I've written a post about 15 Passive Income options before. Here are 14 options for the people that have more money to start. These are good passive income options with a possibility of a higher investment return in the long run.
*Always do your research to find the best option for you! 😉*
14 Passive Income options available to you that take time and a small start-up cost but have long-term profits!
Invest in Index Funds or Dividend-Paying Stocks (e.g. S&P 500). I talk about it more here!
Rent Storage Space out to others (e.g. Stashii)
Buy a Rental Property - You can earn passive income on the property you rent out to people. It will take a while for you to start earning income if you buy an expensive property but make sure your plan includes the house paying itself off. Remember, you also have to account for management fees, repairs and your own peace of mind as the homeowner.
Invest in REIT (Real Estate Investment Trust). E.g. Public Storage
Buy and Sell Domain Names
Invest in Royalties. Example: Royalty exchange: You make royalties when the artist does.
Purchase a Billboard. You might need permits. The idea is to buy a billboard in a popular area seen by many people. Companies will want to advertise on your billboard and pay you for it.
Purchase a Blog: Maybe you're not creative enough to make a blog but want to earn income from a popular blog. You can buy a blog then hire someone to manage it for you if management isn't your thing.
Create a Mobile App - This is great for people that sell a service (e.g. personal trainer fitness) or a product (e.g. books, perfumes, clothes, etc.)
Self-Publish a Book - There are many resources available to on how to publish your book. Once published, you can sell your books on websites like: Amazon Kindle, Book Baby, Lulu, Blurb, Google Play, Payhip, etc.
Publish an E-book - There are many free websites available to make an eBook (e.g. Canva, Visme, Adobe Express, etc.). and other websites to sell it on (e.g. Amazon Kindle, Book Baby, Lulu, Blurb, Google Play, Payhip, etc.
Sign Up for Dropshipping - This is when you are selling products without having inventory/stock yourself. Google, "How-to be a dropshipper" and you will find more information on how to do this. Companies that allow this are: Shopify, Amazon, etc.
Start an ATM Business. Place your ATM in important areas and you earn money from the surcharge fees ($3/transaction is yours!). Search the internet for more information on how to do this.
Start a Vending Machine Business (Google, "How-to..." and the websites Nerd Wallet, Forbes, and healthy vending sites will pop-up giving you step-by-step instructions.)
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