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P2P lending can be somewhat risky, but there is potential for a pretty good return on your investment. In case youre interested you should take the time to educate yourself and ensure that you understand all of the details. Peer-to-Peer Lending 101 from Good Financial Cents is an excellent starting point. .
Real estate crowdfunding websites enable you to invest in property without all of the headaches that usually go along with owning real estate. You dont have any of the work, you simply invest and take on some of the threat.
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This is a really popular investment since so many people want to invest in real estate but dont have enough time or desire to be a landlord. In addition, in many instances you can get started with a relatively modest investment.
REITs (Real Estate Investment Trust) provide another means to invest in property without the hassle of being a landlord. The REIT owns income-producing property such as office buildings, apartment complexes, shopping malls, or resorts. REITs make it feasible to invest in real estate on a small scale, and also to earn a share of their income produced. .
There are many different kinds of REITs. Some are publicly traded on a stock exchange, and a few are not. REITs may also be in the kind 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.
Of course, another option for investing in real estate would be your good old fashion rental property. You can purchase a condo, single-family residence or multi-unit home.
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Owning rental properties can be a fantastic source of income, but if not it is truly passive will depend on a couple of factors. The more properties you own and the more tenants you manage, the longer you will need to put into it. If you want it to be a passive investment the best option is to hire a property manager. .
Here's a potentially lucrative passive income source which may be totally new to you. You can add authorized users for your own credit cards (without actually giving them a card or access for your account) and be paid to do it. People that are looking to boost their credit rating can find a boost in their score by simply piggybacking off of your payment history.
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If youve never heard of selling/renting tradelines before it likely sounds ridiculous and dangerous. The first concern usually involves putting yourself in danger for adding an authorized user which you dont know and trust. However, the procedure only involves adding the consumer to a account, the card will be sent to your address and you can destroy it.
However, there is still some risk involved. The risk involves the possibility of your you could look here credit card account being closed by the issuer, because in many situations this is going to be violating the terms. Its not illegal, but it does violate the terms of the credit card companies, so that they may close your account if they know you're doing it. .
Its definitely not for everyone, but some people are making excellent money with very little work. If you want to learn more I recommend reading this thread at Mr. Money Mustache for tons of details from a man who's making a couple thousand dollars per month with this and its very passive. .
One of my favorite, easy ways to earn money is by way of credit card bonuses. Many credit cards will give you a bonus just for signing up and for making a minimum amount of purchases on the card during an introductory period. For example, right now Chase is offering a $150 bonus if check that 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, hitting $500 in 3 months is easy. .
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Nowthis isnt something that you can do all the time, but you can sign up for a new credit card two a year, depending on your situation. Ive made hundreds of bucks each of the past two or three years using this approach.
Don't go overboard. Opening too many new credit accounts in a short time period can damage your ability to get credit when you need it.