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P2P lending can be somewhat insecure, but there is potential for a fairly good return on your investment. If youre interested you should take the time to educate yourself and make sure that you understand all of the details. Peer-to-Peer Lending 101 from Good Financial Cents is an excellent starting point. .
Real estate crowdfunding websites allow you to invest in property without all the headaches that usually go along with owning property. You dont have any of this work, you merely invest and take on a few of the risk.
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This is a really common investment because so many people want to invest in property but simply dont have the time or want to become a landlord. Also, in many cases you can get started with a rather small investment.
REITs (Real Estate Investment Trust) offer another way 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 hotels. REITs make it feasible to invest in real estate on a tiny scale, and to earn a share of the income produced. .
There are several different kinds of REITs. Some are publicly traded on a stock exchange, and a few are not. REITs may also be in the kind of mutual funds or ETFs.
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If youre looking for an easy way to start with real estate investing, REITs can be an excellent choice.
Of course, another option for investing in real estate is your good old fashion rental property. You can purchase a condo, single-family home, or multi-unit home.
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Owning rental properties can be a fantastic source of income, however whether or not it is truly passive will probably depend on a couple of factors. The more possessions you own and the further tenants you manage, the longer you'll need to put into it. If you want it to be a passive investment that the best option is to hire a property manager. .
Here's a potentially rewarding passive income source which could be totally new to you. You can add authorized users for your own credit cards (without actually giving them a card or access for your account) and be paid to do it. People who are looking to boost their credit score can get a boost in their score by piggybacking from your payment history.
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If youve never heard of selling/renting tradelines before it probably sounds absurd and dangerous. The first concern generally involves putting yourself at risk for adding an authorized user that you dont know and trust. But the procedure only involves adding the consumer to your account, the card will be sent to your own address and you can ruin it.
However, 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, but it will violate the terms of the charge card companies, so that they can close your account if they know you are doing it. .
Its definitely not for everyone, but a few people are making good money with very little effort. If you want to learn more I recommend reading this thread in Mr. Money Mustache for tons of details from a guy who's making a couple thousand dollars per month with this and its quite passive. .
One of my favourite, easy ways to make money is through credit card bonuses. Many credit cards will give you a bonus just for signing up and for making a minimum amount of purchases on the card during an introductory period. As an instance, 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, then hitting $500 in 3 months is simple. .
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Now, this isnt something which you can perform all of the time, however you can sign up to get a new informative post credit card or two a year, depending on your situation. Ive made hundreds of bucks each of the previous 2 or 3 years using this approach.
Don't go overboard. Opening too many new credit accounts in a short period of time can damage your ability to get credit when you need it.