My Favorite 7 Passive Income Ideas

Passive income is nice- But it's not as easy as it sounds.

As awesome as it is to be able to make money in your sleep. It usually takes A long time to set up or A large up front cost. But once they you get them going you could really make the jump from pay check to pay check to being wealthy.

But how do you get started?

1. Anything  with advertisements 
This is one of my favorites because it requires little to no money to start. If you have a large following you can certainly gain a ton of money from running ads. This is most popular on Youtube channels, Blogs and websites.

Even though it's free to start up- success is not guaranteed. It takes hard work and dedication to get good returns. It takes months- sometimes years to get a decent paycheck.

2. Dividends 
Probably the most popular way to create passive income is through dividends. This takes a big initial investment but depending on how much you invest- Could be the difference between a supplemental income and living off of dividends.

For example, $10,000 in Ford stock would get you around $650 a year in dividends. Which is over $50 a month.

3. Affiliate marketing 
Similar to number one- this does not require much of an up front cost.. But instead a big following of people. This is simple.. A company pays you to promote their products (could be on Instagram, Facebook, Youtube) and you receive A commission on items sold through your link.

4. Peer to peer lending

Websites like lending club allow you to deposit money (usually around $100) and spread the deposit across multiple potential borrowers. You receive your money back on top of an interest rate the borrower pays. Depending on your risk tolerance you can receive anywhere from a 3%-12% return.

You don't have to worry about the ups and downs of the stock market.

5. Rental properties
This sounds simple- But there are a lot of factors (and money) at going into buying a rental property. You have to account for liabilities and the chance that people simply don't want to move into your property.

However- if you find a good area this could be good enough to set you up for life.

For example..

You buy a 3 family house for $500,000

You take out a 30 year mortgage, Your monthly payment is 3000/month.

You rent out all three apartments for $1,600 each.

That's $4,800 a month in gross income.
$1,800 in net income.

6. ATM business
Very simple idea. You buy ATM'S .. you contact local stores and set up your atm's in their business'. You collect the surcharge whenever someone uses the ATM.

7. Sell an Ebook or Online course

Creative? write a book or make an online course.

Being published has never been so easy. With websites like Amazon and Teachable you can create A course or book and forget about it.. Every time that book or course sells you get paid.

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