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P2P lending can be somewhat risky, but there's potential for a pretty good return on your investment. In case youre interested you should take the time to educate yourself and make sure that you understand all of the details. Peer-to-Peer Lending 101 from Great Financial Cents is an excellent starting point. .
Real estate crowdfunding sites allow you to invest in property without all the headaches that usually go along with owning property. You dont have any of the work, you simply invest and take on a few of the risk.
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This is a very common investment because so many people want to invest in real estate but simply dont have enough time or want to be a landlord. In addition, in many instances you can begin with a rather small investment.
REITs (Real Estate Investment Trust) provide another way to invest in real estate without the hassle of being a landlord. The REIT owns income-producing property like office buildings, apartment complexes, shopping malls, or resorts. REITs make it feasible to invest in property on a tiny scale, and also 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 might also be in the form 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 is your good old fashion rental home. You could buy a condo, single-family home, or multi-unit property.
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Owning rental properties can be a fantastic source of income, but whether or not it is truly passive will probably depend on a couple of aspects. The more possessions you own and also the further tenants you manage, the more time you will need to put into it. If you want it to be a passive investment the best option is to hire a property manager. .
Here's a potentially lucrative passive income source that may be completely new to you. You can add authorized users for your credit cards (without really giving them a card or access for your account) and be paid to do it. Individuals who are looking to improve their credit score can get a boost in their score by simply piggybacking from 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 generally involves putting yourself in danger for adding an authorized user that you dont know and hope. However, the process only involves adding the user to a account, the card will be sent to your own address and you can ruin it.
But, there's still some danger involved. The risk involves the possibility of your credit card account being shut by the issuer, because in most cases this will be violating the terms. Its not illegal, but it will violate the terms of the charge card companies, so that they may close your account if they know you are doing it. .
Its definitely not for everyone, but a few people are making good money with very little work. If you want to learn more I recommend reading this thread at Mr. Money Mustache for tons of details from a guy who's making a couple thousand dollars my blog per month with this and its quite passive. .
One of my favourite, easy ways to earn money is by way of credit card bonuses. Many credit cards can provide you a bonus just for signing up and for making a minimum amount of purchases on the card during an introductory period. For 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 most of your purchases using a credit card, hitting $500 in 3 months is simple. .
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Now, this isnt something that you can perform all of the time, but you can sign up for a new credit card two a year, depending on your situation. Ive made hundreds of bucks each of the past 2 or 3 years using this approach.
Don't go overboard. Opening too many new credit accounts in a brief period of time can damage your ability to get credit when you need it.