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How I Built 5 Streams Of Passive Income By Age 20 (College Dropout)

Published on: November 30 2022 by Carter Maxwell

How I Built 5 Streams Of Passive Income By Age 20 (College Dropout)

How I Built 5 Streams Of Passive Income By Age 20 (College Dropout)

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00:00:00 00:00:04 what's up everyone carter here and today
00:00:02 00:00:07 i would like to explain and break down
00:00:04 00:00:09 in depth how i was able to create five
00:00:07 00:00:11 streams of passive income
00:00:09 00:00:13 by the age of 20. now hopefully by me
00:00:11 00:00:14 being transparent and honest i'll be
00:00:13 00:00:16 able to open up your mind to the
00:00:14 00:00:18 possibility of you
00:00:16 00:00:19 potentially creating an additional
00:00:18 00:00:21 stream of income for yourself
00:00:19 00:00:24 i know most of you watching this video
00:00:21 00:00:26 are interested in creating a passive
00:00:24 00:00:27 income stream i understand that most of
00:00:26 00:00:29 you are probably beginners
00:00:27 00:00:30 you know when it comes to finances and
00:00:29 00:00:32 that is totally okay
00:00:30 00:00:34 because if you watch this video through
00:00:32 00:00:36 you will have a much better
00:00:34 00:00:37 understanding of what it takes to build
00:00:36 00:00:39 a passive stream of income
00:00:37 00:00:41 and hopefully it'll open up your mind to
00:00:39 00:00:43 the different opportunities of passive
00:00:41 00:00:44 income streams that you could try to
00:00:43 00:00:46 pursue yourself
00:00:44 00:00:48 so everyone you know the drill smash
00:00:46 00:00:49 that like button if you are not yet
00:00:48 00:00:51 subscribed to the channel
00:00:49 00:00:53 go ahead hit that subscribe button hit
00:00:51 00:00:55 the little bell notification next to it
00:00:53 00:00:57 so you can turn on post notifications so
00:00:55 00:00:58 you never miss a future upload from me
00:00:57 00:01:00 and let's go ahead and get right into
00:00:58 00:01:02 the video so my first
00:01:00 00:01:04 passive stream of income is reselling on
00:01:02 00:01:05 amazon and throughout this video i'm
00:01:04 00:01:06 going to try to give you um you know
00:01:05 00:01:08 some videos
00:01:06 00:01:10 some photographs some evidence of my
00:01:08 00:01:11 different businesses so hopefully i can
00:01:10 00:01:13 provide
00:01:11 00:01:15 um you know some better visual
00:01:13 00:01:17 representation of my businesses but
00:01:15 00:01:20 reselling on amazon has been my first
00:01:17 00:01:21 income stream it is my largest by far
00:01:20 00:01:24 i've been selling products online since
00:01:21 00:01:26 the age of 13 starting on ebay
00:01:24 00:01:28 i went to amazon full time at the age of
00:01:26 00:01:31 17 so i could spend all my time
00:01:28 00:01:32 and energy making as much money selling
00:01:31 00:01:34 products on amazon and i've
00:01:32 00:01:36 had a great experience selling on amazon
00:01:34 00:01:36 sold thousands of different products
00:01:36 00:01:39 from
00:01:36 00:01:41 electronics to video games to beauty
00:01:39 00:01:43 products to toys to books to
00:01:41 00:01:44 cd i mean i've sold anything and
00:01:43 00:01:46 everything on amazon and it's been a
00:01:44 00:01:48 crazy experience and
00:01:46 00:01:49 reselling amazon has been a great stream
00:01:48 00:01:50 of income for me
00:01:49 00:01:52 you know i've been able to do it since
00:01:50 00:01:54 my early high school years to where i am
00:01:52 00:01:56 now at 20 years old
00:01:54 00:01:58 i mean literally six months ago i did
00:01:56 00:01:58 over forty three thousand dollars in a
00:01:58 00:02:01 single month
00:01:58 00:02:03 selling vitamins on amazon around two
00:02:01 00:02:05 months ago um i hopped on a really
