Passive income

[Spaz]

1) By being majority owner you mean buying them via Limited Partnership where you were majority owner?
I did not buy them, I set them up fully financed by me, and then I offered 30% shares to an expert in that field who was already working for an established company.

2) How much money did you/your company need to buy that injection moulding factory? How well does it prosper?

The injection molding company was also set up by me from scratch, I bought 2 units of 2nd hand machine and supplied some parts to Panasonic in Singapore which I used my existing relationship/influence to get business.

Initial investment, maybe less then US10, 000.

Rented a small shop and the business gradually grew into a 27,000 square feet factory.

Now it does much more then just injection molding hence the dilution of my shares.

3)Why Indonesia not China? I'm learning Chinese since some time hoping to start business in China someday, as I always perceived it to be a decent place to start producing something.

In many places in Asia, besides China, mandarin is widely spoken as is English, so regardless, you've already at an advantage.

Indonesia is a large economy, 200-300 million people and largely friendly, plus highly dependent on the type of business too.

 

[evan12]

Retirement accounts are 90% stocks, 10% bonds. Investment account is more 70% bonds

Why you are so conservative with your investment account ?

 

[RickTheToad]

Why you are so conservative with your investment account ?

There is a big correction coming, so outside of my retirement, I am mostly in CT bonds paying around 3% tax free (approx 4.6% adjusted). My retirement is 90/10 stock since I am not retiring anytime soon. We've had a 5% correction in the last two days. It might hit 8% - 10% depending on the technicals, but I expect another 20% correction over the next year or two based on fundamentals. Gold and silver are skyrocketing. The dead cat bounce which should had happened today, reversed. I am looking at support levels now. If the Dow and S&P break, we're heading lower. Again, strictly on fundamentals; since most of the money in the market is done by algo nowadays anyway.

 

[zekko]

We've had a 5% correction in the last two days. It might hit 8% - 10% depending on the technicals, but I expect another 20% correction over the next year or two based on fundamentals.

The market is in free fall off a cliff right now. They're blaming it on the coronavirus, but I agree with you, I think it's more of a natural correction.

 

[RickTheToad]

The market is in free fall off a cliff right now. They're blaming it on the coronavirus, but I agree with you, I think it's more of a natural correction.

It should turn around Monday, but will trade sideways for a bit.

 

[biggoal]

If the economy goes down it will mean more people shop at the fleamarket for cheap goods.

 

[bcude]

It should turn around Monday, but will trade sideways for a bit.

Should, could, would. Except that noone knows what will happen, it's only pure speculation. Guys, be careful with dropping predictions about things that are unknown. People might actually follow your advice.

 

[Ohso-Phresh]

Anyone here have a passive income stream? I'm talking about passive income that amounts to $2000 or more per month. How long did it take to build and how much work do you put into it per week keeping it
alive?

Yes.
A lifetime of focus.
Very minimal, that’s why is called passive income.

The bottom line is that you must build your mind, everything is a byproduct.

The only way to do the above consistently is to follow your curiosity, become passionate about a subject area and immerse yourself in it.

To receive more relevant replies, it would serve you to take inventory, what is your situation, what is your current sticking point and what are your aspirations?

Someone who lives on CC requires a different step forward than someone looking to invest savings. Someone who has never owned RE requires a different step forward than say someone who does.
Someone whom works for someone else requires a different step forward then another who has a successful business.

An exercise an old mentor gave me was to research the Forbes 500 and sort how they made their fortunes. They can be divided into different piles, what are those piles?

Even though the about is about fortunes, It can’t be just about making money, that is a loser, it has to be more.

Just rentseeking leads to empty and meaningless lives.

 

[RickTheToad]

Should, could, would. Except that noone knows what will happen, it's only pure speculation. Guys, be careful with dropping predictions about things that are unknown. People might actually follow your advice.

Well, that is true. However, at 13.6% drop so far, statistically speaking, it should start to turn over as the market is oversold a bit. Plus, the fed is going to cut rates next month due to CV, so there you go. There are no guarantees in the market.

 

[bcude]

Well, that is true. However, at 13.6% drop so far, statistically speaking, it should start to turn over as the market is oversold a bit. Plus, the fed is going to cut rates next month due to CV, so there you go. There are no guarantees in the market.

I agree, statistically speaking. However every crash has started from an oversold position. The only certainty right now is continued high volatility going forward.

 

[wifehunter]

I agree, statistically speaking. However every crash has started from an oversold position. The only certainty right now is continued high volatility going forward.

 

[DEEZEDBRAH]

OP...There's obviously no one here making $2K per month, passively.

Go fish.

The idea of doing nothing and free money is single mother victimhood welfare state.

I know what he and other means by passive income but the idea of free money is the same mindset of morons wanting to vote for Bernie. Cause free money.

There's a lot of elbow worked required. Mr burns o'leary ranted at guys on the shark tank he can invest a million dollars in a annuity for 7%. Why take anything less from a schmuck who will squander it?

There's a reason why 4hr work week sells. Not work yourself into a early grave during youth.... It's click bait. He did it but it was not a cake walk. A lot goes on in the process.

 

[BeTheChange]

Anyone here have a passive income stream? I'm talking about passive income that amounts to $2000 or more per month. How long did it take to build and how much work do you put into it per week keeping it
alive?

Yes I own 5 rentals. My aim is to own 9 by year end and 20 within 5 years. I make $3k a month after expenses. It took me 5 years to go from zero net worth, a ton of student loans and no savings or real estate to my current position.

Focus on building a good credit history, maximising your earnings, saving aggressively and then plowing everything into your investment portfolio. Definitely worth the pay off.