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Journey to a stable income (2500 EUR/mo after taxes), take 2

Discussion in 'My Journey Discussions' started by EvilKoala, Mar 5, 2016.

  1. EvilKoala

    EvilKoala Newbie

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    Afternoon folks,

    Long time lurker showing up to work here :)


    I've been doing IM/online stuff for years with varying degrees of success. I've had periods where I've made a lot of money, periods where I've done ok, and periods where I'm not making (almost) any money. My problem is simply that I'm very prone to boredom and procrastination, which in turn keeps me from being consistent with things in all walks of life.


    This is my attempt at achieving a modest but stable income of 2500 EUR by the end of the year I can use as a foundation for bigger things. Bear in mind at the moment my living expenses can be covered with around 500 USD (that includes my rent, all my bills, food, coffee, an office, and a nice gym), so that's a lot of extra money to re-invest. This will change in a few months, but even so, things won't go above the 1000 USD/month mark.


    At the moment, my only real source of income is quite unstable and requires a lot of manual work. Given how easy it would be to saturate, I'll have to be deliberately vague when talking about it. Suffice it to say it involves buying certain digital assets for peanuts and re-selling them for a pretty penny and it involves Bitcoin (and is partially subject to its volatility).

    I intend to achieve my goal by initially continuing work on my existing venture, with special interest in automating the more tedious bits (I'm a software developer, after all!) and diversifying it as much as possible to minimize the inherent risks involved. I will also start spending some time working on other small projects/methods (10 USD/day+) to supplement and provide further stability to my income. I expect I'll escalate 1-3 of these methods/projects and drop the rest, depending on performance and workload. I intend to only work on setting up one of these at a time so as not to spread myself too thin.

    The projects, methods, or at least the general ideas of what I'll be tackling are:


    • Adult Websites: likely some variant on the usual content re-upload workflow that seems so popular on BHW. I'm particularly interested in adding a social media component and an e-Mail list to this.
    • Freelancing: I'm a software developer by trade specializing on Web apps (backend) and automating things (many a bot has been brought to life by this pair of hands) and I also make a pretty decent sysadmin. I'll be setting up a nice portfolio-style Website on my namesake domain and I'll start looking for prospective clients soon after that. This is a venture I'll be running with a long-time friend.
    • PPI/PPD: I'm going to be setting up and testing a variety of PPI/PPD methods I've come up with after doing some research. I don't expect too much money from this in principle, but I've come up with a way to escalate this quite massively with some programming magic to make up for that.

    I have plenty of other ideas I'd like to play with, but I'll only be starting with those.


    I'll be updating daily to keep myself accountable and I'll try to be as transparent as possible without revealing too much. I hope you'll join me on this little, hopefully successful journey.


    Anyhow, I've kept you long enough. I hope I haven't been too much of a bore. Time for me to get back to work :)

    P.S. This is my second attempt at a journey thread with the same goal. Didn't get very far the first time around. I'd post a link to the original thread for the curious, but I'm too new on BHW and the system won't let me. You can find it through my profile, though.
     
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  2. EvilKoala

    EvilKoala Newbie

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    As my first daily report, I'm going to post how things have been going since the 1st of March, which is when I started drawing daily stats on my projects.

    Buy low, sell high:

    • Stock added since 1st of March: +620.91 USD
    • Stock added since yesterday: +98.58 USD
    • Stock sold for cash and withdrawn: 300 USD

    Bear in mind that given the nature of the project, just because the stock went up by 600 odd dollars, it doesn't mean I can cash out 600 dollars as this would severely limit my ability to grow revenue. Also know that this revenue in barely 4-5 days is not typical. There was an abnormal day where I randomly sold A LOT of stuff and made 355 dollars which is boosting my numbers significantly. I have cashed out the 300 dollars mentioned above to cover living expenses.

    I'll spend the rest of the day (it's 3pm here) working on getting better analytics for the project. Will need it to automate other things.
     
    Last edited: Mar 5, 2016
  3. EvilKoala

    EvilKoala Newbie

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    As my first daily report, I'm going to post how things have been going since the 1st of March, which is when I started drawing daily stats on my projects.

    Yesterday was a slow day, low sales, low drive to work on much. I managed to get some work on my analytics engine done. But not much else.


    Buy low, sell high:

    • Stock added since yesterday: +85.88 USD

    Not too bad. I had to put in some extra work this morning to try and make up for the low sales. Didn't help much.

    The plan for the day is to work on my analytics engine some more and then, if I have extra time I'll do the research on one of the side income projects, though not sure which one. After that, I think I'll call it a day.
     
  4. EvilKoala

    EvilKoala Newbie

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    I did plenty of research yesterday, plus some work on my analytics engine. Looking good.


    Buy low, sell high:

    • Stock added since yesterday: +48.31 USD

    This is the 5th day of progressively lower profit from this project. I really hope it's just the weekend effect. Starting to worry.

    I expect today won't be very productive. Ate something bad. Have food poisoning. Going to pop some pills and head out soon, though. I have to meet someone about a job. I probably won't do anything else today.
     
  5. EvilKoala

    EvilKoala Newbie

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    Buy low, sell high:

    • Stock added since yesterday: +35.76 USD

    Daily profit is still down. It's the 6th day now. Worried. I've changed my strategy somewhat. If it works, I should have results by morning.

