Don’t have time to earn extra income? Passive income is not in your dictionary?
Well let me tell you, Now is the right time to change your mind.
Wouldn’t it be great if you could have flowing money deposited into your savings or checking account? You wouldn’t have to worry on where you will get the money to pay the rent or buy groceries for your family. Your worries will be gone if extra $500 or more is in your bank account right?
What if I tell you that there are several ways to earn extra or what is commonly known as passive income?
For the remaining scroll down that you’ll do, you will learn the 3 hottest passive income ideas that are present today!
1. Network Marketing
Network marketing is one of the hottest passive income streams out there. It follows the idea that you sell products to people who in turn sell to other people who sell to other people . . . and so on. Network marketing programs doesn’t need so much money for you to start. Usually a few hundred dollars or less is enough for the purchase of a product sample kit, which you use to sell directly to family, friends and other contacts.
Besides form selling, one major thing that distinguishes it is the sales rep recruits that becomes your downline. This downlines when able to sell products or recruit another person will generate the income for you. The most popular products in network marketing is health supplements and beauty aids, but you can go with everything from long-distance phone services to fine art prints.
When you join a network marketing company, you become part of a team. Team work is important in this type of business because basically you are building networks. You need to work with the people on your team in order to attain a common goal which is to earn passive income.
The advantages to this business are that start-up costs are minimal, hours are flexible, you can start part-time, and you can work from home. The only thing needed in this business is determination and sense of helping other people. I mean, I know your doing business to earn money but having other reasons like helping other people to learn about the business is an essential tool to inspire you to work more.
Your target market will be everybody. You can start with your family, relatives, friends, and co workers. Then eventually after you get used to with talking about the business with other people you can already start talking to people you don’t know. The key here is sincerity and willingness to guide them throughout the path.
2. Affiliate Marketing
In affiliate marketing, bloggers and website creators focus their energy on promoting certain products where they get a commission if a product or service gets sold. Usually it is done through niche sites or blogs. Of all the passive income streams, this one is my favorite because you don’t have to do anything at all when people click on your ads. Google Adsense, Amazon Affilaites, ClickBank, Flex Offers are just some of the dozens of affiliate broker services out there in the internet. They provide opportunity for you to pick from thousands of different products that coincides with your chosen niche.
For example, if you start a fitness website, you could become an affiliate of a heath and fitness company. You can earn hundreds or even thousands of dollars each month if your website receives a decent amount of web traffic and you have thousands of email subscribers. Dedication and time is the key to be successful as affiliate marketer. You need to build traffic via your website, email marketing and social media.
But of course you can’t sell or promote products if you don’t have a website. That’s not a problem! Because there are plenty of online training courses that you can join that will help you get started.
Check out the #1 affiliate marketing program that I recommend, and it is for FREE.
3. Real Estate
Have you played monopoly board game? If yes, Real estate business is the real life counterpart of the game.
Real Estate Business is the passive income stream that I dream about. It is because I am really fond of watching real estate reality shows. The major idea in here is you find a house, fix it, then sell it.
Compared to network marketing and affiliate marketing, this one needs capital in the form of cash or credit. You definitely need the money to attend housing auctions and bid on the house. After getting the house, You can hire a contractor to fix up the inside and the outside, have the house appraised, sell it and that’s the time you make profit.
Another type of real estate is Rental Property wherein you rent out a house/apartment that you own. People everywhere always needs a home to stay right? So, if you decide to do rental property you will be called a Landlord/Landlady. What’s good with this business is you not only collect monthly rent, but you can also use the rent to payoff the mortgage of the property that you own. Smart Idea, isn’t it?
Although this requires a lot of management to be successful, the payoff is way bigger compared to the income you receive when you work at an hourly rate.
Commercial building rental is also an excellent type of Real estate business.
For a Recap, Here are the 3 hottest passive income ideas that I recommend:
- Network Marketing
- Affiliate Marketing
- Real Estate
So right now, Here is the task that I want you to make:
Tasks to Do:
1. Choose 1 among the 3 passive income streams that I presented that you have interest on starting with
2. Spend 30 mins – 1 hr a day to research, read and understand the one that you have chosen
3. Read this article on how you can save money that you can use to start investing.