(GivenUs.com) – Passive income is one of the best ways to make your money work for you without a lot of daily effort. Once you establish an income stream, routine maintenance is all that’s needed to keep it flowing. But learning what works, and what doesn’t, isn’t always easy. We’ve done some legwork for you.
Peer-to-Peer (P2P) lending is where you offer to front cash to someone who needs it badly, perhaps for a small business, some unpaid bills, or just to survive. The borrower pays a small fee to you for the service while also paying interest on the loan. While it is considered high-risk, it can work if you manage it right. You’ll see a good residual income as you generate small loans for others.
Create an eBook
If you have killer writing skills and a solid niche of experience (say, finance or self-help), you can bank some extra cash on digital book sales. Get in on the game by creating a well-written book; then, self-publish it on Amazon. Be sure to market your book well through social media for extra attention. Top genres include mystery, sci-fi, even erotica.
Rent Out Property
This can be a good moneymaker if you have the funds to invest. Buy a fixer upper or home under market value. From there, spruce it up and make it attractive to tenants. Charge what you want and rake in dough each month. Keep in mind that you need to consider maintenance, and possible legal fees, if the tenant is uncooperative.
Teach Others How to Make Money
YouTubers share their expertise for making money and getting rich and for good reason. Look at their views… some reach up into the millions! This means they’re making big bank on the little advertisements the platform inserts. Best of all virtually anyone can try their luck at it — even you. A small investment of a camera and good lighting is worthwhile, as is good lighting and a strong ability to be creative.
Sell Stock Photos
Love photography? Have a nice camera? Web and blog owners need quality photos for their sites. Place some of your best stock photos online and ready to sell. Depending on the licenses you offer, they can borrow or purchase photos. You simply sit back and relax as the money comes in.
There are multiple ways to make money while you’re busy doing something else (just surviving the craziness of life comes to mind). All it takes is a small investment and a little bit of ingenuity to get things started. In a world of unpredictability, a passive income stream offers some hope for the future.
~Here’s to Your Success!
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