Location Independent Income Ideas

Location Independent Income Ideas - Printable Version

+- Roosh V Forum (https://rooshvforum.network)
+-- Forum: Main (https://rooshvforum.network/forum-1.html)
+--- Forum: Life (https://rooshvforum.network/forum-5.html)
+--- Thread: Location Independent Income Ideas (/thread-55782.html)

Pages: 1 2 3

Location Independent Income Ideas - samsamsam - 05-13-2016

This topic is probably an interest of many people on this forum. So I decided to start a clean thread with research included as opposed to just demanding that others feed me info, while I do nothing to contribute.

I think location independence runs off of either skill or money. If you have a skill that can be applied anywhere or done online, you can be golden. If you have lots of capital, you can trade, invest, or start a business (inventory). While this is stating the obvious, knowing what you have and don't have let's you develop a plan. Such as, I don't have a skill that is useful, I should develop one. Or I don't have the capital, let me save and build my nest egg.

A search through the forum resulted in only one or two threads [Image: lol.gif]

What I have noticed is when people just start the "tell me about xyz threads" they die quickly. When a thread is started to help, datasheet, etc. Or it is thought out/researched, they last longer and are more productive.

This thread discusses contract work, some online, some investments, ebooks, freelance translator.
thread-5239.html

This thread discussed freelancing - started by w00t (he dropped a datasheet with 28 likes)
thread-41691.html

Speakeasy started a thread on Location Independence - some good looking info in here. thread-29459.html

The Make $ Copywriting Datasheet thread-42357.html

This thread mentions in some detail about airbnb (Isaac Jordan dropped some info), davidvs mentions sector rotation but you need some capital, sales copywriting was mentioned)

thread-35480.html

Thread about copy editing. thread-19062.html

Virtual Lawyering thread-12908.html

Some more ideas about location independent lifestyles (a lot about websites) thread-11471.html

This guy wanted to arbitrage web designing thread-11699.html

This thread was long and it was about passive income thread-43597.html

Cleanslate has been sharing his plan to gtfo!
thread-50615.html

Not quite on about income - but advice on an ideal place to re-locate to in SE Asia thread-42165.html

ROK Article on "The Life of A Location Independent Traveler" thread-32060.html

Outside RVF
Article on How to Build an Location Independent Business
http://www.eofire.com/location-independent-business/

64 Location Independent Businesses
https://fizzle.co/sparkline/64-ways-loca...n-a-living

Edit: This thread took 15 minutes to assemble. My point being I don't think it takes much time to try and offer some value.

Location Independent Income Ideas - CleanSlate - 05-13-2016

Thanks for linking to my thread. I should update it soon.

And good call on starting a new thread.

Location Independent Income Ideas - General Stalin - 05-13-2016

I think if I were to really want to become location independent I would focus on further specializing my IT skills and work as a freelance/independent contractor in a specific technology that every business needs and will pay big money for. Network security analyst, Microsoft Certified Solution Expert, some other skillset that maybe a lot of companies don't need a full time person to do, but definitely need someone to step in to upgrade/improve their infrastructure and maybe upkeep from to time.

Location Independent Income Ideas - RandomGuy1 - 05-13-2016

Nowadays many Start-Ups arise day by day which provide the opportunity to work remotely. If you don't want to freelance, this would be a viable option in my opinion. There is the one which lays open all their salaries and stuff, quite interesting. It's called Buffer. Here can you calculate you salary for example: https://buffer.com/salary

I was in the process of applying but dismissed the idea because of absurd tax affairs which would come along with such intent. It's of course doable but keep that in mind.

Slightly off-topic:
Personally I like to have something stable and this doesn't work well together with the location independent lifestyle. Why? Because all work you can do drives mostly around tasks within the IT sector. You have to constantly adapt to your environment and learn new frameworks, new SEO techniques, new programming languages, new dropshipping strategies, etc. Also the entry barrier is really low which means the competition is high. Maybe this is just me but I can't arrange myself with this type of work (read: sitting hours in front of a monitor).

Location Independent Income Ideas - redbeard - 05-13-2016

Great thread Sam, thanks.

I stumbled upon this blog looking for information on Amazon FBA, it has some great ideas.

