Top 5 Ways to Make Passive Income
Creating and maintaining a website or blog can be a great way to earn passive income. You can also create an online course or sell digital products. The best part is that you can resell these products repeatedly for a high profit margin.
What are some easy sources of income?
Vlogging is a great way to monetize your video skills. You can advertise your vlog through sponsored content and affiliate links. You may even be able to find sponsors that will compensate you for promoting their product or service. Source : https://goxapp.com/passive-income
You can even rent your extra room to a roommate. This can be a great way to get a boost in your monthly income. Rentals are normally cheaper than hotels. You will also have to deal with maintenance issues and multiple property tax bills.
Another great way to make passive income is by investing in dividend paying stocks. These types of companies pay a small portion of their earnings to their shareholders, which is deposited automatically into your brokerage account.
For the true passive income buff, you can consider investing in real estate. There are several platforms that allow you to invest in real estate projects, such as Fundrise. These investments offer quarterly dividends. Unlike a stock, you aren’t going to have to worry about selling the investment.
Building an app can also be a great way to generate a passive income. You can offer free apps or charge a fee for the app itself. Depending on your interests, you can find a niche for your app that will generate a high return on investment.