January 2012 Income Report
Welcome to my January income report. My goal of this report is to hold me accountable and keep track of my progress to financial freedom. My passive income will come from real estate investments and internet marketing.
This report will continue to evolve as I start generating passive income.
General happenings in the month…
This report isn’t as delayed as the December one, but here it is anyway! Income wise, it was a good month for my real estate services as I had a commission cheque come in. I’ve also started to heavily advertise for rent-to-own leads for my side business. The tough thing about real estate is the fees that you pay as a Realtor! So the leads and deals have to keep on coming to pay those off!
In terms of internet marketing, I am starting to see little income come in consistently from the couple sites I’ve setup…so this tells me that it is possible! Over the past year I guess I’ve been testing to see how I want to make money online and I’m favour of being an Amazon affiliate. I’ll be creating several more niche sites and scaling it to see if I can earn more.
Let’s break down the income.
Real Estate
Nothing major going on right now, the own home tenant pays a month behind, but it’s consistent. After the long talk with them, they had a rough 2011, so hopefully 2012 will be a better year for them. Again, this income will be updated once they pay up.
Current holdings:
3x Rent to Own home (townhouse, 2 single detached)
1x Multi-family home (6-plex)
Total Rental Income = $3,100
Total Carrying Cost = $3,747.75
Total Real Estate Profit = -$647.75
Note: I’m not including any mortgage pay down which is approximately $1,000 per month over the three rent to own houses. I’m also not including the multi-family residential building because the partnership account is setup to keep funds in reserve.
Internet Marketing
After finishing my project for the Chris Mentor Me program, I’m not sure the the way how to make money is for my situation in terms of time spent involved in the project. Essentially it’s create a squeeze page with a lead magnet (ebook). Drive traffic through a FB page, which has to be consistently done. The websites used are based from Optimize Press which I really like use, but the FB page traffic doesn’t feel right for me. The system makes sense so I’m happy I learned it that I can apply it. I will continue to monitor the project and see how it does.
AdSense
Real estate lead gen = $3.98
Niche Sites = $2.26
InfoBarrel Sites = $0.00
Other = $0.00
Affiliates
Chris Farrell Membership = $17.11
Amazon Associate = $13.52
MaxBounty = $0.00
GetResponse =$0.00
Market Samurai = $0.00
Best Spinner = $0.00
Squidoo = $0.46 (these report are delayed 2 months, so i.e. Nov income, but will report current)
InfoBarrel = $0.00
Total Internet Marketing Income = $37.33
This is a list of all affiliate programs I’ve joined. This will be easier for me to track on-going when I start generating income from them. I’m not aggressively promoting any of them at the moment.
Expenses = $82.34
(I won’t be breaking the expenses out just for convenience sake, but typical ones include hosting, domain, and memberships)
Total Internet Marketing Profit = -$45.01
Summary
Real estate: -$647.75
Internet Marketing: -$45.01
Total November Passive Income = -$692.76
As part of my goals, I will donate 10% of my monthly passive income profit to a charity. In the negative mainly because of the new roof on the townhouse. It’s been awhile since I’ve donated, and I want to get back on track shortly!
See ya next month!
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