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P2P lending can be somewhat insecure, but there is potential for a pretty good return on your investment. If youre interested you should take some time to educate yourself and ensure you understand all the particulars. Peer-to-Peer Lending 101 from Great Financial Cents is an excellent starting point. .
Real estate crowdfunding sites allow you to invest in real estate without all the headaches that usually go along with owning real estate. You dont have any of this work, you simply invest and take on some of the threat.
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This is a really popular investment since so many people want to invest in property but simply dont have enough time or desire to become a landlord. In addition, in many cases you can begin with a relatively modest investment.
REITs (Real Estate Investment Trust) provide 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 resorts. REITs make it possible to invest in property on a tiny scale, and to earn a share of their income generated. .
There are several different types 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 get started with real estate investing, REITs can be an excellent choice.
Obviously, another option for investing in real estate would be your good old fashion rental home. You could buy a condo, single-family residence or multi-unit home.
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Owning rental properties can be a great source of income, however if not it is truly passive will depend on a couple of aspects. Recommended Reading The more properties 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 which may be totally new to you. You can add authorized users to your credit cards (without really giving them a card or access to your account) and be paid to do it. Individuals who are looking to boost their credit score 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 generally involves putting yourself in danger for adding an authorized user that you dont know and trust. But the procedure only involves adding the consumer to a account, the card will be sent to your address and you can ruin it.
But, there's still some risk involved. The threat involves the possibility of your charge 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 details of the credit card companies, so that they can close your account if they know you're doing it. .
Its definitely not for everyone, but some people are making good money with hardly any effort. If you want to learn more I recommend reading this thread in Mr. Money Mustache for lots of details from a guy who is making a couple thousand dollars per month with this and its very passive. .
One of my favourite, easy ways to make money is through credit card bonuses. Many credit cards will provide 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 with a credit card, then hitting $500 in 3 months is easy. .
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Nowthis isnt something which you can perform all the time, but you can sign up to get a new credit card two a year, depending on your situation. Ive made hundreds of bucks each of the past 2 or 3 years with this approach.
Don't go overboard. Opening too many new credit accounts in a short period of time can hurt your ability to get credit when you need it.