00:02:03 00:02:06 really trendy product actually probably
00:02:05 00:02:09 around six to eight different products
00:02:06 00:02:11 and i was able to do in a 30-day time
00:02:09 00:02:13 period over 140 000
00:02:11 00:02:15 in sales um those are not typical
00:02:13 00:02:15 numbers to me um those are just some of
00:02:15 00:02:18 the
00:02:15 00:02:19 um high points of my reselling career on
00:02:18 00:02:21 amazon
00:02:19 00:02:23 and amazon has treated me very very well
00:02:21 00:02:25 i've been able to teach a lot of people
00:02:23 00:02:26 how to sell on amazon as well and
00:02:25 00:02:27 overall it's a great platform and it's
00:02:26 00:02:28 definitely something you should check
00:02:27 00:02:30 out
00:02:28 00:02:31 um you know if you're interested in the
00:02:30 00:02:34 whole buy low
00:02:31 00:02:36 sell high kind of make money business
00:02:34 00:02:38 now my second stream of income is
00:02:36 00:02:40 affiliate marketing now this is a great
00:02:38 00:02:41 business model for beginners because it
00:02:40 00:02:43 doesn't require
00:02:41 00:02:45 you know any money to get started when
00:02:43 00:02:47 you're running an affiliate marketing
00:02:45 00:02:50 business essentially you are promoting
00:02:47 00:02:51 you are trying to sell other companies
00:02:50 00:02:54 other people's
00:02:51 00:02:56 services or products for a commission
00:02:54 00:02:58 so for example i can give an example
00:02:56 00:03:00 also a screenshot up here
00:02:58 00:03:02 this is me promoting the jungle scout
00:03:00 00:03:04 software so jungle scout software is a
00:03:02 00:03:07 software that you can integrate
00:03:04 00:03:09 in your amazon fba business to do
00:03:07 00:03:11 product research and you know to just
00:03:09 00:03:13 take your business to the next level so
00:03:11 00:03:14 when i was using the software and i had
00:03:13 00:03:16 this youtube channel
00:03:14 00:03:18 i had the thought you know what let me
00:03:16 00:03:19 just make a quick tutorial
00:03:18 00:03:22 video you know toking about the
00:03:19 00:03:23 software showing how it works and
00:03:22 00:03:25 you know i mentioned in the video if
00:03:23 00:03:27 anyone's interested in you know getting
00:03:25 00:03:29 this software then click the link in the
00:03:27 00:03:30 description of this video to join and
00:03:29 00:03:32 every time someone would go through my
00:03:30 00:03:34 link and purchase and sign up for the
00:03:32 00:03:36 software i would get a small commission
00:03:34 00:03:38 now depending on how many people view
00:03:36 00:03:39 the video how many people actually go
00:03:38 00:03:41 through and
00:03:39 00:03:42 buy the product or service you're
00:03:41 00:03:43 promoting you can make a really good
00:03:42 00:03:45 amount of money
00:03:43 00:03:47 now everyone's wondering carter how much
00:03:45 00:03:50 money do you make and to be honest
00:03:47 00:03:51 it's really been everywhere i mean when
00:03:50 00:03:52 i first started obviously i was bottom
00:03:51 00:03:54 line
00:03:52 00:03:55 zero um you know i was pro owning
00:03:54 00:03:57 softwares and then i
00:03:55 00:03:59 i've just i've been always trying
00:03:57 00:03:59 different products different services
00:03:59 00:04:01 and
00:03:59 00:04:03 the cool thing about promoting them on
00:04:01 00:04:04 youtube is if you get a video that takes
00:04:03 00:04:06 off it gets five
00:04:04 00:04:08 ten fifteen thousand views you have the
00:04:06 00:04:09 potential to make a really really good
00:04:08 00:04:11 amount of money i've had months where i
00:04:09 00:04:12 make anywhere from two to three hundred
00:04:11 00:04:13 dollars
00:04:12 00:04:15 and then we're up to five or six
00:04:13 00:04:17 thousand dollars in commissions
00:04:15 00:04:19 um the opportunity is really endless
