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July 2016: Passive Income Report - Digital Nomading in Porto, Brussels, Berlin, Warsaw and Krakow!

I just realized how many countries I've traveled to these past 31 days! It's such a blessing to be able to earn money through passive income while being able to travel as a digital nomad throughout Europe during the summer. If you haven't read Life Changes Quick, the reason why I've been so excited to spend the summer in Europe is because to me it represented ultimate freedom. The first stage of freedom was being able to live as cheaply as possible in Thailand, which was awesome for seeing cool places and bootstrapping my first business.

But the next step was to be able to afford to live anywhere in the world and Europe being one of the most beautiful places on Earth during the summer was on my to do list as it was a goal that I've been trying to achieve since 2013. I'm happy to announce that I just spent the last month doing just that. I started this month in Porto, Portugal, headed back through Lisbon for a few nights on my way to Berlin, Germany while spending a few nights eating Belgian Chocolates and drinking world class beer in Brussels, and finally ending up in both Warsaw and Krakow, Poland. Best of all, if I've calculated it right in my head, the passive income I've earned this past month has more than covered what I spent. But as always, I have no idea how much I actually made until writing this live, so here we go!

P.S. if you're rather see me explain the income report live on youtube, watch this video instead.



Income from Books



I'm not really sure why there was an increase in sales for my two books this month as I haven't marketed them but I was a guest on a couple different podcasts this month including sharing my journey on Path Hunters and written about in Leah Davis from The Sweetest Way's new book called "Take Your Life Back." 

Either way, i'm happy I'm getting my story out there as it really helps people see the mindset and dedication it takes to become successful with online business. Big thanks to Cps, Jb, Marko, and everyone else who has taken the time to leave reviews of both 12 Weeks in Thailand and Life Changes Quick on Amazon after reading the books! 

Amazon Kindle: $233.43 +/-
Direct PDFs: $71.92
Paperback Profit: $18.53

Total Profit from Books: $323.88 +/-

*increase from $257.13 last month


amazon income report






Income from Udemy



My goal for creating a new course on Udemy was to be able to partially replace the loss of monthly income from selling one of my dropshipping stores by teaching some of the formulas I used to run that store profitably and turn it from a $2,000 a month income stream into one that brought me over $100,000 a year. 

I had a huge first month in June when I first launched my new course Dropship Lab: Six Figure Secrets and the goal was for me to never have to mention it again and have Udemy just organically promote it on my behalf. This month I earned $244.92 from my promotions and Udemy pretty much matched it with another $200 from their sources so all in all, it's a nice stream of completely passive income now that the course is live. 

Total Profit from Udemy: $446.07

*decrease from $1,611.47 last month




udemy income report





Income from Dropshipping



The downside of selling my main dropshipping store for a one time payment to $60k is the fact that I've now given up $2k~ a month in income.  The good news is, I now have pretty much zero responsibilities this summer while I travel through Europe. Hanging out with my buddy Chris Lioe these past few weeks in Poland, he's had to go home every night to answer emails, fulfill orders and handle customer service for his store while I've been going on pub crawls, playing Pokemon Go, and watching season 2 of Silicon Valley.

The funniest thing about this is that when he complained the other night about being annoyed at having so many customers to deal with, I reminded him that a few years ago before he started his store he would have complained that he wished he had customers to deal with. All of this is thanks to what we learned in Anton's dropshipping course. Luckily he's finally committed to hiring a VA and outsourcing his customer service so he can turn his business into a semi-automated passive income stream. This has been a slow month I think mainly due to both Larissa and I being busy as well as my customer service guy being on his annual camping trip with no reception but it's still actually better than our July 2015 month which makes me not worry.

P.S. if you haven't see it yet, I'm planning on starting a bunch of new stores in November and I'm looking for partners to start new stores with. 


Gross Revenue: $10,089.00
Costs of Goods: ~
Shipping Costs: ~
Credit Card Costs: $292.58
Ad budget: $902.14
Retargeting Ads: $21.60
Phone Support: $150
Bonuses: $115

Total Profit: $1,106.43

*decrease from $1,972.44 last month (split 50/50 with Larissa)



My Shopify dashboard. Get 20% off Shopify in this PDF coupon.





Income from Investments



The best news about selling my dropshipping store is the fact that I got a lump sum of cash up front to invest with. I'm a huge fan of completely passive income and having my money make me more money while I sleep is the ultimate form of truly passive income. Even though technically I made $3,564 this month from my Vanguard account increasing in value this month I'm not going to include it in my income report as I'm not actually selling my funds yet. I'm only going to include dividends and interest received on my various investments as it's a bit unfair to calculate income before I actually cash it out.

If you want to see everything I invest in, here's my most recent investment report where I show screenshots of everything I invest in and screenshots of my dashboards.

Total Profit from Investments: $200 +/-


*decrease from $393 as dividends are paid quarterly



vanguard investments
My personal Vanguard dashboard, mostly VTI index funds




Income from Youtube



Having a youtube channel is awesome. It's not only a free place to host videos that I would have made anyways, but they actually pay you for it. People also offer to send me free stuff to review all of the time, but since I don't have a permanent address I've usually just been saying no unless it's something that I've wanted to buy myself anyways.

Anyways if you haven't checked out my Youtube videos, you can find them here including the coolest video that I think i've made till now.






Total profit from Youtube: $61.28


*decrease from $89.99 last month







Income from Affiliates



My favorite source of passive income after investment income is affiliate income as it's one of those sources that keeps growing every month as long as you are earnest about your recomendations and only recommend things that honestly work. In a world where so many people are just out to make a quick buck, developing and building trust over months or years is becoming more and more valuable. When someone buys something through my recommended resources page they know they that it's something I personally use and would recommend to my friends.

