How to Start a Passive Income
How to start a passive income? Having a passive income can be a great source of financial security. However, it requires a bit of upfront work and ongoing maintenance. Fortunately, there are many ways to get started.
What is the easiest passive income?
One of the most common and oldest forms of passive income is owning real estate. If you own property, you can rent it out to tenants. However, this requires you to pay a property manager and perform maintenance on the property. Also, there is a potential for evictions. Luckily, there are legal protections to help prevent evictions.
Another way to generate passive income is by creating a website. Having a website can allow you to sell information products online, which can be distributed through social media and newsletters. Similarly, you can create digital guides, e-books and audio or video-based courses. You can then sell them through a storefront, website or even through affiliate marketing.
An alternative way to earn a passive income is through car rentals. If you’re not comfortable with driving a vehicle yourself, you can sign up with services such as Uber and Carvertise. You’ll be able to receive cashback and rewards points from the services.
Selling digital designs on sites such as CafePress or Etsy can also be a way to create a passive income stream. You can sell designs, logos and fonts. You can also offer a variety of branding resources such as emergency contact sheets and budget worksheets. You can also run sponsored posts for brands.