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P2P lending can be a bit risky, but there's potential for a pretty good return on your investment. If youre interested you should take the time to educate yourself and make sure that you understand all the details. Peer-to-Peer Lending 101 from Great Financial Cents is an excellent starting point. .
Real estate crowdfunding websites allow you to invest in real estate without all of the headaches that typically go along with owning property. You dont have any of this job, you merely invest and take on a few of the threat.
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This is a really common investment since so many people want to invest in real estate but simply dont have enough time or want to be a landlord. Also, in many cases you can get started with a relatively small investment.
REITs (Real Estate Investment Trust) offer another means to invest in property without the hassle of being a landlord. The REIT owns income-producing real estate like office buildings, apartment complexes, shopping malls, or resorts. REITs make it feasible to invest in property on a tiny scale, and to earn a share of their income generated. .
There are many different kinds of REITs. Some are publicly traded on a stock exchange, and a few are not. REITs might also be in the kind of mutual funds or ETFs.
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If youre looking for an easy way to get started with real estate investing, REITs can be an excellent option.
Obviously, another option for investing in real estate is your excellent old fashion rental property. You can purchase a condo, single-family homeor multi-unit property.
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Owning rental properties can be a fantastic source of income, but whether or not it is truly passive will probably depend on a couple of factors. The more properties you own and also the further tenants you manage, the longer you will need to put discover this info here into it. If you want it to be a passive investment the best option is to hire a property manager. .
Here's a potentially lucrative passive income source that could be totally new to you. You can add authorized users for your own credit cards (without really giving them a card or access to your account) and be paid to do it. People who are looking to boost their credit score can find a increase in their score by piggybacking from your payment history.
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If youve never heard of selling/renting tradelines before it likely sounds absurd and dangerous. The first concern usually involves putting yourself in danger for adding an authorized user which you dont know and hope. But the procedure only involves adding the consumer to your account, the card will be sent to your own address and you can destroy it.
But, there is still some danger involved. The risk involves the chance of your credit card account being closed by the issuer, because in many cases this is going to be violating the terms. Its not illegal, however it will violate the terms of the credit card companies, so that they can close your account if they know you are doing it. .
Its definitely not for everyone, but a few folks are making good money with very little work. If you want to learn more I recommend reading this thread at Mr. Money Mustache for tons of details from a guy who's making a few thousand dollars per month with this and its very passive. .
One of my favorite, easy ways to earn money is by way of credit card bonuses. Many credit cards will provide you a bonus just for signing up and for making a minimum amount of purchases on the card during an introductory period. As an example, right now Chase is offering a $150 bonus if you sign up for a Chase Freedom Unlimited card and spend $500 on the card within the first 90 days. If youre like me and you make the majority of your purchases with a credit card, hitting $500 in 3 months is simple. .
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Now, this isnt something that you can do all the time, however you can sign up to get a new credit card or two a year, depending on your situation. Ive made hundreds of dollars all the previous two or three years using this approach.
Don't go overboard. Opening too many new credit accounts in a brief time period can damage your ability to get credit when you need it.