Side Hustle Nation: "99 Side Hustle Business Ideas You Can Start Today"

http://www.sidehustlenation.com/ideas

Location Independent Income Ideas - samsamsam - 05-13-2016

A little more searching, a few more threads. I know it ain't pretty [Image: lol.gif]

Live and Work Abroad with the Luxury Hotel industry thread-54801.html

Teaching English Abroad
thread-758.html (Long thread)
thread-38805.html (ROK)
thread-15900.html (thread on English Teacher X)
thread-5922-post-82022.html (Dash's Guide to Teaching English in South Korea)
thread-44206.html (The Good And Bad Of Teaching English In Asia)

General Threads
Guide to different ways of making money for traveling and living abroad
thread-28108.html

262’s relocation thread thread-47239.html

Best Place to Buy a Rental Property U.S. or Abroad thread-44341.html

Side Hustles thread-27759.html

This thread debated if 200K was enough thread-52669.html

Thoughts on Living Abroad thread-1595.html

This one had potential - The Moved Abroad thread - how you did it, and why thread-44861.html

NON RVF

http://www.tropicalmba.com/
Tropical MBA is a popular podcast and blog dedicated to the growing movement of location independent entrepreneurs worldwide.

(Jan 28, 2016) https://www.reddit.com/r/Entrepreneur/co..._location/
How to achieve goal: Make $500+/month, location independent, 5 to 6 months to get something going, minimal hours

Location Independent Income Ideas - Beyond Borders - 05-14-2016

Don't know how you could miss the 23-page strong Freelancing on Elance thread! [Image: exclamation.gif]

Elance is gone now, replaced by Upwork, but I'd say many of the same principles still apply there and on other bidding sites.

The freelancing sites, while we all have their bones to pick with them, have probably been more responsible for building location independence for guys on the forum that didn't already have it than anything else. Quite a few guys built a business based on what they learned in this thread alone. Upwork probably won't last. Something else similar enough will rise to take its place, and there are already plenty of smaller niche freelance bidding sites out there, some high-quality enough I almost feel like I'm not qualified to submit bids.

And there's lots of general freelance business advice in there that can be applied in other freelance markets too. So I'd say still worth a read over all.

Anyhow, here it is.

thread-26887.html

And then there's the "All Things Freelance" thread:

thread-47266.html

Location Independent Income Ideas - samsamsam - 05-14-2016

@BB, always a critic [Image: lol.gif]

Hope you are doing well BB.

Location Independent Income Ideas - Beyond Borders - 05-14-2016

^ You really fucked that up, Man. [Image: wink.gif]

Location Independent Income Ideas - stefpdt - 05-14-2016

I like the analogy of "If someone had a gun to your head and said you had make an e-biz profitable, would you do it?" It's kinda harsh, but it's what I've been using for the past few weeks and I'm seeing small but much better spikes in web traffic lately.

The #1 thing anyone here can learn is copywriting...then you can sell! Also, The Boron Letters are completely free so anyone can jump right in.

I think that anyone can build an online income over one year organically. Just publish a truly valuable article every day and figure out how to monetize your content. If you can afford paid traffic then you can knock shit out of the park.

In all honesty, no one has any reaaaal bones to throw around in a public forum. Even in "paid" forums like STM and in the private parts of the fast lane forum people are always secretly working their own inside angles.

That reminds me...the balls on those /r/TRP guys to make The Donald subreddit go viral. Seems like they partnered with an alternative image hosting website instead of Imgur and I'm convinced they're either part owners of the service or involved in some kind of a revshare deal. Clever dudes. That's the kind of attitude you need to really make it happen online.

Location Independent Income Ideas - samsamsam - 05-14-2016

stefpdt,

So let's say you write an article, draws a lot of hits. To monetize it - what do you do? Link to products to sell? Show ads, I guess? But you need to write something about a real popular item, right?

Can't be about something small/niche. Or can it?

Location Independent Income Ideas - Chauncey - 05-14-2016

Thanks for putting all of these threads in one place Samsamsam.

This should be a valuable resource for guys starting from square one, who are willing to put in the homework, to get an idea of the different options out there and some real world examples of guys putting them in action.

I have not read all of the threads but did want to give a shout out to Clean Slate and 262. Both of their threads provide an in depth look at the process of becoming location independent. They are good reads even if a little off topic from this thread.

