The beauty of Passive Income Stream Investments is that they make money for you without you having to be physically working them.
This is a little misleading however as many of these businesses, still require some work on a daily basis, but we are talking in terms of perhaps 1 or 2 hours as opposed to the typical working day of 7.5 hours.
If your goal is to fund your entire lifestyle with passive income stream investments , this is achievable, but for many this means that these additional hours will need to be done early in the morning or in the evening after work.
Of the different types of Passive Income Stream Investments, I thought I would dive in with the following ones:
Mobile Phone Apps
Being the person who doesn’t skirt around the edges but jumps straight in, I went on a buying frenzy, and after a few days had a very small portfolio of websites and apps. For ease of reading I will talk about the steps I took for these businesses separately.
I previously had built and run a website which I spent a lot of time on, I did eventually sell it on, but the return based on the number of hours I had put into it was extremely minimal. However at the time I had decided that the time I could save by moving it on, could be spent on other projects, so I cut my losses.
I also previously had built a few websites for people, and whilst rewarding the amount of time spent again and the return was not very good.
So you could say I had a fair deal of experience of websites before I decided to look at investing in them as part of my Passive Income Stream Adventure.
So where do you buy website?
You can find a few places online, but Flippa was one that I had read was good.
On Flippa there are listings of Websites and Apps. Some of these websites are established and then there are also some completely new ones. The site is essentially an auction site, so the highest bidder wins the website as long as they meet the reserve price.
Here are some things I learnt about these websites.
- Not every websites design or content is unique
- A website designer can build a website for example in the area of bikinis, and list it under the domain bikinioo.com . However they can then copy the content and layout and create another one with the domain of www.bikinibikinibikini.com
- To put it simply the google search engine doesn’t like seeing duplicate content, and thus the site wont appear that high on the search results.
- However you can make it appear through placement through online marketing campaigns and through driving traffic from social media, and other feeder websites.
to be continued…….