SUMMARY Building diverse passive income streams through various online and entrepreneurial ventures can lead to financial freedom and the ability to give back.
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Hey, everyone. I want to talk about passive income today. Warren Buffett,
the second most famous person to come out of Nebraska after James Pelton, of course,
says that if you don't find a way to make money while you sleep, you will be working until you
die. So for the last couple of years, I've been on the lookout for passive income. And I want to
just talk about my top 10 passive income plays right now. If I was starting right now, if I was
you and I don't have passive income, these are the things that I would be looking at right now.
And my goal in passive income used to be that I just want to be really rich. I saw the things
that rich people could get. And I thought, Hey, that looks really nice. I would like that.
Through my journey. I've learned that what the Bible says is true. That chasing wealth
is like chasing the wind. Once you get to it, it's like, there's, there's nothing there.
There's nothing of substance there. So one thing I really want to get across to my subscribers
is don't increase your income just to get more things. Okay. That will be disappointing.
You'll come back and say, James, why'd you help me make all this money? It didn't help my life
in any way. We don't make more money to improve our standard of living. We make more money to
improve our standard of giving. So again, you can turn temporary wealth into eternal treasures.
The book of James and the Bible says, pure religion is to visit widows and orphans in
their distress to take care, particularly of those who can't take care of themselves.
So that's what I want to do. And that's what I want you to do as well. Jesus says,
it makes you happier to give than to receive. And I want you to be happy.
So let's jump into the list. And these are all passive income methods that I have used.
These are what I use to pay my bills currently. So first one, we'll talk about our online training
courses. So if you have expertise or passion in some area, chances are there are other people
who also have that passion. So if you can solve a particular problem for a niche of people,
then you have a training course ready to go. You can use Kajabi or Teachable or Udemy. There's
all sorts of online course programs out there. And I'm a big fan of using chat GPT, using AI
to help get your ideas together for a training course. So for example, I'm an expert golfer.
This is not true. This is just for the video. I just started golfing very bad, 30 handicap.
I'm an expert golfer. I want to teach others how to drive far. Can you generate a training course
title, description, and outline for this course? So you can see chat GPT put together mastering
the long drive techniques for driving further in golf, golf, golf. How do you pronounce it?
Golf. Let me know in the comments down below. And it even puts together the outline for you.
So again, you don't have to follow this exactly. In fact, I'd recommend you don't
use your personal knowledge. Work that in. Say I have a special swing technique. Please incorporate
that into the course. You don't even have to spell correctly with chat GPT, but you can see
when I tell chat GPT, I give it some extra info and it incorporates what I said into the course.
So you can use chat GPT to go back and forth. Ideate word of the day. You can do video. If
you're not comfortable on video, obviously that's the format I like. I don't like writing.
I prefer just talking, but if you don't like being on camera, you can do just written.
You can use AI to generate images, but once you get a training course out there,
you know, there's a lot of work up front and most of these passive income ideas,
there'll be a lot of work up front, but once you get it set up, it becomes an income stream going
forward. I just the other day got a sale from a training course I made. It was like seven or eight
years ago and still had $80 come in from this training course. But if you want to get started
with that, just hop on Kajabi, create an account, click new training course, and then just start
filling it in. And again, you can use AI to help in areas where you aren't comfortable or aren't
sure what to do. So number two, passive income method is affiliate sales. What affiliate sales
are, are you promote someone else's product so you don't have to build it yourself. You share
their product and then anytime someone buys it, you make a portion. You get a commission, we'll say.
So the easiest places to get started as an affiliate, Amazon Associates. So if you have
products that you really like and you want to share with an audience, you want to start building an
audience and then sharing your products with an audience, Amazon Associates is the way to go. You
want to share it. And then when anyone buys it, you get a percentage of that sale. So you could
start a blog where you just review cameras or something like that. You leave your affiliate
links for all the cameras in your reviews. Then anytime someone goes to your page, they read your
reviews, they click the link to buy one of the cameras. You make some money from that. It becomes
an income stream going forward. So Amazon is a great place to do this. Click bank is another
place where they just have a database of affiliate offers. So here are different programs that people
will pay you to promote. And again, I love you can do reviews of these different programs. You do
want to be a little careful ethically because I think it can be unethical. If you share products
you don't actually like, you've never used them and you share them and say, hey, buy this just
because you want the affiliate commission. So you'll have to work through that ethically on
your side. I have no problem with referral programs, affiliate programs, as long as it's a
product that I like and that I would use myself. But click bank is a great place to find these.
