Demand for Passive Income
Now more than ever, people are finding ways to make ends meet without having to punch a clock or deal with a demanding boss. That’s because there’s been a growing demand for passive income. Passive income is income resulting from cash flow that comes in regularly for work that you did once. Cash flow is the amount of cash and cash equivalents entering and leaving a business.
If your dream is to quit your job and live on passive income and you’re ready to make it a reality, Sean Tarpenning, Property Manager from Kansas City, Missouri, in Bigger Pockets, shares 5 ways to earn passive income.
5 Ways to Earn Passive Income.
- Invest in Real Estate.
Real estate can be a great way to make money while you sleep.
However, one investor decided to buy a couple of rental properties in his early twenties, and he had a much different experience. He had a tenant who was late on his rent consistently, he had a hot water tank flood the first floor, and he even had to evict the said tenant.
Making money through real estate is called passive income, but it may not be as passive as he thought it would be.
- Affiliate marketing
If you already have a website or blog that gets steady traffic, and other product links, use affiliate marketing. Any time one of your site visitors clicks on the other product’s link and makes a purchase, you get a percentage of that. Don’t make the mistake of thinking this is 100% easy money, though. Your site needs to be pulling in plenty of traffic, and you need to be creating regular content that will drive your visitors to click on those links.
- Peer-to-peer lending
Peer-to-peer loans (P2P) have changed the lending game. Using an established lending site, investors seeking an income boost can connect with borrowers looking to circumvent the traditional bank-based loan process. The investor provides the funding, and the borrower makes monthly payments with a fixed interest rate that can earn investors anywhere from 5 to 10 percent return.
- Become a YouTuber
Got a unique talent or skill that you think others would be interested in watching? With your own channel, you can do something you love, whether it’s cooking, traveling to cities and countries, or providing tutorials on something you’re good at – all while generating some side cash from Google AdSense.
- Build Your Investment Portfolio
Very few millionaires have
achieved their wealth without the assistance of a robust investment portfolio.
Putting your money into stocks, bonds, mutual funds, and other assets can pay
off handsomely. You may want to pick stocks that pay dividends. Remember to
diversify your assets, contribute regularly, and rebalance each year. With good
decision-making, you can generate large enough returns to live comfortably – if
not right now, then at least in the near future.
A Growing Demand for Passive Income
It may be symptomatic of our times when a husband and wife each must work, sometimes two jobs, to maintain their standard of living. With effort, you can position yourself to live like others can’t.
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Harmony Property Solutions, LLC,
is here to help homeowners out of any distressed situation. As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. We offer you the simple truth about your home and how we pay cash for houses Cedar Rapids.Harmony Property Solutions, LLC,
is part of a nationwide group of thousands of investors who are helping tens of thousands of homeowners every year. We may not be the “traditional” route, but we CAN help, and we can do it quickly!Give us a call today at 319-343-6773 to let us know how we can help you.