Within six months of selling, however, I had reinvested the proceeds from the home sale and brought total passive income for 2018 back up to an estimated $203,724. I'm not sure I would have sold the house without a clear plan for reinvesting the proceeds, since I'm bullish on the SF housing market long term. However, because I did have a plan, and the challenges of raising a newborn and dealing with rowdy tenants left me feeling a bit stretched, I decided to simplify and sell.
Offering specific online SEO services is also another online freelancer role that businesses are crying out for. If you know how to improve a website’s SEO by doing keyword research, creating content that can rank in search engines, adding metadata/schema to posts and pages, and building backlinks to a domain, to name a few tasks, then this could be a great line of work for you.
Expert sales funnels often start with a free offer, also called the lead magnet. By delivering value in the lead magnet, you're creating trust with the consumer. In the next step, you'd usually find what's called a self-liquidating offer or a trip wire. These are deals that are hard to pass up, often for $7 to $47. The front-end offer is usually found beyond that along with one-time offers to help boost the lifetime value of the customer and the average cart value.
Invest. There are no guarantees when it comes to investing, but you should always start sooner rather than later. If you are looking for a good investing platform, I recommend Motif. Motif Investing allows individuals to invest affordably. This approachable investing platform makes it easy to buy a portfolio of up to 30 stocks, bonds or ETFs for just $9.95 total commission.
Self Publishing is mainstream today. When you purchase an eBook off of Amazon there’s a pretty good chance you’re buying a self-published book. Self-publishing is also ridiculously easy. I tried this a few years ago and couldn’t believe how simple the process was. To self-publish a book you’ll first need to write and edit it, create a cover, and then upload to a program such as Amazon’s Kindle Direct Publishing. Don’t expect instant success though. There will need to be a lot of upfront marketing before you can turn this into a passive income stream.
Holly told me she started writing content in 2011. At the time, she still worked a full-time job but created content online part-time to supplement her income. Over time, she was able to double and triple her rates until she could quit her full-time job to write. These days, she makes bank as a freelance writer and teaches others to do the same via her online course, Earn More Writing.
You can also market your ebook on your own website or blog, particularly if the site gets good traffic. Still another method is affiliate marketing. You can offer to pay sites related to your ebook a percentage of the sale price – say, anywhere between 20% and 50% – for them to post an ad or linked article for your book on their site. This could enable you to market your ebook on multiple platforms for greater market exposure.
If you have nothing of value to sell from home then retail arbitrage might be a better option for you. Many people partake in arbitrage to earn a little extra money, and for some, it has even become their full-time job. Retail arbitrage is the buying of goods at a low price and then selling them on a different platform at a higher price. Sales in shops provide ideal opportunities to pick up products for next to nothing. These can then be sold on eBay or Amazon for higher amounts, making you a nice profit.
Now, it’s time to plan out your show. If you’re doing an interview-style show, you’ll now want to start getting some guests involved. You can use your existing social network to reach out to people you already know or are connected with on Twitter or Facebook. You can also head to Medium or Amazon to find authors or experts on topics specific to your niche.
How to Monetize: Affiliate marketing works well when you discuss products on your blog. For our fish tank blog, we would link to all the things you need to buy for an aquarium and then when people click on that link and buy that item (and other items they purchase with it with some exceptions) you get a percentage of the purchase. Amazon Associates is the best-known affiliate marketing program, but there are others like Impact Radius, ShareASale, Commission Junction, ClickBank and Rakuten too.
Personal finance software can go a long way in helping you to take control of your money and meeting your financial goals. It’s important to note, however, that some focus more on budgeting and expense tracking while others prioritize investing portfolios and income taxes. Explore several different programs and read reviews to find the one that’s right for you.
If you want to help shape products in their early stages, joining an online focus group or answering survey questions is a great way to make extra money online. They don’t pay as much as some of the other options we’ve highlighted, but you can join groups on sites like Survey Junkie, Swagbucks, and IPSOS that pay out through Amazon gift cards, check, or PayPal. You’ll be asked to provide a bit of information about your demographics (age, location, etc…), but after that you can get going making money through surveys.
Many new users prefer to start off with the 100% Free Offers, which is what we usually recommend. These offers are great for beginners because nothing is required other than several minutes of your time. The payouts on these offers are lower, but you're not paying a dime to complete them and they'll get you use to the CashCrate system. After you've started making money online with our free offers, you can always move on to trial offers and increase your earnings.
