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However, youll probably still receive monthly or quarterly payments, depending on which investment opportunity you choose.6. Purchase your initial investment propertyRoofstock Investing in rental properties is one of those passive income thoughts that can be particularly intimidating, especially when it comes to finding tenants. Roofstock lets you purchase properties with as few as 20% down which currently have tenants living in them.
You dont even need to physically go to the properties!This is an ideal strategy if you reside in an area where property costs are too high to invest in, or you dont want the hassle and expense of traveling all over the country visiting potential properties. Plus, if you are new to single-family real estate investing, letting a place like Roofstock direct you through the course of action is a great way to get your feet wet.Once you buy the house, theyll pair you up with one of their vetted property managers to deal with the day-to-day landlord tasks such as collecting rent and scheduling maintenance.See Also: A Modern Way to Invest in Commercial Property Estate together with Equity MultipleAnother option: Consider starting your own property investment group.
According to Joseph Hogue, CFA in PeerFinance101.com, The common bond in most property investing groups is that one can help each other compete against the big money players to acquire the very best returns.Other Passive Income InvestmentsWhen most people think about investing opportunities, they think of stocks, bonds, and valuable metals.
Gone is the day of mountains of paperwork, higher brokerage fees and unattainable account minimums. Now you can invest on your own terms.7. Invest in dividend paying stocksAlly Invest The oldest of passive income thoughts, investing in stocks that pay quarterly dividends remains one of the most effective methods to generate money without much work.Lets say you purchase shares of Colgate-Palmolive stock.
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Over the previous seven years, Colgate-Palmolive has compensated between $0.34 and $0.68 per quarter to get every single share owned by stockholders.Depending on this link your long-term investment strategy, you may want to re-invest these dividends. However, if youre strictly looking for passive income thoughts, youd do nicely pocketing the cash.If youre new to investing, Ally Invest has complimentary courses you can take.
You can also check out this list of the ideal investment programs.8. Peer-to-Peer LendingLending Club If you want a higher than average return on your investment, and youd want to feel like youre contributing to society, Lending Club allows you to do . Lending Club requires your investment and enables people to borrow to start businesses, consolidate debt, and pay for medical care.Heres how Lending Club functions:Open an account and transfer as small as a $0.01 minimum initial deposit.Build your portfolio: Invest in a range of loans in increments as small as 25Get paid: Receive monthly payments as debtors repay their loans99percent of Lending Club investors using a 100+ note portfolios earn favorable returnsReinvest payments or withdrawProsper Like Lending Club, Prosper is also a peer lending lending group, but it has a twist.
Again, the yield is based on the amount of risk youre willing to take on, but I love how transparent the platform is.For each loan, you have to find that the danger rating. The very low risk / low return AA loans yield just over 4 percent, and it moves all the way down the line to the high-risk category, which can pay 30% or more.You also get to view certain information about every loan, including exactly what the debtor is using it for, the state they reside in, how long the past-due period is, exactly what the monthly payments are, and exactly what speed the borrower will pay.
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Butonce you get these up and running, you can take your foot off the gas and actually make a living online, all while you sleep.10. Affiliate marketingYouve probably heard of affiliate marketing before its when you earn a commission by promoting a product. The product that you promote online ought to be something youre knowledgeable about and that you think is high quality.
You can either form an affiliate relationship with a specific company (either directly or through a commission platform such as Commission Factory, RewardStyle or ShareASale), or you can sign up as an Amazon affiliate. I recommend both!Sounds great in theory, right But how can you actually become startedYoull need a site.
Since most mattress companies cover a 5 percent commission and the typical price of a decent excellent bed sold on the Internet is about $1,000, I'd make $50 each time someone bought a bed based on my recommendation.But, I need an online presence, so I can share my knowledge and make recommendations.