Passive Income Examples
Passive income is not beyond the reach of anyone, it is available to everyone. The best place to start would be with something that you already know. Use a hobby or something you have experience and knowledge in. Here, are some examples of passive income to help generate new ideas on what you can do.
Renting:
1. One of my friends has made a small side business renting out EPIRBS (Emergency Personal beacons) to people in my area. He collects a small fee for the rental of the beacon so that when they go out to see or hunting they can be located quickly if there is a problem.
2. There are tons of companies that start up or just want to have a space for a small period of time. You could be a renter of office equipment for this business. They like to rent Art, projectors, computers, office furniture and other related equipment on a short term basis.
Internet:
The internet is full of exciting potential passive income ideas that you can utilize from your home, and most of them are free.
1. Drop shipping is immensely popular these days people set up a web business or e store using a website, eBay or even places like Amazon. They drive traffic to the web site and people order the products. The great thing about this setup is that you never have any inventory. You make a sale and send the request for the order to be filled by a drop shipping company who then sends it to the customer.
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3. Online investing is another activity that many people do and do quite well. A little knowledge in business and stock investing is required. But, if you are proficient at charts and numbers this is a excellent way to earn passive income through long term investment, dividends, and option trading.
4. Affiliate marketing is another way people make money selling other peoples products. They advertise their products using articles, ppc, forums, blogs and any number of ways and make a commission off each sale.
Land:
1. If, you have access to land you can use it to your advantage to make a steady income growing a number of different things.
a. Plant Christmas trees every year to start to have a continues supply to sell in town
b. You can use it to raise live stock like rabbits or mice that pet stores and people are always in need of to feed their reptiles or for pets.
c. You can grow exotic plants in a home grown greenhouse. Here, is how to build on yourself with supplies around your home. (hub for green house)
Granted these are just a few of the small ideas that can generate a satisfying passive, income stream for you. Each one has there timings so effectively you could run multiple passive income streams. The idea is to use your time wisely. Work smarter not harder they say.
Setting up passive income streams does take some effort in time and money. But, the returns that you will get will be for a longer period of time. The best laid plans are ones that will continue to generate for you over years. Always remember to do your research prior to putting your plan in motion and always check your state and local laws to make sure you are in compliance with that.
