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P2P lending can be somewhat risky, but there is potential for a fairly good return on your investment. If youre interested you should take the opportunity to educate yourself and ensure that you understand all the details. Peer-to-Peer Lending 101 from Great Financial Cents is an excellent starting point. .
Real estate crowdfunding websites enable you to invest in real estate without all the headaches that usually go along with owning property. You dont have any of this job, you merely invest and take on some of the risk.
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This is a really popular investment because so many people want to invest in real estate but dont have enough time or want to become a landlord. Also, in many cases you can get started with a relatively modest investment.
REITs (Real Estate Investment Trust) offer another way to invest in real estate without the hassle of being a landlord. The REIT owns income-producing property 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 generated. .
There are several different kinds of REITs. Some are publicly traded on a stock exchange, and some 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 start with real estate investing, REITs can be an excellent choice.
Obviously, another option for investing in real estate is the good old fashion rental property. You could buy a condo, single-family homeor multi-unit home.
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Owning rental properties can be a great source of income, but whether or not it is really passive will probably depend on a few factors. The more possessions you own and also 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 lucrative passive income source that may be completely new to you. You can add authorized users for your own credit cards (without actually giving them a card or access to your account) and be paid to do it. Individuals who are looking to boost their credit rating can get a boost in their score by piggybacking off of 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 usually involves putting yourself at risk 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 is still some danger involved. The risk involves the chance of your charge card account being closed by the issuer, because in most situations this will be violating the terms. Its not illegal, however it will violate the details 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 folks are making excellent money with very little effort. If you want to learn more I recommend reading this thread at Mr. Money Mustache for tons of information from a guy who's making a few thousand dollars per month with this and its quite passive. .
One of my favorite, simple ways to earn money is by way of 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 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, then hitting $500 in 3 months is simple. .
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Now, this isnt something that you can do all the time, but you can sign up for a new credit card or two a year, depending on your situation. Ive made hundreds of dollars all the previous 2 or 3 years with this approach.
Don't go overboard. Opening too many website here new credit accounts in a short period of time can damage my link your ability to get credit when you need it.