Passive Income

Passive income always requires significant cash. Why are you even thinking about it if you don't have a couple hundred thousand?

Better yet, invent a device that easily and quickly bakes single-serving desserts

how much money do I need?

I'm tired of being broke and I want things that make money for me.

I'll call it a dank-o-wave

Ever think about getting a job? Or are you a nig-nog?

I have a job. How much cash do I need?

Depends on location, location, location.

I live in LA and the cheapest POS rental costs $300K and it is literally impossible to make money off of it due to a variety of reasons.
Best think to do would be saving up enough for a down payment so you can buy when the market tanks. I personally would save up at least $50K.

How the fuck do I net 50k?
I have a job, not a career.

I didn't say "net"; I said "save".

I saved $60K in 4 year while I was active duty. I didn't blow my money like other soldiers on booze, women, food, and cars. I suffered but now I live in my own house and rent two rooms out and their rent covers half my mortgage.
In about 2 years, I could rent out the house and cover the entire mortgage payment.

I can't save that in 10 years dude. I don't earn enough. Sounds like I need a better job.

Money and a job.

Or a lot of money and no job.

I have just under $50k AUD and banks still won't lend me money for investment because I don't have a full time job. I earned all that from working my part time job, scavenging any available shifts as best I can.

Correct. Business requires funds. Develop a skillset, get a career, use that money to fund your own business.

There's no easy road for us. Everyone who "made it big" in the last 20 years had connections and/or starting capital. Every. Single. One.

I don't want to make it big. I'm just tired of starving for time and money.

Hell, I know a multimillionaire in that same position. He owns a few mil in rental property but can't get a damn mortgage because he doesn't have a W-2 (earned income).

Don't give up, poorfag. We were all there at one time. Hell, imagine how Trump felt in the 1990s.

Best advice I would give is enlist in the military and/or learn a trade. You can kill two birds with one stone by getting a guaranteed trade job in the military. They train you, employe house, and feed you. You get out, use Post-9/11 GI Bill, go to school more, use VA mortgage to buy house with zero down. It can work out if you are prudent. Save, save, save. And stay away from women. They suck up money like nothing else.

>Millonaire
>Needing a mortgage

Why? Why not just buy the house with your own money?

That makes no sense if he's a millionaire. He should be able to fully pay off houses are ride off the free income from the tenants. On top of that, his income from the rental properties should be enough on top of his millionaire status to get approved home loans.

I'd rather have a house and a million dollars than a house and $750k

lenders may not consider rental property income as solid

he likely could just pay cash for a home but there are other reasons to mortgage a property besides needing a place to live, it is about the best rate on borrowed money you can get

If you don't mind me asking, where did you advertise your rooms?

Most of his money is tied up in equity.

He's cash poor.

Word of mouth. They one is away in the Army (and still paying me rent) and the other is a cop at the agency I work at. I undercharge him because he's trustworthy and cleans for me.

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goldreception and let me know what you like best about it

>Hell, imagine how Trump felt in the 1990s.
Like a million bucks?

Income from Youtube videos or a blog. You'll need tons of traffic for that tho. (Once a video reaches 1 million + views it gets recommended by google pretty much forever and you'll get at least 500-1000 views a day from that video

This. Just lol at comparing Trump with someone that has 20 dollars in the bank.

>I live in my own house

>and rent two rooms out

Your own your own house and you rent the rooms out. So you have 2 faggots in your house at all times. Well done. How the White man has fallen...

You missed a couple of zeroes after that 20 my dude.

I got $200k saved (aud)
interested in what you guys think I should do with it

will research vending machines because that sounds interesting

how much cash would be needed to make $10k a year passive income?

what reasons do you speak of?

vending machines are not passive and you will need a few hundred to make enough money to make it worth your time. I tried it and it sucked.

what would you recommend I do then?

(I calculated I could afford between 20 and 30 vending machines)

Ivanka: “I remember once, my father and I were walking down 5th Avenue, and there was a homeless person sitting right outside of Trump Tower. And I think I was probably nine, ten something like this, it was right around the time as the divorce. And I remember my father pointing to him and saying ‘That guy has $8 billion more than me.’ Because he was in such extreme debt at that point."

>implying I ever leave my bedroom
>implying my housemate ever leaves his bedroom
>implying I'm not renting a room to a guy that's in the Army and is just paying me to store his stuff.

says the poorfag who doesn't even have a room to rent out. You'd be fucked over if your mom demands rent for your use of her basement.

Cap rates are shit in the LA area. Rental property market is so shitty but nobody believes it. They say "But user, if rental properties don't make money, how come they are selling?" Easy: they are being bought up by Mexican families that pool their money together.

A few hundred...thousand?

bump

I make 20k a year, how do I generate passive income with that