There’s been a growing demand for passive income. Passive income is income resulting from cash flow that comes in regularly for work that you did once. Cash flow is the amount of cash and cash equivalents entering and leaving a business.
Now more than ever, people are finding ways to make ends meet without having to punch a clock or deal with a demanding boss. If this is your dream and you’re ready to make it a reality, Sean Tarpenning, Property Manager from Kansas City, Missouri, in Bigger Pockets, shares 5 ways to earn passive income.
Real estate can be a great way to make money while you sleep.
However, one investor decided to buy a couple of rental properties in his early twenties, and he had a much different experience. He had a tenant who was late on his rent consistently, he had a hot water tank flood the first floor, and he even had to evict said tenant.
Making money through real estate is called passive income, but it may not be as passive as he thought it would be.
If you already have a website or blog that gets steady traffic, and other product links, use affiliate marketing. Any time one of your site visitors clicks on the other product’s link and makes a purchase, you get a percentage of that. Don’t make the mistake of thinking this is 100% easy money, though. Your site needs to be pulling in plenty of traffic, and you need to be creating regular content that will drive your visitors to click on those links.
Peer-to-peer loans (P2P) have changed the lending game. Using an established lending site, investors seeking an income boost can connect with borrowers looking to circumvent the traditional bank-based loan process. The investor provides the funding, and the borrower makes monthly payments with a fixed interest rate that can earn investors anywhere from 5 to 10 percent return.
Got a unique talent or skill that you think others would be interested in watching? With your own channel, you can do something you love, whether it’s cooking, traveling to cities and countries, or providing tutorials on something you’re good at – all while generating some side cash from Google AdSense.
Very few millionaires have achieved their wealth without the assistance of a robust investment portfolio. Putting your money into stocks, bonds, mutual funds, and other assets can pay off handsomely. You may want to pick stocks that pay dividends. Remember to diversify your assets, contribute regularly, and rebalance each year. With good decision-making, you can generate large enough returns to live comfortably – if not right now, then at least in the near future.
It may be symptomatic of our times when a husband and wife each must each work, sometimes two jobs, to maintain their standard of living. With effort, you can position yourself to live like others can’t.
We buy as-is. An investor will estimate the repairs needed to restore your property, arrive at an offer, and will purchase the property as-is.
When we buy houses fast, there are no fees! We don’t charge you a real estate commission, and we may take care of any other nagging financial problems such as back taxes, code violations, or past due water and sewer bills.
Paige also helps to educate people on the importance of Passive Income, deal evaluation, money management, how to wisely interact with money, and what the heck does a profit and loss and balance sheet actually look like?