In case you missed part 1 of our side hustle series…
To commit to being financially independent by May 18, 2019, we have to fully embrace an abundance mindset.
At the time I had written about our scarcity mindset, I had no idea just how much it held us back. It’s been several months and I feel we’re only beginning to see the light.
Having worked so hard to get out of debt, the thought of even applying for a loan to go the real estate investment route doesn’t sit well with us. Scarcity mindset, perhaps?
In writing and then rewriting this post, I had a whole list of reasons why now isn’t the time to look for real estate investments…
- Crazy high prices
- 25% increase in property taxes in our county
- No time to find deals
The list goes on.
Because of these internal struggles we’re experiencing, we decided to look at investing differently. We know we need to invest in order to achieve financial independence, so what if we focused on our return on investment instead?
Buy-and-hold real estate investors we’ve come to know focus on finding deals that cashflow $100 to $300 per unit per month. Is that really the best ROI we can achieve? $300 per unit for all the blood, sweat, and tears that come with REI?!
That’s when we went back to the drawing board and looked at cashflow differently…
Our definition of financial independence is when our passive income exceeds our annual budget, so we’ve set our eye on $30,000 annually.
$30,000 annually / $100 per month = 25 units
$30,000 annually / $300 per month = 8.3 units
OK. We’re finally getting somewhere…
So with our desire to stay out of debt (for now), we decided to use our digital marketing and SEO experience and build or acquire “digital units.”
Blogs/niche sites require little in the way of startup capital (no debt!) and have tremendous potential in terms of cash-on-cash return, but they take a lot of time to ramp up.
Our first blog to go live? Save Me From Grain!
Save Me From Grain is a grain-free pet food site.
Over the years, I’ve become more conscious of what we’ve been feeding our cats. In my research for this new site, I’ve found that cats and dogs don’t have any carbohydrate requirements for their diets, so this trend toward grain-free pet food isn’t simply a fad that aligns with the gluten-free food trend like so many people think. Pets don’t need the corn they’re being fed. Who knew?
Because of all this misinformation out there, I decided to get answers for myself. What I found led to the creation of Save Me From Grain.
Over time, I plan to buy defunct pet-related blogs so that I can migrate the content to my site. The Internet is littered with abandoned blogs that can be purchased for far less than physical real estate. And I plan to buy the most helpful content I can find that helps pet owners care for their fur babies — quality is one of my top concerns.
To generate income from this new site, I’m signed up for the Amazon affiliate program and the Cherrywood affiliate program to monetize the content.
Since we’re not greedy or destitute, we’re also making charity a priority. We’re donating 10% of the revenue from Save Me From Grain to the Pet Pantry of Lancaster, our way of paying it forward for your patronage.
Because I believe in the power of a reasonable amount of transparency, we’ll share our revenue and expenses from this new site. I’ve read plenty of blog income reports in the 2.5 years we’ve been blogging here and I appreciate the transparency from other side hustling bloggers.
For our forthcoming blogging revenue and expenses report, I’m planning to cover the following…
- Startup expenses for each site
- Strategy for each site
- Revenue for the month for all three sites
- Expenses for the month for all three sites
- Net profit for the month for all three sites
- Time invested for the month for all three sites
- Tasks for the month for all three sites
- Tasks for the next month for all three sites
Check out part 3 of our side hustle series…