In this video, I’m going to rate seven passive income ideas based on, firstly, how hard it into gets started and, secondly, how hard it is to maintain and make money from it so whether you’re working a 95 and want some passive income on the side or you’re. Looking to start a side, hustle that are, two main ways you can do this: the first is by buying physical property and making money through rental income. For this, the barriers to entry, a requite High.
You need money for a down payment, you need a good credit score, and then you need to Source the property and find a good tenant so in terms of getting started. I’D give this a three out of five and in terms of Maintenance, you can choose how passive you want this to be so, if you want, to manage your properties yourself, it will cost you your time or if you want to hire someone or, give it to a property manager to handle It will cost you money, and so, if that sounds like a lot of work, the second way you can make money through rental income without actually needing a depositor managing the property, is through investing in a real estate investment trust.
A Reit is essentially company that invests in different types of properties. It could be hotels, warehouses, shopping centers and then it rents those properties outland from the rental income. It receives it’s legally required to pay 90 of that income to its shareholders in the form of dividends. So, in terms of getting started and investing in a read. I give this one. It’s far easier to do and you could buy publicly traded REITs through a brokerage. Account like, like you, would any other stock and in terms of Maintenance and how much you can make I’d give this a two, because you do not have the hassle, of direct ownership, but you do need to invest a fair amount of money to make a decent return.
Because you’re not relying on any leverage so for example Segro, which is a reach that invests in property around. Europe is offering a 3.4 return so to beagle to make the equivalent of around 140 a month you would need to invest fifty thousand dollars of your own money, but because these REITs generally have long leases where the Brew chip tenants, the rental income, you can make – is relatively more reliable in Various market conditions, number two, is being a Creator printer. This is being a content creator, but I’ve called it.
Create Prinarto emphasize that to make this a passive income stream, you need to think about content. Creations, an entrepreneur – and this is a middle ground that – isn’t really tapped into so on one side: youkan love creating content, but if you don’t think of it as a business, it’s just a hobby, whereas if you solely focus on the business side of it you’re going to burn out before Even making it into a passive income Stream, So you want taotie both of these together for a platform like YouTube in terms of getting started. Anyone could do it.
You literally need a phone and an internet connection. So, I’m going to give this a one to get started the harder part and what makes this into a passive income stream is actually how long you can keep this up for without seeing the returns. And this is where the entrepreneurial side comes. In setting up the process, hiring Outsourcing, so that you can concentrate on producing quality content for as long as possible. It took 10 months of making no money through YouTube for me to finally be eligible for the partnership program and now make hundreds of the day from YouTube AdSense and. Most of that is passive because it’s coming through my older videos, another example, is Ali who.
Last year, made 405 million from YouTube. And he spends a couple of hours a week on it.
He alohas a YouTube course on how he’s built this up. And the systems he’s put around it are link it below if. You are considering it and want to check it out, but the hardest part of this income stream is putting in the time and staying consistent, so I’mgoing to give this a four in terms of Maintenance but.
If you can get through that initial phase, youkan make a lot of money through YouTube and thesis one of the best passive income streams in my opinion number three, an online course I’m a bifan of this one, because, firstly, as a consumer it gives, you so much access to Information that you wouldn’t otherwise have and from a passive income point of view, it’s a great place to make scalable income an example of someone who has done really well from this is cat Norton, who started a ticktock profile around tricks and tips of using Excel those videos blew up and evolved Into her teaching others about Excel through online courses and inhere first year from doing this full time she made one million dollars in sales from air and now one good day.
She makes over six figures a day, from her courses which are completely passive. She made it once and now she sells it again and against. How hard is this to get started? The real thing or the real difficulty here is to identify what value you can bring and what you can teach to other people that they’re willing to pay for once you’ve got that bit. Figured out it’s about creating the class and putting on a platform likes kill share or Udemy, which doesn’t really require much in terms of Maintenance, or you can host ion your own website and make sure you’re driving traffic to it. So, in terms of Maintenance, that’s the easier part, and I’m going to give that a two out of five, the fourth way to make passive income and, this is the truest form of passive income out there, and that is through dividend.
Investing the way to think about this is when you buya share of a company, you now own a little piece of that company, and so, if it’s paying dividends that means they are taking part of their profits and, giving you a percentage in terms of getting started I’ll. Give this a three because buying individual stocks for the dividends requires a lot of research. If you don’t want to be spending lot of time reading through all the financial statements and the accounts, then a better way to make passive income through dividends. Isby, invest testing in index funds.
