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P2P lending can be a bit risky, but there's potential for a pretty good return on your investment. If youre interested you should take some opportunity to educate yourself and ensure you understand all the details. Peer-to-Peer Lending 101 from Great Financial Cents is an excellent starting point. .
Real estate crowdfunding websites allow you to invest in property without all the headaches that usually go along with owning property. You dont have any of this job, you simply invest and take on some of the threat.
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This is a really common investment since so many men and women want to invest in property but dont have enough time or want to be a landlord. In addition, in many instances you can get started with a relatively modest investment.
REITs (Real Estate Investment Trust) offer another way to invest in real estate without the hassle of being a landlord. The REIT owns income-producing real estate like office buildings, apartment complexes, shopping malls, or hotels. REITs make it feasible to invest in property on a small scale, and to earn a share of the income produced. .
There are many different kinds of REITs. Some are publicly traded on a stock exchange, and a few are not. REITs may also be in the form of mutual funds or ETFs.
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If youre looking for an easy way to start with real estate investing, REITs can be an excellent option.
Obviously, another option for investing in real estate would be your good old fashion rental property. You could buy a condo, single-family homeor multi-unit property.
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Owning rental properties can be a fantastic source of income, however whether or not it is truly passive will probably depend on a few aspects. The more properties you own and the more tenants you manage, the more go right here time you'll need to put into it. If you want it to be a passive investment the best option is to hire a property manager. .
Here is a potentially rewarding passive income source that could be completely new to you. You can add authorized users for your own credit cards (without really giving them a card or access to your account) and be paid to do it. People that are looking to improve their credit rating can find a increase in their score by piggybacking off of your payment history.
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If youve never heard of selling/renting tradelines before it likely sounds absurd and dangerous. The first concern usually involves putting yourself in danger for adding an authorized user which you dont know and hope. However, the process only involves adding the consumer to your account, the card will be sent to your address and you can ruin it.
But, there is still some danger involved. The risk involves the possibility of your charge card account being closed by the issuer, because in most cases this will be violating the conditions. Its not illegal, however it does violate the terms of the charge card companies, so that they can close your account if they know you are doing it. .
Its definitely not for everyone, but some people are making good money with hardly any work. If you want to learn more I recommend reading this thread in Mr. Money Mustache for tons of details from a man who is making a few thousand dollars per month with this and its very passive. .
One of my favourite, easy ways to earn money is through credit card bonuses. Many credit cards can give you a bonus just for signing up and for making a minimum amount of purchases on the card during an introductory period. For instance, 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 official source first 90 days. If youre like me and you make the majority of your purchases using a credit card, hitting $500 in 3 months is simple. .
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Nowthis isnt something that you can do all of the time, but you can sign up to get a new credit card or two a year, depending on your situation. Ive made hundreds of bucks each of the previous 2 or 3 years using this approach.
Don't go overboard. Opening too many new credit accounts in a brief time period can damage your ability to get credit when you need it.