12 Passive Income Ideas You Should Invest In Today
Sit back and watch the money roll in.
That’s exactly my goal, the ultimate feeling of success. But how do you go about making the money roll in, when you haven’t already started investing your time any money?
Here’s 12 Passive Income Ideas that should get the ball rolling, and start to make your mark on your financial future.
1. Create a Blog and Add Your Affiliate and Marketing Advertising
As you have already seen on my Resources Page, I use affiliate marketing to bring in additional income. I advertise on my main page and advertise on every page that I create a blog post for. Why you ask? Well the only way to have money coming in when I’m not active on my website, is provide a good or service that I believe will help my readers.
There are websites like Pat Flynn’s Smart Passive Income, that bring in over $100,000 a month, which would be a dream. But where do you start? I would first start by looking for a great domain name on www.GoDaddy.com followed by reading See How You Can Set Up a WordPress Blog in 15 Minutes
which is offered by Bluehost.
2. Build an IPhone Application
Sounds complicated right? Actually it’s not as bad as it sounds. Create an application, add advertisements, or make a paid application serving a purpose and reap the rewards. Here is a great website to get started on coding your first application: How To Make Iphone Apps With No programming Experience.
3. Car Washes or Laundromats Business
Sounds like a crazy idea right? Well it’s not.
You can be successful at both of these and create an almost completely passive income by owning and running one of these businesses.
4. Driving Range Business
What more would you love to do then, sit back, hit golf balls, and enjoy the beautiful weather for a living. Well thousands of people already do it while they make their passive income and never look back. So why not tap into the market and start making some money? Here is my guide to the driving range business: Creating a Passive Income with a Driving Range.
5. Be a Rental Property Owner
One of the businesses that people have been successful with for years. Have you seen all the television shows that come out with people making a great living doing what they love?
Most of these people would be broke and not be on television if it wasn’t true. They created a name for themselves and have followed through with an extremely successful business plan.
Check out my rental property guides here: Let Someone Else Pay Your Mortgage.
6. Rent Out Your Unused House
This has become one of the classic ways to make money now. Airbnb.com has now become the standard for renting out your vacation properties, or maybe even your primary residence when there is a huge event in town.
In my hometown, horses are king, and when we have a huge horse event, people start to rent out their properties for some exuberant amount of cash. You have to remember, when demand is high, you can cash in on higher rent. It’s exactly why rental companies charge higher prices in peak season months versus off season.
7. Invest in Expensive Toys and Rent them Out
Remember that photo booth you had at your wedding, that everyone had so much fun with? What about the time you needed to pressure wash your house but didn’t want to delve out $150-$200 on a pressure washer to use it one time?
People will pay you to rent equipment from you for one time uses. Capitalize on it. Invest in expensive toys like photo booths, a camera, lawn equipment, log splitters, whatever is popular in your region. Establish a contract, so if anything is ever broken by your renter, you can get your money out of your product. Take deposits, verify addresses, but overall, cover your investments, with insurance.
8. Start Investing in Dividend Paying Stocks
Remember sitting back and watching money roll in? Dividend paying stocks are just that. Invest money, get paid dividends without having to do any work.
Do some research, there are tons of investment partners you can use to invest, however I use Robinhood.com because it offers commission free trades. It is not as detailed as some of the bigger corporations, however most of the information available to make good informed decisions can be located all over the internet.
Remember the more money you invest in dividends, the greater income you can bring in, either every month, every quarter, or every year.
9. Create a YouTube Page and Start Recording
YouTube has not become the viral marketing king of the world. You can find how-tos, music videos, stupid videos, and business videos.
What is your niche however? Find one, one that you are passionate about and start creating videos designed to draw viewers in. Once you do that, capitalize on the ad share revenue program they offer. Creating website traffic is not easy, even getting just 100 people to visit your website in a day can seem impossible. But creating a great mind blowing video that captures viewers attention can be much easier. And you could also use those videos to drive traffic to that website you just created.
10. Sell an Ebook
The highly sought after, golden egg. If you are a great writer, start compiling your book and put it on paper. It does no good to anyone if it stays up in the brain of yours.
If you create a quality product and publish it, put it on amazon, and start marketing via guest blog posts, creating your own website giving tips and hits and draw people in to purchase your book. You can even add affiliate links in the book which people can click and make even more money.
So why don’t more people do this? Because they don’t want to put in the time and effort. It isn’t an easy thing, not everyone is a great writer, if you aren’t, maybe you can allow a ghost writer to help get all your thoughts onto paper.
11. Peer 2 Peer Lending
This is new in the last few years and is just catching on. What is it? You are actually providing loans to everyday people like you and me. Why would you do that? Because people pay you back in interest.
Would I drop $10,000 on one person? No way! When I invest I spread my money around over 50-100 investments at smaller increments, the same way you would if you are investing in stocks. It lowers your risk. But do your research on who you are providing a loan to, check their feedback, check any past loans they have asked for a repaid.
But while you invest, sit back and watch your interest income roll in.
12. License your Photographs
Take great pictures? Have a great camera?
You don’t have to be a professional photographer, you just have to be able to capture the moment. Start compiling your images and create a portfolio.
That’s just a short list of my suggestions, but check back soon for more, or sign up for our newsletter.