It would be great to just relax and watch the money flow in. That is the basic idea of passive income.
To get things moving, you will need to first invest money or your time.
This article contains a list of 30 passive income ideas that are easy to implement and can yield great results in terms of profit.
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1. You can license videos right from your smartphone
You don’t need to fill out complicated paperwork to get the job done.
You will only need to upload your content on websites like Newsflare and Rumble.
I was unable to make a viral video, but I am more than satisfied with the profits I have made from my efforts so far.
If you aren’t convinced, take a look below at the image. Because Newsflare is a London-based agency, the amounts are shown in pounds.
Here’s another one from Rumble, where I have only sold two videos so far.
Based on royalties alone, I have been able earn more passive income than $5k.
Videos containing toddlers, babies and cute pets are still a top seller. Learn how to sell videos.
2. Real estate crowdfunding
Real estate is the best investment.
Crowdfunding is a great way to get started in business. Real estate companies, in particular, have used this method for decades to raise the funds needed to start a job.
Fundrise is our favorite platform for investing in real estate. Fundrise is available to all investors, and the minimum investment to join is $500.
This is not an easy task, I’m sure, but with the right people around you, it’s possible.
To create passive income streams, royalties are what you need. It is possible to collect royalties through ads or affiliate links for many years. And it can all be done with just one video.
If you are interested in learning more, please take a look to this article. We went into great detail about how to make money with Youtube. The screenshot below provides a quick overview.
You don’t even have to create videos yourself. I paid a freelancer for a tutorial on how I can make a WordPress blog. I also placed my affiliate link to HostGator below.
It still makes me money from time-to-time, even though the video has barely exceeded 5K views.
Websites like Webull, M1 Finance and Stash Invest are great places to start. They will teach you how to invest smartly. But before you dive in, I recommend that you do your research.
Register for Webull using this link to get free stock after you deposit. Sign up for Webull and invest $10 to get a stock valued between $8 and $1,000Acorns will give you $5 and $5 respectively. You can also get $5 when you sign up and invest $10. You can then buy and sell stock for no cost! You will be charged a fee to use any other stock trading platform. How to Buy Stocks Online with Webull
5. Let your apartment, house or room be rented
Listing your space on Airbnb is one of the best passive income options for beginners.
You might travel a lot if you love to travel.
You don’t need to spend your own money on vacation. Instead, you can cover your expenses and have no reason to stop your adventures.
The best part is that the income you generate will be passive. This makes it an excellent choice for everyone, regardless of their age or gender.
You will have to clean up the mess from time to time in order to keep it neat. If you ask me, it seems like a small price to be paid.
I also recommend listing your space, such as a garage or parking lot, with Neighbor.
6. Dividend Stocks
This is one of the oldest passive income strategies.
You can invest some of your money into shares. You will be rewarded depending on how much profit your chosen company generates and how many stocks your stock portfolio contains.
This can be risky. Don’t invest unless your ready to share some of your savings. If things go your way, you can expect a handsome profit.
A $5.000 investment in the S&P 500 would net you $500 per year. This is not much, but it works well on a larger scale ($500k generates $50k per year).
M1 Finance is our favourite free investment platform. We love their platform for many reasons: It’s flexible and customizable, it doesn’t charge any fees, you can buy fractional shares, and they have an auto-invest feature.
Related: Best Index Funds
7. Earn some cash back after shopping
I won’t get into details now, I just wanted to offer an option. This blog already has extensive information on the subject. I recommend that you check out this article to get more details.
Register for Rakuten to get $10 off your first purchase. Sign up Drop and receive cash rewards for your daily spending. Sign up Ibotta to earn money scanning receipts
Read more: These 7 Cash Back Apps Are Worth $500
8. Online courses
Udemy and Teachable are hugely successful today, with thousands of courses sold already.
There is money to be made in this industry. All you need to do is create a course that teaches a skill you are proficient in.
You don’t have to create a course by yourself, there are many freelancers who would be happy to help you.
You should just come up with a good idea, then work out the details and move on to create residual income.
9. Coin-operated self-service car wash
This option is expensive, so let’s be real. If you have the money to invest, this option can be a real goldmine.
It’s all about location, location, location.
Self-service car washes play a significant role in the location. So be sure to choose your spot carefully. The best part is that you don’t have any work to do to get there.
Self-service car washes can make a great passive income opportunity.
10. A vending machine is a must-have
This one, like the previous idea, also requires investing. To get started in the vending business, you will need to first buy a machine and clean it. Then, stock it with food and beverages.
You must also place it in a convenient location. Consider investing some extra money to help you do this.
People claim that vending machines offer a six-month return on investment rate after which the income is almost completely passive.
A stand-alone, self-operating water and ice vending machine is another great option for vending machines (especially if it’s in a hot climate). A company such as Everest Ice and Water can help you purchase a machine that is easy to set up, maintain, and remotely manage. An ice machine is more profitable than one that sells snacks or drinks. The machine can make its own inventory. All you need is electricity and a water hookup. Everest is your own business and you don’t have to pay licensing fees.
Ice vending machines can be placed in garages, storesfronts, and anywhere else that permits.
11. Your parking spot can be rented
Traffic jams are getting worse every day and there is no way to predict that this situation will change soon. This statement is true no matter where you live.
It is becoming more difficult to find a spot in crowded urban areas.
If you have a parking spot that you don’t use often, you can download an app like Just Park or Spot Hero and let customers find you. This is the easiest way to earn passive income!
12. Stock photography
Your hobby can be a business. Photography is a hobby that most people enjoy. However, if you are a good photographer and have the right equipment, it can be a side business.
