Passive Income Report Q1 2017
For those of you that asked, I’m glad to say I’m still alive! Sorry it’s taken me so long to post my income reports. I’ve been determined to buy a portfolio of successful online businesses and as I move forward the less time I have. Trust me I’m not complaining, I love the journey I’m on but I’m still working out all the kinks. What does that mean for my readers? My income reports might change a little to help me cut down on the time it takes to produce them. For those of you that are interested in seeing where I started, check out my income reports.
Before I get into the numbers I want to go over what I include in these reports and what I don’t. Alright, lets get down to it.
What’s Not Included
In these reports I will include only passive income. Meaning, no income from my full time day job. Although I make a paycheck, I’m still trading hours for dollars and that’s what I’m working to get away from! I want PASSIVE, earn in your sleep income!
I’ll also not be including:
401KIRA”SRoth IRA’sPension
Basically any accounts I would get Penalized on if I where to use them early, won’t be included.
What’s Included
In this report I will include income items that are passive and easily available to use if needed. Website income, interest income, dividend income (from non-tax penalty accounts), cash back from credit cards and whatever else blows my way!
Passive Income Q1 2017
Income from Websites
If you’ve read my investment strategy this is the section I’m really bulking up and it’s working out nicely. While some people might not be comfortable with buying websites quite yet, I recommend you try building one first, it’s fun and a great learning experience, if you’re interested, check out my how to start a blog post. As some of you know I’ve teamed up with other like minded individuals to buy websites. This has helped me get into more deals, learn about areas I’m not familiar with from industry experts, diversify my risk, and meet some amazing people! Over 1st quarter I invested in one more site bringing me to a total of 7 sites in my portfolio! If you’re interested in teaming up with me and other awesome people who buy and grow sites together leave you information below and we will reach out and see if you’re a good fit!
Now to the fun stuff, lets check out how these sites are doing for me. For those that read my income reports regularly I am trying out a new way to show my earnings in this section, let me know what you think!
1st Quarter 2017 Website Earnings
| Websites | Comments | |
|---|---|---|
| Site 1 | $1,521.83 | |
| Site 2 | $48.25 | |
| Site 3 | 0 | Re-invested income |
| Site 4 | $1,565.08 | |
| Site 5 | $345.51 | |
| Site 6 | 0 | Re-invested income |
| Site 7 | $1,476.30 | |
| Total Income | $4,956.97 | |
| Expenses | ||
| WPX Hosting | $-74.97 | |
| GeniusLink | $-27 | Great Amazon affiliate tool used to earn money from your foreign visitors |
| Lightning Rank | $-149.85 | My go to if you need a PBN built and managed for your site. |
| Content Refined | $-710 | My content marketing team, they're the best I've found! |
| Aweber | $-57 | Easy to use autoresponder for your email list building needs. |
| Adwords | $-150.27 | |
| Total Expenses | $-1,169.09 | |
| Net Income | 3,787.88 |
Wasn’t my best quarter as you can tell but I’m still happy about the way it turned out overall. A couple of sites I had to re-invest in to so I could buy inventory and run promotions. While I love the cash flow these sites generate, sometimes it makes more sense to re-invest. While the short term cash flow sucks to lose the potential to 10X the company doesn’t!
One thing I was disappointed with was site 5’s earnings. I was expecting to earn around $1,500 from this site. Why did it perform so bad you ask? A couple of things. First, we switched to a different web developer agency so we had to go through our processes which took time and slowed down our new customer intake. Second, we are still testing how to streamline the customer purchase process. We don’t want to sell more services than we can handle that would just make us look bad and annoy our customers.
The last thing I will chat about in this section is the service I picked up during the quarter. The service is called Content Refined. They provide content marketing solutions, from keyword research to article writing and publishing, they take care of it all. This is a great service for me and my growing portfolio of sites. As I said early, the more sites I buy the less time I have and content creation is a big time suck! The team at Content Refined has helped me restore a nice chunk of time while still keeping a great content marketing strategy going.
Interest
The interest I earned this quarter totaled $61 most of which came from my Capital One 360 high yield savings account. This is by far the easiest passive cash flow I earn. If your looking for a FREE way to save some money to invest, start with a high yield savings account.
Dividends
My dividends for this quarter were once again $0. For those that don’t know I moved my cash out of stocks in the beginning of the year to invest in websites because the ROI is better. We will see if things change for this section down the road.
Credit Card Cash Back
If you have a credit card first make sure what you spend on it you can pay off. If you have that part down do what I do, use your credit cards to make your routine purchases (as long as it doesn’t cost you extra), then pay the bill in full at the end of the month. This way you’re taking advantage of the rewards with out paying any interest or penalties. The cash back rewards card I recommend is the Fidelity Investment Rewards, Visa Signature.
This quarter I received payments amounting to $255 and all I did was spend money I was already going to spend!
Total Passive Cash Flow Q1 2017
My tally for this quarter comes to $4,103.88! Overall another great quarter for me. People always ask for advice on how to earn passive income like me so here it is. If you’re looking to make income online don’t wait, act! It’s easier than you think, you can either start your own site which is super easy (check out my blog setup guide) or look to purchase a cash flowing site on your own or with a buyers group. Either way if you take action you’re moving in the right direction!
Thanks for taking the time to read my income report, leave a comment if you have any feedback or tips for me!