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What Are You Doing To Build Passive Income?

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  • #31
    Cash discounting = an upcharge if paying via other than cash. Go to Youtube and search it. It's equivalent to paying an extra fee if paying by credit card. Have you ever paid for something with a credit card then noticed an extra fee and wondered what that fee entails? That fee was probably "cash discounting." Merchants who participate uses cash discounting to offset the fee added by credit card companies and basically makes the customer pay that fee via cash discounting. That's as best that I can explain it in a nutshell.

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    • #32
      Gas stations are an excellent example of cash discounting having different prices if paying by cash or credit cards.

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      • #33
        The salesperson who acquires merchants who utilize cash discounting gets a monthly commission continuously for life as long as the merchant keeps using cash discounting.

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        • #34
          Originally posted by QuarterMillionMan View Post
          The salesperson who acquires merchants who utilize cash discounting gets a monthly commission continuously for life as long as the merchant keeps using cash discounting.
          I understand that some places charge you less for paying cash. Some gas stations, as you said. Some furniture stores. Some other places.

          What I'm not understanding is what you mean here about acquiring merchants and getting a commission. If a merchant wants to give a cash discount, he does. He doesn't need a third party involved so I'm not following what you're talking about.
          Steve

          * Despite the high cost of living, it remains very popular.
          * Why should I pay for my daughter's education when she already knows everything?
          * There are no shortcuts to anywhere worth going.

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          • #35
            Originally posted by disneysteve View Post

            I understand that some places charge you less for paying cash. Some gas stations, as you said. Some furniture stores. Some other places.

            What I'm not understanding is what you mean here about acquiring merchants and getting a commission. If a merchant wants to give a cash discount, he does. He doesn't need a third party involved so I'm not following what you're talking about.
            Yeah, this doesn't make sense.
            james.c.hendrickson@gmail.com
            202.468.6043

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            • #36
              I'll try and locate the video I saw and post it here but keep in mind that I'm not affliated with it nor am I promoting it. It is just my understanding of how they get paid. It was very intriguing.

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              • #37
                "How Much Residual Can You Make?" - Introduction to Credit Card Processing (Part 4) - YouTube

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                • #38
                  Let's back up here and start from the basics. This video explains it.

                  Cash Discount Program Explained - YouTube

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                  • #39
                    All - bumping this with more focus. Are you guys doing anything that doesn't require a lot of effort, and can be done quickly that gives you passive income?

                    Don't want to take time away from my day job and my kids, but want to build up side revenue.
                    james.c.hendrickson@gmail.com
                    202.468.6043

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                    • #40
                      Originally posted by james.hendrickson View Post
                      All - bumping this with more focus. Are you guys doing anything that doesn't require a lot of effort, and can be done quickly that gives you passive income?

                      Don't want to take time away from my day job and my kids, but want to build up side revenue.
                      As interest rates have risen I’ve moved cash out of our money market into a couple of brokered CDs and a bunch of Treasuries. I went from 0.5% interest to as much as 2%. I’ve kept the durations short and laddered to have one mature every month so I can roll over into new ones as rates continue going up.
                      Last edited by disneysteve; 05-11-2022, 06:41 AM.
                      Steve

                      * Despite the high cost of living, it remains very popular.
                      * Why should I pay for my daughter's education when she already knows everything?
                      * There are no shortcuts to anywhere worth going.

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                      • #41
                        James creating content on Youtube might be something to pursue. I haven't done it but people seem to make good money doing it.

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                        • #42
                          Originally posted by amarowsky View Post

                          Thank you so much for mentioning this! Were I live in Michigan, I'm told the average price (what my buddy pays) to lease farm land to farming is in the neighborhood of $75-90 per acre.

                          Not certain where you live in the states, but Could you give me a ballpark @ what the USDA was paying per acreage for what you're doing? (just want to quickly weigh the options). Also TY for the mention to 15-20 acres, I was thinking 10 @ a minimum, but knowing this I'd happily make my "floor" acreage w/e the lowest offering is @ the USDA [pending the availability of the programs where I am planning on buying].

                          We're in Indiana and have several properties in various forms of these programs. I think out lowest priced one brings in approx. $85 / acre and the highest approx. $290 / acre. The row crop ground that we cash rent to farmer pays $180 / acre for comparison.
                          Go to your local USDA soils office and talk to someone about what might be available in your area.

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