There's also share a sale is another one. And actually a new one that's popping up that I'm
going to be partnered with is called shop Lee. So stay tuned for more info on shop Lee that is
coming soon. So number three, passive income method is e-commerce. And again, this doesn't
start out passively when you start selling something online. At first, it's going to be
a lot of work to get your store set up and all these things, but then you can get VA's virtual
assistance and you can get these to run your store and it becomes passive for you over time.
That's usually the approach I take to passive income is I set it up. I run it for the first
few weeks, whatever the different program is. And then I try to outsource it. I try to get
VA's to take care of the day-to-day grind. There's a lot of ways that you could do this.
You can start your own Etsy store. I've done videos on like selling AI generated art on Etsy.
That's one way you could do it. You can do fulfilled by Amazon. So that's basically
Amazon is your marketplace. You can do Amazon dropshipping where you sell things on Amazon.
Then you go buy them on eBay or somewhere cheaper. And I brought on several companies that will do
this for you. So they'll even do the setup and everything for you. Motive automation. Jose
is one that we've had good success with. I have friends. This is a Gary Vanderchuck thing,
but you go around to garage sales and just look, look for, look at the books.
Some of those books, you know, they're selling them for 25 cents just to get them out of your
house. You check them on Amazon and they sell for $40, $50. So e-commerce is the number three
passive income method number four. And this one's going to be boring going back to traditional
markets, but real estate, you can't talk about passive income without talking about real estate.
So you can do this yourself. You can save up some money, buy a duplex. You live in one side,
you rent out the other side. You can buy a two bedroom duplex for you to live by yourself.
And you Airbnb out one of the rooms. You can do something like fractional,
which allows you to kind of co-invest in different real estate projects.
Fundrise is similar. It's kind of a REIT of sort, a real estate investment trust.
And these aren't going to get great returns, especially with market conditions, the way they
are like Fundrise Fundrise did negative 7% last year. But if you find the right deals,
and that's what I love about fractional is you can rely on someone else's expertise.
If you don't really know what you're doing, but real estate, great way to make money.
You're getting equity in the property and they're paying rent. So ideally you can find some
locations where the rent that you're being paid covers your mortgage, and then you're just building
equity. But a vast majority of wealthy people became wealthy through real estate. Number five,
passive income method is crypto. And I don't mean DeFi. I'm kind of burned out on DeFi in general,
but you can buy blue chips. You can buy Bitcoin, Ethereum, XRP, USDT, USDC, and you can wait for
those assets to go up the price of Bitcoin. We're actually, when I'm recording this,
we're kind of in the middle of a crash, which is a good time to get in.
Again, I got tons of messages when Bitcoin reached all time high a few months ago.
I got all these messages saying, Hey, I saw Bitcoin is up. How can I buy it?
That is not when you want to buy. You want to buy when it's low,
buy when other people are afraid. But when you buy you, the asset can appreciate,
which gets you passive income, but you can also get APY that's annual percentage yield just from
staking your crypto. So USDC is a stable coin. You can get 5.6% annually by staking it on Coinbase
right now. So that can become an income stream for you. Number six is the Amazon influencer
program. This is similar to affiliate marketing, but Amazon has a newer program,
newer program been going through puberty for the last 20 years. But basically you sign up,
you record review videos of products that you bought on Amazon. Amazon puts your reviews on
the product pages. And then if anyone watches those reviews and then buys the product,
you get somewhere between two to 6% of that sale. So again, there's a little bit of setup.
You have to record the videos and put them up there, but then that becomes a passive income
stream. And I have some of my review videos up that are making two or $3 a day, just perpetually.
Okay. So you record a video, upload it. And now it's a $3 a day income stream. And I recorded a
full video on how to use the Amazon influencer program. You have to show Amazon that you are
an influencer, but that's very easy. You just create a Tik TOK account, upload motivational
quotes, and pretty soon you get thousand, 2000, 5,000 followers and voila, you are officially an
influencer. I've also worked with Kyle from profitable products and he has a done for you
program with the Amazon reviews and people from my community are doing very well. We have one,
one guy from my community. That's made $61,000 in about a year through Kyle's program.
So I'll leave the link to that video. If you want to learn more about that,
but a great passive income play right now. What am I top? We'll keep paying my bills right now.
Crypto is down. Honestly, financially, some things have been a little tighter and a little rougher,
but the Amazon reviews program is something that's been keeping me afloat.
