Make money while you sleep; how amazing does this phrase sound, right? Another name for making money while you sleep is passive income.
In order to achieve financial freedom and worry-free life, there is no alternative to passive income. That’s why there is 18 passive income that paid you forever $300/day.
In this article, we have shared 18 passive income ideas that have the full potential to make you up to $300/day.
So, let’s dive in.
18 Passive Income That Paid You Forever: That Pays Up To $300/Day
Also, most people think, to build a passive income stream, you need a lot of money upfront. Just to break this myth, we have divided these 18 passive income ideas into different sectors like-
- Passive income ideas that require less or no investment
- Passive income ideas that require investment
- passive income ideas through providing rental service
Excited to know more about these ideas?
If you are, then without further ado, jump into the following list below-
Passive Income Ideas That Require Less Or No Investment
In this section, all these passive income ideas do not focus on investment. Instead of investment, all these ideas are based on skillset and consistency.
If you think you can’t invest means you can’t create a passive income stream, then this section will prove you wrong.
Create A Passive Income Stream By Selling
Well, there are a lot of ways that you can earn some money, and the very first one is selling something online! with that, you will have the ultimate satisfaction of creating something amazing and providing it to people. Let’s see how this online selling can not only make you rich but also help people to find a way in the dawn!
Selling eBook
eBook selling is something that can make anyone a fortune if the reader likes it. If you can write well and have some experience, you can consider writing an eBook on your niche or favorite topic.
Creating an eBook requires no investment of money. Instead, it requires time and effort unless you hire someone to write, design, and edit for you. Still, it will not cost you much.
Creating and selling an eBook can make you up to $300/day in passive if you can write it and market it correctly. So, what are you waiting for? Make an eBook, and start selling today!
Selling Courses
If you have expertise in any topic or skill set, you can create a course on it and teach others and earn through it.
As you are selling it online, don’t bother to create a course by thinking you don’t know any technical topic. From cooking to coding, you can create a course on anything. Also, you can set your preferred price as well.
In the beginning, making a course requires time and effort; once you complete the course after that, you can upload new content to keep up the course quality on a weekly/monthly basis.
About passive income? If you market it correctly to the right audience, you will get paid for it whenever you enroll in your course.
Udemy, Teachable, and many other platforms are available for selling courses.
Selling Stock Photos
Do you love to capture photos? If yes, then you can turn it into a money-making opportunity. How? You sell them online.
Whenever someone purchases or downloads your photos, you will receive a royalty from the site you are using for selling your photos.
You can sell your captured stock photos on platforms like Shutterstock, Adobe Stock, and others. Also, you can use your portfolio website too.
Selling Online Without Inventory- Dropshipping.
Well, more or less, we all know about dropshipping. It’s a product-based business model that doesn’t require you to keep the product in stock or manage inventory.
To establish a dropshipping business, you need to find a high-demanding product and an excellent dropshipping friendly supplier.
Now, you can focus on marketing and once you receive an order, let your supplier know about it, and they will deliver it to your customers’ address.
Undoubtedly, doing a dropshipping business takes time and effort initially. Still, with time, there will be significantly less workload, and you will be able to create a passive income stream with dropshipping.
Create a Passive Income Stream With More Time and Effort Investment Than Money
Well, there is some work that can make you rich and earn real cash, even when you are sleeping! yeah! That’s right! These are the most amazing things about passive income. These incomes are not that hard if you are on the right track! Plus, these are some Passive Income That Paid You Forever let’s jump right into it!
Affiliate Marketing
Affiliate marketing is one of the most productive ways to make money online. If you already have a blog or establish social media platform or YouTube channel, and when you recommend your niche-based products with referral links there, you will see the money coming within a few days.
In the world of affiliate marketing, you can promote anything and earn through it. Depends on the niche and product you are promoting; you can make thousands of bucks from here easily.
It is not just an assumption; there are so many marketers available who are making hundreds of thousands of dollars every month from affiliate marketing only.
If you are willing to learn and do hard work consistently, consider affiliate marketing as an option.
Blogging
A blog is a great way to make passive income. If you already have a blog and have good traffic, you can make money in many possible ways.
The most famous way is Google AdSense; here, you will make money by showing relevant advertisements on your blog.
The payout depends on the traffic that clicks and views the advertisements. Slowly but steadily, the number of visitors to your blog will increase, and this way, your income will increase too.
With your blog, you can also make money through affiliate marketing, sponsored post, course selling, eBook and POD selling, and so on.
Social Media Influencer
Do you have a large fanbase on social media? If yes, you should not leave the opportunity to make money through social media only by post.
A social media influencer can make passive income in several ways. Here are the three best possible ways-
- Affiliate marketing: Post a product picture or a small video with your affiliate, aka referral links on it, and make money once someone purchases from your link.
- Sponsored post: When a company approaches you to post their product or services video on your social media profiles, and you will make money for it, it’s a sponsored post. In this case, the payout depends on the post view or the number of your follower base.
- Selling your product: As you already have a fanbase, if you sell something that can help your follower base, then you can make some bucks from here too.
