[vc_section][vc_row][vc_column][vc_column_text]4 Ways to Create a Passive Income Stream
Can you make money while you sleep? It seems like the start to the usual every day internet scam. But done right, earning passive income is 100% legit, and more important doable for you. By definition, passive income means generating money with minimal activity through a variety of ventures requiring very little upkeep.
Some of the most common avenues are blogging, launching a product, or investing. There is no magic trick and some effort is still needed to start. But the point is to plant the seed of money and watch it grow, even when you are sleeping. Check out these ideas to help you get started.
- Rent your space.
Do you have an extra room or an entire apartment begging to be monetized? Renting it out is a good source of passive income. AirBnB is big these days and you may have even used one in some of your travels. These accommodation attract people because they are cheaper than a traditional hotel but equally comfortable. As a renter, you can make money with your home that just might be sitting empty otherwise.
- Start blogging.
It takes a lot of effort to get started, but once you get your blog going, there is no stopping it. The key is providing content that is valuable to people. The more content you create, the more traffic you will get, up to a point where you do not need to do anything and the traffic still comes organically. A blog is also very cheap to start, as little as a penny on your first month and a couple of dollars after that. Give blogging a try! It is truly a cost-effective way to create a pasive income stream.
- Create an online store with drop shipping.
Have you ever bought anything online? Chances are, the website you shopped from did not even touch the product you bought. Drop shipping is having its turn at the spotlight in the eCommerce world and you can get a share on it. Simply build a website, offer products, and when a customer orders anything, have the manufacturer ship it directly and complete the order. You collect the profit without any effort. You do not even need to have an inventory!
- Invest in high dividend stocks.
Building a portfolio has two advantages: you earn dividends and capital gains, which are both great sources of passive income. Just make sure you select solid, high dividend stocks so that you enjoy a nice payout every quarter or so. Of course, it takes some education to get skilled in stocks but this is one investment that you will never regret.[/vc_column_text][/vc_column][/vc_row][/vc_section]