00:04:17 00:04:20 it's not something i spend a ton of time
00:04:19 00:04:22 and effort on
00:04:20 00:04:24 but the beautiful thing about it is it's
00:04:22 00:04:26 a very passive income stream i post a
00:04:24 00:04:28 video on youtube promoting a product
00:04:26 00:04:29 i never have to touch that video again
00:04:28 00:04:32 so that video
00:04:29 00:04:33 is on youtube forever and whenever
00:04:32 00:04:35 people come to it
00:04:33 00:04:37 i'm promoting a product or service and
00:04:35 00:04:38 every time they buy it you know i make a
00:04:37 00:04:39 little bit of a commission i make a
00:04:38 00:04:42 little bit of money from it so that's my
00:04:39 00:04:42 second income stream now my third income
00:04:42 00:04:45 stream is
00:04:42 00:04:46 youtube ad revenue so at the time i'm
00:04:45 00:04:50 recording this i have around
00:04:46 00:04:53 33 34 000 subscribers
00:04:50 00:04:54 just in the last 30 days or 28 days i
00:04:53 00:04:58 think i've done over 1900
00:04:54 00:05:01 in ad revenue or made 1900 ad revenue
00:04:58 00:05:03 um but i mean this is by any means not
00:05:01 00:05:05 make money overnight this has been an
00:05:03 00:05:06 overnight success for me i've been on
00:05:05 00:05:07 youtube for
00:05:06 00:05:09 three and a half years you know i
00:05:07 00:05:10 started out in high school
00:05:09 00:05:12 you know trying to teach people how to
00:05:10 00:05:13 make money on amazon how to make money
00:05:12 00:05:14 on ebay
00:05:13 00:05:16 you know i was getting made fun of at
00:05:14 00:05:18 school i had 100 200 subscribers
00:05:16 00:05:21 everyone thought i was a joke and
00:05:18 00:05:24 i just kept going so now i'm like 240
00:05:21 00:05:26 videos posted on my channel well over
00:05:24 00:05:27 2 million views i couldn't even monetize
00:05:26 00:05:29 my channel
00:05:27 00:05:30 until i turned 18 years old where i
00:05:29 00:05:33 could actually
00:05:30 00:05:35 you know legit make money from ad
00:05:33 00:05:38 revenue because that's when i was 18.
00:05:35 00:05:40 but this income stream is legit it is
00:05:38 00:05:41 the definition of passive income because
00:05:40 00:05:43 essentially on youtube
00:05:41 00:05:45 you can create a video you can post it
00:05:43 00:05:46 and that video will be on youtube
00:05:45 00:05:47 forever
00:05:46 00:05:49 and depending on the amount of views
00:05:47 00:05:50 depending on the watch time that video
00:05:49 00:05:53 receives
00:05:50 00:05:55 you'll be able to generate ad revenue
00:05:53 00:05:57 which is really really cool because
00:05:55 00:05:59 i've had videos that i post and you know
00:05:57 00:06:00 they get some views i make a little bit
00:05:59 00:06:02 of money but they just very stagnant and
00:06:00 00:06:04 then all of a sudden syncs
00:06:02 00:06:05 six months later a year later the video
00:06:04 00:06:07 pops off and gets
00:06:05 00:06:09 10 15 20 000 views and i start
00:06:07 00:06:10 generating more ad revenue
00:06:09 00:06:12 this is really really cool i know there
00:06:10 00:06:13 are some requirements i think you have
00:06:12 00:06:15 to have a thousand
00:06:13 00:06:16 subscribers and like 4 000 watch hours i
00:06:15 00:06:18 don't remember the exact requirements
00:06:16 00:06:19 don't quote me on that
00:06:18 00:06:21 but once you reach that it's a very very
00:06:19 00:06:22 passive stream of income and i don't
00:06:21 00:06:24 really focus
00:06:22 00:06:25 you know on you know building my
00:06:24 00:06:27 business around the ad revenue
00:06:25 00:06:29 you know that's just kind of a business
00:06:27 00:06:32 bonus that youtube kind of kicks to me
00:06:29 00:06:34 um you know for the past two years since
00:06:32 00:06:36 i started advertising on my channel i
00:06:34 00:06:39 would say it's been anywhere from
00:06:36 00:06:41 you know 400 to 600 consistently for at