So, these are the ways to make money as a social media influencer.
POD-Print On Demand
Print on Demand, aka POD, can help graphic designers and artists to create a passive income stream. This is a lucrative way to generate passive income online. Whenever someone buys something with your design, you will receive a royalty.
It’s one of the best ways to make money passively. Some platforms like Teespring, Redbubble, Merch by Amazon are available where you can make money by POD.
Build an App
Nowadays, building an app and earning through it isn’t a tough job. You can create an app based on your preferred topic and sell it online. How?
You have to build an app and upload it to App Store or on Google Play Store. You can now sell those apps on these platforms or monetize the app to make money when a user uses your app and sees an advertisement.
You might be thinking, and you don’t know how to code, how can you develop an app. Well, there are many platforms available where you can build an app without knowing how to code.
Passive Income Ideas That Require Investment
All these ideas below require investment. From small to big, if you invest after understanding all the risk factors, you will create a passive income stream.
Invest In A High Yield Savings Account
If you want to invest and play risk-free while making less profit (sometimes, significantly less), you can invest in a high yield savings account. Well, it is relatively risk-free but does not provide a higher profit for your money.
So, for those who want to keep their money safe while making a few dollars, investing in a high yield savings account is perfect for them. Through its passive income but very low!
Invest In Real Estates
Investing in real estate and then renting them is a traditional business model that can make you money from your couch.
So, if you have enough to invest in real estate, then getting a house that you can give on rent is an excellent way to make a passive income stream for you.
To get a property within your budget, we recommend you see platforms like Roofstock, where you will find houses within a tight to high budget.
Invest in REITs
Real estate investment trusts, aka REITs, are among the best ways to invest in real estate if you don’t have enough money.
Also, as we all know, investing in real estate requires investment and expertise both simultaneously. Also, the hassle of maintenance is there too.
With platforms like Fundrise specializing in REITS, you can still invest here and forget all the hassles and receive profit on your invested amount.
Our recommended platforms are-
Fundrise– requires a minimum investment of $500.
RealtyMogul– invests in big projects while it still requires minimum investments of $5000.
So, now you can also invest in real estate through REITS.
Invest In Bonds
Investing in bonds is something that millionaire does. Where other bands are quite expensive, there is a bond available where you can invest as low as $10 and earn 5% interest on it.
We are talking about worthy bonds. The maturity program takes three years while offering 5% flat interest without any additional fees, but you can cash it out any time.
Invest In Rental Properties
Investing in rental properties can be a legit way to make money passively. Now, it’s not required that it has to be real-estate. You can invest in anything that you can give on rent and earn through it.
Where can you invest? See, you can invest in a car and handover it to Turo and make money passively, or you can invest in other opportunities too.
So, whatever it is, just invest and give it on rent and enjoy the passive income.
Invest In Cryptocurrency
This is not a traditional way to generate passive income, but nowadays, it is high and provides good returns.
For example, from the 2020’s January to 2021’s January, the price of Bitcoin has increased more than 4x. So, you can try your luck here too.
However, calculating risk with cryptocurrencies are uncertain. So, do it at your own risk.
Coinbase is one of the best platforms when it comes to investing in cryptocurrency.
Passive Income Ideas Through Providing Rental Service
In order to make a passive income stream without working or investing, here are some ways you can follow to make money by renting out things you already have. Here is the following list-
Rent Out Your Extra Space
Do you have extra space that you do not use? It can be a room or a basement, or garage, or parking space, and so on. No matter what it is, if you have space, you can always give it on rent.
For rooms– If you have a room that you are not using, you can clean it, do some renovations, and enlist on Airbnb. Now whenever someone books your place, you will make some bucks.
For basement, garage, driveway, and closet– If you have a basement, a garage, a driveaway, or a closet to give on rent, then Neighbor is the best platform to make some bucks for real. You can give any of it on rent to make money passively.
For Parking Space: If you want to give your parking space on rent, you can use Stow it or JustPark.
For backyard: Have an empty and clean backyard? Enlist it on Homecamper and earn money passively by giving your backyard on rent.
Rent out your things
If you think you can only make it by giving your car, house on rent, then you are wrong. With the help of platforms like Fatllama, you can rent out anything you want. Yes, that’s why Fatllama is known as the Airbnb for your stuff.
From camera to transports, you can rent anything on Fatllama.
Rent Out Your Car
Do you have a (or more) unused cars standing in your parking space? If yes, then you can turn this wastage into a passive income stream. How?
Just subscribe your car to any car rental service like Turo or Getaround, where you can give your car for rent at your preferred price.
Also, when your car is for rent, you can rent out your parking place for rent too. Two passive income streams, in a nutshell.
Conclusion
So, here are the 18 passive income that paid you forever $300/day. We believe you have found an idea that can help you to build a passive income stream.
Building a passive income stream can help you to get out of the trap where you sell your time and effort for money.
Instead, start building a passive income stream today to enjoy your life and to be financially independent; there’s no alternative to it.