6 "Passive Income" Streams (and the TRUTH no one wants to tell you) #Best Education Page #Online Earning

All right, you wanna make a little bit of extra money.

You wanna get your hand in passive income

but I'm here to tell you the truth behind passive income

and I'm not gonna make you wait

in this video to learn about it.

Here it is.

There is no such thing as 100%,

automated, hands off forever passive income.

Not unless you're talking about like

you've acted in a movie or something

and you're getting royalties for life

or maybe you're Mariah Carey and for whatever reason

every year we all sing and hear the same song

and you get paid for that.

The opportunities exist to make money,

however, you must invest time up front

to create the systems to generate that income

to pay you back later.

And it doesn't always work out.

I've had too many people come to me going

hey what's the easiest way to generate an income.

That's the wrong question. I've had a lot of people go

hey this Youtuber is saying it's so easy, is that true?

And I go, no, you can generate passive income,

I'm gonna show you six different models

that I've used to generate passive income,

but at the same time, I wanna uncover

exactly how much work was put into it,

how much time and money was invested,

and what you might do

if you wanna get started on that path too.

So here are the six business models

that we're going to cover.

Number one, I wanna start by talking about

my very first
business that I created,

it was actually outside of the

how to make money online space,

it was to help people pass an architectural exam.

So I'm gonna talk about how that got started,

the business models that are used,

and yes it's actually still alive today

and generating some money, which I'll share with you,

still month to month.

Number two, we're gonna talk about affiliate marketing.

If you were to ask me Pat okay,

what would actually be the easiest way to make money online?

I would say affiliate marketing

and I'm gonna show you some examples of how that's done,

but also it requires work, it's not push button easy,

you have to do the work and I'll show you how.

Number three, a lot of you have been very curious

about my real estate portfolio.

Quite honestly, it just started

and it's just one other house, our rental property.

So I wanna talk a little bit about

and I've never shared this before

that property, how much it costs, the mortgage,

all that stuff and I know there's a lot more people

way more experienced than me about that,

but it is something I'm experimenting with

and it's a lot of hard work.

I'll show you exactly what I'm talking about.

Number four, I've also never shared this before,

my stock portfolio.

For example, I woke up this morning

and Tesla was over five hundred points.

How much did that make me?

Well I'll share with you what today was like,

but also that's just one day

out of the long term investments that I've had

and everyday is different.

Number five, Amazon, I know a lot of you

are thinking about either white labeling

or wholesaling on Amazon

or maybe even inventing something

like me and my partner did.

We have an Amazon business now that was launched in 2019,

I'll share with you some of the numbers.

Even today, how much money did we earn today

and what work did we do to make that happen?

And then the back story of just well

exactly what did it take to get there?

And then finally, I wanna talk about podcasting.

Not in the sense that I want you to podcast too,

but if you are a content creator of any kind,

podcasting is my primary platform.

Whatever your primary,

(tongue stutters)

whatever your primary platform is,

I want you to understand how you might be able to use it

to launch a business, to generate revenue,

and how passive it actually is or is not.

So stick with me, we got a lot of things to cover.

In the meantime, if you'd like to leave a comment below

and tell me what kind of business you're involved with

or you're thinking of starting, leave that comment now

or maybe you could wait til end if you are just starting

and you have no idea what you wanna do.

So, lookin' forward to communicating

with you here in the chat, but for right now,

let's just get right into it.

All right, my very first business started in 2008.

I actually got laid off from an architecture job,

one that I loved,

and I created an online business

to help people in the architecture space pass an exam.

And it wasn't the architectural exams,

I hadn't even taken mine yet,

it was an exam that I had just finished taking myself

called the LEED exam, L-E-E-D,

which stands for Leadership in Energy

and Environmental Design.

You've probably never heard of that before

and this is my first lesson,

you don't have to create something that changes

the entire world, you just need to create something

that changes somebody's world.

And my somebody at the time

was somebody who was just like me not too long before that,

which was somebody who was studying like crazy

to pass this exam because it was just a really hard exam

and I wanted nothing more than

to complete that exam and pass it.

So a simple website, I got very involved

with putting all my notes on there,

getting involved on forums

and low and behold, I started to be seen

as the expert in that space.

Even though I barely passed the exam.

It was simply because I was showing up

that I got seen as somebody who could help

those who were just starting out.