00:06:39 00:06:43 least like a year and a half and then
00:06:41 00:06:45 you know i'd say around six months ago
00:06:43 00:06:47 you know my videos really started to
00:06:45 00:06:48 gain some traction and i would say over
00:06:47 00:06:50 the past
00:06:48 00:06:51 five to six months i've been able to
00:06:50 00:06:53 generate anywhere from
00:06:51 00:06:55 fifteen hundred dollars to around
00:06:53 00:06:58 probably twenty one hundred dollars
00:06:55 00:07:00 um in a thirty day period with youtube
00:06:58 00:07:02 ad revenue now i did wanna put this out
00:07:00 00:07:04 there because i think a lot of people
00:07:02 00:07:05 you know they misunderstood the meaning
00:07:04 00:07:07 of passive income
00:07:05 00:07:08 for some reason i think a lot of people
00:07:07 00:07:11 think passive income is you know
00:07:08 00:07:12 sitting on the beach you know lounging
00:07:11 00:07:15 in a chair and you're
00:07:12 00:07:17 making thousands of dollars and really
00:07:15 00:07:20 the definition of passive income
00:07:17 00:07:22 starts when you put a ton of time and
00:07:20 00:07:23 effort and money into building a great
00:07:22 00:07:26 structure a great
00:07:23 00:07:27 a great foundation in your business
00:07:26 00:07:29 that's profitable
00:07:27 00:07:30 so that down the road you can still
00:07:29 00:07:33 generate
00:07:30 00:07:34 an income generate a profit with very
00:07:33 00:07:36 very minimal
00:07:34 00:07:37 effort that's my definition of passive
00:07:36 00:07:38 income
00:07:37 00:07:40 so if i'm building these businesses i'm
00:07:38 00:07:42 building a great structure
00:07:40 00:07:44 six months a year two years down the
00:07:42 00:07:46 road i'm still able to generate an
00:07:44 00:07:47 income from that business with very very
00:07:46 00:07:49 minimal
00:07:47 00:07:50 effort so that's what i consider passive
00:07:49 00:07:53 income to be
00:07:50 00:07:54 you can have your own definition of it
00:07:53 00:07:55 but i feel like there's a lot of content
00:07:54 00:07:57 a lot of people out there
00:07:55 00:07:59 you'll make passive income in seven days
00:07:57 00:08:00 you know i make passive income in 30
00:07:59 00:08:03 days it is
00:08:00 00:08:04 possible but it's just not reasonable to
00:08:03 00:08:06 have those kind of expectations
00:08:04 00:08:08 especially as a beginner so my fourth
00:08:06 00:08:11 stream of income
00:08:08 00:08:13 is stoks dividends index funds
00:08:11 00:08:15 basically everything i'm investing
00:08:13 00:08:17 in the stok market and it's really
00:08:15 00:08:19 difficult for me to pinpoint
00:08:17 00:08:20 an amount of money that i'm making every
00:08:19 00:08:22 single month because that's not really
00:08:20 00:08:24 what i'm focusing on whenever i make an
00:08:22 00:08:26 investment in the stok market i'm
00:08:24 00:08:29 holding long term i'm trying to create
00:08:26 00:08:31 long-term wealth i'm trying to compound
00:08:29 00:08:33 my interest compound
00:08:31 00:08:34 the wealth compound you know the
00:08:33 00:08:35 investments that i have in the stok
00:08:34 00:08:37 account
00:08:35 00:08:38 and i know day trading you know is very
00:08:37 00:08:40 popular right now and people are making
00:08:38 00:08:42 thousands of dollars here and there
00:08:40 00:08:43 but there's also people that are losing
00:08:42 00:08:45 thousands of dollars here and there and
00:08:43 00:08:46 i don't have the time and effort to try
00:08:45 00:08:48 to learn
00:08:46 00:08:50 day trading because i already have you
00:08:48 00:08:53 know my expertise skills that i
00:08:50 00:08:55 use to make money so that income stream
00:08:53 00:08:55 is fairly passive in the sense that you
00:08:55 00:08:57 know
00:08:55 00:08:59 when i'm generating all of this income
00:08:57 00:09:00 from my businesses instead of having it