This is theopathy that I take and it’s a safer way to earn dividends than only individual stocks, because you’re diversifying what you have exposure to so, instead of being focused on one company and its dividends, you now have pieces of lots of different companies that will pay dividends in terms of getting started.
I’ll give this one it’s really easy to do: set up a brokerage account invest in index funds, but in terms of Maintenance and making a lot of money through this I’ll give it a three, because, although you don’t really need to, do anything with your Investments, if it’s an index fund to really Reap the benefits, you do need to keep investing and also reinvest the dividends to buy more shares of those index funds and. Then the real passive income will be through the appreciation and the capital gain side of tithe fifth way to make passive income is through selling digital products, so this includes eBooks downloadable presets website themes. What I really like about digital products is that it takes time to, create them, but the costs are so low and it’s pretty much passive thereafter.
So, one example of someone who has done really well from the S is Steve shogi, who has packaged up all the knowledge he, had learned through his day job about design tips and bundled it up in an e-book and according to an article online. He made a 2.3 million dollars from it. We all think we have to create something revolutionary to make a lot of money, but that idea may just come from what we do day to day. Most of us go to job daily as an expert in our field, but never think to turn what we know into an eBook and that’s.
Exactly what he did in terms of starting I’d give this a two. You really don’t need any money to get started, but the harder part again is actually coming up with the idea that people will pay for and in terms of Maintenance and being able to make money from it. I’M going to give this three out of five because you can either put ion sites like Etsy and people can search for it or. You could spend more time creating an audience and, creating content and use that to boost your sales even further, but the most important thingies being able to provide something valuable that people are willing to pay for the sixth passive income method is affiliate marketing.
So, this is when, you promote someone else’s goods or services and, get a commission or a small percentage for doing. So, for example, if you see the links, inky description, those are affiliate links and so Ige a percentage of that sale and it doesn’t cost you any more money for buying that product through the link according to an article online the national average amount. An affiliate makes is 55000 per year and for me, through that and YouTube AdSense combined in the last week, I made nineteen thousand dollars.
So how easy is it anyone consign up and join the affiliate program that takes literally five minutes, so I’m going to give that atone in terms of getting started, but the hard part here is actually driving traffic. So, whilst I say made x amount in a week, actually it took me ayear to build a platform and build an audience. To get me in a place where I can make that passively and. So, the affiliate side is almost a byproduct of the amount of work that you’d put in to grow that audience in the first place and so to really scale and make this passive.
You do need a lot of traffics. You can put it on your social media. Website your blog your Twitter and the amount you make from, it is really dependent on how much you’re putting it up front to grow those Avenues. Sowmith.
That said in terms of Maintenance, I’m going to give it a four, because it is a lot of worktops.
Keep that traffic coming through organically finally idea number seven of this passive income stream video is productized service. This is a hybrid between a product and a service. Making money through a service is one of the easiest ways to make money like editing, videos or one-to-onecoaching, but these are limited, they’re capped because. It requires you to trade time for moneys it’s hard to scale.
There’s only one of Youso. A productized service then, is turning that service into a product and you’re automating the process so that you can eventually take yourself out of the equation and that income cane made passive. So, for example, one of my friends is, a personal trainer and she used to before the pandemic, do one-to-one classes and charged by the hour. Then she built it into a product High service. She offers subscribers 30 workouts per month for 18 per month, and she has about 4 000. People that are subscribed and she’s making monthly income from that, so she has ultimately made a package service she’s built an app she started subscription service and hired a team of peoples.
She spent a lot of time building this up which is. Why I’ll give this a four in terms of getting started? It’s not easy, but now she has other people that have stepped in and run the day-to-day soother personal trainers who record the workouts and, upload them or the marketing, and she basically oversees it all. But it requires the skill set. Tobe able to get there and make sure that values consistently being provided, which isn’t simple to do, and so even on the maintenance Sideband being able to consistently make money from this.
I would give this a four out of five, so those are some passive income streams to give you some ideas, if you have done any of these already I’m curious, to know what your experience was will there and if you’d recommend it yourself or if you, have other passive income streams that Have really worked for you I’d love to hear about it. If you did enjoy this video, you may also enjoy another video that I have, and I’ll link it up here and there on things that I no longer buy. Even though I have built up my passive income streams and I hope to see you there,
https://josebaezky.mikegeary1.hop.clickbank.net/?pid=290
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