And that's a big lesson too, you don't need to be

the expert on a topic.

You just need to be somebody who knows

a little bit more than somebody else

and if that's the case, you can help people

and as a by product, generate an income too.

So here's what I did, I launched a study guide,

literally a PDF file that I sold for $19 and 95 cents.

In October of 2008 when I launched that,

I had made $7905 and 88 cents.

And the cool thing is because it was just an ebook,

I didn't like print them out and ship them

and get returns and all that stuff.

Number one, I didn't want to deal with any of that,

but number two, I kept most of the money as profit.

Now a lot of hear that story and they go

Pat, wow, that's wonderful, you just set up a website?

How do I just set up a website and make money?

Well the thing is, you can't.

You have to do a lot of work to make it happen

and I did this and a lot of people don't hear about this

in the story.

I was spending 16 to 18 hours a day in forums

related to this architectural exam

helping people with answering their questions,

not even making mention of my website.

It was there on those forums

that I became an expert and then eventually,

I added the link on my signature.

People started to share my website with others,

my website started to get known,

Google found it eventually, and then,

I figured out how to put my words in a word document,

turn it into a PDF file,

sell it online and thankfully, it did very well.

The other thing that benefitted me

within this particular realm was that

I was selling information about something

that people desperately wanted to know about

and we're willing to pay for.

If you're gonna be creating a product in the,

I don't know how to create your first scrapbook

for under $30, it's gonna be a tough go

because number one, like how much of a pain

is that for that person?

I was targeting a huge pain and people in that career

were willing to spend money to get rid of that pain

and once people started to see

that my stuff was working for them, word started to spread,

and I saw offices, entire offices,

all buy buying my guide to help

just the whole situation for their business

and it peaked in mid 2009 when I was making

$30 thousand a month on an ebook.

I raised the price of course,

but a lot of lessons learned there

and that was my first online business

and why I started what I'm doing now to help others

because truly these opportunities exist

but I wanted to tell the truth, this stuff is not easy,

you gotta put in the work.

All right, number two, let's talk about affiliate marketing

something that we can all do

and you've likely gone through the motions of it before.

If you've ever recommended a product

or a movie or a service to another friend

or another person that you know,

then guess what, you've done affiliate marketing,

you just never got paid for those recommendations.

Affiliate marketing is recommending products to other people

that aren't your own products.

So, unlike me with my study guide in the previous example,

you can make money by selling other people's stuff.

A quick and easy way to do this is to sign up

for Amazon Associates and just to give you an idea

of last year, I generated about $23 thousand in earnings

as a result of recommending other products

that again, we're not mine.

The cool thing is you can get started with this right away.

The bad thing is too many people abuse this

and what they end up doing is they find a product

with a high commission and they just

(yelling in pain)

ram it down their audience's throat

and that never feels good.

So I have some videos about affiliate marketing

if you wanna go deeper into it,

however, I do wanna show you a couple examples.

This video here is a video

where I reviewed a few microphones

and everyday people are clicking on the affiliate link

in the description and I'm getting paid for that

and it's just four to eight percent on Amazon

but those things add up.

The most important thing is to find the right products

for your audience and if you can't sign up for Amazon,

you can also be an affiliate for Walmart,

for Target, did you know that?

You can be an affiliate for events

that you might be going to.

You can be an affiliate for coaching services,

digital products, physical products, anything really.

Because these companies want to thank you

and reward you for sending customers their way.

So affiliate marketing, it takes work,

it takes a lot of effort to build trust with an audience,

but once you have that trust,

then you can make magic happen with affiliate marketing.

Next up, we have our real estate property,

again, this is not my game, I'm just getting into it.

I'm learning about this a lot from many of the Youtubers

who are here and if you have any resources

put 'em in the comment section below

so that I can learn from them too.

But, just to give you some numbers,

this house we paid for it, it was $580 thousand dollars.

This is in San Diego so we got West Coast prices of course.

I put $156k down, which I had just building up over time

in a wealth front account and we decided to take some out,

invest it in this property,

which has a little bit of sentimental value

because it was a house that we actually,

my wife grew up in, which is pretty cool.

So now we have a loan of $424 thousand

and a mortgage payment of about, let's see, $2,863.

Four bedroom, single family dwelling.

