Finding opportunities to create residual income can help build retirement, college, travel funds. I have found residual income but what are some other residual income businesses people are using. I like to hear what others are doing. I love what I do. I like to hear other success stories.
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I am interested in what you are doing. I currently have a side job as a travel agent but commissions are slow. I am looking for another alternative to help pay off debt.
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Investing in a Real Estate Investment Trust and dividend paying stocks are my source of residual and passive income.
I am always on the lookout for and in the process of creating additional residual income streams.
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Look for incentives inside your own community / City… either writing a travel log or contacting Community leaders
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I’m still trying to get use to the Penny Hoarder site and how to reply to different folks. So, I think this will go to all of you. I do like the idea of real estate investing. I just haven’t had the opportunity to jump on it. I love the travel industry too. There are so many opportunities out there to make additional income. @mrsmcbride what travel company are you with. I could see myself doing the travel thing and blogging. lol
So, the “job” I do is open wholesale accounts for a manufacturing company in Idaho Falls. It is almost like a Sam’s club or Costco. When I open accounts it creates residual income. I train people to do the same. I’ve been with the company for over 20-years. I love the company and helping people.
Hopefully, I will get more use to the P. H. site and learn how to navigate it.
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One form of small residual and passive income I forgot to mention was being a part of the Quora Partner Program.
I just checked and I made $2.98 in the last 7 days from questions and I hadn’t asked a question since January.
I wrote more about it here: https://community.thepennyhoar…g-questions-on-quora
I’ve been looking into drop shipping with oberlo & shopify but have been ner ous to do so because there is an overall small investment cost (not a fee) to get started, and I’m worried what if it fails as most things I’ve tried have?
has anyone else tried drop shipping with success? I’m also a rover sitter but until I really put myself out there, it’s not enough yet.
Yes, do something you like to love! Drop shipping can be tricky be-aware. You smart to ask! Asking is priceless are no dumb questions
@jadawn I have done drop shipping off and on since I was about 15.
When I first started, I used suppliers from China which ended up being a nightmare. 1/4 of my orders never made it to customers and the ones that did ended up having trouble (selling electronics)
I recommend using more traditional drop shipping methods with US suppliers and selling their products on other platforms.
Shopify is nice, but it does get expensive over time and then it adds an additional cost of marketing to get traffic to your site.
By dropshipping products on Amazon, eBay and other well known marketplace, you can tap into a huge list of buyers who are already searching for your products on the platform.
I still do a little bit of dropshipping and sell 1 or 2 lava lamps this way a month. And I just recently sold a remote control boat for the first time.
In the past, I have had a lot of success dropshipping musical instruments and pet beds.
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Leta Muncie posted:
I’m still trying to get use to the Penny Hoarder site and how to reply to different folks. So, I think this will go to all of you. I do like the idea of real estate investing. I just haven’t had the opportunity to jump on it. I love the travel industry too. There are so many opportunities out there to make additional income. @mrsmcbride what travel company are you with. I could see myself doing the travel thing and blogging. lol
So, the “job” I do is open wholesale accounts for a manufacturing company in Idaho Falls. It is almost like a Sam’s club or Costco. When I open accounts it creates residual income. I train people to do the same. I’ve been with the company for over 20-years. I love the company and helping people.
Hopefully, I will get more use to the P. H. site and learn how to navigate it.
I am interested! Can you send a link? Been sales for over 30 years. Love it. Customer service of course as well. Let me know and I will send my email. ThNk you.
Moore Income posted:
@jadawn I have done drop shipping off and on since I was about 15.
When I first started, I used suppliers from China which ended up being a nightmare. 1/4 of my orders never made it to customers and the ones that did ended up having trouble (selling electronics)
I recommend using more traditional drop shipping methods with US suppliers and selling their products on other platforms.
Shopify is nice, but it does get expensive over time and then it adds an additional cost of marketing to get traffic to your site.
By dropshipping products on Amazon, eBay and other well known marketplace, you can tap into a huge list of buyers who are already searching for your products on the platform.
I still do a little bit of dropshipping and sell 1 or 2 lava lamps this way a month. And I just recently sold a remote control boat for the first time.
In the past, I have had a lot of success dropshipping musical instruments and pet beds.
but with these ways do you have to have your own inventory?
if not how does it work for these outlets? I’m familiar with amazin and Ebay as a customer, but that’s all. how would I go about setting it up & getting started?
@jadawn You do not have to have your own inventory. Finding the best companies to work with is the hardest part but once you do, you simply take the pictures and descriptions from their website and list them on amazon and ebay with that information. Once one sells, you take the buyers shipping info and order it with your dropshipper.
To get started, I would first recommend setting up seller accounts on either Amazon or eBay or both and getting comfortable and familiar with the selling process.
If you start by listing a few things you have around the house to get the hang of it, that is the best way.
@leta.muncie and @cindyt I am with Xstream Travel but I highly recommend KHM Travel. They have a smaller fee to get started and the monthly website maintenance is $45. Being a travel agent has saved us money on trips. Commissions are slow on some vendors but when you get it, awesome. Group travel is where you will find the best commissions.
Thank you so much for supplying the info. Very helpful! Have a great day!
Sincerely,
Cindyt
