One of my near-term goals’ is to create $3,000 in passive income. So far I’m about half way there, with income from various sources like blog advertisement revenue, Canadian Income fund and stock dividends, real estate trust deeds and direct oil and gas drilling programs. Serial-blogger, Derek Beau, has already reached this target and his goal is to now make $10,000/month! Unlike me, he’s chosen to generate this income solely from blog ad revenue.
Over the past 2 years, he’s created 23 blogs on various topics ranging from golf to pregancy (apparently personal experience or expertise isn’t a deterrent!). He outsources the content creation using sites like Elance, and pays between $3-$5 per post. After waiting for a few months, during which time he lets the traffic build up, he begins to monetize it using various companies like Google, Text Link Ads, Kontera and direct advertizers . He’s making $3,000 every month and his eventual goal is to have 100 blogs pulling in $10k every month.
