Let’s get this straight these passive income ideas are just that, passive income ideas. No I haven’t done all these ideas and yes some of these ideas are just side hustles and some are easily turned in full on businesses.
This is a 3 part series of 30 Passive income ideas. Listed below are the first 10
- Rent out A Room
Now this not my favorite passive income but it’s a simple way to create passive income. I personally would only rent a room to person that I’ve done A thorough background check on. Or I would buy a home to make into a pad split home. If you want to know more about that then check the link here.
Padsplit is awesome platform to help you start a passive income business with by renting rooms in your home.
2. Affiliate Marketing
This passive income right here can absolutely change your life financially. If you don’t know what affiliate marketing is it’s where you sign up to an offer as an affiliate then you make videos and posts about that product and direct your following to check out the product you can do a lot of different things with affiliate marketing. It’s all up to you. Learn more about affiliate marketing here
3. Dividend Investing
Another favorite passive income of mine. This is one of the simplest ways to build passive income on autopilot. You literally can buy stock that pays a dividend aka a pay out of money every 3 months. This will be a certain percentage of what the stock is worth. It’s called a Dividend yield.
For example, if a company has a $20 share price and pays a dividend of $1 per year, its dividend yield would be 5%.You can buy dividend paying stocks from any stock purchasing platform. I personally use Webull and Stashapp.
4. Peer To Peer Lending
Peer to peer lending is a good one because you don’t have to sell anyone on the product because its money. Who doesn’t like money right? and no I’m not talking about sending people money through Cash app or Venmo and hoping they pay back with interest.
Nah nothing like that.
I’m talking about signing up with a platform like Prosper or Lending club and investing at least $25 and you will get passive income from that investment. Now the actual percentage of that return on investment has to be figured out through the platform you choose.
5. Sell An Online Course
Are you knowledgeable in a certain niche. Like are a certified chef or hair dresser? Maybe you know how to fix cars or maybe you’re a Spanish language teacher. Either way whatever you’re really good at you can use that skill and create a online course. Their a bunch of different platforms out there you can use to sell your course on.
6. Sell An E-book
E-books are still selling believe it or not but they are.
You can easily create one online or you can pay someone through.a site like Upwork or Fiverr to do the heavy lifting for you. Then sell it through Instagram, Facebook, TikTok and Youtube.
7. Start A Youtube Channel
Now obviously this is my favorite passive income of all. I’m a big advocate for starting a YouTube channel and as we know YouTube has its ups and downs. It’s still one of the top ways to create passive income.
The reason being you can actually create a video on YouTube and get multiple streams of income. One video can be a brand deal where they pay you for that video and it could get enough traffic to pay through Google Adsense because of the ads on the video and you can put affiliate products in the description box. Your viewers can click below and sign up to one of those offers. There are also other ways to build passive income through Youtube like memberships to your channel, Super fan payments, and whole bunch more. I’ll have a video about the 10 streams of income through YouTube coming soon.
8. Drop-Shipping Store
This is another great way to make money passively from doing work and getting paid for it while you sleep.
Drop-shipping is a form of retail business where the seller accepts customer orders without keeping stock on hand. Instead, in a form of supply chain management, the seller transfers the orders and their shipment details either to the manufacturer, a wholesaler, another retailer, or a fulfillment house, which then ships the goods directly to the customer.
The retailer is responsible for marketing and selling a product, but has little or no control over product quality, storage, inventory management, or shipping. By doing this, it eliminates the costs of maintaining warehouses or even a storefront purchasing and storing inventory, and employing necessary staff for such functions.
As in any other form of retail, the seller makes profit on the difference between an item’s wholesale and retail price, less any pertinent selling, merchant, or shipping fees accruing against them.
Thats a full definition of drop-shipping from Wikipedia.
In lame term you find a product that is sold at wholesale price you sell it for retail price online on a platform like Shopify Etc and your profit is the difference in price of the product minus shipping.
9. Buy A Profitable App
This is different but I love different. I’ve never purchased a profitable app and just made Money off it passively but it definitely does seem interesting. You can buy apps for sale on sites like Flippa.com and smergers.com
10. Buy A Profitable Website
This is around the same as buying a profitable app. You can go on Flippa.com and check this out.
With all this being said do your research.I’m going to say this again do your research before you spend your money or start a new venture of any kind.
Its the man the myth
The Wealthbuilder himself
DeVaughn Put in Work Burke
Signing off for
The Ultimate List of 30 passive income ideas part 1
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