The focus is not as much on how they are funding the lifestyle although they do provide some details on this (I believe 262 is in your second category meaning he built up his kitty before he left and now invests in different income producing opportunities, and Clean Slate is in your first category in that he is mastering the skills necessary to generate an online income). Instead they focus on the nitty gritty details of finances, taxes, picking locations, logistics, legal aspects, game considerations, mental hurdles, etc that are all part of the transition from home country/9-5 to foreign country/location independence.

While they are not providing secret get rich quick schemes to move to EE or SEA they are providing insight that gives a broader perspective than just where the income is generated. One thing I liked about both their threads is that they are easy to follow for somebody (like me) who has no idea what affiliate marketing or dropshipping even means.

262 has already made the transition from Canada (I think) to EE and Clean Slate is in the process (Year 2 of a 5 Year Plan) of moving from US to SEA. Two different threads, two different perspectives, two great contributors to the forum.

Location Independent Income Ideas - stefpdt - 05-14-2016

ROK uses ads. They attract millions of hits, and I'm sure the Rooshmeister is doing alright using that model [Image: smile.gif]

. You can monetize anyway you like. Amazon is most common but you need to offer real proof that you're offering value.

Here's a free bone (rare): EMAIL MARKETING. Gahdamn that's a sizzling business model. You just need a list of subscribers and something like aweber. Some dude sells access to his premium email list for a monthly fee and sends out flight deals. Apparently the deals he sends out are unbelievably good. But, he also offers a free email list to generate leads.

Thehustle.co is another good email marketing example. I think they're free and do straight affiliate stuff.

Basically, if you can offer tons of value online, you will figure out how to monetize one way or the other

Location Independent Income Ideas - samsamsam - 05-14-2016

Quote: (05-14-2016 12:56 AM)Chauncey Wrote:

The focus is not as much on how they are funding the lifestyle although they do provide some details on this (I believe 262 is in your second category meaning he built up his kitty before he left and now invests in different income producing opportunities, and Clean Slate is in your first category in that he is mastering the skills necessary to generate an online income). Instead they focus on the nitty gritty details of finances, taxes, picking locations, logistics, legal aspects, game considerations, mental hurdles, etc that are all part of the transition from home country/9-5 to foreign country/location independence.

While they are not providing secret get rich quick schemes to move to EE or SEA they are providing insight that gives a broader perspective than just where the income is generated.

I think that is the key point. Unless you are a trust fund kid or an exception. It wll take some work and effort to get there. I think too many people want the get rich quick thing. Yes, some do fall into a good opportunity but most will have to work for it.

Edit: I thought CleanSlate was almost out the door already, much less than his original 5 year plan.

Location Independent Income Ideas - stefpdt - 05-14-2016

Quote: (05-14-2016 01:19 AM)samsamsam Wrote:

Quote: (05-14-2016 12:56 AM)Chauncey Wrote:

The focus is not as much on how they are funding the lifestyle although they do provide some details on this (I believe 262 is in your second category meaning he built up his kitty before he left and now invests in different income producing opportunities, and Clean Slate is in your first category in that he is mastering the skills necessary to generate an online income). Instead they focus on the nitty gritty details of finances, taxes, picking locations, logistics, legal aspects, game considerations, mental hurdles, etc that are all part of the transition from home country/9-5 to foreign country/location independence.

While they are not providing secret get rich quick schemes to move to EE or SEA they are providing insight that gives a broader perspective than just where the income is generated.

I think that is the key point. Unless you are a trust fund kid or an exception. It wll take some work and effort to get there. I think too many people want the get rich quick thing. Yes, some do fall into a good opportunity but most will have to work for it.

Edit: I thought CleanSlate was almost out the door already, much less than his original 5 year plan.

I think the trust fund kid thing is way overblown. There's no reason to feel any sort of envy towards them (I'm not saying that you do). Of the 2 trust fund guys who I was personally good friends with, 1 has OD'd and the other is bouncing back from rehab.

My point is that having to work your ass off from nothing is a blessing and not a negative thing like I think you're framing it as. Especially if you're dirt poor. Being in the upper middle class (most of us, I think) is probably most dangerous of all.

Location Independent Income Ideas - Pyrrhic victory - 05-17-2016

^
Agreed. When you have to claw and fight for everything you have earned with 12-14 work hour days for years you can truly appreciate what you have. There is no get rich scheme without a lot of potential downside.

