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How many streams of income do you have?

Streams of income?

  • 1

    Votes: 34 45.3%
  • 2

    Votes: 23 30.7%
  • 3

    Votes: 10 13.3%
  • 4

    Votes: 3 4.0%
  • 5

    Votes: 4 5.3%
  • 6

    Votes: 1 1.3%
  • 7

    Votes: 0 0.0%
  • 8 +

    Votes: 0 0.0%

  • Total voters
    75

German Hops

Member
Apparently this is a bit of an old saying, that millionaires have seven different streams of income, but it’s something that I just came across over the weekend. Of course this doesn’t just pertain to millionaires, but I’m wondering, how many different streams of income do you have? Would you care to share what they are?

My girlfriend and I both work and invest, but I want additional revenue streams. We're young, so we're planning on getting cash flow positive rental property in the future, and I attend auctions then later sell goods - this is much better than any part time gig, but not exactly passive. Any outside the box ideas other than "write an ebook, start a blog, etc".. I am quite familiar with eCommerce, but finding a niche product that can be easily drop shipped seems to be a challenge, just so much saturation out there these days.

 

Kenpachii

Member
3.
Renting houses out, pays for all my montly costs etc.
my own company, most of my income
work for my dads company sometimes whenever i got little to do which is small income tho and nothing really relevant, but still pays for some stuff.

So basically 3.
 

OmegaSupreme

advanced basic bitch
3.
Renting houses out, pays for all my montly costs etc.
my own company, most of my income
work for my dads company sometimes whenever i got little to do which is small income tho and nothing really relevant, but still pays for some stuff.

So basically 3.
You're a landlord?! REEEEEE! Seriously though I don't understand why those people hate landlords so much now. Was that always a thing?

I've just got my job. Thinking of starting an only fans where I read manga topless.
 
I put two, job and investing but toying with three as I could contract a bit. Not sure yet if it’s worth it to me as obviously it would have to be after hours.
 

Kenpachii

Member
You're a landlord?! REEEEEE! Seriously though I don't understand why those people hate landlords so much now. Was that always a thing?

I've just got my job. Thinking of starting an only fans where I read manga topless.

I know, because some people have insane amounts of houses and raise rent because they can and kick people out of those houses even after 10 years of renting because more money. one of our princes for example owns half amsterdam and dude is a major dick which results in half the city hating landlords with a passion.

I have 3 small houses near a water area that nobody wanted at the time but because of space shortage its now a hot spot which i lucked out with it ( lots of houses are now builded next towards it and prices go up dramatically ). As they wanted to demolish it to plant some more tree's on it at the time but found even that to expensive, i bought it up with the requirement i had to restore it and maintain the area. Which worked out really well for me as i paid peanuts for it, rebuild them and now rent them out to a lawyer firm that has starting out people live in there for there first 2 years at the office. They love it there because tons of freedom and everything they want to do they can + i ask half of what they get from that firm for rent which means they basically get a good chunk of extra money to spend and they help me with my legal problems whenever i want for free :messenger_sunglasses:.
 

German Hops

Member
Also, with my side hustles, I am able to save 75-100% of my full-time monthly income. Without the side hustles, I would probably be saving around 30-40% of my full-time income and have to wait a year to get a 3% merit increase.

I like being able to control my income and make more money per month if I want to, depending on how hard I work on the side.
 

Mikey Jr.

Member
You're a landlord?! REEEEEE! Seriously though I don't understand why those people hate landlords so much now. Was that always a thing?

I've just got my job. Thinking of starting an only fans where I read manga topless.

Fuckers like these don't help....


"Condo developer plans to buy $1-billion worth of single-family houses in Canada for rentals"

 

StreetsofBeige

Gold Member
Not sure if this all counts, but....

1. Day job
2. The company matches a certain portion of my pay stub contributions and shoves it into a Sun Life account
3. Stocks (including dividend paying stocks)

Soon it'll be 4. Investment property will be up soon so going to get rent. Based on my estimated mortgage needed, monthly costs and rental estimate, I should be breaking even every month on the rent. Which is good so I'll be cash flow neutral. Properties price go up here probably 5%+ per year and the ballpark equity I'll make on the monthly breakeven is about $650 on a $1000 monthly mortgage. One year worth of home appreciation and equity will cover all closing costs when I sell it. I'll probably dump it after 3-4 years.
 

StreetsofBeige

Gold Member
You're a landlord?! REEEEEE! Seriously though I don't understand why those people hate landlords so much now. Was that always a thing?

I've just got my job. Thinking of starting an only fans where I read manga topless.
Probably because social media gives renters an outlet to vent and the past 10 years properties have jacked up a lot in many cities.

Some reason they blame landlords, when all landlords are doing is same thing (since the first landlord 1000s of years ago). Put up and risk some money into another property, hope the tenant isnt an asshole ruining the place or is a deadbeat, and sell it later to the highest bidder.

