- CJ: $450
This doesn’t even show the economic collapse since all this was income backlogged months ago. Although weirdly it looks like post-global depression isn’t that much different. Still, this is a lot less than I was hoping to be making.
Plans to increase income
I’m only putting in the minimum effort on most of my websites since their traffic is extremely depressed as long as quarantines are in effect. I just need to keep them up so google will send people there when people start traveling again.
I’ve been working on a new niche. Salvage Car auctions. I see an opportunity here. With the economic depression worsening and people practicing social distancing there is one major loser that few are talking about: The automobile. People who bought expensive new vehicles and now have no job will be unable to make their payments. People will also have less of a need for a car since few are going in to work. Families that used to need a car for every person now only need one for their weekly grocery run. Airport parking lots are filled with rental cars with no where to go.
Unlike mortgages, which have protections against people who can’t pay and likely won’t crash the real estate market for another year or so, cars do not have protection. People who can’t pay will have their cars repossessed. People will try to get rid of their unneeded cars quickly for extra cash for food. Rental agencies will shed their inventory of cars since the travel industry might not recover for years. I predict by the end of this year there will be a flood of used cars on the market that few will want to buy driving down prices to unprecedented lows.
In comes salvage auctions, where you can already get a 75% discount compared to retail rates. But with significant more risk. What I see a need for is a website that can track sales prices for vehicles. If you could see what cars sold for before, or if they didn’t sell, or what the reserve is, then this would all be great information in finding great deals in the coming carpocalypse.
Not much more here, other than I need to keep holding on, which shouldn’t be difficult at all. Even though my website income is getting hit hard, it doesn’t matter. I have so much free cash and more coming in from other sources that I’ll be just fine even if my website income dropped to 0. I see this as a hobby that keeps me busy on things I am interested in, and if I make money from it, great. Unfortunately, everyone else in the economy isn’t in the same position.