For those that don't know, Passive Income is income that you receive without having to do work.  Well, that's not exactly true.  It's income that you receive over a long period of time for a lot of work that you do up front.  I intent to document my endevours to create passive income streams in this blog.

First Attempts:

I have one primary income stream up and running already, with two more in the works.  The first is a website hosting business.  I primarily partner with web designers who want to offer web hosting to their clients.  I receive an annual check for each hosting account that is setup, with each account having a different level of service.  So far, this is my most successful income stream, which generates approx. $1100 per year.

My other two developing income streams are iPhone applications and Online Affiliate Marketing.  I submitted my first iPhone application a few days again, it is waiting to be approved.  The affiliate marketing is starting slowly.  I have submitted several articles and setup my first affiliate site, but creating the content is really difficult for me.  The program I enrolled in focused so much on the technology that it was lacking on content creation.  I do not have any problems setting up web sites, registering domain names, or creating accounts on online services.  What I have trouble with is writting the content to get people to my main site.  I think I will end up outsourcing the article writting once I start making some money from this income stream, but until then it will be a slow start up.

What's Next:

Right now I am focused on content creation for my affiliate site and articles for publication.  Once that is done, I plan on creating another affiliate site to promote a different niche market.  I also hope to create another iPhone application that emulates flash cards as a study aid for students, once my current application has been accepted by Apple.