The beauty of passive income is that it’s easier to build than active income. Just like residual income, the longer your investment sits there, earning you money day after day, the better it gets over time. You work once, and you can expect to receive the benefits for years to come.
Here are eight online passive income ideas to get started on.
Earn a commission from products you recommend to your audience. For example, if you have an email list, start promoting affiliate offers within your emails.
You can do this through a traditional banner ad or a simple text link. You could even promote the products and services of a company that’s completely unrelated to what you usually talk about.
Affiliate marketing involves many factors like finding the right products for your audience, determining how much commission you get paid per sale, and finding the best way to track your sales.
According to reports, in 2020, e-book revenue in the United States reached $1.1 billion.
If writing by hand isn’t your forte, why not create an eBook and sell it online? Writing and publishing an eBook is easier today than ever before. With many reputed websites, you can earn up to 70 percent royalties on eBooks sold in the Kindle Store.
There’s also a print-on-demand format, where there’s no upfront fee to publish your book. You’ll receive a royalty for each copy sold.
The eBooks market is growing at a much faster pace; eBooks allow you to connect with like-minded people much more quickly. Nowadays, readers are busy and don’t have time for traditional media channels like newspapers, radio, or TV. Hence, it is one of the best online passive income ideas you can use.
Sell Your Photos Online
Start making money by selling your photos online. The median photographer earns $59K per year. Consider selling them through various stock photography websites if you’re artistic or enjoy taking photographs of events, places, or people.
First, you need to create a portfolio of your photographs, then upload them to a stock photo website. Finally, add descriptions and pricing information for each image, and wait for the orders to come rolling in.
Create Courses to Sell Online
Create an online course, upload it to an online learning website, and watch the money roll in. If you have experience teaching for traditional brick-and-mortar colleges, this is an option worth considering.
Even if you’ve never taught anything before, there are plenty of courses online about almost any topic that can get you started on the right foot.
Online teaching sites are a great place to create and sell courses to an international audience. They provide the tools, community, and reach that online course creators need. Online courses can become a source of both income and credibility — it just takes a bit of effort.
Invest in Real Estate Online
Real estate is a lucrative market, and it’s also costly. Even if you have the money to buy rentals, it’s better to invest where you can share in the success and profits of the property.
That’s exactly what real estate crowdfunding websites do. They allow investors to invest small sums into multiple properties.
You can invest in real estate from the comfort of your living room. Just register, pick a few properties and start bidding.
Online real estate investing is undoubtedly one of the most attractive online passive income ideas today.
Realty shares work with investors who want to pool their money together to buy properties that were once out of reach. The investor earns a share of the rental income and appreciation in the property’s value.
Sell Your Crafts Online
You can sell your homemade crafts and art online too. It is an excellent option if you already make soap, jewelry, purses, or mugs. Some popular marketplace offers handmade items, and millions of customers find what they’re looking for here every day.
Sell Old Books Online
Today, several websites will let you list your used books and other media for sale, and in return, they give you a small percentage of each sale when it’s completed.
Well over 600 million new print books were sold in the U.S. in 2014, and this helped the resale market grow as well. Consumers bought over $1.84 billion worth of used print books last year.
Invest in Stocks Online
One of the best options to create passive income is investing your money. Just like you can invest in real estate online, there are plenty of stocks that offer the opportunity to get started with only a tiny amount of money.
If you’re already spending $10 per month on coffee, why not make it into an investment that will make you money?
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