The question is well how much

are we charging monthly for this?

We're charging $2900.

So, if I were to do the math,

$2900 minus

$2863

.31, we're making

a whopping $36 and 69 cents

per month,

woo!

Now, obviously this is not for the cash flow.

The house has already increased in price due to appreciation

since we've bought it a couple years ago.

And a lot of this cash flow honestly

goes to pay for a manager who takes care

of the entire thing for us.

And there's been some repairs that have been needed

so likely, we're cash flow negative on this over time,

however, just to know that it's in our family

and it's appreciating, as long as the price

goes up on the house, I mean,

it could be that one thing one day where we sell it off

and you know, it's kind of just paying for itself.

We have tenants in there who are likely

gonna be in there for awhile and if not,

this manager's gonna take care of it for us.

We're just dipping our toes in this

and if you get involved with any of these things,

I would recommend you do the same thing,

you just kinda dip your toes

and you learn from people

and you kinda figure things out and you start small

so you can make mistakes and everything will be okay.

I know that a lot of people might be going

oh my gosh, you're trying to real estate

for the first time in San Diego?

But like I said, this house has sentimental value,

we have tenants in there, it's kind of automated already

and I'm happy to pay $50 a month

to lose that and have this house in our family

and to appreciate over time.

So, I think it's a win, what do you guys think?

Maybe one day I'll invest in you know,

multi family housing or you know, business retail,

that sorta stuff, but for right now,

we're having fun with just experimentation.

All right next up, the stock market.

I've been investing a little bit every month

ever since I was the age of 21.

And by little bit I mean even $5 a month,

what I could afford back in the day

when I was in architecture and I couldn't afford anything

to now sometimes investing one, two,

three thousand dollars a month into the stock market.

But right now, here's sort of what my portfolio looks like.

Had a really good day today as you can see, Tesla was up,

which is the majority of my portfolio,

it was up about nine, 10% today,

which means today, just from them alone,

I've been able to advance my account by about $2 thousand.

I've also done very well with AMD and Plug recently,

and I'm not gonna go into the specifics,

I just really wanted support and I invest in companies

that I know a little bit about that I have experience with.

I'm a former Tesla owner, I'm waiting for my Y to come in,

I got rid of my X, and my Tesla X2.

And for most of these, it's more of a long term play,

I'm not playing the shorts or anything like that,

but I do pay attention.

You know this is years and years

of small little investments over time adding up

and we've done really well.

I've had a total gain of about $21 and a half thousand,

so my portfolio is looking good.

It's increased my principal by 42, almost 43%,

which is really amazing.

And again, just supporting companies

that I really believe in, that I do follow the news about,

and I'm just stoked to be in it,

because it's you know, honestly a lot of fun.

But again, it's one of those things

that you could start small with like I did

back when I was 21, and over time,

just continually investing in companies

and dollar cost averaging and you know,

all that kind of stuff, so yeah.

I think it's fun, but if I were to recommend

making money anywhere, it wouldn't be starting with stocks,

that's for sure.

I'd recommend building a business of your own

and honestly I've made way more money

building my own business

and considering them assets as well versus the stock market

or real estate or anything like that.

Next up, I wanna talk about my Amazon business

with my partner Caleb.

He and I, he's my videographer,

we started a physical product company.

We invented something together, this is it right here,

this is called the Switchpod, as you can see on my shirt.

It's a little tripod and you can stick your camera on it,

and when you're ready to go to tripod mode.

Let me do that one more time 'cause I just love that.

So, a lot of people see that we launched this

on Kickstarter in February, March of 2019

and we earned $418 thousand

from nearly five thousand backers, that's very successful.

We've even almost sold out of all the inventory

that we've had in addition to what we've sold

to the backers and it's selling on Amazon

as you can see here.

Today we are generating, you know,

thousands of dollars a day from this thing,

but let me tell you two things about this.

Number one, out of all the business models

that I've talked about, especially online,

this more than anything cuts through the profit margins

with manufacturing, with the legal and the patenting,

and just Amazon fees, and there's just so much involved

to make this thing happen and this is metal by the way,

so it's not cheap to make either.

There's just so much involved.

And so, our profits are eaten up a little bit,

plus we have the tariffs that we had to deal with

last year and this year too.

There's just a lot of things going on.

