Comments on: Alternative Income – Residual Streams

By: Lazy Man

Lazy Man — Sat, 01 Mar 2008 20:10:23 +0000

Conrad… It’s not easy. If it were, everyone would do it and everyone would be rich. I found that starting this website and other websites helped me accomplish the goal to some extent. Other people might find that they are able to repair cars and other things in their spare time. Still others invest the money they currently have to make money. There’s no one-size-fits all.

By: conrad pringle

conrad pringle — Sat, 01 Mar 2008 18:05:43 +0000

Hello lazy man!I am 54 working for 20yrs and raising my son and my daughter by myself. my wife left for greener pastures and i am trying to make sure my kids can earn a decent living. as for me i was born in jamaica and due to working and not having enough money. i cant even to visit once in a while. how do i make some residual income to do so

By: Neely O'Hara

Neely O'Hara — Wed, 18 Jul 2007 03:45:03 +0000

Filling out surveys is a joke. Like Amber said, you have to sign up for a LOT before you can make any money — and you have to factor in the value of your time. Not a winning proposition….

And a lot of them bait you with “free points” or “$250 of free groceries,” but you do have to sign up for credit cards or enter your credit card no. for product “trials” before you get your so-called reward. Too risky — I don’t want to have to remember to cancel all that crap in time. I’ll pass, thanks.

By: jeanjeanie

jeanjeanie — Thu, 12 Jul 2007 17:53:14 +0000

So far I’ve made a fair bit of extra income problogging, and I recently started doing surveys and signed up for Inbox Dollars. It’s too soon yet to tell whether those will really be worth my time. I’ve also got an Etsy shop to sell handknit good and handmade knitting supplies, but so far I’ve made a whopping ONE sale. I’ve also submitted a few Associated Content articles. I’m a bit of a perfectionist when it comes to “publishing” anything with my name on it, so I think I tend to spend a lot more time on my articles than is necessary to meet their standards. I keep intending to submit articles to real publications instead, but then I get lazy.

You’ve got me seriously considering putting some funds into Prosper, but I’ve still got quite a bit of debt, and I tend to think I’d be better off putting all my extra money toward paying off the credit cards before I worry about investing it.

By: Mike

Mike — Wed, 11 Jul 2007 21:48:19 +0000

The focus on residuals brings up something I've observed. I had a few websites that I ran for fun, and put ads on them just to see what happened. I stopped working on them when I had my first kid. They weren't blog-type sites, and the material on them ages well. Low and behold, there's still a (small) but steady ad stream from the sites. A surprise to me. Mike

By: JM

JM — Mon, 09 Jul 2007 20:20:10 +0000

Ticket brokering, aka SCALPING, is despicable. All you are doing is making it more difficult for people who legitimately want to see their favorite musical act. Its true that its the unfortunate natural side-effect of a broken distribution monopoly, but its despicable none-the-less.

By: Customers Revenge

Customers Revenge — Fri, 06 Jul 2007 16:16:15 +0000

I like how you focus on the alternate streams, especially your repeated mention of Prosper. We don't have that in Canada, but I suspect that it will come soon. I wrote a little article about it called Peer-to-Peer Lending: Bankers Take Notice! because the way you and others use Prosper is basically cutting out how banks make a lot of their cash. I think there is a lot of wealth potential, for society in general, from opening up the business of lending to the common person. Before this they had to gamble on stocks or really needed a lot of cash to buy things like real estate or business. But Prosper lets people run a little lending business with as little as they may have.

By: broknowrchlatr

broknowrchlatr — Fri, 06 Jul 2007 12:13:33 +0000

Back in the day, I made a couple thousand bucks in poker bonuses. They made you play 4-5 hands for every $1 in bonus. At the time, you could play very conservatively at the cheapest table and get it done really easily.

More recently (before it became illegal) they changed it to having to play 10-20 hands per $1 of bonus. For this, there was a more complicated way to win. Deposite $100, get $100 bonus. Play a little and withdrawal the original $100. Now you are just playing with their money. Then, either play at the casino part of their site (bet $100 on black and repeat) or use the $100 as entry to a single table tournement (where first place is $500. Once you get $400 – $500, then it is worth it to play all the hands to get it out. If you bust, leave the site havign lost nothing.

By: MoneyNing

MoneyNing — Thu, 05 Jul 2007 22:21:07 +0000

Blogging is hard work! It is something we are passionate about though so that makes up for it. You might want to link to Digerati’s site (you wrote in your article about the link) since I’m sure she would love the link back!

By: dong

dong — Thu, 05 Jul 2007 20:09:04 +0000

Royalties and other rents are the way to go if you can produce them. Too bad, I never made it as a rock star.

By: Amber Yount

Amber Yount — Thu, 05 Jul 2007 19:10:43 +0000

Not all survey sites require credit cards, in fact many are free…i do them dailey, but your still not looking at very much money, even after signing up for about 20 sites.

By: Moneymonk

Moneymonk — Thu, 05 Jul 2007 17:18:16 +0000

I not into online surveys because so many requires a credit cards to sign up to get the money. In the end, you have be sure to cancel the membership. I want my money up front with no strings attached. Affliates and ticket brokering and cc arbitrage takes time again it is not my cup of tea.

By: aj

aj — Thu, 05 Jul 2007 17:05:35 +0000

Ive done a few of the things you mentioned above. Here are my thoughts:
1) Selling on Ebay – Ive done it successfully. To maximize your opportunity for success, you have to be “at the right place at the right time.” For example, the US Mint just came out with some gold coins called the “First Spouse” series. They sold out within 2 hours. I made about 75% return in less than a week. Basically, find out whats hot and be there when it goes on sale.
2) Credit card arbitrage – Something ive been looking to get into but have been “lazy.” The only way you can successfully pull this off is to BE ON TOP OF IT! Miss one payment, and it will wipe out any gains you will make.
3) Ticket brokering – Ive done this as well. Like #1 above, you gotta be at the right place at the right time. That right place is ticketmaster and the right time is PRESALES and initial sales. For example, a couple years ago, during Prince’s comeback tour at the staples center, I made it my business to be online at 12:00 pm with ticketmaster.com loaded and ready to go. As soon as they went on sale I bought 8 tickets before they sold out (in under an hour). I immediately went on ebay and made 100% on my money.
4) Poker bonuses – You can make money but its risky. When they give the bonuses, most places have required amount of “raked hands” that must be played in order to cash out. During this time of “forced play” you can not only lose your bonus but also your initial investment. I’m not sure i would recommend this avenue unless you actually want to play poker.

Hope this helps someone!

By: Jon @ The Money Mythos

Jon @ The Money Mythos — Thu, 05 Jul 2007 16:48:34 +0000

Poker bonuses used to be incredible. You would sign up at a poker site, deposit something like $50 or $100, and then play a certain number of hands. By “play” it just means being in games where people put money towards the ante, so in essence you never really had to play if you didn’t want to. After you met the required number of hands, you would be given anywhere from $100-$1000, depending on your initial deposit.

In a few months I made a very nice amount of money from the bonuses (not even including the poker winnings). Unfortunately, I don’t see how this is remotely possible now after the U.S. passed that law a few months ago pretty much banning online poker.