Do you want to make money while you sleep? If that concept sounds incredible to you, it might be time to learn a little bit more about passive income. Putting in work up front to set up systems for money to come in, you can rest easy, sit back and enjoy as income continues to accumulate days, weeks and months later. Sound too good to be true? Read on to find out a few different ways to earn money passively or semi-passively.
Kindle Publishing
If you like to write or always wanted to be a published author, this method may be perfect for you. Through Amazon, you can easily publish a short or long book written by you and immediately for sale to the public. Sign up for the Kindle publishing program, write a book or pay someone to write one for you and get started on the formatting. The process of formatting is simple and you can do it yourself or hire someone to edit the work, create a cover and place important keywords to help the book be found. The more proactive you are about marketing, the better so that the book can be found by more buyers.
Rental Properties
If you have enough money upfront to invest in a rental property, it can make a fantastic source of semi-passive income. Whether it's an apartment, condo or a full sized house, you can fix it up, hire staff to help you get it sold and even hire a property manager to take care of the entire process if you aren't physically available. Whatever you buy, make sure that you keep it in tip top shape with functioning garage doors, appliances that work, and someone available to help the tenants when they need something. It's not as passive as other methods but will keep a steady flow of money coming in each month to pay off the mortgage and put some money in your pocket as well.
Drop-shipping
This method of passive income essentially puts you as the middle man between people ordering things from a website and the company shipping the items to them. By running a site and keeping track of the orders and customer complaints, you can do very minimal work and receive a whole lot of financial benefits. Send the orders to the manufacturers so that they can actually deliver them to the customer without you having to touch the product or packaging at all. Eventually, you can outsource many of your tasks to others so that you are doing little to no work and bringing in a pretty heavy passive income.
Affiliate Marketing
This online marketing allows you to work from your computer while earning a living. Essentially, you sign up for programs that allow you to earn a percentage for recommending their product or services to others. If someone buys something through one of your affiliated links, you will earn some income. The key is to set up some sort of platform like a blog or a website in order to host your links. The even bigger part of success with this is to market your links effectively so that more people will click and buy, earning you plenty of cash even while you sleep.
If you've always dreamed of working for yourself, having financial freedom and living anywhere in the world, take a deeper look into some of these tried and tested options.