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Old 08-07-2008, 09:23 AM
 
Location: Boston, MA
626 posts, read 952,465 times
Reputation: 323

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During these times of economic uncertainty, I believe that we should be looking for additional income stream beyond our primary occupation. I wanted to start a discussion on passive income sources, to see if there are folks who are making $ using a bit of their brain and lots of hard work.

Passive income is defined as income from side businesses, real estate, stock trading and anything else that allows you to make money without an intensive involvement.

Personally, I am planning on purchasing a service oriented business this month, that should bring in an extra few hundred dollars a month.
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Old 08-08-2008, 07:04 AM
 
Location: Forests of Maine
29,738 posts, read 47,532,009 times
Reputation: 17595
It is my understanding that with passive income streams you are limited on how much loss you can claim.
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Old 08-08-2008, 07:44 AM
 
24,843 posts, read 31,273,373 times
Reputation: 11428
Quote:
Originally Posted by forest beekeeper View Post
It is my understanding that with passive income streams you are limited on how much loss you can claim.
You are correct. IMO, you either have an investment or you don't.
Don't go there with the IRS.
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Old 08-08-2008, 07:45 AM
 
24,843 posts, read 31,273,373 times
Reputation: 11428
Quote:
Originally Posted by New Englander View Post
During these times of economic uncertainty, I believe that we should be looking for additional income stream beyond our primary occupation. I wanted to start a discussion on passive income sources, to see if there are folks who are making $ using a bit of their brain and lots of hard work.

Passive income is defined as income from side businesses, real estate, stock trading and anything else that allows you to make money without an intensive involvement.

Personally, I am planning on purchasing a service oriented business this month, that should bring in an extra few hundred dollars a month.
This is a business.
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Old 08-08-2008, 08:02 AM
 
Location: Forests of Maine
29,738 posts, read 47,532,009 times
Reputation: 17595
I prefer having multiple active income investments.

I can choose each year how much one activity will 'profit' or lose, depending upon how much sheltering I need that year.
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Old 08-08-2008, 09:01 AM
 
24,843 posts, read 31,273,373 times
Reputation: 11428
Quote:
Originally Posted by forest beekeeper View Post
I prefer having multiple active income investments.

I can choose each year how much one activity will 'profit' or lose, depending upon how much sheltering I need that year.
That is SMART!!!!
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Old 08-13-2008, 12:04 PM
 
Location: New York City
1,836 posts, read 2,834,586 times
Reputation: 378
Ok, so help out the OP then...

what are some ACTIVE income investments out there that average people can particiapte in?
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Old 08-13-2008, 12:40 PM
 
Location: Forests of Maine
29,738 posts, read 47,532,009 times
Reputation: 17595
Quote:
Originally Posted by BK2Westchester View Post
Ok, so help out the OP then...

what are some ACTIVE income investments out there that average people can particiapte in?
Active investment activities could be schedule 'C' or 'E' or 'F' activities.



1. A schedule 'E' investment:

We began collecting apartment buildings in 1985. Zero-down mortgages, owner-occupied, and leasing only to lower income people.

Being in the US Navy, I was stationed one place for three years and then transferred somewhere else. So we collected these properties in widely arranged locations.



2. A schedule 'C' investment;

We once operated a laundromat. Sailor could drop-off their laundry on our doorstep, and pick it up again 4 hours later ready to go. My wife hired a group of other sailor's wives and they all 'networked' the laundry. On a day when a boat came in, that evening the sailors would get 6 hours of liberty, so they would come off the pier in groups all carrying their laundry. The ladies did the laundry and the sailors picked it up again as they returned to the pier.

We once operated a party catering service. Shipborne workshops would be required to have a division party. The Division Officers commonly would not decide to have such a party until maybe noon on the day when they want ed to have such a party. So they would call us, wanting to provide party food for 200 men, in four hours. So again my wife pre-cooked 'lumpia' [a finger sized egg-roll] and froze them in 1 pound bags. When a call came in for a party, she would count out so many bags and put them into a steamer. At the party, her group of wives would serve those lumpia on platters.

Currently my wife makes a selection of soaps.



A schedule 'F' investment;
I keep beehives.
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Old 08-13-2008, 03:26 PM
 
Location: Sacramento, CA
132 posts, read 470,238 times
Reputation: 42
Forex is what I'm involved in. Average return of 10%-20% over a 17 month period, using a semi-automated robot. Worst month was in April, at 3%, best was 45% return. If you place $2k you could have close to $5k one year later with the company I do business with.

Software is institutional-grade, forex trading platform.

-Angel
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