    Did some research on my list of things to try and decided to get started with Instagram. Picked some niches and did some preliminary research. I'll finish my research tomorrow and get setup with the accounts.

    Also had a long chat with someone at the place I work out of about drop-shipping and buying under-valued Websites and working them for a profit. He seemed very willing to provide insights into that. This is a guy who's clearing a good 15k+ a month in net profit, from various projects. I'm hoping I can learn a thing or two.

    Off to bed I go. Fingers crossed my new strategy works!
     
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  6. Eternal1912

    Eternal1912 Power Member

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    Good luck, mate! :)
     
  7. EvilKoala

    EvilKoala Newbie

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    Thanks, mate!



    Buy low, sell high:

    • Stock added since yesterday: +141.12 USD

    Looks like my little gambit worked. Doubt it will hold, nice though that would be. We'll see tomorrow.

    About Instagram, did all my research and more or less picked my niches and methodology. Going to start with 1-3 accounts I'll manage manually for a few weeks to get a feel of Instagram (never actually used it). Will then start with some forms of automation (auto-liking, maybe some auto-following, defo post scheduling) and see how they grow. I'll probably start trying to monetize them with shoutouts once they reach 10-20k followers. I intend to increase followers slowly. Would much rather have 3-5 accounts with 100k followers than 50 with 10k. Will start the first account tomorrow.

    Also, I think I'll take some money out of the buy-low-sell-high project tomorrow to cover expenses.

    Off to bed.
     
  8. EvilKoala

    EvilKoala Newbie

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    Sorry I didn't post yesterday. My Internet connection was really unstable and I was tired. So I just skipped a day.



    Buy low, sell high:

    • Stock added since the day before yesterday until yesterday: +65.56 USD
    • Stock added since yesterday: 0 USD

    No profit was made today at all. Not that anything went wrong, mind you. It's just that since I requested a 250 USD withdrawal, I couldn't use the money to buy more stock, so I made no profit. I sold enough to have made around 75 USD in increased stock though.

    Had a problem just now though. Almost 200 USD worth of stock bugged out and is "stuck" so to speak. I haven't lost it, but I can't sell it or get it back. Last time this happened, it took 6 weeks to get it sorted out. Yikes.

    I still haven't setup the Instagram thing. I'll do that tomorrow, promise.
     
  9. DzCrow

    DzCrow Newbie

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    Good luck bro ....
     
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  10. danh0001

    danh0001 Regular Member

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    Good luck with your journey,
     
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  11. EvilKoala

    EvilKoala Newbie

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    Buy low, sell high:

    • Stock added since my last post until yesterday: +183.19 USD (+45.80 USD/day)

    The weekend was quite bad. Sells slowed, and with the stock I had stuck, my supplier not really working properly, and the fact I don't work full time on the weekends made it difficult to even measure how much I was making. Oh, well.

    Did nothing with Instagram yet. Been busy with the main project. Will try to get to it today.
     
  12. EvilKoala

    EvilKoala Newbie

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    Buy low, sell high:

    • Stock added yesterday: +111.11 USD

    Quick update. Was a good day. Spent the whole day working on automating the project. Instagram might need to wait a few days. I have to finish the code I'm working on before Friday.

    Cheers
     
  13. Jaytizel

    Jaytizel Regular Member

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    Great, I will keep watching.
     
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  14. EvilKoala

    EvilKoala Newbie

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    Buy low, sell high:

    • Stock added yesterday: +93.65 USD


    Funny thing happened today. Market went up a few percentage points, so my existing stock went up in value somewhat. The day should have ended up around 50-60 USD based on how much I sold.
     
  15. EvilKoala

    EvilKoala Newbie

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    Buy low, sell high:

    • Stock added yesterday: +198.73 USD

    Hollyyyyy sshhhhh....!

    Not sure exactly how this happened, but I cleared almost 200 bucks. Very happy with myself. Automation is also going well. Still a lot of work left to be done, but the thing is taking shape.

    Will not work much tomorrow. My girlfriend is visiting for the next 10 days and arriving tomorrow afternoon. I won't have more than a couple hours to work in the morning, and I'll just spend the afternoon and evening with her.

    Cheers
     
  16. EvilKoala

    EvilKoala Newbie

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    Hi, just checking in. Haven't dropped off the face of the earth. Just been having an erratic week. There's been delays, my work hours are being cut in half while my girlfriend is in town, and so on. I'll be back to full speed in a few days. I'll update when I have some numbers to report.
     
  17. loedown

    loedown Jr. VIP Jr. VIP

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    Have fun gambling
     
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  18. EvilKoala

    EvilKoala Newbie

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    Checking in, mostly catched up with work after the last few weeks. Finally have some numbers for March, as follows:

    Buy low, sell high:

    • Stock added through out the month: +1,852.61 USD
    • Money withdrawn (gotta eat!): -950.00 USD


    Not really sure how things are going to turn out for April, don't have any day to day numbers for the month so far. I'm still not fully catched up with that. Hoping to go back to day to day updates soon.

    As for the social stuff with IG, it's on hold for the next week or so at least while I finish playing catch up.

    Enough yapping, back to work :).
     
  19. Cruncke

    Cruncke Junior Member

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    Where do you trade stocks?
    BTW good luck in your journey!
     
  20. suradreamz

    suradreamz Power Member

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    I think there are many more reliable methods to make big money... just need to find trusted ways
    I did it & already making huge $$