Now, if you don't invent your own thing,

you're still gonna have to deal with a lot of those things

if you source from China, which most people do.

A lot of brands are doing really well

selling things on Amazon, so we wanted to try it out

and it's not just on Amazon, it's on our Shopify account,

it's on other retail stores too.

Potentially looking at trying to get

into big box retails as well.

It's just a completely different kind of business model.

Now a lot of people see patent, wow,

you guys invented something and now it's a success.

We have yet to really start generating

any personal income from this.

Number one, we're just putting money back into the business.

And number two, from the moment we had the idea,

it's taken about two years to get our first dollar.

We spent about $24 to $30 thousand for prototypes,

for travel, for research and all that stuff,

and there was no guarantee that this thing would sell.

That's why we chose Kickstarter to really prove

and actually have people vote with their dollars

that this thing would work and when it did, it was great,

but even then, it's taken a lot of time,

a lot of investment, over two years in the making,

so this is not something that happened over night.

Quite the opposite actually.

But, it's turning into a really interesting

and fun business model and I'm looking forward

to sharing more with you about it over time.

All right, and finally, let's talk about

the most potentially lucrative, most potentially fulfilling,

and most exciting but hardest,

long term business model there is out there.

For me, in my opinion, that is building

a platform based business, that is your podcasts, your blog,

your YouTube channel, your social channels,

or a combination of using all of those things,

plus an email list for you to build trust,

to build a reputation, to build relationships

with other people in the same space as you,

to solve people's problems, to build a business

that allows you to entertain and inform

and educate people all at the same time

so that you can have a ton of options.

For example, coaching or creating digital products,

creating events, things that I've all had a hand in.

For example, this past year, I ran an event

called Flynncon where I got up on stage,

500 entrepreneurs came to town in San Diego.

We had a blast for two and a half days

and that's jut one of the many types of business models

that a platform-based business can take advantage of.

I've spent 12 years building my authority online,

12 years.

I've only recently started getting serious here on YouTube.

My podcast has just passed 65 million downloads.

A platform allows you to have a voice.

A voice allows you to build trust.

And that tribe then will listen to you,

to your recommendations, they will take your online courses,

they will buy your products that you come out with,

but it takes a long time to get there.

Some people go kinda 50% the way there,

then they get distracted by this thing and that thing

and the squirrel syndrome takes place

but it's those who dedicate time to nurturing an audience

to potentially build super fans.

Superfans is now available on Amazon

and anywhere good books are sold.

But here's the other truth about this.

I have a team of seven people now.

I never thought getting into business

that I would have a team and become

the CEO of a company with responsibilities.

And if you would've asked my earlier, younger self

if that's what you wanted, my answer would've been no.

But you know what's been the best part of this whole thing?

The best part of this whole thing is being able

to take the success and turn it into something

that has an effect on people around the world,

who probably don't even know I exist.

We've built schools around the world

in places like Ghana, Africa.

I even went to Africa in 2015

to see some of the schools that we built,

meet the teachers and the students

whose lives we've changed.

Thanks to Team Flynn, that's many of you,

and some campaigns we've run in conjunction

with Pencils of Promise.

Sure, you could have success in real estate

by having rows and rows of houses,

by having duplexes and triplexes and quadplexes

and I don't even know what exists right now.

And sure, you could own a stock portfolio

that can pay you back a hundred thousand times,

but what does that all matter?

What matters is your happiness

and helping and impacting the lives of others.

We didn't even talk about advertising and sponsorships

and all these other companies when you build a big audience

and a brand and trust with people,

how much money they'll throw at you to get in front of them.

You need to take responsibility.

If you build that big brand, you need to take responsibility

because with great power, comes great responsibility.

And it might potentially take years

to earn the trust of people on the Internet,

but it can just take a moment to lose it all.

So, I hope you've enjoyed this video

and it gives you a little bit of insight

on some of the things I'm working on.

I haven't even gone over everything yet.

But I plan to do so, so make sure you hit subscribe

if you haven't already, and I just wanna thank you,

again, for being part of Team Flynn

and if you're a brand new member

and you just hit subscribe today, it's great to meet you.

I'm looking forward to chatting with you in the comments

and in future videos.

Until then, my name is Pat Flynn,

here to help you make more money, save more time,

and help more people too.

Thank you so much, and as always, Team Flynn for the Win.

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