I have a couple of 30 year old friends who became drug addicts and squandered millions of dollars their parents spoiled them with as it was all a charity. Bmw for 21st birthday great ? What's next Ferrari for 25th birthday ?? They lived in a fantasy world that all collapsed after both fathers passed and the kids bankrupted the family businesses that their fathers worked for decades to establish. One of them died from drug overdose and the other is now a 34 year old busboy at a banquet facility.

I did it by living very frugally and investing in small apartment buildings. Instead of eating out , I would save $20 each time. I have always packed my own lunch which was made with dinner the night before as a way to maximize efficiency.

As extreme as it may sound , I have not purchased one bottle of water or soda at a convenient store at retail price in the last 15 years. I refuse to pay retail price for anything. All my work and gym clothes come from the Salvation Army. There is no shame in this.

I had to apply that to many variables in my life in order to save the capital to purchase and fully renovate my apartments. Now that I have reached the tail end of this I am planning on touring SEA / Colombia to see where I will relocate for 6 to 9 months out of the year.

I have fully renovated my properties and have built a solid support staff to manage the units which I can oversee all details online. At the end of the day all of the stress and difficulty Has allowed me to retire before the age of 40.

Location Independent Income Ideas - booshala - 05-21-2016

Nice compilation thread, samsamsam... From what I've read, I'm with 262 on his current plan to save a chunk of money and then geo-arbitrage... I earn well from my business now and am banking most of it until 2020. 3-4% yield on the portfolio should be enough to live relatively comfortably while taking occasional sidework here and there to stay busy.

I will mention to Americans looking to go overseas that you should really do your homework when it comes to taxes for expats. I'm guilty of not doing my due diligence and am probably going to end up consulting with a lawyer before the move, but it does seem like there are ways to really maximize the roughly $100k exemption for people who make foreign wages and live outside of the US 330 days of the year. Same with those living off of dividend investment income.

Location Independent Income Ideas - Demandred - 05-22-2016

My experience on this subject comes from starting a few small online businesses and from hanging around guys who are pulling in the major moolah from their ventures.

While there are a million ways to make money online, here are some most common ones:

Information marketing

This can be anything from Clickbank eBooks and membership sites to Udemy courses and paid email newsletters. It's a pretty simple business model actually - if you have knowledge on some valuable subject, you can write it down (or record yourself speaking about it) and then publish it and get money for it.

This is the subject I have the most experience with so if anybody is interested I can post more about it.

Freelancing

You have a skill that is in demand. You do the work and get paid. Some common skills for freelancing are web development, web design, copywriting, SEO, etc. You can check out UpWork and browse through its categories to see if you have any skill that can allow you to freelance.

Blogging

To start off, blogging is a business model only if you are monetizing your traffic with ads only. Most of the people who are blogging are using their blogs as a promotional tool to sell their products or services. You'll need a boatload of traffic if you plan to monetize your blog with ads. (Disclaimer: not an expert in this matter, but from conversations with multiple people who run blogs/eMagazines, it seems about right.)

eCommerce shops

Again, not my area of expertise. But let's say you want to sell physical products online. You can either drop ship the product from China or manufacture it in the US (or the UK). The hot thing right now is Amazon FBA (Fulfillment by Amazon) - that means that Amazon takes care of your shipping, storage, and customer service.

Check out Shopify's guide and a few eCommerce blogs. No matter what you decide, you still have the same problem the people with info products and software products have - you have to get traffic to your site and then you have to convert that traffic into visitors.

Affiliate marketing

In this business model, you are selling someone else's product for a commission. Your job is to bring in the traffic to their sales page. You can do this with either free traffic or paid traffic.

When it comes to free traffic, you have an option of using blogs (learn SEO), niche sites (which are like blogs but more focused on a specific product or a narrow niche, Youtube videos, your email list (very important) and about a million other ways.

As far as paid traffic is concerned, you are buying traffic and trying to optimize your ads, landing pages and offers to maximize ROI. You can buy traffic almost anywhere, but major sources are Google, Facebook, Traffic Junky, Exoclick, etc.

Software & Apps

Here you are either creating a SaaS (Software as a Service) or creating a mobile app for Android and iOS. I'll admit, I don't know much about this, but I know they can be insanely profitable - just look at Aweber, Olark or any other small niche app. Olark passed 10 000 users a year ago. If we assume that most of them are using their Gold pricing option ($49 a month), then they are making slightly less than half a million in revenue each month.

These are the business models on the top of my head. This post was mainly for newbies so if anybody needs a clarification don't hesitate to ask.

