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P2P lending can be somewhat risky, but there is potential for a pretty good return on your investment. In case youre interested you should take the opportunity to educate yourself and make sure you understand all of the particulars. Peer-to-Peer Lending 101 from Great Financial Cents is an excellent starting point. .
Real estate crowdfunding sites enable you to invest in property without all the headaches that typically go along with owning real estate. You dont have any of this job, you simply invest and take on some of the risk.
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This is a very popular investment because so many people want to invest in real estate but dont have the time or want to be a landlord. Also, in many instances you can begin with a relatively small investment.
REITs (Real Estate Investment Trust) offer another means to invest in property without the hassle of being a landlord. The REIT owns income-producing property such as office buildings, apartment complexes, shopping malls, or hotels. REITs make it feasible to invest in real estate on a tiny scale, and also to earn a share of their income generated. .
There are many 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 start with real estate investing, REITs can be an excellent choice.
Of course, another option for investing in real estate would be your good old fashion rental home. You can purchase a condo, single-family residence , or multi-unit property.
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Owning rental properties can be a fantastic source of income, however whether or not it is really passive will depend on a couple of factors. The more properties you own and the further tenants you manage, the longer 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 lucrative passive income source which may be completely new to you. You can add authorized users for your credit cards (without actually giving them a card or access to your account) and be paid to do it. Individuals that are looking to boost their credit score can find a boost in their score by simply piggybacking off of your payment history.
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If youve never heard of selling/renting tradelines until it likely sounds ridiculous and dangerous. The first concern usually involves putting yourself in danger for adding an authorized user which you dont know and hope. However, the procedure only involves adding the consumer to your account, the card will be sent to your address and you can destroy it.
However, there is still some risk involved. The risk involves the chance of your charge card account being closed by the issuer, because in many cases this will be violating the terms. Its not illegal, but it does violate the details of the credit card companies, so that they may close your account if they know you are doing it. .
Its definitely not for everyone, but some folks are making excellent 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's making a few thousand dollars per month with this and its quite passive. .
One of my favourite, simple ways to earn money is by way of 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 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 first 90 days. If youre like me and you make most of your purchases with a credit card, then hitting $500 in 3 months is easy. . anchor
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Now, this isnt something that you can do all of the time, however you can sign up for a new credit card 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 short period of time can damage your ability to get credit when you need it.