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Welcome to my [Dumb] Passive Income Report! This blog is all about what I am doing to create several different passive income streams. This monthly income report details my results. I work very hard and dedicate many hours each week to working on my different online endeavors in an attempt to create passive income. So why do I consider it passive income then? Because I am not trading specified amounts of time for a predetermined amount of money like I do at my day job. Most of the income you will see in this report results from work I have done in the past.
Why am I sharing my income publicly? Hopefully to gain credibility with you (the readers) and to maintain a certain degree of accountability for myself. I could blog all day long about what I am doing to create passive income online, including some of my unique strategies. But why would anybody trust me and believe that what I am doing works if I don’t prove it by sharing my results? This is what I mean by gaining credibility and this is one of the main purposes for sharing my income. I also share my failures on the blog, which holds me accountable. Knowing that I will be publishing a monthly income report will keep me motivated to keep pushing forward and plugging away on the things I need to do to create future passive income.
Happenings in January
Some Personal Stuff
Like I mentioned in Decembers income report (which I didn’t publish until Jan. 25th), I didn’t do much for the first couple of weeks of January. After my wife’s dad passed away, she had quite a bit going on as far as settling his estate. Although I wasn’t directly involved with the transactions of that process very much myself, I was involved as her husband. Just being there for emotional support meant a great deal to her and of course helping out with the kids as much as possible while she dealt with stuff.
Speaking of stuff – my father-in-law had a lot of it. Lots of farm related stuff, like tractors and trucks and miscellaneous farm equipment and all kinds of tools. This has nothing to do with passive income or blogging, but it’s what has been on my mind for much of January. So I’m sharing. My wife and I co-inherited her dads farm, along with her brother and his wife. They want to honor their dad by keeping the farm going, and I’m thrilled to be along for the ride. I know next to nothing about farming. But I’m really eager to learn. So add that to the oddball list of things that describe me: full-time trucker, part-time blogger, imaginary entrepreneur and… weekend farmer?
I was really happy with my January results for my niche sites. My main Adsense site brought in about $400! And my one Amazon site that I thought got killed by the Google PBN scare is making a comeback and actually earned over $200!My niche site fire has been re-kindled and I'm ready to revive my old sites and get them ranked and make some money!Click To Tweet
I’ve already taken action. You’ll see in my numbers below that I spent $250 on a Hoth package. I hated spending the money. But I hate link building even more and it’s just something that has to be done if you want to rank for certain keywords. I went with the Hoth Blitz package this time and will be closely monitoring the results when they come in over the next several days.
I’ve had a stagnant site sitting for several months and ranking mostly on pages 2 and 3 of Google for some really good keywords. This is the site I purchased 5 high authority links for with the Hoth Blitz package. I took “before” screenshots of my rankings and plan to report positive results not long after they come in.
Selling Stuff on Amazon
Let’s just say that January was an investment month. As stated a few times already, we did nothing for the first half of the month. Sales were still trickling in from the items that were still left in our inventory. But the big sales days always come a day or two after one of our inventory shipments gets checked in at the Amazon warehouses. These big sales days didn’t happen for us until sometime late in the month. Because…
Our sales for January were just over $3300 minus expenses of around $4700 for a January loss of $1400ish from Amazon FBA stuff. If it weren’t for this FBA adventure me and My Lady are going on – my net income for January would have been positive!
But not to worry. Another number I am tracking and monitoring is the value of the unsold inventory we have sitting in Amazon warehouses. As of Feb. 3rd, we had $9,337.87 worth of inventory at Amazon waiting to be sold. I like to think of it as if I am a store owner and I am just slowly but surely stocking the shelves. Some of the stuff sells right away and some of it takes longer to sell.
Although I never plan to be “the guy” when it comes to teaching how to sell stuff on Amazon (plenty of other people have that covered). I did put together a list of all the items that Susie and I use to run our FBA business. A few of these items are essential, and several of them just make the job way easier for us. CLICK HERE to see our FBA Seller Tools and Supplies page. The list includes helpful descriptions of each item which will come in handy to help get you started if you want to try this sure-fire money-making scheme. 🙂
Income and Expenses – January 2015
Selling on Amazon
- $3,356.63 – Amazon Seller monthly sales (this is NOT net profit – see Amazon Seller Inventory Expenses and Seller Fees in expense section below)
Affiliate Income from Dumb Passive Income
- $182.45 – Long Tail Pro sales via Clickbank (why it is better than the competition) (how to make LTP pay for itself)
- $20.10 – LeadPages sales for this awesome lead generation software (I EASILY created this squeeze page with LeadPages)
- $6.98 – SocialADR sales (go here to learn more and access my custom 20% off coupon code)
- $0 – Aweber signups ($1 for your first month)
- $0 – Ultimate Azon Theme sales via Clickbank (I have not yet reviewed this theme – but I beta tested it extensively – MUST HAVE for Amazon Affilliate sites)
- $0 – AmaSuite sales via JVZoo (software demonstrated in video embedded here)
- $0 – oDesk signups via Commission Junction (how to outsource content for cheap explained here)
- $0 – Genesis framework and themes by Studiopress via ShareaSale (eleven40 Pro theme as seen on this site now)
- $0 – EasyAzon4 sales via Clickbank (I haven’t even reviewed this yet – but I would not build an Amazon site without it!)