Number eight is vending machines. So you guys know I've kind of been on a vending machine journey
here and it is, it's a lot of work up front. You have to find the right places to place the
vending machines. You have to set up meetings. You have to go to the meetings. That's been a pain,
but again, once you get a good vending machine in a good placement,
that becomes a passive income machine. Month after month, you'll just get your money from it.
And a lot of the vending machines have zero down financing so you can scale very easily.
They let you just use the profits from the vending machine to pay for the vending machine itself.
And I've been partnered with Mike Hoffman of vendingpreneurs. So he has a training course.
He has a full program where they walk you through the process, help you find placements,
things like that. But he's been very easy to work with. And many people, he has lots of
testimonials of people who went from zero knowledge of vending machines, not even really considering
it to now they're making multiple four figures, some five figures per month with their vending
machine empires. These are all people that went through his program and were successful.
And the number, are we on number nine? I lost count. But the number nine passive income stream
is Kindle direct publishing. So I've done many videos on this because I think it's one of the
best ways to start an income stream that doesn't require money upfront. But Amazon has a program
where you can upload a PDF of a book or a guide or something that you'd put on Amazon.
They'll put it for sale in the Amazon store where they're selling, you know, $1.6 billion per day.
A lot of people there, a lot of people looking. And then when someone buys a hard copy of your
book that you just uploaded a PDF, they'll print it into a soft cover, a hard cover.
Kindle, you can do an audio book. They'll ship it to the person. They'll get it to the person.
They'll take a small percentage and then they give you a majority of it. So really becomes,
there's no money down. You just create something. Again, you can use chat GPT to help in the
creation process. Then you put it for sale. Now you want to make sure that it is good content
because what'll happen if you put out something that's bad is a couple of people will buy it,
they'll leave negative reviews, and then that product will go to the graveyard.
But if you put out something good, there's different ways you can promote it. I talk
about that in some of my videos and they don't have to be book books. You can do what they call
low content or mid content books, like a coloring book. I'm partnered with book bolt,
which is some software that lets you create maze books, coloring books, journals, those types of
things. It's very easy, very low cost to start up sometimes free, honestly. And there are people
making 12,000. I saw a product on here the other day, self-published that was making $12,000 a day.
So if you find the right niche and you find the right products, there's a lot of people on Amazon
looking. I'm also partnered with Nick. He made a million dollars last year with Amazon Kindle
Direct Publishing, and he has a program where he'll walk you through the process and get you
set up as well. So in the 10th, final passive income play are iOS apps. Basically the idea
behind this is you create a simple iOS app, and there's ways to do that even if you don't know
any programming. You can even white label apps. So that's basically you're taking their content,
put your name on it. They get a percentage. It's kind of like an affiliate deal,
but you're selling it in the app store. And I'm partnered with Lucas from passiveapps.com. He
helps people get these going. I have several apps that I put out there. I'm working on one with
Lucas right now. I have my own app program that I've been working on with a lot of you guys,
but there's a couple billion people, 2 billion people that are using the Apple store. So again,
you find a niche, you find a problem in that niche. You can create some simple software. It
could just be a training course that's in an app. Okay, that's really popular right now. It's just
a training course, but it's in app format. You put it up in the app store, in the Google Play store.
There are people in there looking, and then you make some passive income. And there's people in
Lucas's program making 10K a month, 5K a month, and it's a real business. Again, you're providing
real value. You're getting real revenue in return. So there's 10 ideas for you. Probably my top 10.
If I was getting started right now, these are the 10 that I'm most excited about, that I'm
using currently that seemed the most consistent. So just pick one of them. Again, Proverbs 14,
23, hard work brings profit. Mere talk leads only to poverty. So I want you to stop watching
YouTube videos about how to make passive income. Stop thinking about how to make passive income.
Pick one of these 10 things and start some action. You can't fail or succeed unless you
get started. Wayne Gretzky or Michael Scott, whoever, you miss 100% of the shots that you
don't take. So pick one of these and just get started, even if you fail in your first attempt.
I failed in probably seven or eight businesses before I started one that ended up being a
multi-million dollar company. If I had never gotten started or I had stopped after a couple of failures,
I would have never reached that success that the Lord had for me. So thank you so much for
watching. Fun video for me to create here today. Excited about this stuff. Leave a comment down
below. Appreciate you guys. God bless and have a great rest of your day.