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The Wealth Without Wall Street Podcast - By Russ Morgan CFP® & Joey Muré 20th August 2020
Our Passive Income Report - July 2020
00:00:00 00:40:18

Our Passive Income Report - July 2020

#151: Welcome to another first on the Wealth Without Wall Street Podcast! 

Today, we’re opening up the books and are sharing our actual passive income numbers with you. We want you to see if they’re working and to help inspire you to start today on growing your passive income. If you don’t keep score, it’s hard to know how you’re doing. This episode has helped us open up our eyes. We’re also unlocking not only the revenue from our passive income sources, but also talking about how passive they actually are. We offer our community affiliate passive income opportunities and we want to be transparent with our community so that we can both support each other on our paths to Financial Freedom. Check out below our numbers in July, 2020:

July 2020 - 

Passive Income Revenue

By the Numbers:

Gross Revenue:  $ 16,164.22 

Total Expenses:  $ 11,216.70 

Net Profit:  $ 4,947.52

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  • Affiliate Marketing - Revenue:  $6,095 | Expenses: $0
  • Community - Members: 2,700 | Revenue: $ 538  | Expenses: $0
  • Long-term Rental -  Revenue:  $ 915  | Expenses: $ 941
  • Short-term Rental - Revenue $3,207 | Expenses $2,619*
  • Crypto - Revenue $2,128 | Expenses $1,206
  • Multi Family - Revenue: $0 | Expenses $0
  • Cattle Business - Revenue: $0 | Expenses $0
  • Land Flipping (Tri Star) - Revenue: $1,488 | Expenses: $677
  • Land Flipping (Everland) - Revenue: $1,330 | Expenses: $0

*Wake Up In Birmingham labor expenses:  $ 4,166.66 

Lessons Learned:

  • Need to track expenses a lot better
  • Have to put more money in land
  • Putting all of this on paper is the only way we’re going to get our passive income greater than monthly expenses

Be sure to subscribe and check back in with us in to hear our August edition of our Passive Income report!