00:08:59 00:09:01 just sit in my bank account not
00:09:00 00:09:03 collecting any interest
00:09:01 00:09:05 you know i'll strategically invest that
00:09:03 00:09:07 money into the market if that's in
00:09:05 00:09:08 individual stoks and companies if
00:09:07 00:09:10 that's in index funds
00:09:08 00:09:12 if that's in mutual funds you know so i
00:09:10 00:09:13 can take a few different sectors of the
00:09:12 00:09:16 stok market to
00:09:13 00:09:18 place my money so that over time you
00:09:16 00:09:20 know as the market grows hopefully
00:09:18 00:09:22 you know i can compound that interest
00:09:20 00:09:23 over time and that's a whole separate
00:09:22 00:09:25 video toking about compound interest in
00:09:23 00:09:26 the stok market
00:09:25 00:09:28 um but for right now some of the top
00:09:26 00:09:30 companies i'm invested in are
00:09:28 00:09:32 tesla which is fairly volatile but it's
00:09:30 00:09:34 always an interesting company to
00:09:32 00:09:35 own some equity in own some stok in
00:09:34 00:09:37 apple you know some of the big ones
00:09:35 00:09:39 amazon's a big stok for me
00:09:37 00:09:40 i'm a big online retail guy you know
00:09:39 00:09:42 etsy
00:09:40 00:09:44 i have a little bit of walmart um those
00:09:42 00:09:45 are some of the bigger companies i'm
00:09:44 00:09:46 invested in
00:09:45 00:09:49 obviously i'm in some mutual funds and
00:09:46 00:09:50 index funds which kind of mimic the
00:09:49 00:09:53 market of you know a bunch of different
00:09:50 00:09:55 companies kind of put together in one
00:09:53 00:09:56 um so i do own some stok in a bunch of
00:09:55 00:09:57 different companies but that is my
00:09:56 00:10:01 fourth stream of income
00:09:57 00:10:03 now my fifth stream of income is courses
00:10:01 00:10:04 coaching and consulting and this is an
00:10:03 00:10:06 income stream that i'm trying to work a
00:10:04 00:10:07 little bit more on
00:10:06 00:10:08 because i think it's something that i've
00:10:07 00:10:11 lacked in the past because personally
00:10:08 00:10:12 i'm a people person you know i like
00:10:11 00:10:14 generally helping people i like
00:10:12 00:10:16 delivering results and i know there's a
00:10:14 00:10:18 lot of commotion on youtube and
00:10:16 00:10:20 you know in the make money online world
00:10:18 00:10:22 about courses and coaching and
00:10:20 00:10:23 you know how some of them are good some
00:10:22 00:10:25 of them are bad and you know i had a
00:10:23 00:10:26 course around two years ago you know
00:10:25 00:10:27 teaching people to basic selling on
00:10:26 00:10:29 amazon
00:10:27 00:10:31 you know i really enjoyed doing it i got
00:10:29 00:10:33 my students results
00:10:31 00:10:35 i never really heavily promoted it on
00:10:33 00:10:36 instagram or youtube and for that reason
00:10:35 00:10:39 i never really generated any
00:10:36 00:10:41 large income from that um however
00:10:39 00:10:43 in the past couple of months i've been
00:10:41 00:10:43 working on putting together you know a
00:10:43 00:10:45 brand new
00:10:43 00:10:47 reselling on amazon course was which has
00:10:45 00:10:48 been taking me a ton of time and effort
00:10:47 00:10:49 and i've also created a discord
00:10:48 00:10:52 community
00:10:49 00:10:53 um where i provide leads and i provide
00:10:52 00:10:55 assistance to new
00:10:53 00:10:56 amazon and ebay sellers those are kind
00:10:55 00:10:59 of two of the different
00:10:56 00:11:00 coaching mentorship products that i'm
00:10:59 00:11:02 working on
00:11:00 00:11:04 i really do enjoy genuinely helping
00:11:02 00:11:07 people i've already done a small
00:11:04 00:11:08 trial run um for my reselling on amazon
00:11:07 00:11:10 course and my students have been getting
00:11:08 00:11:12 great results with this so you know i
00:11:10 00:11:12 have no problem promoting it if i know