It won’t feel like work because you’ll have fun doing it.
Upload a few photos to Shutterstock and see if you can improve your photography skills.
13. Peer to peer lending
Who would want to deal with bank loan applications anyway? Lending Club is a platform that allows you to do this.
Is it safe to lend your hard-earned money to strangers?
You can see how it went here. Would I ever do it again? It’s possible, but it’s passive income.
If you’re a designer, it should be easy. Let’s wait and see what happens when you upload some of your work on websites like Redbubble or Amazon Merch.
You can hire a designer to help you with the design, but this will require some initial investment that may not be worthwhile.
Related: Amazon T-Shirt Business Start-up Guide
Did you ever buy something and then see it on sale the next day.
Earny allows you to monitor your purchases and receive refunds when prices drop.
Many people have already filed for refunds.
16. Save money by opening a savings account
This tactic works only if you have money saved. If you don’t have the money, then find the bank with the best terms and leave it there.
It is a waiting game so don’t be surprised if things change. This is still a good option for investments.
17. Niche websites
Are you a master of a subject and can share your knowledge with the rest of the world?
A niche website could be the best solution. Although it may take some time to build an audience (or find the right person to do so), it will soon be easy.
Affiliate marketing is a great way to make money. It’s as simple as writing interesting content and placing your links in a clever way. It can be almost automatic if done correctly.
Hosting is required to host a website. HostGator is a recommended service by our readers. HostGator allows you to launch your blog and get web hosting starting at $2.75 per month
18. Publishing an EBook
Intentionally, I didn’t mention writing a book as anyone can hire writers to do it on Fiverr.
You simply need to publish it under your own name. You can then collect the royalties and make passive income.
19. Create a website
Although it’s not completely passive at the beginning, there are initial investments that must be made. However, we’re talking about spare cash, at least in comparison to the above option.
Your chances of making money from ads will increase as your website grows in popularity and views. That’s a passive source of income, as you’ve probably guessed.
Similar: How to Make a WordPress Blog Profitable and Cheap
20. Earn money to have decals placed on your car
Many companies would be willing to pay you money to advertise on your vehicle.
They are they real?
It’s true that I have never personally experienced it. However, if you are interested in learning more, you can do some research on your own.
Websites such as Carvertise or ReferralCars can help you get started.
Are you a person with a product or skill that you want to share with the world but cannot get funding? Patreon can be your lifesaver.
This site is visited by people who are always looking for interesting projects to support. Make sure you present your project in the best possible way and offer financial rewards to those who help.
22. Make an app
Are you a genius with an idea that could change the world? All jokes aside, you only need a team of developers and designers to create an engaging game.
If done correctly, even a simple app can make a lot of money. It’s not easy, but not impossible.
Related: 12 Best Passive Income Apps for iPhone and Android
23. You can rent your tools and other items
You can rent a hoverboard, paddleboard, bike, or other equipment from your home.
Some tools are very expensive and not everyone is willing to spend the money. It’s just a matter of supply and need. You just need to find a way into the game, and then invest wisely to make passive income.
To give you an example, you could rent out expensive Roomba Vacuum Cleaners. While everyone wants their home to be clean, not everyone is willing to spend close to $1,000 to do it.
24. Reduce costs
It would be wonderful to have someone to negotiate and bargain for you. Trim fills that role perfectly. Their team scans your bills and receipts, then gets to work trying to negotiate lower prices.
If they are successful, they will take a 25% commission. However, if they fail, you won’t be charged a penny. Although the 25% fee may seem scary, it is not a loss. You have already paid for all of those items.
It is only a matter of whether you will get any money back. The list doesn’t end there.
Trim savings has a great referral program. You and your friend will both get $2 each if they register using your account. A perfect passive income scheme.
Do you remember when you saved spare change as a child? You might have stopped saving spare change as a child, but you can now do it again with Acorns
What is the secret to it?
It keeps track of all your purchases and rounds up each bill to the highest dollar. If your check is $2.45, the app will immediately round it up to $3 and invest the remainder.
While you won’t notice a significant change in your lifestyle, you will soon become an investor.
26. Credit card reward
Many people have credit cards, but they are often unaware of the rewards available to them if they make the right decision. Some credit cards offer frequent travelers free miles and reimbursements for travel expenses, among other great benefits.
You might be able to turn your passion for travel into a profitable business if you have to. You can make it completely passive by getting a credit card that suits your needs.
27. Earn money for doing things that you already do
Sign up for apps such as Uber, Lyft, and DoorDash to make money, instead of getting hitchedhikers along the way.
28. Online publishing of music
Although no one is buying records anymore, the music industry is still alive. How is that possible? This is where streaming services come in.
But wait! What if I don’t have any musical abilities?
It’s easy to see why. Just head over to Fiverr and search for a cheap musician that you like. The only thing left is to upload your purchased music to one or more streaming services, and then collect your check.
29. Monetize your hobby
First, it is important to remember that a hobby should be something you enjoy doing, but that you can’t make money from it.
No matter your skill level, you must learn how to sell your product and yourself first. Then, build a loyal following and make money. You will eventually get paid to do what you love if you succeed. Isn’t this the ultimate goal?
Check out: Hobbies You Can Monetize for Extra Income
30. Uber/Lyft drivers can rent your car.
Rent your car to Uber/Lyft or other service drivers through a company like HyreCar, Turo and make passive income.
Similar to Airbnb for cars. To be able make this happen and make decent cash, you need a better vehicle.
It’s very simple. The driver meets you at your home, gives you keys, and HyreCar issues insurance for them as long as they drive your car.
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30 passive income ideas to build wealth in 2022 dollarsanity.