A New Passive Income

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22 Responses

  1. Very nicely done, well done to you. Picking up another investment is fantastic. Well done to you!
    Buy, Hold Long recently posted…Net Worth Update – May 2017My Profile

  2. Ken C. says:

    I’m also obsessed with increasing my various sources of income-day job, dividends, online income, and I’ve now recently started with Lending Loop. Check them out-high risk, but also interest rates in the 10%+ range.
    Ken C. recently posted…The Basics of Currency TradingMy Profile

    • Hey ken sounds you got some nice streams. I’ve been watching some ppl’ s peer to peer lending. I’m curious buy looks like your average return declines over the long-term since aloy of people don’t pay the loan. Will continue watching!

  3. Happy to see you keep making more passive income streams. At a pretty quick rate too I might add. The more you can do now, the better off you will be in the future. Looking forward to seeing how the solar panels work out too. Thanks for sharing.
    Dividend Daze recently posted…Effect Of Your Past Money Memories On Current Finance BehaviorMy Profile

  4. Leo T. Ly says:

    With a 12% return, this is a great addition to your passive income stream. Just have a question for you. How tax efficient is this form of income? It’s awesome to make such a great return, it would suck if a large percentage of the income goes to he CRA.
    Leo T. Ly recently posted…Would You Borrow Money To Invest?My Profile

  5. That’s exciting PCI. Diversification is usually a good thing, but especially great when diversifying your sources of passive income. I hope it works out well for you and looking forward to seeing how it goes.
    Dividend Portfolio recently posted…I’m Getting A DivorceMy Profile

  6. It’s always good to diversify. I like your goal …five independent sources of passive income. I have only one at this point … dividends.

    My second, sometime in the future would be renting …

    Lets see what else I can add … Good job with your new source of income.
    dividendgeek recently posted…2017 Q2 / June Dividend updateMy Profile

  7. John R says:

    On the new investment with a 12% return, that is awesome. On a scale of 1 to 10 (1 being low risk, 10 being high), how risky is this investment?

    I’m a born sceptic, so please be patient with me.

    If the family business is doing so well, why would they need your $50k investment. Are they doing you a favour or the other way round?

    Do you have a legalized contractual agreement?

    Are you locked in or can you exit the investment at any time or only after a certain period?

    Since its ‘family’ style private investment, what is your recourse should the dividends stop coming in?

    • Good questions John. I would say it’s risk is 6 or 7. I would think we are both doing a favour. They tend to enjoy using other people’s money vs their own and are probably highly leveraged. (May not be a good thing)
      We have a legal contract that says I’m locked in for 5 years. ( verbally we have said since we are family we could get out sooner if need be but of course I wouldn’t want to unless unforeseen stuff happens. The family recourse has not been decided obviously let’s hope for the best. Of course bad things can happen but they own a lot of assets so hopefully it wouldn’t come to that.

  8. MrSLM says:

    Can you say much about this investment? Is it with friends, family, etc. Roughly what business are they in?
    MrSLM recently posted…Financial Update – May 2017My Profile

  9. Well congrats on the investment. I love the cloud of mystery and I have started to learn more about it through reading the comments. It sounds like it is a real estate venture with a certain element of risk to it. However, I guess the increased risk is why you are getting a higher return, right? Best of luck in the venture and I hope it is everything you want it to be (and more).

    Bert

  10. Robert says:

    Is your family the Madoff family? Because if 12% sounds too good to be true and if it is to good to be true then it always is! Get out while you can. You have been warned.

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