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7 passive income ideas that don’t require you to do a lot of “active” work to continue making money. DISCLAIMER! This video is not an individual investment recommendation.
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DISCLAIMER! I am not encouraging anyone to start investing. In my videos, I share my experience and knowledge that do not guarantee investment success.
(1) YOUTUBE VIDEOS
YouTube is the passive income stream that just keeps on giving. From sponsored videos to ad revenue, you’ll find that you can make recurring income from your YouTube channel.
The secret to creating a successful YouTube channel is creating content on a consistent schedule for a long time. That’s it. If you stick with it for the long haul, eventually you’ll start reaping the passive income rewards.
(2) RENTAL INCOME
A cash flowing rental property is a fantastic way to bring in a monthly income. To make this truly passive you can outsource the running of the properties to a management company.
However, the internet has made investing in rental properties easier than ever before. There are a lot of ways you can invest in rental properties depending on what your goals and interests are. You can be a limited partner in large residential or commercial properties, or you can buy homes and be a landlord – all online!
(3) ONLINE COURSE
Selling online courses is one of the best passive income ideas of 2020.
Perhaps, you have a certain knowledge and excelled skill level with a particular topic. You can use these skills that you have earned during a very long career to make you money.
You can create an online course to teach anything from Algebra to guitar. The best part about this passive income idea is that once you do the initial work of setting up your course, you will continue to get paid when people take it.
(4) RENT OUT STORAGE SPACE
Did you know one in 11 Americans pays for extra storage space?
The self-storage industry is booming and has been for years. As passive income ideas go, this business model is a pretty simple one.
While you could buy or build a full-scale commercial self-storage complex, that’s not the only option. Some people rent out space in their garage!
It’s easy to turn your basement, garage, spare office room, even closet, into passive income and a great side hustle earning up to several hundred dollars a month. In New York City, they estimate a spare basement rental to generate almost $10,000 per year!
(5) SAVINGS ACCOUNTS
It doesn’t get any more passive than putting your money in a savings account at the bank or one of the many online banks offering high yields. Sadly, the banks brick and mortar banks that most people use don’t value them and barely pay any money in interest. The big banks like Wells Fargo, Chase, Bank of America, and the others essentially pay around 0.08% interest. The best high-interest banks are online only so you won’t need to mess with going into the bank to get started. The best part is that as of this writing, they pay over 2% interest per year. That means you’ll be making $4,000 per year off of your couple hundred thousand dollars instead of $200 like you would with a megabank.
In the video, you’ll learn about two more passive income ideas and find out more details about those listed above.
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0:00 What passive income means
0:48 One of the most popular passive income ideas
2:15 A different look at rental income
3:15 Start sharing your knowledge and expertise
4:14 About The Great Courses Plus
5:23 This passive income ideas is booming nowadays
6:50 Two things you might not know about savings accounts
8:00 Use your car to earn some passive money
8:35 My own idea of having a passive income
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Passive Business Income Ideas, 7 Passive Income Ideas (that earn $1,000+ per month).
The Most Intelligent 5 Ways To Make Income
Various individuals have actually started blog sites for social and business reasons. But the bright side, there is an alternative to earning cash than through linear earnings. However nothing beats passive income.
7 Passive Income Ideas (that earn $1,000+ per month), Get trending full videos relevant with Passive Business Income Ideas.
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However, to make success out of it, you will need to write a lot of posts. There are no consumers that care that you are gone. In conclusion, this is the best time ever to be on this earth.
Does the thought of making cash while you sleep keep you up in the evening or does it get your heart racing so quickly you think it might simply pop right out of your chest. Earning passive income online can do precisely this and it’s one approach of making cash online.
Can you see a typical theme here? Most of the investments above supply money flow on a constant basis. When it comes to money flow, I am a fanatic. In my mind money flow equates to liberty. Here are a few ideas to assist you develop your own passive income sources if you don’t like the things I am doing.
You can choose to provide yourself a pay raise, simply by developing more passive income streams. No more kissing your manager’s you understand what simply to get a few additional meager dollars.
Alternatively though, you can’t work a task and achieve monetary liberty; Even if you’re fortunate adequate to work for the next 25 years. According Robert Kiyosaki those days, for the large bulk, are gone forever. However there are new, innovative, passive income ideas for making cash the way that the rich do.
Think about writing an eBook or informative videos. These are easy to create supplying you have the ideas to write it. “How to” ebooks always do really well. You can then go on to offer these either through your own website or a publishing site like Amazon. You could even get other individuals to offer you informative items as affiliates, increasing your sales and decreasing your work.
To begin with, you write as many posts that you possibly can about your niche. You provide a bit of beneficial info, however not excessive. You simply need to provide adequate info to influence the reader to click the link to your website. This is a successful situation in which you drive more traffic to your website.
Whether you opt for a conventional publisher or you self-publish, its as much as you to switch from your writer’s cap to your business cap. You are going to have to promote and offer your book, which means individuals have to understand that you composed a book in the very first location and they need to understand where they can go to acquire that book. The best choice for you to do is to have a site constructed that either can take orders direct, or send your consumers to sites like Amazon.com to acquire your book. Aggressively promote your book by writing posts, letters to editors, getting on the phone, and marketing your book. Bear in mind that it is a financial investment and it depends on you to capitalize that investment.
Setting it up is not really easy, however if you do it right, it can indeed deserve it. ClickBank is a fantastic location to start and locate a decent item to promote. Getting paid to work with specific customers is terrific.
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