Tuesday

Passive Income

I read a book called "Why we want you to be rich" written by the guy who did Rick dad, Poor Dad and Donald Trump. Great book definitely recommended. It talked alot about passive income and leveraging other peoples time. Long story short, I was inspired. I also came to the realization that I would be "salary capped" while in the military if that was all I did and that would mean that all these "someday dreams" that I have wouldn't come true. I really would like to go heliskiing for a week, I would like to buy a new truck without paying for it over 72 months, I'd like to buy a rolex without depriving my children of clothing.....you get the idea. SOOOoooooo....I went out and bought another house. 6 Days after I took possession, I had renovated it for renting and rented it out. My water bill during the gap was $1.37 to give you an idea of how fast it went. Now someone else is paying the mortgage, utilities, insurance and property taxes, plus I get about $75 on top of that. This means that around $4800 goes towards equity and $75 towards cashflow. I realize there will be upkeep over the years but I don't think it will exceed the net revenue + appreciation of the house. Enough about that.
Second, I am developing a board game which Maria and I have played several times to work out the bugs. Who knows where that will go but it's fun to develop and may eventually lead to income.
Third, I am now the proud owner of an online travel booking site similar to Travelocity. Please have a look and let me know what you think. http://www.ytbtravel.com/ytbbabyduck I think you'll find the prices to be the same if not better than you'll find on orbitz or travelocity and I plan to give 10% of my commissions to Support our Troops. I am also tapping in to "online marketing" through self study. Beeps and squeeks but the long and short of it is that I pay google a monthly advertising fee and they put my advertisment all around the internet specifically tailored to people looking for travel. That should result in interested parties getting to my site. Anyway, we'll see. It was a minimal investment and it will be a great learning experience for me in the internet age of technology.

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