If you need cash flow, and the dividend doesn’t meet your needs, sell a little appreciated stock. (or keep a CD ladder rolling and leave your stock alone). At the risk of repeating myself, whether you take cash out of your portfolio in the form of “rent”, dividend, interest, cap gain, laddered CD…., etc. The arithmetic doesn’t change. You are still taking cash out of your portfolio. I’m just pointing out that we shouldn’t let the tail wag the dog. IOW, the primary goal is to grow the long term value of your portfolio, after tax. Period. All other goals are secondary.
If you have a spare bedroom, you can find a roommate or list the space on AirBnB for travelers. Having a roommate is the more passive of the two, as being an Airbnb host will require more work in the form of turning over the room between stays. This is a super painless way to earn $500 to $1,000 a month without much effort – you may even be able to cover your mortgage payment with this extra income!
I wish I had more time to put into real estate. Given the run up since 2012, I may even be interested in selling my condo that I currently rent out. I need to get it appraised to really see what it’s worth, but I think conservatively it’s gone up ~50%, although rent is probably only up ~10% or so. I am bullish on rents going up in the future… mostly in line with inflation, or perhaps even slightly faster due to constricted credit and personal income growth which should provide a solid supply of renters. At this point, I just don’t want to manage the property. I’ll probably look into a property manager as my time is likely worth turning it into a nearly passive investment.
Write pitches. If you have located a client for whom you want to write, send pitches, which are topic ideas for articles. Write pitches that not only show your expertise, but also demonstrate your enthusiasm for the topic. First, read the publication to which you are sending pitches to familiarize yourself with what they publish. If applicable, identify a specific section and send our pitch to the appropriate editor. Also, include a brief summary of who you are.
That said, lot's of people are making extra money by publishing their own books on Amazon. For instance, my friend Bob published a few books on Amazon on how to make money blogging and has done very well. The first book provided basic tips for a small price, but his next book, Pro-Blogging Secrets, is offered at a premium price and he also has an online course.
Clearly, there's a lot of demand on Amazon, and if any product is going to sell, it's going to sell well on Amazon. But the goal here is to source the right products that will easily sell at the world's largest online retailer. Generally, products between $10 and $50 sell very well here. Just be sure to do the right market research before jumping on this bandwagon.
Great list! I have another to consider that I personally have 35+ years experience providing. Clean up litter outside commercial properties on foot using inexpensive hand tools. It’s almost as easy to do as going for a walk! I started doing this as a side gig in 1981 and soon grew it into a profitable full-time business. I share my experience in my book, Cleanlots.
Selling digital products can be just as successful as selling physical products. Graphics, software, eBooks, design elements, sound effects, songs, and videos are just a few types of digital products that are in popular demand. So if you can turn your hand to creating digital products, let’s have a look at how you can make money online from this skill…
great information. i recently used your “Start an Online Store” suggestion, but quick turned it from junk in my garage to small business. i found a way to make some quick doe. i found these, “8 point and 7/16 wrench catv cable star key security tool” listed on eBay for $50.00 each. Found the source (newelectronx) that sells them for $5 to 15 bucks per piece. I sell them on craigslist for a good return. i’ve been making good money every since. i’m not wealthy yet, but income is going smoothly and sell aren’t that bad. profit is at least $35 per sale. if i sell eight pieces per day then i make like $280 which is better than a 8 hour job to me. so online selling works.. try it
If you have a good idea for an app, and the skills to create it, then producing your own premium app can be profitable. However, with so many free apps available, it may be hard to convince people to pay. If you want to go down the premium app route, consider having a basic free version to encourage people to download the app in the first place. You can then provide the option of upgrading to a premium plan once users realize how useful the app is.
This is slightly different than eBay Arbitrage. Find a distributor that will sell to you at their discounted prices. List these items online. Buy and ship to your heart's content. Basically, you become a reseller of computers and other hardware. Another thought here is to sell computer parts. Can you find a part that seems to be in demand? If you can supply the demand, you may just have yourself a part-time business.
This has become a popular business model for online entrepreneurs over the past several years, and will probably just continue to grow in popularity. The best thing about selling online courses is that once you do the up-front work in creating the course and setting up your marketing strategy, you can get paid over and over again for work you do once.