30 Passive Income Ideas You Can Use to Build Real Wealth
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You will have to do plenty of research to find good stocks and invest a significant amount of money to receive large dividend checks. However, if you consistently invest money into dividend stocks you can amass a nice residual income over time. Investors can fund real estate loans to gain passive income or buy an equity share in a property for potential appreciation.
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An upfront time investment You can't earn residual income without being willing to provide at least one of these two. Today, I have a big list of passive income ideas you can try regardless of the category you fall in. Passive Income Ideas Requiring an Upfront Monetary Investment These types of passive income require you to invest money up front to generate the passive income later. Don't be alarmed though - you can start with as little as $5 with some of these ideas, so it's achievable for everyone. one Dividend Stocks Dividend stocks are tried and true way to earn passive income. You will have to do plenty of research to find good stocks and invest a significant amount of money to receive large dividend checks. However, if you consistently invest money into dividend stocks you can amass a nice residual income over time. For any of these investment opportunities, make sure you open an account at the best online brokerage, and get rewards while doing it. Our favorite place to invest is M1 Finance. You might not have heard of M1 Finance, but it's a FREE investing platform that allows you to build a portfolio, and invest in it for free. This is amazing for investing in dividend stocks because you can build your portfolio of, say, thirty stocks. Then, your investments will be auto-allocated to your entire portfolio every deposit - for FREE! You can even auto-rebalance. Then, your dividends can also be reinvested. It's a fantastic platform, and it was made for this. two Peer to Peer Lending P2P lending is the practice of loaning money to borrowers who typically don't qualify for traditional loans. As the lender you have the ability to choose the borrowers and are able to spread your investment amount out to mitigate your risk. The most popular peer to peer lending platform is Lending Club. You can read our full lending club review here: Lending Club Review. What's great about Lending Club is that investors are earning 4-6% returns on average - and that's all passive income. You simply lend your money, and you get paid back principal and interest on that loan. The median return on cash flow is 4.1% - which is better than any money market fund you're going to find today. This also makes Lending Club my favorite CD alternative. three Rental Properties A cash flowing rental property is a fantastic way to bring in a monthly income. To make this truly passive you can outsource the running of the properties to a management company. However, the internet has made investing in rental properties easier than ever before. There are a lot of ways you can invest in rental properties depending on what your goals and interests are. You can be a limited partner in large residential or commercial properties, or you can buy homes and be a landlord - all online! Invest In Single Family Homes If you're looking for a more traditional path to real estate investment, check out Roofstock. This company allows you to buy cash-flow positive single family rentals - online! You can sign up and start searching properties today. Check out Roofstock here. The great thing about using a platform versus doing it yourself is that the income is even more passive. Check out our full Roofstock review here. Do you not want to be a landlord, but still want real estate exposure and income? Then consider being a limited partner in a large development. With these options, you can invest in multi-family or commercial properties. You get the income and tax treatment just like regular real estate ownership, but you don't do any of the work! Our favorite platform for this is RealtyMogul because you get the flexibility to invest as little as $1,000, but can also participate in REITs and private placements - typically not offered to the public. Investors can fund real estate loans to gain passive income or buy an equity share in a property for potential appreciation. Their platform is open to both accredited and non-accredited investors. One of my favorite ways to get started with rental properties is through EquityMultiple.
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