Location Independent Income Ideas - HighSpeed_LowDrag - 05-22-2016

Guess I can add my thread as well: Acheiving location independence by using HELOC to invest in stock market

Location Independent Income Ideas - Laurifer - 05-22-2016

What do you guys think about the mr money mustache way? Basically keeping costs as low as possible and pumping as much money as you can into investments in order to retire early.

Location Independent Income Ideas - samsamsam - 05-22-2016

Quote: (05-22-2016 01:30 PM)Laurifer Wrote:

What do you guys think about the mr money mustache way? Basically keeping costs as low as possible and pumping as much money as you can into investments in order to retire early.

Comes down to utility (happiness).

I think that is a great way but will saving and sacrificing make you happy?

I don't mind - while I have had my wins and losses in my investing history - I just don't need a lot. So I don't mind sucking it up. Driving a crap car, etc.

I read this somewhere and I cannot forget it:
"Play now, work later.
Work now, play later.
Whatever you do last, you do longest."

Location Independent Income Ideas - Jack Of All Trades - 05-22-2016

the MMM way is unrealistic unless you have a above average earning career and can sock away much more cash than the average local wages in absolute terms. Not being a english teacher making 3k/mo with living costs at 1500/mo, making 80k/year as a software engineer in the midwest would be much better as your income far exceeds what it's like to live well.

Location Independent Income Ideas - Travesty - 05-22-2016

What I like best about the MMM method (262 has proven) is it is the most surefire way to retire early and location independent. Once you have that base retirement salary you can use your savings beyond living costs to go into any side venture you want at your leisure and quit anytime it doesn't suit you.

Pyrric does it one step further by creating a rental income structure that practically manages itself.

Everything else can come under heavy direct competition and often when service oriented (even when you manage others doing a service) is chained down by being available to please the best clients at all times.

In other words the first 2 are the most stable way to freedom then you can make any decisions you want in life with risk beyond that.

I am very inspired by both 262 and Pyrric.

Gringuito now is on a whole 'nother plane. You have to absolutely love the work you do to get to that point and see it as the game you most enjoy playing in life like Trump does.

Location Independent Income Ideas - Brodiaga - 05-22-2016

Mister Money Mustache website is great. I believe RVF member 262 mentioned that he became financially independent by following advice from MMM blog. There is also a large forum, but watch out for SJW types there, just take the information you need and don't bother with political topics.

I agree that you need a relatively large income to achieve financial independence in a short period of time, but there are all kinds of people on MMM from those who live paycheck to paycheck to multi millionaires.

Personally, I don't think you have choose which strategy/approach to follow from the get go. For example, MMM's philisophy is about living below your means, saving and investing as much as possible in low cost index funds, and retiring as early as possible. The Wall Street Playboys, on the other hand, criticize MMM in their blog posts and say that it's mathematically impossible to get rich by saving 4 bucks on coffee every day, instead you should spend 8 bucks and buy a coffee for a potential business partner or somebody who will help you get a high paying job. I believe both the approaches have merit even though, on the surface, they contradict each other in many ways.

For example, you can watch your expenses and invest wisely (long term investments in low cost index funds while maintaining asset allocation). Then, when a business opportunity presents itself, you can follow it. If you have a financial cushion, you can afford to quit shitty jobs, take more risks and pursue more business opportunities even before you become completely financially independent.

There is a huge difference between making your own detergent to save money and not buying a $50K+ fancy car which costs as much as 2 or more years cost of living on a tropical island (more if you account for extra insurance and other expenses).

Location Independent Income Ideas - lavidaloca - 05-22-2016

MMM is a practical and fail proof way for a guy to obtain a noticeable passive income in a relatively short period of time. However, you have to actually earn above average and that might require moving.

Pyrrhic has done the best and most realistic thing possible to get rich and thats obtaining rental properties. For the average guy it will take him years and years to obtain enough equities to live on. The period to be free by owning rental properties can be much lower.

Every young guy I know who got rich by 35 has done it by rental properties or building / renos. I've never met a young guy who has got rich from buying vanguard, individual stock picking or other ETFs.

The reason for this is the leverage thats available from real estate + the ability to have partners.

I'm currently looking into buying multi-family (in my case 10+ units) as a means of securing a permanent passive income while maintaining some equities. I really am starting to buy into real estate as a better wealth creator.