Passive income

[Darkjumper]

Anyone doing anything to generate passive income and willing to share their HONEST experience and ideas? On this site in the link, I have been thinking of number 9, and ironically, Fundrise is who I have been considering. Anyone took or is taking a chance with this particular business and how is/was the experience?

21 Passive Income Ideas to Build Wealth in 2024

Passive income is money made from multiple income streams. It often shows up while you're sleeping! Here are legit passive income ideas!

millennialmoney.com

 

[Darkjumper]

I do #6 and #13 and sell things on Kijiji or Craigslist.

Is Fundrise legit?

Hey thanks, oh yeah Fundrise is very legit. I have been looking into them for a bit but have been procrastinating. This year gonna use my bonus and take the leap and invest. If I lose the money, that is fine since it is money I have been without already.

https://fundrise.com/

Fundrise Review 2024: Pros, Cons and Features to Know - NerdWallet

Fundrise is an online real estate company that gives investors access to private real estate deals. Management and advisory fees add up to 1% and there's a potential for strong returns — but be wary of underlying costs.

www.nerdwallet.com

 

[MacNfries]

I'd think you'd want a passive income that doesn't generate a 1099.
Fix up or build a detached garage apt for rental. People are looking for "real deals" on rental these days. Prefab garages are relatively cheap, adds to the value of your property. Ten grand builds a really nice two bedroom/1 bath and you recoup your cost in the first year. If you do any of the work, you can probably build it for under seven grand.
Be sure to install the fake garage door on front so it can be converted to a garage later when you sale your regular home.

detached garage plans - Bing

Intelligent search from Bing makes it easier to quickly find what you’re looking for and rewards you.

www.bing.com

 

[hoping hubby]

I'd think you'd want a passive income that doesn't generate a 1099.
Fix up or build a detached garage apt for rental. People are looking for "real deals" on rental these days. Prefab garages are relatively cheap, adds to the value of your property. Ten grand builds a really nice two bedroom/1 bath and you recoup your cost in the first year. If you do any of the work, you can probably build it for under seven grand.
Be sure to install the fake garage door on front so it can be converted to a garage later when you sale your regular home.

detached garage plans - Bing

Intelligent search from Bing makes it easier to quickly find what you’re looking for and rewards you.

www.bing.com

Interesting advice from the person who's been calling for years for Trump to go to jail for tax fraud.

Note for anyone building off Mac's advice: Better use pure cash if you wish to evade taxes. Thanks to Biden's "American Rescue Plan" signed into law March 2021, goods and services transactions over $600 all will be reported to the IRS on 1099Ks from the PayPal's, Venmo's, Etsy's, etc. of the finance world. This portion of the law went into effect Jan 2022.

A fine example of Biden really sticking it to the rich/not raising taxes on the middle class...you know, because so many multi-millionaires make their fortunes through $610 payments via PayPal.

 

[MacNfries]

Interesting advice from the person who's been calling for years for Trump to go to jail for tax fraud.

Still following me around the website, aren't you, "fat boy?". You're so addicted obsessed with me. Got to know what I'm doing, don't you? You wouldn't even have a life on here if it wasn't for me. Can't believe, with you not having a job, you can't find time to drive over the Shelbyville.

How's that New Year's diet working out for you? Cutting back on the food & exercising any? Only having 5 muffins instead of a half dozen? Cutting back to 6 cokes a day. How many pizzas & submarines you stuff down your big pie hole this week? Put a dozen Crispie Cream donuts in front of you and you just breathe them down; hardly chew them. Bad for your diabeties you know.

 

[Darkjumper]

I'd think you'd want a passive income that doesn't generate a 1099.
Fix up or build a detached garage apt for rental. People are looking for "real deals" on rental these days. Prefab garages are relatively cheap, adds to the value of your property. Ten grand builds a really nice two bedroom/1 bath and you recoup your cost in the first year. If you do any of the work, you can probably build it for under seven grand.
Be sure to install the fake garage door on front so it can be converted to a garage later when you sale your regular home.

detached garage plans - Bing

Intelligent search from Bing makes it easier to quickly find what you’re looking for and rewards you.

www.bing.com

Oh, I see what you mean, and I will look into that. Thanks. My ex-wife is doing some kind of Air BnB thing, I may ask her about that.

 

[MacNfries]

Oh, I see what you mean, and I will look into that. Thanks. My ex-wife is doing some kind of Air BnB thing, I may ask her about that.

I gave you a link to what I am talking about. They come ready to assemble, most of 'em. Pour your footing/concret base, install the electrical & pumbing connection and you and a couple friends could build one in a week, easy. Get an easy $1,000+ per month extra income. Rentals have become as expensive as owning a home these days. You'd have one with a garage ... a big plus.

 

[Darkjumper]

I gave you a link to what I am talking about. They come ready to assemble, most of 'em. Pour your footing, install the electrical & pumbing connection and you and a couple friends could build one in a week, easy. Get an easy $1,000+ per month extra income.

