As promised before, I am here today with bag filled of solid passive income options you can practice.
You can make thousands of dollars while you sleep. It’s a great way to boost your income without having to work for it.
I started diversifying my income to make it more sustainable and I’m not ashamed to admit that I was not expecting to live a good life. So, if you are looking for ways to improve your financial freedom and maybe even quit your job, then these passive income opportunities are for you!
The idea of passive income is one that has always fascinated me. I mean who doesn’t love the thought of making hundreds or even thousands while you sleep.
Most jobs require you to go to work everyday and exchange your time for money. But because of this arrangement, most people live their lives being slaves to their jobs (myself included). I am currently trying to change this. When I picture a happy life, I picture good health, being able to spend time with my family, going to the beach whenever I feel like it, and being stress free, to name a few.
Trust me, when you find your reason for pursuing passive income ideas, you will find your very own grit, determination and passion to make it worth. Passive income success is just around the corner, my friend!
Starting a blog
Starting a blog has become a two minute work with the surprising changes on the Internet. It has become a finger tips distance. With little to no knowledge you can become a blogger. there are tremendous number of platforms where you can design your own website like a pro and publish right away with lesser cost per year.
Although you can start your own blog within few minutes, its not that easy to get traffic to your site on a daily basis. It takes years to build a solid on going crowd and it requires continuous work, marketing and maintenance. However, if you are determined to be a good blogger, you will definitely achieve your target as there are as many as billions of crowd in the internet who refers to blogs and reads through internet articles. There is a small percentage that you would fail in doing blogs.
However, I have a complete article on starting your own blog with step by step guide below:
Starting a Vlog channel in YouTube
Yes, making videos can turn you into a millionaire, just ask CaseyNeistat and Food Ranger who has more than millions of subscribers on YouTube. Anway, so here’s what, make some videos, edit ’em and upload ’em to YouTube.
Put some ads and voila! Just kidding. I’m pretty sure it’s not as easy as that but it is a pretty neat way to create a passive income source!
Invest in Dividend Stock
This is one best way of passive income. But wait!!! Isn’t investing is an Active Income??? Yes it is, but, not the dividend stocks. Dividend stokes are the type of stocks which pays a higher dividend compared to others in the market. When investing, you will need to do your own research and chose the right stock. However, you will need to invest in a significant portion of money in your stock portfolio.
My advice!!!! Doing your own research and obtaining proper advice from experts is the best way before investing in stocks!
Check out Ally Invest to get started.
Crown funded Real Estate Investments
Crowdfunded real estate is a great alternative to buying a home. It gives you the freedom to invest in real estate without the high cost. Of course purchasing real estate is more costly and cannot afford as yet! But crowd funded real estates is the best way to get in to real estate business.
Crowd funded simply means that the collectively funded investments are pooled and invested in real estate business. the returns are then shared among the fund holders based on their proportion of investment.
You can get into real estate products through various companies such as Fundrise, Rich Uncles, and Realty Mogul. These companies provide various types of real estate products for very low prices.
Investments in vending machines
You don’t need to be a rocket scientist to start making money from vending machines. Just pick the right place and time to start.
You also need to get the necessary permits from the government to place your vending machine in public places. There are also certain regulations that you need to follow to ensure that your machine is safe and secure.
An ATM is a type of vending machine that uses the same technology as a vending machine. It lets users withdraw and deposit money.
Development of apps and running ads on them
Developing a smartphone app is not as hard as it sounds. There are tools out there that make the process relatively easy. You can make money from ads through your app. Just start by creating an ad campaign and see how it works.
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