The real secret on why my affiliate income keeps consistently growing every month is because I don't do any super hypey launches or promote crap for a quick buck. If you look at anything I recommend, it's the same things that have been working for me for years and I'm super careful about adding new things to my resources page as I want to test them myself first and get results before I share it with my audience. Because of that, a lot of people go out of their way now to make sure they use my links and give me credit for whatever they end up buying which to me is the ultimate compliment.

As an example, if you buy something now through my Amazon Affiliate link I'll get credit for referring you. Some of the things I promoted on my blog include the Blue Yeti Microphone which is one of the best budget friendly usb mics.


Total profit from Affiliates: $22,191.59

*increase from $14,110.94 last month



Just a few of the random products I've gotten Amazon affiliate commissions for in July. 


One of my sources of affiliate income, see the case studies inside EarnestAffiliate.com



Income from Courses



I'm a big believer in taking courses for subjects you want to learn, then creating courses to teach what you've been successful at, especially if you have a unique way of doings things that have given you great results. This month I've gotten 7 new students for my affiliate training course Earnest Affiliate where I show people how to find, get approved for and promote affiliate offers for products they personally use and genuinely recommend.

I also participated in the 2016 Paradise Pack which is a 7 day flash sale that includes a bunch of stuff for remote workers. For this I gave access to the first section of my course without access to the case studies, just enough for people to get a good grasp on what being an affiliate is and how to start looking for offers. If you follow me on twitter or facebook you'll see me share things like this as they come out, but honestly, if you're serious about earning money online from your blog, youtube channel, email list, instagram following, or brand in general, I'd suggest signing up for my full course as it's currently only $197 and you get lifetime access to all of the modules.

Sales from Paradise Pack: $1,264.50
Sales from EarnestAffilate.com: $1,611

Total Profit from Courses: $2,875.50

*increase from $1,257.05 last month


My Earnest Affiliate signups for July using SamCart



Total Passive Income from July 2016



It's still insane to me that I'm able to earn this amount of money while working as little as 4-hours a week and traveling around with nothing but a backpack and my three year old Macbook Air. This past week I've been spending a bit more time at the coworking space here in Warsaw but most of that time spent is on creating my travel guides to all of the countries that I visit, uploading photos to facebook and catching up with friends from back home.

The fact that I'm on track to earn $250,000 this year while traveling as much as I do seems crazy. But honestly, it's not as easy as it looks. A big secret is the fact that all forms of passive income including all of mine, come from the hard work and long hours I put in months and sometimes years ago. The only reason why I'm able to go on walking tours of Belgium all day, eat waffles and drink beer while still getting paid is because I spent all of last year working my butt of creating multiple income streams that I've now automated or made semi-passive.


Total Passive Income for July: $26,651.53

*increase from $19,299.02 last month






Office Expenses: 



Intern Expenses: $600

Coworking for Intern: $100

Coworking Membership for me: $0

PDF hosting with e-junkie: $5

Web hosting with SiteGround: $14.95

Email Marketing with Aweber: $50

Email Optins with OptinMonster: $16.59

Email Accounts with GoogleApps: $8


Total office expenses: $794



Follow my travels on instagram.com/johnnyfdk



Living / Travel Expenses: 


Rent in Chiang Mai: $0 a month (friend sublet)

AirBnB Warsaw: $1,133 (three weeks)

Hotels/Hostels: $650 +/- (Porto, Lisbon, Brussels, Berlin, Krakow and Ełk)

Utilities: $0 a month

House Cleaner: $0

Internet/Phone: $20 a month

Food/Drinks: $1,000 +/-

Other/Misc: $270 +/-

Train from Porto to Lisbon: $40 +/-

Train from Berlin to Warsaw: $43.54

Train to/from Warsaw/Krakow: $60.75

Flight from Lisbon to Brussels: $106.23

Total travel expenses : $3,323 +/-



Photos and to drink list from Brussels, Belgium


Other Expenses:


Donation to Muay Thai Isaan (monthly recurring for children)

Donation to Warm Heart Worldwide (monthly towards Biochar Project)

Monthly Check to Parents ($1,000)



Big thanks to Evelind Schecter at Warm Hearts Charity


Thoughts for July:



It's been an incredible month! I got to hang out with one of my best friends in the world for three weeks in Poland, got to meet a ton of new cool digital nomads, and got to catch up with friends who I met in Chiang Mai years ago. We had a cool meetup in Berlin and Warsaw for listeners of the Travel Like a Boss podcast, and I got to work out of the new Google Campus: Warsaw for free. 

Even though I've been spending more money than usual with all of the traveling and eating out, I've created enough passive income to still be able to save money and invest in things like PeerStreet which will make me even more money in future months.  I truly believe that with the right direction and right amount of hard work anyone can live the lifestyle I have built. I wrote this start here post exactly three years ago and it still applies today. Regardless of what your journey or path will become, I hope you've started as that's the most important part...just starting. Best of luck and let me know how things are going for you as well!

P.S. if you want more details, here is my follow along video for the month!








Warm Regards,

Johnny FD


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Post a Comment

  1. Hey Johhny, great results and very inspiring as always. I am just starting out my online ventures I order to have mutiple stream of passive incomes like you do. I am curious when you worked on them, how was your approach? Did you focus on one at a time until it is at a certain stage before moving on to the next one? Or did you work on all of them together at once, scheduling your time accordingly throughout your day to work on all of them?

    ReplyDelete
    Replies
    1. Hey Life Changes Quick right Kevin? I'm glad you have been following they journey for such a long time! Focus on one at a time!

      Delete
    2. Thanks for the enlightenment :)

      Delete

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