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P2P lending can be a bit insecure, but there's potential for a fairly good return on your investment. If youre interested you should take some time to educate yourself and ensure that you understand all of the particulars. Peer-to-Peer Lending 101 from Good 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 threat.
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This is a really popular investment because so many men and women want to invest in real estate but dont have enough time or desire to be a landlord. Also, in many cases you can begin with a relatively small investment.
REITs (Real Estate Investment Trust) provide another means 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 real estate on a small scale, and also to earn a share of the income produced. .
There are several 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 get started with real estate investing, REITs can be an excellent choice.
Obviously, 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 great source of income, however if not it is truly passive will depend on a few factors. The more properties you own and the further tenants you manage, the more time you recommended you read 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 totally new to you. You can add authorized users to your credit cards (without really giving them a card or access to your account) and be paid to do it. People that are looking to boost their credit rating can get a increase in their score by simply piggybacking off of your payment history.
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If youve never heard of selling/renting tradelines before it likely sounds ridiculous and dangerous. The first concern usually involves putting yourself at risk for adding an authorized user which you dont know and hope. However, the procedure only involves adding the user to a account, the card will be sent to your address and you can destroy it.
But, there is still some risk involved. The threat involves the possibility of your credit card account being closed by the issuer, because in many cases this is going to be violating the conditions. Its not illegal, but it will violate the terms of the credit card companies, so that they can close your account if they know you're doing it. .
Its definitely not for everyone, but some people are making good money with hardly any effort. If you want to learn more I recommend reading this thread in Mr. Money Mustache for lots of details from a man who his response is making a couple thousand dollars per month with this and its very passive. .
One of my favourite, easy ways to make money is by way of credit card bonuses. Many credit cards will give 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 the majority of your purchases with a credit card, then hitting $500 in 3 months is simple. .
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Nowthis isnt something that you can do all 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 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.