So, I am going to talk about the seven best and easiest ways to make passive income online, and what we’re going to be doing is we’re going to be taking it down from number seven all the way down to number one.
We are also going to give pros and cons for each one of these methods for making passive income, to start with number seven and then go to number one.
Best and easiest ways to make passive income
Number Seven is Turo, which is to rent your car out; there’s a website called www.turo.com, through which you can give your car on rent, it’s basically like turning your liability that would normally suck money away from you, and you turn that liability into an asset. www.turo.com is really simple, and you just basically go and register like you make an account, upload your Car details and you can set the price for how much you want somebody to rent it out. If you need to use your car every day then this may not be a viable option for you.
Number six favorite way to make passive income online is amazon automation now you may have heard about this, people that are willing to build amazon stores for you and split the profits with you a lot of them will do like a 60-40. We’ll take 60 of the profits and the person that’s building the store will take about 40 of the profits and this is a really cool way to make passive income online, as you know amazon is the number one place where people are buying stuff online. So having a storefront on amazon can be a nice source of passive income. The only challenge with amazon automation is the fact that a lot of these guys require high upfront fees, which could stop some people from getting started with this method even though it is a viable method for creating passive income.
Build a membership site
Number five is to build a membership site, what is a membership site? It’s simply a website that people have to pay every single month for access to certain information. You can make a membership site about cars, you can make a membership site about how to trade stocks, you can make a membership site about beauty tips. There are so much different things that you can make membership sites about the thing that you love to do. The margins are amazing and the second thing is it’s recurring, so it’s coming in every single month.
Now the challenge or the con with membership sites is that you have to know how to get new subscribers, so if you’re not a marketing guru you don’t know much about marketing then getting new clients is going to be a struggle for most people because selling a recurring service a lot of times can be a little bit challenging.
Invest into Stocks
Number four is to invest in stocks that pay dividends, you’ve probably heard about stock trading or stock investing and this is to invest in stocks or index funds that pay dividends. Stock trading on vanguard is amazing, they have really cheap fees, their customer service is amazing. It’s really good so what is a dividend, it’s simply when you own a stock or you own a portion of a company, which is what a stock actually is; obviously, some of these companies decide to pay out a dividend and a lot of times they’ll pay it out like once a quarter, where you’ll make a little bit of money.
So there are two things that you can make on stock market investing, one is when the stock increases in value obviously in some sort of speculation, and the second thing is though its sort of dividend now the challenge with dividends or stock investing. This will give you a bit of money to make any sizable amount of money with stock trading.
Sell Online Courses
Number three is the way to make passive income online is by selling an online course because you have amazing margins and a lot of times you can sell online courses for 500, 1000, 2000, even sold some of our online training programs for up to ten thousand and more. So the best part about selling courses online is that you have these amazing margins and it’s fun a lot of times you can build around something that you’re passionate about.
Now the con to doing this is that again you need to know how to do online marketing, if you’re not familiar with online marketing then may be a struggle to actually learn how to sell your course. But this is an amazing way that you can make passive income online.
Number two is that you can make money passively online is by being an affiliate of a SAS company It’s a software service company, most software has recurring revenue, meaning that you know people are on a subscription, and if you refer a client to them; they’ll pay you month after month, as long as the client is actively using their service. You don’t have to actually create software, all you got to do is refer clients to them and on top of that, it’s the recurring aspect right that people stay on it.
The downfall with this again is that you need to have some sort of marketing knowledge to refer clients to these different SAS affiliate opportunities.
Number one way is that you can make passive income online, is with a 4 x robot. If you’re not familiar with what FOREX is, it’s the foreign exchange market. It’s a 5.6 trillion dollar per day market, it’s kind of like trading stocks or buying stocks except for you’re buying currencies and the best part about this is that with a 4 x robot. You don’t really need to know anything about FOREX or FOREX trading. You can just use a robot that you install and it can actually do the trading for you which is really cool.
You can automate this process where you can have a robot that’s trading in the background for you even while you’re sleeping.
Now the con with this methodology is the fact that there are so many poor-performing 4 x robots that are on the market there’s a lot of robots out there, that’ll do well for a while and then will eventually blow your account. So you really need to watch out for them.
Thanks for reading out this article!!