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Nick Foy: How I Earn Passive Income

Who Is Nick Foy?

Hi guys, my name is Nick Foy, the dude you were just searching Google for.

Welcome to one of my many websites online dedicated to teaching others a topic or niche I’m passionate about. If you search my name, Nick Foy, you may also come across my golf brand or my real estate brands.

Thanks for taking the time today to research my name Nick Foy to see who I am and learn more about me.

I’ll also be sharing lots of links to my profiles on different platforms so you can become part of the Nick Foy community and hopefully learn some things that help improve your life in some way! I give back as much as I can to help others since I was blessed to be successful at a young age.

Let’s break down my story in phases and hopefully it inspires you depending on which phase you are currently in. It’s also a long story so I’ve shortened it up and made lots of general statements without going into deep detail. Maybe I’ll write an eBook some day instead that can be longer and in depth.

Nick Foy – Real Estate Investing

I started learning about passive income at age 19 during my first semester of college. I had a lot of down time each day when I wasn’t in class that I used to study passive income online and one method for earning passive income that stuck out was real estate investing.

Being able to buy real estate and have someone else do the work to fix it up and/or manage the property for me, while I still collect the majority of the profits and rental income seemed attractive to me.

I got started with wholesaling trying to set up a system that would allow me to “flip” real estate without actually owning it for more than 1 hour. Wholesaling is where you find a motivated seller, get the property under contract, and have a legal clause that allows you to sell your contract to another investor buyer for an assignment option fee.

But I failed quickly trying to set this business model up and it wasn’t a very good method for earning passive income.

Instead, I bought a rental property in a partnership deal at age 20, allowing me to quickly grow my net worth from the profits of the fixer upper as well as the rental income collected over the span of owning that first deal.

Acquiring 3 more units by age 22 in addition to selling the first rental property 4X the price paid for the property, helped add to my net worth.

As cash grew and debt was $0, my strategy shifted to buying cheap rental properties that combined together as a portfolio, would generate enough passive income to cover my cost of living if I decided to stop working 9-5.

In addition to trying to build wealth through real estate investing, I also used spare time in college to study online business and other methods for earning passive income. This led me to learn from millionaires who openly shared their advice and thoughts on growing your income through different mediums like their blog, their social media channels or their YouTube channel.

Multiple Streams of Income Nick Foy

I started my first online income stream by writing an eBook on golf from my experiences getting my golf game to par scores in high school. The eBook went up for sale on Amazon’s book store marketplace; Kindle Publishing. Amazon sent me free traffic to my book from people searching for golf books to read, and thus I started seeing sales each month off that one eBook without spending money on advertising or paid traffic.

Next I started a golf blog, sharing all the golf tips and drills that would help aspiring golfers improve their skills. After several website redesigns and setting up web pages that interlinked to my own store page, I began selling different training guides and eBooks on my own website.

Running my own website, I had to learn how to generate my own traffic unlike those who sell on Amazon and take advantage of Amazon’s traffic.

I spent a lot of time reading blogs and taking some courses from other successful bloggers. Being around the blogger community and forums, I saw where I could bring value from the things I was learning and implementing into my golf website successfully.

This lead me to create this website AskNickFoy.com where I would answer questions beginner bloggers have about setting up websites, building social media followings, and selling things online.

I enjoy running both Ask Nick Foy and my golf website, Golf Practice Guides because it keeps me balanced, avoiding blogger burn out which can happen to beginner’s who don’t see results right away. But it also allows me to share my case studies of what’s working and what’s not working on my golf site, by writing Q&A style posts on Ask Nick Foy.

To build up passive income, I created a few training courses. The first is Profitable Blogger which teaches people how to build a blog that is set up like a business and use it to make money. The second is Profitable Pinterest Traffic which teaches website owners how to leverage free traffic from the social media / search engine platform Pinterest where millions of monthly users are searching for content in hundreds of industries, including my golf niche!

In addition to selling training guides, eBooks, and step by step video courses for beginners to follow, I also make additional income by recommending various softwares I use to run my websites. Companies like Bluehost and Themeforest allow me to be an affiliate for them and offer me a % of the sale for each customer I refer to them.

This is similar to brick and mortar businesses like movie theaters or restaurants offering reward programs for getting friends to sign up for their service, but instead it’s internet based companies.

Even Amazon has an affiliate program, paying 4% of the sale price for referring customers to them.

Here is an example of all the different ways I earn money each month, with many of them being passive income methods:

  • Fixing and flipping real estate
  • Rental income from tenants
  • Selling eCourses on my websites
  • Selling eCourses on Teachable
  • Selling eBooks on Amazon
  • Affiliate Marketing
  • YouTube Adsense (Subscribe to my channel’s: Nick Foy TV and Under 30 Wealth)
  • Website Adsense
  • Social Media Ads Others Pay Me to Post for Them
  • Stock Market Dividends

My Personal Opinion: How to Find Financial Success at a Young Age

  • Start saving money at a young age (8 to 18)
  • Start investing money at a young age (18 if you don’t have a parent helping you)
  • Time is your most valuable resource, use it wisely
  • The opportunity cost of time is very important when making decisions in life
  • Real estate investing can grow your wealth faster than the stock market by finding deals with 2-4X sale price to purchase price
  • Real estate investing gives you more control over your money than the stock market, which can plummet suddenly
  • Day trading stocks is dangerous, start with small money or paper trade
  • Starting an online business is a smart move as an entrepreneur and low cost
  • Online business can scale much faster thanks to social media
  • YouTube is an amazing platform to build community for your online business
  • Teachable is a great platform to sell courses around a passion of yours
  • Teach other people what you know for free on a blog or YouTube Channel and they’ll be grateful for your help by buying your courses, eBooks, etc. to pay you back for all the free value
  • Fear is self created. Stop negative thoughts and just go put in the work! Take action!
  • You can become wealthy young if you truly put your mind to it
  • Find other people to collab and partner with to speed up your success
  • Follow the path others have taken and find ways to improve it. Don’t reinvent the wheel.

Thanks for reading my summary story today of who is Nick Foy. Below are a few links if you want to learn from me on how to start your own online business and make some extra income passively.

Be great today,

Nick Foy, Founder

AskNickFoy.com

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