these buildings is about $150,000, and I have zero debt, so my return is 12% per annum. In the last 4 years, I have returns of 48%. That’s 48% net profit over 4 years.
3.Books royalties how to create money in the asset recovery business which I have been in since 1985 and have written several books. My average monthly income on these royalty streams are around $20,000 a month or $240,000 a year.
4.Two heavy-duty trucks produce about $700 net cash to me a month. I pay nothing for the repairs on these trucks. The men that drive them to pay all the expenses. So I take a flat fee every month regardless of how much work they do. That comes out to about $8500 a year.
Publicly traded companies
5.Have an interest in publicly traded companies Apple Computer, GM, and Ford. I trade in and out of several stocks mostly big tech stocks like Alibaba, Microsoft, Amazon, Facebook, Tesla, JP Morgan Chase, Citicorp, and Bank of America. Not a good trader but managed a meager 5% on $50,000. I still retain Apple at an 18% paper profit. Returns of 73% on Ford and GM year to date.
6.Social Security is $2400 a month for a yearly net of $28,800.
7.Dividend income from stock ownership was negligible this year because. I always reinvest back into buying more stock. $2,000, but could have been 10X If I only held my stock positions.
8.My Money lending business mostly ends up with family members. I don’t recommend it since you can’t repossess things from family. My past money lending ended up with me owning companies. Therefore don’t money lend unless you’re prepared to own businesses you do not want.
9.Not all assets I bought this year produced income. Artwork bought from a gentleman that had to leave town and needed the cash. I keep ample cash I was able to acquire paintings with a market value of $10,000 at a cost of $500. A Persian Carpet valued at about $2500 for $200. Since I have no interest in selling these assets I will not book a profit but it is important to have ample cash because nice fat deals come across my path every so often for big returns on little money.
10.Savings produced very little income. Goldman Sachs savings will net you 2%.
All these income streams originated from my decision to work for myself 35 years ago, and I am still working for myself today, except most if not all of my income comes in the form of passive income.
The moral is by taking action and failing but learning on a daily basis I have been able to amass millions of dollars in income-producing assets and I continue to expand that income yearly, all from the comfort of my home in North San Diego County near the ocean and so can you.
Take the next action step and join me in learning how we can produce income working from home, and build our wealth slowly with little risk over the long term. Money is earned daily through a slow steady upward progression over time.
Mike Addis, Carlsbad California, all rights reserved