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    • Having read Tim Ferris' "Four Hour Work Week" and inspired by friends who have successfully created passive income streams and only work when they feel like it, not when they have to, I'm trying to figure out this passive income idea, too. Seems that real estate (renting out houses/apartments) and investing are great ways to go, but being completely talent-less in both of these fields, I'm leaning towards creating e-products that can be sold online indefinitely.

      Do you have a passive income? Would you like to? What has worked for you?

    • If it's to be passive then some form of physical asset that you can rent or lease would seem to be necessary.

      A friend of mine decided to invest in the machines that go in public laundrettes. Not sexy, as even he freely admits. But they do deliver steady, dependable cash flow against an asset that is generally reliable.

      If you can raise finance at cheaper rates than you can rent out, there are so many possibilities. A fleet of bicycles in a tourist town maybe? Sub letting a basement?

      The only thing about passive income is that it often requires an initial cash outlay. And someone to manage the assets.

    • How fascinating! Public launderettes. Who knew :D

      I'm not sure a physical asset and initial cash flow is absolutely necessary though. E-book sales via Amazon, or online courses via Teachable are some examples of passive income via purely online products and tools.

    • Yes, e-book sales or online courses would generate income, but I would not exactly call it "passive" since you have to tie up time in either writing the books or holding the courses. In that sense its more like another form of job.

      That said, and semantics aside, I have always wanted to write books and self-publishing on-line seems an increasingly beneficial way to go about it. There are some good communities on G+ that help new on-line authors - these are still available until the platform closes. "Self Publishing Your Book" has c. 60k members and the main contributors seem very capable and able to help.

    • In the beginning, perhaps, but once the book is written or the course created, it can be sold online using completely automated processes, and it then becomes passive income.

      Here's a very informative panel on self-publishing right here on Cake!

    • Youtube videos seem to be another way - although I'm not sure how many subscribers and views you need to start making a substantial enough income!

    You've been invited!