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P2P lending can be somewhat risky, but there's potential for a pretty good return on your investment. In case youre interested you should take some time to educate yourself and ensure that you understand all the details. Peer-to-Peer Lending 101 from Good Financial Cents is an excellent starting point. .
Real estate crowdfunding sites allow you to invest in property without all the headaches that usually go along with owning property. You dont have any of the work, you merely invest and take on a few of the threat.
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This is a really popular investment because so many men and women want to invest in property but simply dont have the 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 means to invest in property without the hassle of being a landlord. The REIT owns income-producing real estate such as 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 many different types of REITs. Some are publicly traded on a stock exchange, and a few are not. REITs may 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.
Of course, another option for investing in real estate is the good old fashion rental property. You could buy a condo, single-family home, or multi-unit property.
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Owning rental properties can be a fantastic source of income, however if not it is really passive will probably depend on a couple of factors. The more possessions you own and also the more tenants you manage, the more time 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's a potentially rewarding passive income source that could be totally new to you. You can add authorized users for your own credit cards (without really giving them a card or access to your account) and be paid to do it. Individuals who are looking to boost their credit rating can find a increase in their score by piggybacking off of your payment history.
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If youve never heard of selling/renting tradelines until it probably sounds ridiculous and dangerous. The first concern usually involves putting yourself at risk for adding an authorized user that 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.
But, there's still some risk involved. The threat involves the chance of your credit card account being closed by the issuer, because in many cases this is going to be violating the conditions. Its not illegal, but it does violate the terms of the credit card companies, so they may close your account if they know you're doing it. .
Its definitely not for everyone, but some 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 tons of details from a guy who is making a few thousand dollars per month with this and its very passive. .
One of my favorite, easy ways to earn money is through 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. As an instance, 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 Discover More Here in 3 months is easy. .
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Nowthis isnt something which you can perform all of the time, however you can sign up to get a new credit card two a year, depending on your situation. Ive made hundreds of dollars each of the previous two or three years using this approach.
Don't go overboard. Opening too many new credit accounts in a short period of time can damage your ability to get credit when you need it.