No different than Ebay seller trying to sell stereo equipment. Sell it to whomever wants to pay the most.

If anything, renters should be blaming government and banks. The reason why home prices have skyrocketed is due to stupidly low mortgage rates (around 2%) so banks qualify people with giant sums of money to buy places (bidding wars), and western governments love accepting immigrants which boosts the demand and home builders cant keep up. Thats why they focus on many condo towers instead of big plots of land with rows of family homes. It also doesnt help that city policy affects where things are built, so even if a home builder wants to build in certain locations and style of home, the city may only permit high density buildings (condos and crowded townhoue complexes) and in certain areas. So that can affect home prices as anyone wanting a nice 3-4 bedroom home with a double car garage, well good luck because the city isn't giving permits for those kinds of suburban middle of nowhere developments. So if you want a big home, get ready to bid on an existing 30 year home like everyone else wanting the same thing, as neither of you want a tiny condo that are going up every week. If anyone out there thinks the typical immigrant is dead broke and lives in social housing, youre wrong. Many have big wallets and amp up the price in bidding wars.

Government also want higher property prices too. No matter what you hear about politicians saying prices are too high etc.... thats all BS because the higher the property price, the higher the appraised value, which means higher property taxes. The last thing they want is a big meltdown, people lose jobs, default, go on social assistance and their homes are appraised at a lower value gimping property taxes. Of course, as long as the economy picks back up, it's a non issue because government property appraisals are done for multi year ahead of time (I think mine is done in blocks of 5 years), so unless the city drops like a rock for a decade (city loses population or becomes a ghost town), the future home appraisal done by a government worker will rebound by then and it'll keep going up.

Compared to the 70s and 80s when there wasnt huge group of people all trying to buy homes and mortgage rates from 8-15% (which sounds ridiculous what some parents had to pay at the time) and no wonder nice family homes were less than $100,000. I'm sure some of you out there had parents buying a house 40 years ago for only $80,000 depending where you lived.
 
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rofif

Gold Member
I work
My wife works... so 2 streams... but it's kinda unfair since I make double she does... so we could take hit if she lost her job but not me
 

Nitty_Grimes

Made a crappy phPBB forum once ... once.
Full time job and some eBay shit on the side that’s ticking over nicely at the minute.
 

Mihos

Gold Member
Full time job, wife's full time job, there is also 7 of us in an LLC that buys/flips apartment complexes. Regular investment stuff, and occasionally refurbing/rgb modding and selling old game systems.

We have a ton of money in the LLC, but will be getting out of that in few years and retiring
 

AlteredForms

Gold Member
Apparently this is a bit of an old saying, that millionaires have seven different streams of income, but it’s something that I just came across over the weekend. Of course this doesn’t just pertain to millionaires, but I’m wondering, how many different streams of income do you have? Would you care to share what they are?

My girlfriend and I both work and invest, but I want additional revenue streams. We're young, so we're planning on getting cash flow positive rental property in the future, and I attend auctions then later sell goods - this is much better than any part time gig, but not exactly passive. Any outside the box ideas other than "write an ebook, start a blog, etc".. I am quite familiar with eCommerce, but finding a niche product that can be easily drop shipped seems to be a challenge, just so much saturation out there these days.


 

Pagusas

Elden Member
4.
My salary from my full time job
My wife’s salary from her full time job
My own business income
Our investments

I intend to start a rental property soon too in the next few years to open up a 5th income stream.
 

Blade2.0

Member
I thought about starting and only fans for foot fetishists ( I got size 14s). But would they want to look at guys feet? Are there women foot fetishists?

Edit: some may read this as a joke but I've actually thought about doing this.
 
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Probably because social media gives renters an outlet to vent and the past 10 years properties have jacked up a lot in many cities.

Some reason they blame landlords, when all landlords are doing is same thing (since the first landlord 1000s of years ago). Put up and risk some money into another property, hope the tenant isnt an asshole ruining the place or is a deadbeat, and sell it later to the highest bidder.

No different than Ebay seller trying to sell stereo equipment. Sell it to whomever wants to pay the most.

If anything, renters should be blaming government and banks. The reason why home prices have skyrocketed is due to stupidly low mortgage rates (around 2%) so banks qualify people with giant sums of money to buy places (bidding wars), and western governments love accepting immigrants which boosts the demand and home builders cant keep up. Thats why they focus on many condo towers instead of big plots of land with rows of family homes. It also doesnt help that city policy affects where things are built, so even if a home builder wants to build in certain locations and style of home, the city may only permit high density buildings (condos and crowded townhoue complexes) and in certain areas. So that can affect home prices as anyone wanting a nice 3-4 bedroom home with a double car garage, well good luck because the city isn't giving permits for those kinds of suburban middle of nowhere developments. So if you want a big home, get ready to bid on an existing 30 year home like everyone else wanting the same thing, as neither of you want a tiny condo that are going up every week. If anyone out there thinks the typical immigrant is dead broke and lives in social housing, youre wrong. Many have big wallets and amp up the price in bidding wars.