Oh, I am not ignoring it, just that I rent, so not feasible right now.

 

[hoping hubby]

Still following me around the website, aren't you, "fat boy?". You're so addicted to me. Got to know what I'm doing, don't you? You wouldn't even have a life on here if it wasn't for me. Can't believe, with you not having a job, you can't find time to drive over the Shelbyville.

How's that New Year's diet working out for you? Cutting back on the food & exercising any? Only having 5 muffins instead of a half dozen? Cutting back to 6 cokes a day. How many pizzas & submarines you stuff down your big pie hole this week? Put a dozen Crispie Cream donuts in front of you and you just breathe them down; hardly chew them. Bad for your diabeties you know.

View attachment 4740896

Hmmm lots of childish insults directed at me, but no admission of your hypocrisy regarding your personal tax evasion scheme after having pontificated for years about Trump needing to go jail for tax evasion. Glad to see things are normal with you.

 

[jamesriske]

I'd think you'd want a passive income that doesn't generate a 1099.
Fix up or build a detached garage apt for rental. People are looking for "real deals" on rental these days. Prefab garages are relatively cheap, adds to the value of your property. Ten grand builds a really nice two bedroom/1 bath and you recoup your cost in the first year. If you do any of the work, you can probably build it for under seven grand.
Be sure to install the fake garage door on front so it can be converted to a garage later when you sale your regular home.

detached garage plans - Bing

Intelligent search from Bing makes it easier to quickly find what you’re looking for and rewards you.

www.bing.com

You have to be careful about doing that and make sure that you're zoned for it and have the proper permits.

 

[jamesriske]

Hmmm lots of childish insults directed at me, but no admission of your hypocrisy regarding your personal tax evasion scheme after having pontificated for years about Trump needing to go jail for tax evasion. Glad to see things are normal with you.

He never will. Even though it's all here for everyone to see, he won't admit that he's full of *******.

You know the old liberal saying, "Rules for thee but not for me..."

I used to know one liberal who argued with people for years and years about how we should all support government programs to give free day care, free housing, free food, free this and free that to everyone who had their hands out. He even went on and on about how cruel everyone is to not support all the free hand outs he could think of and how taxes should be raised on everyone to pay for it all. Come to find out that he was not paying his taxes and he wasn't even paying his dentist landscaper, and plumber. They had to sue him to get their money and even then it was an uphill battle for everyone to collect. Jeffrey G. Brown was his name and he was notorious on usenet until people ousted him as a hypocritical deadbeat.

Most of them are hypocrites and I don't pay much attention to them.

They're equally full of crap when it comes to global warming and masks. It's all BS that they themselves don't follow either.

They're no better than the televangelists who get caught stealing money or having affairs with trannies.

 

[BDG69]

Cool ass concept that I’m proud to be a part of. Black-owned by a couple in Texas

https://www.facebook.com/video.php?v=265160432489396

 

[Darkjumper]

Cool ass concept that I’m proud to be a part of. Black-owned by a couple in Texas

https://www.facebook.com/video.php?v=265160432489396

Ironic that the man who developed this system spoken of in the video, he actually got me into this multilevel marketing things about 12yrs ago. I am glad he is doing well, but I'm not sure I want to go that route

 

[BDG69]

Organo Coffee, right? I never knew of him until 2019. Thanks for checking it out Bro

 

[ridgelyfan]

I do some angel investing and pre-IPO investing.

I don't have the time or attention for stuff like renting out properties or running a laundromat or car wash (can't live out my Walter White dreams, sadly)

 

[Darkjumper]

What about stocks?I'm a low risk taker but I'm ok risking about 2 to 3 k that if I lost it I won't freak out. I looked at crypto but can't wrap my head around that intangible currency lol.

 

[noirsexe]

Find some great low market cap crypto projects and start investing in crypto nodes or staking

 

[free2fli]

Although Passive Income exists as a tax concept, there is no such thing as a free lunch. So, generating that income requires effort, management, money, and risk. Passive income by definition is net rental income or income generated from activity wherein the recipient did not materially participate, e.g. limited partnerships. So, these "do it yourself" schemes that actually involve active participation are earned income - not passive. So what is the downside to earned income as opposed to passive income? For the most part the 15.6% tax on first dollar earned FICA/Medicare. And is that really bad? No - so long as one lives to retirement age, because it cranks up your monthly check. For those with no pension (and I mean a real pension that is guaranteed by PBGC) Social Security pays off big time. Don't have the cash to buy storage units? Look at buying into pooled mineral royalty interest funds. Those funds buy mineral interests with existing leases, sell investment units to both institutional and individuals, and send the owners monthly checks dividing up the money paid for gas and oil produced. Plus, you get the 15% assumed depreciation on the investment (its called the depletion allowance). The result is that there is no 15.6% Soc Sec bite, plus the gross income is reduced by 15%. Enough from me. Just know that it all involves risk, and that means you can lose your money. And you need professionals to advise on tax, management, and regulatory compliance.