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P2P lending can be a bit insecure, but there is potential for a pretty good return on your investment. If youre interested you should take the time to educate yourself and make sure that you understand all of the particulars. Peer-to-Peer Lending 101 from Great Financial Cents is an excellent starting point. .
Real estate crowdfunding sites enable you to invest in real estate without all the headaches that usually go along with owning real estate. You dont have any of the job, you merely invest and take on a few of the threat.
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This is a very common investment because so many people want to invest in real estate but simply dont have enough time or desire to become a landlord. Also, in many instances you can get started with a rather small investment.
REITs (Real Estate Investment Trust) offer another way to invest in property 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 kinds of REITs. Some are publicly traded on a stock exchange, and a few are not. REITs might also be in the form of mutual funds or ETFs.
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If youre looking for an easy way to start with real estate investing, REITs can be an excellent choice.
Obviously, another option for investing in real estate would be the excellent old fashion rental home. You could buy a condo, single-family residence , or multi-unit home.
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Owning rental properties can be a fantastic source of income, but whether or not it is really passive will depend on a few factors. The more properties you own and the more tenants you manage, the longer you'll need to put into it. If you want it to be a passive investment that the best option is to hire a property manager. .
Here is a potentially lucrative passive income source that may be completely new to you. You can add authorized users for your credit cards (without really giving them a card or access for your account) and be paid to do it. Individuals that are looking to improve their credit score can get a increase in their score by simply piggybacking from your payment history.
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If youve never heard of selling/renting tradelines until it likely sounds absurd and dangerous. The first concern generally involves putting yourself in danger for adding an authorized user which you dont know and hope. However, the procedure only involves adding the consumer to your account, the card will be sent to your own address and you can ruin it.
However, there is still some risk involved. The threat involves the chance of your charge card account being shut by the issuer, because in many situations this is going to be violating the conditions. Its not illegal, however it does violate the details of the charge card companies, so that they can close your account if they know you're doing it. .
Its definitely not for everyone, but a few folks are making excellent money with very little effort. If you want to learn more I recommend reading this thread in Mr. Money Mustache for lots of details from a guy who is making a couple thousand dollars per month with this and its very passive. .
One of my favourite, simple ways to make money is through credit card bonuses. Many credit cards will provide you a bonus just for signing up and for making a minimum amount of purchases on the web link card during an introductory period. As an 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 most of your purchases using a credit card, then hitting $500 in 3 months is easy. .
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Nowthis isnt something which you can perform all of the time, but you can sign up for a new credit card or two a year, depending on your situation. Ive made hundreds of dollars all the previous 2 or 3 years using this approach.
Don't go overboard. Opening too many new credit accounts in a brief period of time can damage your ability to get credit when you need it.