Whether you’re looking for a reliable source of cash or you want to earn income while you sleep, there are a number of ways to make passive income. Depending on your interest and skills, you can create a variety of passive income streams that can be tailored to suit your unique needs.
How do Dummies make passive income?
One of the most popular Go X – ways to make passive income strategies is to start a rental property. You can rent out a single unit, or you can purchase a whole duplex or multi-unit building. In general, the higher the ROI (return on investment), the more cash flow you’ll see.
If you have knowledge of programming, creating software as a service is another potentially lucrative option. You can put your app on the Google Play store or the App Store, and then you’ll be paid for each download. However, this can be a very time-consuming method of earning money.
If you’re a photographer, you can sell your work on a print-on-demand website. This way, you don’t have to worry about inventory or shipping, and you can sell your digital products as many times as you’d like.
Similarly, if you have a blog, you can earn money by promoting your content. You can do this with services such as Dribble or ProBlogger. You can also earn money by placing affiliate links or earning merch through other platforms.
Another type of passive income is to start a YouTube channel. It’s free to get started, but it’s important to build a strong audience and promote your videos.