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My plan as of present, albeit very basic, is this...
1-Start the first site, continously adding targeted quality content, and invest all profits back into the site to make it more professional looking. Perhaps hire someone to do an overhaul and make it look all purdy and user friendly.
2-Do this twice more with another couple subjects I know quite a bit about.
3-Once I've saved up $10,000 from pure adsense revenue, it's time to buy an already established site and polish it up. Continue to do this with other sites, buying them and improving them, rather than starting from scatch.
4-Tweak, test, rinse-recycle-repeat.
I would also recommend reading up on factors relating to the status of a domain / website - penalties, sandbox, bad neighbourhoods, trademark issues, etc - just so you're well informed when it comes to the purchase.
Diversify. It sounds like you'll be relying too much on Adsense. Cater for the possibility that Adsense may one day cease to exist or, less unlikely, your account may be closed in a cleanup, consolidation, or reorganisation of the Adsense program.
Excellent advice, also think about affiliate programs, AdSense like programs and advertisers. Iíve been able to over the last few years increase my sites gross income (with affiliate programs and advertisers) and at the same time decrease its dependence on AdSense.
So yes, it's not just possible, it's probable, but it all depends on content.
As for diversifying, that is something I already had in mind, I was just laying out my plan for adsense. I have my 9-5 job, invest in commodities, will soon be selling items on ebay, and now also doing adsense. When doing adsense I'll be trying out other ad methods as well. Either way, I appreciate the suggestion. :)
10,000...that seems, to me, entirely doable. I was talking about having made 10,000 total over a period of time. Even so, I see it as within my reach to get 10k a month down the line. The way I see it, the harder you THINK it is, the harder it actually will be. It's already a challenging path to take, no need to make it harder with negative thinking.
I used to literally spend 4-14 hours a day playing online roleplaying games, hah. Imagine if I spent that time working on publishing a website with adsense! Well, that's what I'll be doing now.
I do have another question that popped in my head last night. Would it be better to put all relevant info in 1 site, or in several sites?
For example, say I made a site about shorts, how they are made, what their uses are, etc. Would it be better to also post similar information bout pants (how they're made, their uses, etc) on the same site since shorts and pants are so similar (yet used for different reasons) or should I make two completely different sites to bring more focus to each?
Second, if the content is themed the same, put it all on 1 site, with highly targetted pages for each category. Meaning, don't mix the pants and the shorts into the same page, have pages dedicated to pants, and pages dedicated to shorts. If you start wanting to talk about airplanes, build a new site, it's not on theme and would do better on a themed site for itself.