00:11:12 00:11:14 that
00:11:12 00:11:16 the students that i take on are willing
00:11:14 00:11:18 to put in the time and the effort
00:11:16 00:11:20 you know into learning the business
00:11:18 00:11:21 model into going out and buying products
00:11:20 00:11:23 and actually
00:11:21 00:11:25 listing them on amazon to sell and to be
00:11:23 00:11:25 honest there's a lot of people trying to
00:11:25 00:11:28 sell
00:11:25 00:11:29 you know coaching and courses and
00:11:28 00:11:31 unfortunately there's a lot of
00:11:29 00:11:33 unethical people out there people using
00:11:31 00:11:34 unethical ways of marketing to sell
00:11:33 00:11:35 their info products or to sell their
00:11:34 00:11:36 courses and
00:11:35 00:11:38 you know i i think that's very
00:11:36 00:11:39 unfortunate i think it's very misleading
00:11:38 00:11:40 to
00:11:39 00:11:42 especially the beginner audience on
00:11:40 00:11:43 youtube but for me
00:11:42 00:11:45 you know i have people reaching out to
00:11:43 00:11:48 me wanting more content
00:11:45 00:11:49 wanting that next level information and
00:11:48 00:11:49 you know i don't mind helping them
00:11:49 00:11:51 because
00:11:49 00:11:53 it's it's very fulfilling to help
00:11:51 00:11:54 someone create an additional two
00:11:53 00:11:56 or three thousand dollars a month i've
00:11:54 00:11:58 had some students do ten
00:11:56 00:11:59 fifty thousand dollars in a month so
00:11:58 00:12:01 it's really really cool that is an
00:11:59 00:12:03 income stream that isn't generating me
00:12:01 00:12:04 much at the moment
00:12:03 00:12:06 um i could definitely see it being
00:12:04 00:12:06 something in the future where i you know
00:12:06 00:12:07 take on
00:12:06 00:12:09 a couple more students you know i
00:12:07 00:12:10 continue to grow my community and
00:12:09 00:12:12 obviously
00:12:10 00:12:13 i will keep you guys updated on that as
00:12:12 00:12:14 well now i did want to put this out
00:12:13 00:12:16 there but i've been able to make money
00:12:14 00:12:17 from a couple different businesses or
00:12:16 00:12:19 you know a few other
00:12:17 00:12:20 income streams but for some reason
00:12:19 00:12:22 either they
00:12:20 00:12:24 weren't generating enough money or they
00:12:22 00:12:25 just weren't very consistent enough for
00:12:24 00:12:27 me to be able to put them
00:12:25 00:12:30 in this video now what i hope is that
00:12:27 00:12:31 over the next six months to maybe a year
00:12:30 00:12:34 i'm able to actually create an
00:12:31 00:12:34 additional maybe one to two streams of
00:12:34 00:12:37 income
00:12:34 00:12:38 that are consistently generating me a
00:12:37 00:12:40 stream of income
00:12:38 00:12:41 to where i could maybe make an update
00:12:40 00:12:44 video and tok about those
00:12:41 00:12:46 new income streams as well anyways i
00:12:44 00:12:47 hope you all appreciate me being honest
00:12:46 00:12:48 and transparent
00:12:47 00:12:50 you know about the different income
00:12:48 00:12:52 streams and passive income streams
00:12:50 00:12:54 that i have as a 20 year old
00:12:52 00:12:55 entrepreneur of course if you have any
00:12:54 00:12:56 questions regarding anything i toked
00:12:55 00:12:58 about in this video
00:12:56 00:13:00 feel free to comment below i'll get back
00:12:58 00:13:02 to you as soon as possible of course if
00:13:00 00:13:04 you got any value from this video please
00:13:02 00:13:05 smash that like button if you are not
00:13:04 00:13:07 yet subscribed
00:13:05 00:13:09 go ahead subscribe to the channel hit
00:13:07 00:13:10 that little bell notification so you can
00:13:09 00:13:12 get
00:13:10 00:13:14 post notifications turned on so you
00:13:12 00:13:15 never miss a future upload from me
00:13:14 00:13:18 and i hope to see you all in the next
00:13:15 00:13:18 video