Government also want higher property prices too. No matter what you hear about politicians saying prices are too high etc.... thats all BS because the higher the property price, the higher the appraised value, which means higher property taxes. The last thing they want is a big meltdown, people lose jobs, default, go on social assistance and their homes are appraised at a lower value gimping property taxes. Of course, as long as the economy picks back up, it's a non issue because government property appraisals are done for multi year ahead of time (I think mine is done in blocks of 5 years), so unless the city drops like a rock for a decade (city loses population or becomes a ghost town), the future home appraisal done by a government worker will rebound by then and it'll keep going up.

Compared to the 70s and 80s when there wasnt huge group of people all trying to buy homes and mortgage rates from 8-15% (which sounds ridiculous what some parents had to pay at the time) and no wonder nice family homes were less than $100,000. I'm sure some of you out there had parents buying a house 40 years ago for only $80,000 depending where you lived.
That's a lot of words to basically say "Quantitative Easing exacerbates wealth inequality"

I hate real estate but right now as long as QE is infinity I'll just keep investing in STONKS, it's not like a stock market crash won't also wreck housing now because of how tightly they are linked by QE policy.
 
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TurnOneYeti

Member
I do a full-time care giving job that pays terrible, and I uber/door dash for 5-6 hours a week. The rest is just interest generated on my investments/savings. So I guess 3?
 

StreetsofBeige

Gold Member
That's a lot of words to basically say "Quantitative Easing exacerbates wealth inequality"

I hate real estate but right now as long as QE is infinity I'll just keep investing in STONKS, it's not like a stock market crash won't also wreck housing now because of how tightly they are linked by QE policy.
Basically ya!

Easing loans helps richer people more as they bid up prices for that dream home, or split their qualifications into a home and investment property. High mortgage rates scare off everyone, and qualifies people still eager to buy with tiny amounts, so more people will just sit tight and prices can only get bid up so much. At least in this situation, home prices should drop and give poor people a chance later when they scrape up money (like how decades ago nobody was doing giant bidding wars even though home prices were dirt cheap).
 
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What are you invested in? I get more than that off of less than 30k. You sure you didn't mean to say 500 a month?

a lot of my positions don’t pay any dividends. 300 shares of AMD. 100 shares of AAPL (pays less than 1% I believe). I have 650 shares of PLTR, 600 of NIO, a lot of mutual funds (PRSCX, TRBCx AGTHX, BPTRX). I have 15 grand in VOO which pays like 1.3%. Planning on putting future money into the S&P500 for that nice dividend.
 

StreetsofBeige

Gold Member
If you have a duplex with tenants... does that count as 2 streams?
I'd count that as two discrete revenue streams. One tenant leaves, you still got the other. But it's classified as one type of revenue stream (rental income)
 
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StreetsofBeige

Gold Member
Now that I think of it, revenue streams can be type of stream and number in a stream. I'll redo mine.

Type 1 - Work
- Salary
- Annual Bonus
- RRSP matching

Type 2 - Investments
- Stock appreciation
- Stock dividends
- Real estate properties (appreciation and rental income when the property is up)
- Index funds (like RRSP matched funds by work)

Type 3 - Money market/bank interest
- High interest savings account. Sounds skimpy, but when I save cash for investment property down payments, I got like $200,000 at a time set aside I cant risk in a shitty stock market and it drops -30%. So I used to get (when rates were higher), $4000-5000 in interest/yr. As down payments crop up, the interest income drops too. When rates are better, you can find 2.5% interest savings accounts if you look hard enough. Mine paid 2.7% before covid meltdown nailed it down to 1.1%

That's it for me. I dont have the willpower or skills to do side jobs. Some people I know do contracting/landscaping on the side. I'm the last guy you want hammering shit in your house. Some I know run websites. Some sell sports cards and collectibles on Ebay. One person at an old job was an Avon Lady, and some others do Pampered Chef. Some are real estate agents after work (I have no idea how the fuck they do this since you'd think some of it requires immediate action).
 

betrayal

Banned
- job
- ETFs/stocks
- income from real estate rentals
- various more classic investments for later life.

In my opinion, it should look like this for almost everyone. It's all doable even with a normal average job. You just have to do it - the sooner the better.
Older people or people who have no idea about it always think they know better and advise against such things, but they are still living in the past or have never bothered with the topic.
 

Pagusas

Elden Member
- job
- ETFs/stocks
- income from real estate rentals
- various more classic investments for later life.

In my opinion, it should look like this for almost everyone. It's all doable even with a normal average job. You just have to do it - the sooner the better.
Older people or people who have no idea about it always think they know better and advise against such things, but they are still living in the past or have never bothered with the topic.
But you see... that takes WORK. and people.. they dont want to work. Even if you and I think that's like the bare simplest thing, and we both probably started out with $5 to our name and made it work, others look at that and see "effort/time" that takes them away from their TikTok and Soap Operas.
 
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