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Creating passive income takes work, but once you implement those processes, it's one of the most fruitful income sources that you'll ever have and it's also very rewarding.
I'm going to share some passive income sources that you can start today.
Investing
I know many of you reading this might think; "well, I don't have enough money to get started". I get it, you're not alone in this, but it doesn't really take a lot of money to get started. Whether it is fifty bucks a month, a hundred dollars a month, anything that you can start investing in, you can start making gains and you can start making interests off your investment.
So, whether you're making capital gains off of your mutual funds, your stocks or if you have dividends that pay out on a consistent basis, these are all sources of passive income that you can get. If you're not sure how to start investing, there are a ton of online providers, there are robo advisers such as betterment, wealthfronts acorns, RobinHood, allyinvest,
e-trades etc. If you know nothing about investing and you want somebody to pick those investments for you, I'd recommend betterment. If you're putting any money in, they're going to choose those investments and then you'll sit back and start making those capital gains and dividends.
Another option that I love when it comes to investing is peer-to-peer lending. Peer-to-peer lending is just as if you're acting like the bank, instead of somebody going to the bank to get a loan, you're giving them a micro loan, so you become the financial institution. In giving out micro loans you can give as low as a hundred dollars or it's equivalent based on your local currency per loan,sometimes less.
I don't know if you've ever taking a personal loan from the bank, but you know how much interest they charge. Imagine taking the place of the bank and collecting those interest.
The top two peer-to-peer lending websites are lendingclub and prosper
Stock photo royalties
I have a friend who is a photographer, when he takes pictures of people and things, he doesn't really charge the ones that come out nice, he uses them for his istock photography account, with their permission of course. When he uploads those pictures on istock, businesses from all over the world would use these pictures on their website, brochures and other marketing materials. This guy makes royalties on a daily basis from pictures he uploads on istock, even from pictures he uploaded several years ago. So if you have a knack for the camera, and love to take pictures of people, things or whatever, consider using istock photography service.
This is for any artist that has a community of people that love their art, a growing community and wants to get paid for his/her work, it could be your drawings, your music or whatever. Each time that you release a new item, you can get paid a fee for that and you get to determine what that fee is. Let's say you are a talented sketch artist signed up on patreon, anytime you make a new sketch, image or drawing, your community would pay you a fee.
On patreon, you are paid for what you love to do. If you're a music artiste, you get paid by your community every time you release a new music video. This are things you as an artist already love and do, but instead of creating something and expect that someone would discover it, you can make some cool extra cash from patreon. Check out patreon today.
Write a book
You could write a book; it's time intensive and mental tasking, yes, no doubts, but writing down, your story or experience over time, can be a really profitable venture. You can get royalties from your published book even after four years of publishing. You can log into amazon anytime and see how much your books are being sold for. Maybe you're not ready to do a hard-copy book, you can also sell an e-book. There are tons of authors that release ebooks all the time on amazon.
Writing and publishing books on the amazon platform, is so much easier than if ever was.
Mike Piper a blogger, owner of oblivious investor is making over six figures a year from the e-books he sells. The thing is, he doesn't have a ton of e-books but he has enough and the ones he sells accrues nothing less than six figure every single year.
Writing a book whether an e-book or a hard bonk copy can be very lucrative, you just have to get the book done and get it out there.
Sell physical products
This could be a variety of things, jewelry, clothing, shoes etc. It's amazing what you can sell online these days especially with e-commerce sites like amazon, Ali express, Jumia and konga. If you don't want to go through that route and you actually do have a physical product that you intend selling you can create your own e-commerce site. This way you control and monitor the activities of the site.
Real Estate
There are many ways in which you can get involved in real estate; you can buy them and sell, or you can become a landlord with tons of rental properties. If you want to venture into real estate, make sure that you have a good mentor, if not you could lose a lot of money very quickly, if you don't know what to do. If you're not comfortable in investing into physical real estate, you can invest your money in sites like fundrise.com.
In fundrise, they'd take your money and put them in a pool with other real estate investors and someone is going to be in charge of choosing those physical locations for you. In that way, you're not in charge of picking those locations or helping to collect rent, or making sure of the upkeep of those buildings, all you do is sit back and collect the interest in dividends
Publish content and run ads
If you're comfortable standing in front of a camera, you can publish content to YouTube and make money. So, how exactly is money made on youtube, the most easiest way is the ads that you see. You know those annoying ads, the ones that pop-up the first five seconds of every YouTube video that you watch, yeah, those ads. Anyway, YouTube publishers get paid anytime you watch any of their videos.
YouTube is always looking for content creators that are willing to put in their time and effort to create good video content. Let's say you open a YouTube channel, and you start making makeup tutorial videos, you'd start making money with the ads from your videos, the ads would increase as the videos increase and your money will increase as well.
