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Sunday, 19 June 2011

Paying My Mortgage Passively

I am a great fan of passive income and it has become a big part of my life. I really want to use the income that I generate passively to make my monthly mortgage payments. I currently live in a 3 bedroom house in London in the borough of Newham. I brought my property in 2003 and at the moment I am paying £420 a month thanks to the low interest rates. I really wanted to make this monthly payment using passive income and in this blog I will outline my plan on how I can pay my mortgage passively. I have made a start and I am making inroads into unlocking some of the secrets of generating income on line.

The Start
My fascination with passive income started in 2008 when I stumbled across a site called Ehow where many people were generating income from writing articles. I was really excited at this prospect and really wanted to get stuck in however the Writers Compensation Plan was only available to citizens in the United States which really disappointed me. I then started writing for Bukisa however because the site was just starting the earnings were low and I gave up after a while. I wrote about 280 articles and generated about $2 per month.

The Middle
After the disappointment with Ehow and Bukisa I was later introduced to a site called Xomba in 2009. I realised there was a internet marketer there called Dedom who was making over $6000 per month using this site alone. I signed up under his name and he revealed all his strategies to me and I started writing articles and bookmarking content that I enjoyed reading. I generated about 1000 bookmarks and about 50 articles and to this day it generates about $60 per month in terms of passive income

I am now at a point where I am really serious about earning money to cover the mortgage payment which will motivate me to put in the work so I can reap the rewards in the future. I have learnt a lot from my mistake and know that I should not have taken my foot of the gas in terms of writing. I am now active on the internet and am diversifying my income streams. I now write on Infobarrel and have started to also answer questions on Webanswers which are helping me achieve my passive goals. I have also started a niche site called Cold Sore Remedies which is where I am really concentrating my efforts on to make money.

My Strategy
I have the knowledge and now I have the tools at my disposal, having all this is OK but to do really well on line generating income you need a strategy and this is where I failed previously and wasted time. I now have a strategy and will implement this to see if I can make money. I will outline in details my plans for Infobarrel, Webanswers, Xomba and my niche site in later posts.

Thank you for visiting this blog. I really hope that you will continue to drop by to see how well I am progressing. I will have monthly income reports here which will be completely transparent so that you can see if I can achieve my goal of paying my monthly mortgage payments passively.


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