The Wealth Without Wall Street Podcast
Passive Income Wins and Losses
Oct 26, 2023
Learn about their experiences and lessons learned from investing in Turo and e-commerce, how to earn passive income through online assets and affiliate marketing, and how to keep passive income passive. They also discuss their income, expenses, and e-commerce journey, explore passive income strategies and investment opportunities, and talk about the importance of keeping passive investing passive with visor.co.
35:23
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Quick takeaways
- Turo may not be a reliable source of passive income as it requires upfront costs and active management to cover expenses and make a profit.
- E-commerce, particularly through affiliate marketing, holds potential for generating significant passive income, especially for those with a sizable social media following promoting relevant products or services.
Deep dives
Lessons from Turo and Front-Loaded Income
One important lesson learned from Turo is that if you want your passive income to be truly passive, someone else needs to be active. In the case of Turo, the car rental business, the owner had to front-load expenses such as upfront fees and insurance costs, resulting in a loss in the first month. To make it profitable, the owner discovered they needed to have the car rented out for at least 20 to 25 days per month to cover the costs of the new car. However, it's worth considering that the car's value can still be realized if it is sold. Overall, Turo may not be a reliable source of passive income.
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