Forms of Passive Income
Welcome to Passively Wealthy! My name is Arlin and I’m the blogger/writer behind this site.
I’m sure it will evolve as we go, but for now I envision it being a home for those interested in earning a living online through passive income.
Something akin to Pat Flynn’s Smart Passive Income blog.
A little about me…
When I was in my teens, I used to bug my parents about buying real estate.
By age 24 I had bought my first house with my husband.
By age 34, we had purchased two more houses to operate as rental properties.
We had also bought and flipped a house and purchased a second one to do the same.
Then everything came to a screeching halt when my husband got a job in Costa Rica.
We left for 2.5 years. In that time, I had a baby.
We left Costa Rica owning a lot in a development.
Returned home and bought a new house, the one we own now.
In 2012, we bought another investment property.
You could say I like real estate!
But in 2007, I also started to write online.
And I got a taste for what it would be like to own a large website that generates a lot of pageviews.
In 2017 (wayyy too late in my opinion), I finally figured out how to do the whole start a blog/website thing.
By 2019, I was generating regular revenue from it.
In 2021, I’m close to earning $2000/month from that website, primarily from passive income.
The real estate is passive income as well. I have a property manager, so I no longer deal with the day-to-day headaches.
My philosophy on wealth has been formed by reading books from the likes of Robert Kiyosaki (Rich Dad Poor Dad) and Dianne Nahirny (Stop Working Start Living).
I’m not lazy. I can work harder and longer than anyone.
But I detest trading dollars for hours. I’ve worked at multiple regular jobs and it nearly killed me.
I view my real estate and online business as assets that I’m creating. If you aren’t creating assets, then you are ON A TREADMILL.
If you’ve read this far, then I’m going to share with you a bit of advice for creating passive income if you are just starting out.
This might not be possible depending on what the market is like where you are. But this is where I started.
Buy your first house as early as you can. I bought ours when I was 24. It was a former cottage.
Literally, I pulled a picture off of Google Streetview for you.
People probably thought we were crazy. But we bought it for $92,000 and sold it four years later for $140,000.
We moved to a place that we paid $95,000 for… guess where the rest of the money went?
Leveraged to buy a rental property.
You have to start somewhere. Buy whatever you can afford to get in the market.
I will be the absolute first to say that blogging is not the fast road to wealth.
But then neither is real estate. This is passively wealthy after all, we are all about the end game.
Start a blog. Or two. Get enough pageviews to qualify for a good ad network like Mediavine, and you will make passive income.
If you are not sure how to do that, ask me! I’ve taken alllll the courses.
This kind of goes along with blogging, but it can also stand on its own.
You can start an Etsy shop and sell anything. I have a shop where I sell printables and workbooks.
It’s really easy to set up and can create a passive income stream, especially if you are selling digital products (which I strongly recommend).
Do you have a knack for creating cover art? Create a journal and sell it using the Amazon KDP program.
I haven’t done this myself, but I know of someone who makes regular passive income just by creating cute covers for journals in Canva, adding blank lined pages, and then selling through Amazon.
The best part is that you don’t need to keep any inventory. If someone buys, then Amazon fulfills the purchase for you.
These are just a handful of ideas to get you started thinking about how to make passive income.
What are your strengths? What do you enjoy? Yes, you can learn about passive income strategies but if you hate them it’s not going to work.
I love real estate. I bought houses.
I’m obsessed with understanding mental health. I started a mental health blog.
Sure, there might be other ways to make passive income, but I’m not going to be happy renting out widgets just to make a buck.
It’s got to sit well with me.
So long story short, I hope you’ll come on this passive income journey with me. I have lots more ideas to share.