One of the things I learned a long time ago when I first read “Rich Dad Poor Dad” by Robert Kiyosaki is that you need to buy assets. An asset, according to the book is something that PUTS money in your pocket. For example, you could buy a rental house that gives you rental income on a monthly basis. You could buy a website (virtual real estate) that generates a monthly income.
But, what do you do if you don’t have any money to buy an asset? Here is what I did.
I committed to building my Google Adsense and Clickbank income this year. This is about 90% passive income, meaning that I don’t do customer service, run a merchant account, or process orders. The 10% that I consider non-passive is where I build my websites and add content to them in order to create more traffic, and thus more revenue being generated through my sites. If you’re not familiar with Adsense or Clickbank, just look those up on Google.
I found one of the quickest ways to get one of these sites making money is to buy one that already is. You can start one from scratch, and I do this all the time. I just started three new sites from scratch this last week. But, I also like to buy existing sites that are already proven money makers.
To get the money to buy an asset, I prefer to sell some of my existing household items, or use the profits from an existing asset. I don’t like to spend money that I would need for living. In this case, I sold my 80-gallon African Cichlid fish aquarium, some books, DVDs, and two other smaller websites. It’s really no different than what Kiyosaki teaches in his books, where you sell some of your smaller income rental properties to acquire larger income generating properties.
So, I bought this new site that is already making a difference in my daily income.It is a debt relief website which tends to get quite a few visitors and is bringing in advertising revenue from Adsense. I will all some Clickbank products to add another income stream from this site.
So, the moral of the story is that everyone has something in their home they could sell or trade for an asset. Now, I loved my fish tank, but I had reached a point where I was done with it. If anything I would like to buy a larger, maybe 125 gallon or larger tank next time, and make it a marine/saltwater tank. But, for now, I’m good that my fish have a happy new home and I have a new piece of virtual real estate.