In all things money, there are no two better-sounding phrases than “your cheque is ready” and “passive income”. As it stands, passive income is just a way of making money regularly without having to invest too much time into the business or to physically dictate what is going on. The good thing is that in 2018 and on, there are some pretty rewarding channels through which you can start making that money without stopping what you are already doing.
Start generating rental income from your property
Rental income is one of the best passive income opportunities to keep money flowing into your account regularly. You should consider owning rental property especially if you are almost reaching the retirement age. What makes the strategy so effective? With having properties to rent, you are able to spread out the income streams that you have and still keep the money flowing even if you still want to focus on your day jobs or businesses. Most of the money that you will reinvest back into your property goes to property taxes and regular service. As much as some people still insist that this route is not “fully passive”, you can always count on using a property manager who will do all the rent collection and deal with the tenants directly so that you do not have to do all the running around.
Other than building houses yourself, you may consider taking some older property that is in a suitable and marketable location and do major renovations to upgrade the value of the property. You can have an agent who can look for undervalued property and give you referrals. There are many companies in most neighborhoods that are willing to give you that service at a bargain. Are you about to write it off as an idea that may be too expensive to start at first? No! You could rent out part of the space in your house to visitors through a service like Airbnb that lets traveller book short stays. The good thing is that it is available in over 30,000 cities and your city could be one of them.
Managed funds or trust funds
Fund managers can always put your capital to better use than you may be sure you can do on your own. That is because fund managers have the actual training to identify the best portfolio to hold over a given period. In hindsight, unit trust funds in that case own a pool of investments in different stocks, bonds and various securities which grow in overall value when you invest. What the investor gets is as such a portion of that portfolio and this can give a stable growth if selected carefully. Different fund managers promise different kickbacks for you depending on how well they do.
Some benefits over other investments are that asset funds are well regulated and the professionals who run them have to be registered and trained. Unlike buying and selling land or other related asset investments, with fund management services you do not need a large amount of money to start off.
Ebooks writing and selling
Ebooks are not a preserve of the super-smart. Anyone can write an ebook of any length and it is the content that matters. People turn to eBooks as a quick and reliable way to get information on simple topics and still keep them for future reference without worrying about the head ache of finding where to keep them like it was with physical books. You can surely bet that ebooks are marketable and are likely to stay in demand for another long while. Consider writing your own eBooks in order to make money long after you have written them.
Start by picking up a few areas of interest. There is always one that you are more interested in and more knowledgeable about. You would be better off combining two or more of these hobbies if there is a relationship. Establishing your own niche is easier if you combine two of your gifts. This makes people see something different when they read your ebooks as they will not think that it is just another ebook like what they have already been reading. Ebooks do not demand a lot of your own investment upfront in order for you to start creating passive income online. At the same time, there are services that can help to review your first copy and with some more research, they will add some information and editing without claiming the rights to your book.
Create Passive income through Vlogging
Other than the good old blogging, you can also have a vlogging career. A vlog is simply a blog through which most of the content is conveyed through video recordings and podcast. They may be live or edited and uploaded for the best effect. The trend is gaining traction very fast and it has rewarded many hobby vloggers. The good thing is that you can get a lot of money flowing in through endorsements, clicks income and a lot of freebies. For example, some vloggers earn money by simply recording their day to day lives because every time they eat at a certain place and give it a good review, the proprietors of the hotel or restaurant would give them a cheque as a thank you gift.
A travel vlogger can make quick bucks by just spending a weekend at a hotel and getting money to mention the venue. The sweet thing about Vlogging is that you run most of the show and have the freedom to talk about almost anything literally. You could be on about pets, grooming, sports, politics, finance or just talking about new trendy products that you came across. Whichever way you go about it, getting authority through consistent uploading and keeping your fans coming back will sooner or later attract the big brands. Affiliate income from recommending some brands will ultimately rake in more money than serving adverts on your vlogging page. You could however look at some of the popular vloggers around the internet and find out some common patterns through which they present their content and how often they show or mention some products.
Consider the forex markets to make passive income online
Online forex trading is one of the most underrated passive income sources you can come across. Trading currencies online can be very rewarding if done properly and given the right attention. How is it passive if you still have to get your chart work, news following and money management in order? A lot of people fear that they do not have the right knowledge to trade forex at the moment and that it may be too complex to understand at first, but there are many new trading tools and services that have come up lately to make it work without investing too much of your mental and physical attention.
There are services that provide signals and others that can simply let you deposit money and guarantee a certain profit level over an agreed period. It does not require investors to understand chart reading or any background in financial trading. Investors simply register an account and choose the account package they want. Profits are then wired back to the investor once the maturity of the package is here.