- $0 – The HOTH sales (awesome link building service – they do everything for you!)
- $0 – WPEngine sales (my results after upgrading to the fastest hosting for WordPress on this blog)
- $0 – Bluehost (why I buy separate hosting accounts for new niche sites explained within this post)
- $12.00 – Lending Club signup (I haven’t done anything with or written about my investments here in over a year)
- $3.50 – PBNCourse sales (step-by-step course on how to build your own PBN the right way)
Other Passive Income from Niche Sites, etc…
- $402.69 – Google Adsense (ad click revenue from niche sites)
- $238.96 – Amazon Associates for sales on Amazon.com (explained in detail here)
Website Services by Matthew Allen
- $0 – Website services – build simple websites for private businesses (like this one appliancerepairgr.com)
Note: Bluehost banner above is an affiliate link
Selling on Amazon
- $3,399.70 – Inventory Purchases (buying stuff for cheap to send to Amazon and sell for more – (how we got started detailed here)
- $1,262.07 – Amazon Seller Fees/Expenses (these include FBA selling fees, transaction fees, inventory & storage fees and service fees)
Hosting and Domains
- $29.00 – WPEngine (why I upgraded to the best and fastest hosting for WordPress)
- $0 – Bluehost – my new favorite hosting provider for niche sites – great price, ease of use, excellent service and overall experience
- $9.95 – Hostgator – my original hosting provider – still keep for some sites
- $15.17 – GoDaddy for domain renewals and purchases
- $13.75 – NameCheap – domain purchases (expired domains)
Tools, Plugins and Themes
- $12.00 – Long Tail Platinum monthly fee (if you have Long Tail Pro – upgrade to Platinum here)
- $49.00 – Aweber monthly fee for e-mail list management (first month trial only $1)
- $4.90 – ManageWP monthly fee for WordPress multiple site management program
- $27.00 – EasyAzon4 purchase (inexpensive upgrade to version 4 offered to version 3 owners)
- $24.00 – Social Warfare purchase (awesome sharing buttons with tons of customization options and more)
- $132.00 – to my private writer for article writing for niche sites
- $48.29 – to oDesk for virtual assistant(s)
- $250.00 – to The HOTH for a link building package (comprehensive and completely done-for-you link building)
- $0- Paypal fees
- $5.00 – Google Apps for domain email
Totals and Thoughts
Wow! I thought I had some ridiculous looking bar graphs before. Now it’s just out of control! Total income was okay – considering I did very little. But expenses were very high (explained in Amazon section above) which resulted in a huge net loss for January. I was getting tired of always being featured in the middle of Matthew Woodward’s Income Report Roundup post every month anyway. This report should land me solidly at the very bottom of that roundup! haha 🙂
Taking a loss for another month like this doesn’t have me worried whatsoever. Selling products through Amazon FBA is still going amazingly well. This is why I had no problem at all spending all of that money to add to our inventory over there. Besides – we had to make up for lost time – the time that we weren’t spending money on Amazon stuff for several weeks in a row. I think we more than made up for it!
Besides the Amazon stuff – I’m excited about my other internet marketing ventures. Slowly but surely, my niche sites are headed in the right direction. I haven’t blogged much here on Dumb Passive Income over the last several months, but I have a whole bunch of posts planned and I intend on writing several times per month going forward. I need to get back to my roots and publish useful stuff again. Not just income reports. That’s my plan anyway.
Thank You for taking the time to read through my latest income report and Thank You for contributing if you have previously purchased something through one of my affiliate links! Many of the links within this income report are indeed affiliate links (including the Bluehost banner below). I will receive a commission if you choose to purchase after clicking through via any of these links. Thank You if you do!
All photos featured in this post are my own. Top picture is my oldest son (Ethan) with his “Papa Farmer.” Picture was taken several years ago on the farm.