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P2P lending can be a bit risky, but there is potential for a pretty good return on your investment. If youre interested you should take the time to educate yourself and make sure you understand all of the details. Peer-to-Peer Lending 101 from Good Financial Cents is an excellent starting point. .
Real estate crowdfunding sites allow you to invest in property without all of the headaches that usually go along with owning real estate. You dont have any of the work, you merely invest and take on some of the threat.
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This is a really popular investment since so many people want to invest in real estate but dont have enough time or desire to become a landlord. Also, in many cases you can get started with a rather small investment.
REITs (Real Estate Investment Trust) provide another means to invest in property without the hassle of being a landlord. The REIT owns income-producing real estate such as office buildings, apartment complexes, shopping malls, or resorts. REITs make it feasible to invest in property on a small scale, and also to earn a share of their income generated. .
There are many different types of REITs. Some are publicly traded on a stock exchange, and a few are not. REITs may also be in the form 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 choice.
Obviously, another option for investing in real estate would be the excellent old fashion rental property. You could buy a condo, single-family homeor multi-unit property.
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Owning rental properties can be a fantastic source of income, however if not it is truly passive will depend on a few aspects. The more properties you own and the further tenants you manage, the more time you will need to put into it. If you want it to be a passive investment the best option is to hire More Info a property manager. .
Here is a potentially lucrative passive income source which could be completely new to you. You can add authorized users for your own credit cards (without really giving them a card or access for your account) and be paid to do it. People that are looking to boost their credit rating can find a increase in their score by piggybacking off of your payment history.
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If youve never heard of selling/renting tradelines until it probably sounds absurd and dangerous. The first concern generally involves putting yourself in danger for adding an authorized user that you dont know and trust. However, the process only involves adding the user to your account, the card will be sent to your own address and you can destroy it.
But, there's still some risk involved. The threat involves the chance of your credit card account being closed by the issuer, because in many situations this is going to be violating the terms. Its not illegal, however it will violate the terms of the credit card companies, so they can close your account if they know you are doing it. .
Its definitely not for everyone, but some folks are making excellent money with very little effort. If you want to learn more I recommend reading this thread in Mr. Money Mustache for tons of information from a guy who's making a couple thousand dollars per month with this and its very passive. .
One of my favourite, easy ways to make money is by way of credit card bonuses. Many credit cards can give you a bonus just for signing up and for making a minimum amount of purchases on the card during an introductory period. For 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 using a credit card, hitting $500 in 3 months is easy. .
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Now, this isnt something which you can perform all of the time, however you can sign up for a new credit card or two a year, depending on your situation. Ive made hundreds of bucks each of the past 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.