But I feel the key to an early retirement is a passive income of at least $3000 a month without it depending on the highly volatile world markets (stocks, bonds, metals).
So this year I’m focused on just that, creating an income of at least $3000 a month passive income (meaning you get it and don’t have to do much of anything)… here in Ecuador.
And I’ll keep you updated on all the wins and losses.
Most entrepreneurs and independently employed lean on rental properties for that income. I don’t think that is the way to go here in Ecuador because rents are low and tenant laws problematic.
This week I launched my first try at it. A website for folks who want to rent cars in Quito, Ecuador.
The strategy: Once deal was made and site launched I found a bilingual Ecuadorian friend of mine who wants to make extra money who answers the emails and the calls and handles the bookings. The clients deposit to my account, then I split the commissions with him.
Our clients: Mainly Ecuadorians so we don’t have an instant book now feature, most Ecuadorians prefer to email, call, call again and then deposit in bank account to confirm booking.
The sales: In our first week we’ve sold for commissions of $3.60, $22, $20, $32. Total $77.60. Not bad for the first week, we’ll see from here how it goes.
One thing I’ve never seen many web gurus talk about are the incredible online opportunities there are in developing countries selling in the local language to locals. There simply isn’t much decent competition so it is possible to make an impact quickly.
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