4 Ways to Earn Passive Income

4 Ways to Earn Passive Income


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I suspect a lot of people in Chicago dream of scrapping their 9-5 job and working entirely for themselves. That’s why there’s been a growing trend to earn passive income. Maybe, it’s an oil royalty or rent check that comes in the mail monthly. Passive income may be considered income without direct effort on your part. Now more than ever, people are finding ways to make ends meet without having to punch a clock. Is this is your dream and you’re ready to make it a reality? Read what Sean Tarpenning at Bigger Pockets says about 4 ways to earn passive income.

4 Ways to Earn Passive Income

  1. Affiliate marketing is one of 4 ways to earn passive income – If you already have a website or blog that gets steady traffic, include a third party’s link on your website. It can add a little (or a lot) of money to your bank account. When one of your site’s visitors clicks on the other party’s link and makes a purchase, you get a commission. Don’t make the mistake of thinking this is 100% easy money, though. Your site needs to be pulling in plenty of traffic. You need to be creating regular content that will drive your visitors to click on those links.
  2. The second way of the 4 ways to earn passive income is through Peer-to-peer lending – P2P loans have changed the lending game. Using an established lending site, investors seeking to boost their income can connect with borrowers. They circumvent the traditional bank-based loan process and the investor provides the funding. The loan carries a fixed interest rate from 5 to 12 percent, much better than banks pay savers.
  3. Become a YouTuber is the third of 4 ways to earn passive income – Got a special talent or skill that you think others would be interested in watching? A way to earn passive income is to start a YouTube channel. With your own channel, you can do something you love.  Your talent may be cooking, gaming, or providing tutorials on something you’re good at.  As you share, you can generate some side cash from Google AdSense. I met a man who turned his love of fine wine into a real money maker for him on YouTube.

My favorite way to earn passive income is number 4:

4. Invest in Rental property is the fourth of 4 ways to earn passive income – My favorite way to earn passive income! Property investment is one of the oldest methods for creating side (or sole) income. While it can’t always be described as passive.  Let’s be honest, owning property can be a lot of work at times, but it’s an excellent strategy for building your wealth and eliminating the need for other forms of income. There are lots of strategies for building passive income from real estate. One that caught my attention recently is BRRRR – Buy, Rehab, Rent, Refinance, and Repeat. Fortunes have been built this way.

Kelbry Properties is Lake County’s and Mchenry County’s premier real estate solutions company.

Since our inception, we have been helping homeowners along with improving communities in each and every city we work in.

One of us will do a walk-through of your house. We will note any deficiencies, deferred maintenance issues, and improvements we need to make.  The renovated house should appeal to today’s home buyers. We will make a cash offer for your house. You are under no obligation. With our offer, there are no fees, no commissions and we will buy your house as-is. We can close in less than 30 days.

We not only purchase property but we also sell our homes directly to buyers, many of which are completely renovated and in move-in condition. Whether you are dreaming of becoming a first time home buyer or looking to upgrade your current home, we can help.  If we don’t have a home to sell directly to you, we can connect you with a licensed agent who can help you find your dream home!

Call us today at 224-321-5300

 

 

This image was found on canva.com 

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