How long does it normally take to start making money from adsense?

Say I just want to reach a point where I make about $50 a day from the website. Let's say I found a good niche, found keywords with a decent amount of monthly searches, good cpc, low competition, analyzed my competitors and then proceeded to build it, outsource quality articles, build a facebook page, and properly outsource all of the SEO needed either from BHW or fiverr.

Is it absolutely necessary for the website to reach page 1 on google in order to make that kind of revenue with adsense?
How long does it normally take from your experience to get there? weeks/months?
Is it going to be easy keep the website ranked or am I going to have to keep paying for SEO services to keep it up there on google?

It's probably obvious that I'm one of those people that come here and spend hours a day reading threads upon threads on different ways to make money but never really take action because I'm afraid to invest money and then fail. Should I just say screw it and just go for it?

Thanks.

Is it absolutely necessary for the website to reach page 1 on google in order to make that kind of revenue with adsense?

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Nope. You can rank for several long tails and make a lot of money. Depends on the CPC of your keyword and the traffic that it gets.

How long does it normally take from your experience to get there? weeks/months?

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Depends on link building and a lot of other things that you can read on this forum. But I've seen results in 2-3 weeks. It can take 1-3 months. Remember to go slow though.

Is it going to be easy keep the website ranked or am I going to have to keep paying for SEO services to keep it up there on google?

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Again, depends on the keyword and how competitive it is. SEO is a continuous game. Stay stagnant and someone else will claim the throne.

It's probably obvious that I'm one of those people that come here and spend hours a day reading threads upon threads on different ways to make money but never really take action because I'm afraid to invest money and then fail. Should I just say screw it and just go for it?

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Its procrastination VS action. If you take action you will learn from your mistakes. Just buy a domain and do everything manually if money is your issue. I started like you but the key is to act after thinking. When you do things manually you will learn. Once you get a grip and note down your process you can spend on automation.