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Economy
5 ways I'm earning thousands in passive income every year without owning a rental property
2020-11-13
[Business Insider] After getting laid off from my full-time job in 2015, I decided I'd do whatever it took to be my own boss. While that meant growing my side hustle into a business and taking on more freelance gigs, it also meant finding ways to make passive income every single month.

At the time, and even now, the idea of owning a rental property was out of the question, though it was one of the top ways I'd heard of to earn passive income. I didn't have the cash to invest in buying a home, and I didn't have the time to manage a rental property. I knew I had to find other ways to make the idea of passive income come true.

The thing about passive income is that it fluctuates. Some months I make more money in passive income than I do from my business or freelance jobs. Other months, I hardly make enough to cover my grocery bills. Because of that, passive income has to be just one of the many ways I make money every month.

Over the years, I've found a handful of ways to bring in anywhere from a few hundred dollars to over $1,000 in passive income every month. Here are the five ways I'm doing that.
Posted by:Besoeker

#11  ...and I didn't have the time to manage a rental property.

Clearly insufficient research was done here - unless you have the proverbial 'contractor's special' as your property, it takes little more than collecting rent checks and tending to repairs, cutting the grass and snow removal.
Posted by: Raj   2020-11-13 19:00  

#10  At the time, and even now, the idea of owning a rental property was out of the question, though it was one of the top ways I'd heard of to earn passive income.

What TW said, so I just had to see how to make this magic money. I got real excited when I saw the author's picture.

She says five steps, but its really 2 and an advertisement - investments and lifestyle coach revenues.

Maybe what the kids consider passive income and what I do differ. Last I went shopping, a decent rate started at 5 years. During that time that money would be unavailable without a penalty so bad it doesn't even include a coupon for lube. Stocks, well, they are not only a long term investment usually, but can be an active loss. Unless you are throwing darts at the WSJ pages there should be good time spent researching the company (this is on your own 'sweat equity' not hiring a broker or investment counselor).

As for money from lifestyle coach, good luck with that. It is easy to laugh, but I understand this is a highly competitive, over saturated market. Money is made from advertising and endorsements, or like kitty here, royalties on item sales or purchasing lessons. It is an absolute hustle, not only staying interesting and relevant in your field but there are also x number people vying for that attention in a finite market.

Then here come the e-mobs, willing to burn down your e-store without consequence, your e-store which took however long to cultivate, gets burned.

This gal, and I'm not endorsing just recognizing, by getting an article in a name publication is more successful than 99% of those in the market. Taken hundreds of hours is sounds like, likely thousands. And some Twitter Mob NPC, down on xer quota of destroyed lives this month, comes across this article and decides to attack. The NPC summons a hoard and attack her as racist, as a traitor to women by endorsing the patriarchal "Wall Street". Probably hates panda bear cubs too.

Business torched.
Posted by: swksvolFF   2020-11-13 15:53  

#9  For a $15K interest over 5-years, even at the 'absurdly high' 1.6% rate, would require a serious initial cash base (north of $850K with quick reckoning). And she didn't have enough money to invest in property.

Agree with EC, 'Yeah, right'.

Our youngest (37) has fixed and flipped two houses in the last 5 years, made a heck of a lot more than $15K (~x10), and only had about $55K un-allocated cash to start with. As TW says, 'sweat equity' is great for those who actually have the skills (and actually want to work).
Posted by: Mullah Richard   2020-11-13 11:50  

#8  But his key idea is that everyone should write books and online courses like he did, because the market for that isn’t already flooded with horrible examples of both.
Posted by: trailing wife   2020-11-13 10:33  

#7  Rental property is not passive income— Mr. Wife and I had some properties, back when regularly working together until midnight looked like fun. Unless one hires a property manager, at which point the cost of paying the property manager offsets the profits, leaving only depreciation offsetting other taxable income.

Sweat equity is a wonderful way for hard working youngsters with few assets to grow their nest egg quickly, though, if they have the skills.
Posted by: trailing wife   2020-11-13 10:28  

#6  1) "I moved my cash from a savings account that had a 0.01% interest rate to one that offered 1.6% (though it has since fallen). In five years, my fiancé and I earned about $15,000 in interest combined on our high-yield savings accounts.

2) I didn't have the cash to invest in buying a home

Yeah right
Posted by: European Conservative   2020-11-13 09:33  

#5  Serf City
Posted by: Crerong Angese9077   2020-11-13 08:41  

#4  I'll take "Digital Currency for $300, Alex".
Posted by: Clem   2020-11-13 08:33  

#3  Not so hidden message.... don't own property, turn your last remaining assets over to banks, Amazon, and the stock market.
Posted by: Besoeker   2020-11-13 08:31  

#2  Hunter Biden is a master at this, no?
Posted by: AlanC   2020-11-13 08:24  

#1  We also saved a lot on vet bills and hay after we ate the horses.
Posted by: Besoeker   2020-11-13 08:15  

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