Start a blog
Starting a blog can earn you money, the more the traffic to your site, the more money you make. Some local companies or multinationals can put up ads on your blog site at a fee, depending on your agreement with them. The good thing is, you can blog about anything that interests you, from food to real-estate, from sports to lifestyles, or whatever.
I highly recommend Steemit.com if you are looking to take blogging as a serious business.
Creating your own online course
Creating an online course is one sure way to make passive income. You can create a course of choice or something you feel people would be interested in and put it in front if the right audience. Anytime people take the online course, they pay you a fee.
You can make some real money doing most, if not all of the aforementioned things on steemit. For me steemit is one major way to get passive income, you could write blogs, or upload videos on dtube, you get paid for whatever activity you carry out on the steemit platform. Steemit is an amazing way to accrue passive income.
I'd love to hear your thoughts and opinions on this issue, please leave a comment in the comment section. Thank you.
STACH is a physical Accelerator Hub dedicated to decentralizing the offline by breaking the barriers to accessing the internet like light, internet and conducive working space. Image Source: Marinergalaxy, Shutterstock, Tubefilter, Akkus, Seopressor, MISCW, Twitter, Forbes and Batic
STACH is supported by @Sndbox as a Sndcastle project.
I did like to take up the YouTube ads and fundrise as a way of making passive income but the problem is how to build your channel through subscribers
Building your subscribers depends largely on your content, if you put up what people want, your subscribers would increase. Thanks for stopping by @jaeydallah
Wow, this is really wonderful. I think you @stach should consider organizing business seminars because many Nigerians don't know where to invest. This kind of post needs to read and re-read again every morning before leaving your various houses as it will help guide one's day keep them focus. I must resteem this walahi. Thanks for sharing @stach.
Yeah, so true. Many Nigerians don't really know where to invest their money, that's why I decided to write about this. Thanks for stopping by @casweeney
I took my time to read this. I guess many of us have read about passive income over and over again, but still haven't gotten around to trying any or most of them out.
I'm currently writing my first book. I hope it gets to pay the bills someday.
@dandymee you should try out a few, it would them profitable plus it won't really take much from you. Thanks for stopping by
This is the best post in Steemit..🔥🔥🔥 upvote :)
Vote up dr!
Thanks for stopping by @doctor.steemit
Nice article
Very nic post
These are all wonderful ideas... Great post
Yeah, they are. Thanks for stopping by @searchengine
I saw a lady in the used bookstore scanning barcodes and I asked her what she was doing. She had an app that told her what books were selling for on amazon so she bought 2 dollar books and sold them for 50 bucks. How easy is that? There are so many of these alternative ways to make money if you get laid off from your job and you have these already going you can survive easily. I currently make youtube vids, run crypto faucet, do surveys and Steemit. I am looking into blogging about amazon products where you get a percent of sales that came from your page. Also the next generation photo instagram sharing is going to be like here with crypto payments. So many ways to make money!
Wow, that's amazing @viraldrome. Thanks for sharing and stopping by
One of the best information I've had today
These are very great ideas
This post is a wake up call for me
This is very good ideas i am resteeming it
I am learning first hand how great steemit can be for passive income. Although I still have a lot to learn about blogging, I have learned from others how to delegate SP to earn income. Hopefully one day I can make it into a passive income I can retire on.
All your ideas are starting points to things I considered but never started. To those who have yet to do anything to earn passive income I would advice to start now. The easiest would be to open a steemit account. The blogging part for some will be easy but for others like myself it maybe difficult.
The best part of passive income is the worry free part of the investment. I do not have to look over the numbers everyday worrying if it goes up or down. I simply earn as time passes. Thanks.
Wow, so true @mawit07. Getting the knowledge is one thing, applying this knowledge is another thing. Thanks for stopping by
THIS POST WORTHS RESTEEMING AND I HAVE JUST DONE THAT NOW.
This is one of the best information I have read today, I resteem this post so as to get to some of my friends who may also like the post and upvotes it and to also save this info in my blog.
@stach,thank you so much because this info is very rich in content, informative and appealing.
Thanks for stopping by @mike4christ
These wonderful money making ideas abounds, but discovering them are the problems. I quite appreciate the informations you have given us, thanks.
Thanks for stopping by @ladybest
This is a nice article. In fact am visiting betterment right now. Thanks @stach
Woow I have really learnt a lot from this post...thanks...
Thanks for stopping by @macmari
Yeah, you should. Thanks for stopping by @apiprincz
Some really innovative ideas in here...thanks for this
I'm glad you think so @fejiro
informative! thank you for posting this! ^^
Thanks for stopping by @riafadul
Does Patreon take writers too? My issue with some of these stuff online the PayPal battle. Thank God for cryptocurrency and Steemit.
Great post @stach
Well, I definitely confirm that selling physical products is not a passive income at all.
I can confirm that one of the best profitable solutions is to sell products but it's DEFINITELY not passive and especially at the beginning. Maybe after one or two years when every process are good but otherwise : it's hard work !