24 Oct My discovery of Temporary Cash
Temporary Cash is an improvement from the One-Time Cash world, in that you work once and get paid again and again but only for a limited, temporary time.For example, when you sell a piece of real estate with seller financing, you might get a 20 percent down payment from the buyer, and then you receive monthly payments for ten years. In some of the transactions, you can buy a piece of land in the outskirts of a major U.S. city for— let’s say—$3,000 and sell it in a few days or a few weeks for $20,000. If you get a 20 percent down payment, you receive $4,000 down and then monthly payments of perhaps $300 for ten years.
Not only did you now get more as a down payment than you paid for the property (as a One-Time Cash down payment), but also for ten years, you get $300 in your mailbox every single month. Just think about that for a minute. You do fifteen such deals and you have $4,500 coming into your mailbox for ten years. Do thirty deals and you make over $100,000 a year in extra income!
I know you are familiar with this concept because you are a part of it every month in many ways. Unfortunately, you are on the wrong side of the game. Examples of this principle at work are your home mortgage, your car payment, and any online subscriptions you might have. Each and every month, you are being charged as part of a contract you have with another party/company. As a result, you are providing them with a stable, ongoing income that is not forever (you could always switch companies or refinance, you know) but it is usually for at least a few years at a time. Again, the problem is just that you are at the wrong end of the equation.
To be on the right end of the deal, you must set up income streams where people pay you. You could create Temporary Cash coming up with a service that people pay you monthly for but you only work once for. For example, if you wrote a book or a special report and published it through a portal like Amazon.com, you receive payments for the book sales every month for as long as the book sells. Now unless you write a book that becomes a classic, most books usually don’t sell forever, so that wouldn’t be considered Forever Cash, but you can reasonably expect that if the book meets any kind of a demand, you can sell it for two to three years and get checks every month for the sales generated. Yet, you only worked and wrote the book once.
You can also create Temporary Cash by selling something with installment payments. I just sold a motorcycle I had acquired by trading for services. When I sold it, I got $1,000 down and $200 a month for two years. That motorcycle costs me nothing more than some of my time to get, but now I receive cash flow from it for two years. You can also start an online membership site for people who are interested in a particular subject. You provide great monthly value in the form of a newsletter, making it specific content they can use for their purposes, and they will pay you a fee for it. Many people have made a good living setting up two to three of these types of newsletters and having just fifty to a hundred paying interested parties, each paying anything from $29 to $99 a month.
Anything can be made into a monthly membership site, which means Temporary Cash in your pocket.