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P2P lending can be a bit risky, but there is potential for a fairly good return on your investment. If youre interested you should take some time 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 enable you to invest in real estate without all the headaches that typically go along with owning property. You dont have any of this job, you merely 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 want to be a landlord. Also, in many instances you can begin with a relatively modest investment.
REITs (Real Estate Investment Trust) offer 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 hotels. REITs make it feasible to invest in real estate on a tiny scale, and to earn a share of the income produced. .
There are several 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 choice.
Obviously, another option for investing in real estate is your good old fashion rental property. You can buy a condo, single-family home, or multi-unit property.
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Owning rental properties can be a great source of income, but whether or not it is really 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 could be completely new to you. You can add authorized users for your credit cards (without actually giving them a card or access for your account) and be paid to do it. People who are looking to boost their credit score can get a increase in their score by piggybacking from 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 Read More Here 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 destroy it.
But, there's still some risk involved. The threat involves the possibility of your charge card account being shut by the issuer, because in most situations this will be violating the terms. Its not illegal, however it does violate the details of the credit card companies, so that they can close your account if they know you are doing it. .
Its definitely not for everyone, but a few people are making excellent money with hardly any effort. If you want to learn more I recommend reading this thread in Mr. Money Mustache for lots of information from a guy who's making a few thousand dollars per month with this and its quite passive. .
One of my favorite, 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. 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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Now, this isnt something which you can perform all the time, however you can sign up for a new credit card or two a year, depending on your situation. Ive made hundreds of bucks each of the previous two or three 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.