I'm an internet marketer myself (well, full time uni student and part time internet marketer) so hopefully I can shed some light on the subject.
First of all, there are quite a few ways to make a decent income online. The people on ACA were using adsense (as someone already mentioned). Yes, some people are making 6-7 figure sums from adsense. But the harsh reality is, adsense is quite hard to make a decent income from. To make anything worth while, you have to know how to dominate the search engines with your websites in order to gain the organic traffic. This requires a deep understanding of SEO (Search engine optimisation). Even with huge amounts of traffic, you will probably only make miniscule amounts.
To put it into perspective, if you have 100 visitors to your website with a rule of thumb CTR of 1%, you are likely to make around 1-10cents. Some clicks are higher, but it all depends on your niche and how much the advertisers are willing to pay in that niche.
The best method (in my opinion) is affiliate marketing. I discovered affiliate marketing last February and I'm kicking myself I didn't find it earlier! Anyway after a couple of months of research, I knew this was where it was at. I actually joined a subscription website (virtually an affiliate marketing college!) aswell (its about $40/month) which is when the lightbulb switched on for me. It all came together, and with a little help from the experienced members I was on my way Still a member there today!
Theres a couple of ways to to affiliate marketing:
1. The free method – Mainly involves writing articles and creating free websites/landing pages to sell products. Need to know a bit of SEO for this method though.
2. The paid method – Using PPC (pay-per-click) such as Google Adwords to drive traffic to your website where you want to sell products to your customers. However if you don't know what you're doing in this arena, it's a fast way to drain your wallet!
I started off with article marketing (as most newbies do). I think I wrote 10 or 12 articles within a couple of weeks and made a couple of thousand dollars which was great! I used this cash to dabble in PPC. I lost $200 to start with because I was a bit lost haha. But, I did more research and got the experts to help me out. A month later, I started a new campaign on google adwords. I will never forget the next day when I woke up and checked my account. First, I checked to see how much I spent on ads…$22.00. Then I checked my affiliate account to see how many sales….5 sales for almost $300! Now that's what I call a decent ROI!
Long story short, I quit my part time job within a month to free up some more time. 3 months later I remember telling my economics lecturer how much I was making….he told me that it was more than what he was making! haha!
Okay, I will stop babbling now. I don't want to sound too cocky (err…too late for that I guess). Anyway, the moral of the story is, there's plenty of opportunity to make a living on the internet. It all comes down to your skills/preferences and your willingness to work at it.
mt87, wow you are doing great for your age aswell! Thanks for your advice. Can you really just pretend that you are living in the house for 6 months even if you aren’t? And I thought the FHOG was only $6000 or there abouts (Im in NSW)?
Cabo Wabo, thanks for the explanation. You said “If you have less than 10% deposit, they won’t deal with you at all”. learn&share said you could get away with 5%. DOes anyone else know about that?
Schwing, of course I need to learn a lot! That is why I came into here for advice. And yes I did know what a FHOG was but debbrad said there was a FHOG “scheme” and wasnt sure what he/she was talking about.
As I said earlier Schwing, I would rather play around with autosurfs but i will put some cash away on a teerm deposit even though 6% pa isnt much at all. My dad told me all about the high interest rates but unfortunately he was paying off his home loan at the time (this was about 20-25 years ago) I think he had to pay around 17% at that time. He told me that he was paying a lot off the loan in the first few months and when he got a statement on how much he owed, it was even more than the original loan lol.
PS: ive got $11,000 to spend now But that extra $1k will have to pay for car expenses
lear&share, $200k just seems a little too much. I would rather have something for around $100k (if there is anything out there these days for that much) obviously so it is quicker and easier to pay off. I thought the absolute minimum deposit would be 10%? Thanks for your suggestion!
nazzysmith, I dont have much invested, only about $2000 at the moment in 3 different programs. They are called “autosurfs”. My favourite is 12Dailypro.com, check it out and see why I consider the income inconsistant.
Cabo Wabo, you make me laugh[biggrin] So what is mortgage insurance? And would would I have to pay it? Ive never heard of it before. It would be great if my dad could garuntee the loan! but he doesnt really have much money but thats a great idea.
debbrad, I dont really want to invest into term deposits because the interest is pretty small. I think I might play around with some of it in autosurfs. So what is the FHOG scheme? It sounds intersting….
you are doing very well for a 16 year old. How much you need depends on the price of the property you want to buy usually around 20% deposit. Have you talked to any mortgage brokers? It may be worth scheduling a meeting with one and having a chat about what you need and what you are able to borrow. I’t wouldn’t cost you anything to talk with them.
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees. [email protected]
phone 0412 437 582
Hi Dr. X,
Thanks for your reply. Do I really only need a 20% deposit? Say I want an IP for $100k, I only need $20k? It doesnt seem right, but I hope it is!
No, I havent talked to a mortgage broker yet. As I said, I am just starting off and I have no idea lol. Im not sure why I need a mortgage broker, what do they tell you? Its all confusing for me at the moment, I need to do a lot of research!
So do you think I could get an IP for as little as $80k or even less? That would be great. If I could get one that cheap, how much rent do you think I could collect per week or month?
I was a member of pipsinc about 1.5 years ago. It was a fantastic program back then, I made a huge profit. I initially invested $1000 and was paid about $10,000. But at the start of this year, payouts were being delayed. Now, it is considered a scam.
There is other ways to earn big profits online though. My favourites are Studio Traffic and Paid Response. I earn about $1500/month at Studio Traffic and Ive been paid since late last year. Paid Response is newish (about 5 months old) and I have faith in it. I only make $330/month there at the moment but compounding and investing more should get the earnings up.
Anyway, Im only 16 at the moment and I am trying to save up to buy my first investment property before I am 18. I hope I make it!