There are two types of income that you can earn in this weird world. One is an active income and the other is passive income. Many people are not aware of this type just because of maybe a lack of knowledge, lack of the urge to start, or even there may have started but there don’t know there have already started the journey.
In this article, I am going to show you some of the ways people are making passive income from wherever there are. Making passive income is of the way many people are dreaming of just because of the flexibility with this type of earning.
Earning passive income makes one earn from whichever place he is maybe you are taking a sip of Guinness with your friend, you are on the swimming pool, you are attending a wedding, on a meeting, or even on the shamba, etc,
this type of income makes you earn at any time of the day even if you are not involved directly into it.
On the hand an active income is where you must be involved for you to earn and if you stop working you will not be able to earn.
Most of this passive income ideas require you to put much effort when you are starting and somealso require little or no capital involved for you to start. It takes time and patience to just make a dollar from this streams of income
1.Managing rental properties
This is one of the most common way people/ investors are diving much into it recently especially in kenya. To have your rental property now you need some capital in order to construct the rentals and maybe buy a land if you dont have one.
This is one of the income idea that is much profitable and will continue to be much profitable considering the world population is continueing to grow which is estimated by 2050 the world might reach 10 billion people.
This also open more opportunities to careers in construction as more people will require to construct buildings skyscrapper as also the land continue to decline hahahah.More opportunities grows for engineers,Architects, quantity surveyors etc.
Rentals is a great opportunity for you if you have enough capital to get started in but you some good capital because once the building is up it up and it will never lack the clients to rent.
This one way to make some revenue passively from wherever you are ,doing whatever thing you might be doing and also you can raise or reduce the rent how you want it or just due to demand.
2.buying and selling of land
This is also great way to earn passively,although buying and selling of land takes years this can be a great venture for you if you have enough money.Land is a physical want and it appretiate day and night without any control.
So if you have some money just sleeping in the bank dont wait anymore just buy a land somewhere.
Some of the things to consider when buying and that affect land always is location location location. Of all factors that affect land location is the main factor that affects land .
When buying land consinder the places in afew years the place will have grown to like a town center, this is the best place you can buy and wait for a year or according to your needs or goals.
Affiliate marketing is one of the most profitable ways you can start making money passively especially online. It is a revenue sharing between a marketer and the owner of a E-commerce store or a merchant owner.This is also another way to make money passively and also one of the most profitable.
Inorder to be a great marketer you have also to be a good marketer. In affiliate marketing you can earn in different ways like ;
- pay per click
- pay per lead
- pay per sale
There are so many affiliate programs that suit everyone and the best way to maximise your profit and earning is to set up a website and provide content to your website to enable visitors come to your site.
Your website acts as billboard where a new website is not known by anyone but only you or either your girlfriend or boyfriend, but by providing content to it and contnue mastering the search engine optimatization makes it reacheable by the users.
some of the known affiliates like google,Jumia affiliate,amazon affiliate,clickbank and many more.You can either market digital products or even physical products depends with your priority.
4.Invest in crypotocurrency
This is the now called the revolution of money. Crypotocurrency is the new money or the digital currency.In day day to lives everyone need money of either to show value or involve in an exchange of a service or a product.
Some of the most common cyptocurrencies known is Bitcoin, etherium,litecoin ,Tron etc
Cryptocurrency can either be treated as an asset and also as a currency. why an asset? Once you have some money and buy the amount of bitcoin or ether or any other crypto, there continue to increase in value.
One of the coin that suprised many is ether ,in 2020 around march one ether costed only 100$ but by march 2021 it costed almost 2000$ that only one coin, If you were familary with this and bought numerous of them them you would be a millionier.
In 2020 it when many millionears were fast,you can never be late to buy crypto it land you can be late because this the future money where you only need a mobile application on your phone and store your crypto. Some of the places you can buy crypto is localbitcoins.com or you can just contact me for directions.
This is also another way to make passive income without any involment and get your profits.
Video blogging is another you can start making your passive income online. Youtube is one of the 2nd largest search engine after google and also owned by google.
All you need is to open a youtube channel is unable you can hire me. You earn by displaying ads on your channel by first applying to the google adsense platform.To get monitized you need to get the required monetization policy of atleast 1000 suscribers and 4000 watch hours.
you can also add affiliate links on your description according to the content your are publishing. As long as your channel remains videos will always be watch by a number of searchers and this also a great way to money online passively.
6.join a network marketing company
This is another big industry that no one is talking about. Networking marketing companies are so many and what you need to do is to find a company with the right products and products you love.
Take a company that has been tested over time ,for some companies that join the network marketing arena end up going bankrupt over time it may go away with money that may be you had invested it good thing to do your research and also asking the person reffering you to because you cant join a network company with been reffered by a person in the company.
Get into the company learn and relearn ,when building a business in anetwork marketing company is hardwork but when the result start to come you will never be the same person again.
some people make a mistake of associating network marketing with scams which is not true ,but you should be aware of scams this is internet.Join a network marketing company and get to work,this also another way to make money passively and you need a small amount capital to get started.
7.developing mobile application
If you are a techie guy this also another way you can leverage your skills and make money passively.If you are much famialiar with coding ,html,css you can start by developing apps and adding them to appstore or even playstore.
Ago, adding an app at appstore or playstore took months or even years but nowadays it only takes days if not hours for an app to be added.This is also another way to start making money passively.
Dropshipping is a method by which you the marketer you are able to sell products without having to store them or even have an inventory or sometimes even touch it.
Your work as a drop shipper is to connect the buyer to the manufacturer so acting as an intermediary. Products come as you order them and even with the name of your organization.
what you can do is to choose a niche you may like for example you might decide to drop ship cars. Many people are making millions with this method and also making money passively whether sleeping orders will still come. This makes a good website and smart that can make the visitors not leave without making any purchase.
This is another venture that if you are good in compelling great articles this another venture that you start and making passive income. Although it takes time to be there but it worth it.
All what you need to do is to deccide the niche that you will be writting about and focus in it .Then after choosing you niche you need to choose the blogging platform that you would to start blogging with.There are both free platforms and also paid platform.
The paid platform is the best to choose from, but if you will be limited to monetisatize because it not your platform. One of the best platform for both paid and free is wordpress.
Once ready with the blog of your choice it now time to start provide content to your blog to have visitors in your site and as long as there are visitors coming to your site you will continue making money in an auto mobile.
If you have no content to write about you can start giving product reviews on various ecommerce stores ,and if the visitors use your link and purchase you can make a commision.
you can also start displaying ads on your site and visitors click on them you can make money day and night.Some of the affiliates you can join are like google adsense, any online store like Amazon,jumia etc
It takes time to start making money passively but it your duty to keep pressing on don`t stop. Which best way did you like of making money passively?
10.selling and buying of shares
The biggest stock exchange in the world is the New York stock exchange but you don`t have to buy shares in the new York Stock Exchange. in the Eastern Africa the biggest stock exchange is the the Nairobi stock exchange which you can start investing with some of the registered brokers. In kenya you have to buy shares in a public limited company that should be listed in the Nairobi Stock Exchange platform.
Once you find the broker of your choice you can tell them o buy on your behalf. The minimum shares one can buy is hundred shares on each company that you decide to buy on.
the idea of buying shares as way of making passive income with out you been involved is buying low and then selling high wile prices go high and this can be done through your broker.
If you buy a portion every month you will be suprised how at the end of the year how it will have grown. On the other hand you can decide instead of selling when the prices bullish ,you can decide to be taking dividends from the company you bought the shares.
Buying shares can also help you some money in an automobile with you been involved much why dont you consider buying?