A spin-off for web designers is to offer a landing page creation service. Well-optimized landing pages can be the difference between a successful and a failing business. And, as creating the perfect landing page isn’t easy, this is a service many businesses are prepared to pay for. I know people who are earning 6 figures per year and all they do is create landing pages for businesses. There’s serious money to be made.
Sign up for a reputable affiliate network: Aside from Amazon, there are dozens of large reputable affiliate networks, such as Share-A-Sale, Clickbank, and Skimlinks, that specialize in connecting you with merchants who are looking for affiliates to sell their products. They charge relatively low commission fees for the privilege of connecting you with merchants, and the merchants on these sites tend to offer much higher commission percentages or set dollar amount payouts.
The much loved model for bloggers and content creators everywhere and for a good reason…it’s pretty easy to write a 60-80 page ebook, not hard to sell say $500 worth a month through online networking, guest posting and your own SEO optimized blog, and well you get to keep a large whack of the pie after paying affiliates. Hells yeah! Continue reading >
If you're curious about starting a blog, read this guide. I used Bluehost to get started with a website because it's super cheap - a free domain name and $2.95 per month to host it. I love Internet businesses because of this extremely low overhead and huge income potential. Our Bluehost deal is specific to our site, so if you want to start a website, make sure you get our $2.95 hosting deal from Bluehost.
First: I understand why you would say that such investments are restricted to only accredited investors, because generally, that’s true. There are means, under federal securities regulations and Blue Sky laws in each state, to sell interests to non-accredited investors – but usually those means are so heavily regulated and involve disclosures so similar to cumbersome registration requirements that it is not worth it for the seller to offer to non-accredited investors.
White labeling products involve purchasing pre-made products from a supplier and then adding your own labeling and branding. Products could range from candles to gym equipment or even tea, but all will come without labels, allowing you to create your own new range of merchandise. Most suppliers will advertise the fact they offer white labeled goods on their websites, so pick your niche and then find the right supplier and product for you. Once labeled, products can be sold via sites like eBay and Amazon, or from your own eCommerce store (discussed in a moment).
Dividend investing is right up there for sure. You don’t have to charge $48. You can charge <$10 to boost sales. The internet has enabled so many creatives to publish their works at a low cost. People will surprise themselves if they try to create like when they were in school. The other reason why I have Creating Products edging out dividends is because of the much higher POTENTIAL to make a lot more money. For example, $20,000 a year in book sales requires $570,000 in dividend investments to replicate the same amount. Plus, there is capital risk. With book sales, there is a correlation with EFFORT, and you are not beholden to the whims of the markets.
You can find dividend stocks using Google Finance Stock Screener which is free to use. Set the search criteria for the P/E Ratio, and Dividend yield (shown as a percentage) criteria. You can set minimum and maximum values; in the dividend yield box, set it between 2 and 100. This will search for stocks that pay dividends worth between 2-100% of the current stock price.
How much you can earn: I personally earned over $650,000 last year from my blogs, but I do this full-time and have put in 5 years of work to build it up to that. If I remember right (it’s been a while!), I earned $35,000 my first full year. We teach people how to replace their full-time income within 24 months in our Project 24 program. We even outline how to do it in our free webinar that you can watch here.
One of the things I'm surprised your article doesn't mention is the tax advantages of this type of investment. The depreciation and rehab costs (purchasing distressed properties) can be huge deductions to ones income taxes, which none of the others have. Then, along with the appreciation of real estate, this passive income investment outperforms the notion of maxing out my 401k as well.
The first step is to get your domain. For the loooongest time ever, my blog was known as senseofcents.blogspot.com. I finally bought www.makingsenseofcents.com and haven’t looked back since. I don’t think anyone has ever said “I regret buying my domain and looking more professional.” If you sign up using my Bluehost link, then you will receive your domain for free.
In my (unpopular) opinion, getting a raise is harder than getting a promotion. Think about it from your boss’s perspective, would you rather a) pay more money for the same service, or b) pay more money for additional responsibilities. Alas, if you feel you’re overdue a raise, check out Dr. Randall Hansen’s article on Getting the Raise You Deserve. There are some really useful strategies there.
Market your course: The beauty of using a course to make money online is that you can continue to sell it for as long as you’d like. Look for niche communities on Facebook, LinkedIn, or Reddit that might benefit from your content. Guest post on relevant blogs and sites. Look for anywhere you might be able to get in front of the right people. With just a few hours a month you can continue to generate sales.
While this isn’t exactly a long-term solution for making money (since you have to pay it back), it is a reliable way to get some extra cash when you’re in a pinch. It’s also a great way to make money by saving money if you use a personal loan to pay off high-interest debt, such as credit cards. Since getting a loan is one of the easiest ways to make extra money, we felt we had to include it.
Do you think it’s possible to build a blog from scratch, outsourcing the work from day one (assuming I have some cash that can cover the initial expenses until the blog generates enough income to at least break even)? In other words, do you think you could you have spent your $500 max per month for the writer, social media expert, etc to build your blog to the point it’s earning the same amount of money it does now?
Do you enjoy fast food or going into retail shops? Many companies hire mystery shoppers to test the customer service of their stores. A common one is Subway, which hires mystery shoppers to ensure that "Sandwich Artists" are following all the franchise guidelines. If you have time and can travel to different places, this could be a good side hustle.
Anthony, nice setup! To your question about the rental mortgages, you haven’t said what interest rate you are paying. As a start, if you are paying more than the risk free rate (Treasury bills) which you probably are, then a true apples to apples comparison would be yes, pay off the mortgage. But, if you are comfortable taking more risk, you have other options to invest in which you *hope* will yield you more over the coming years. You also didn’t say whether the rentals generate net income and if so, how much? What is the implied rate of return on the equity you have invested in them? If you pay the mortgages off, you’ll have even more equity tied up, will the extra net income make that worthwhile? Maybe you should use the money to buy more rentals instead, if purchase opportunities still exist in your town. … this is less of an answer than a framework to analyze the decision, hope it is helpful.
In college I earned a good amount of money by flipping our car. I took the old beat up piece of junk car we already owned and listed it on Craigslist for about $800 more than I thought it was worth. It took a while to sell at the higher price, but it eventually did! Then I bought another car with the additional $800. I flipped my car about 4 times per year (my state only allows 5 sales per year before you have to be a dealer) and each time rolled the earnings into a new car. Eventually we had a much better car and it hadn’t cost us a dime.
During my high school days, I was a pretty decent golfer (about a 2-3 handicap, for you other golfers out there). I was asked by my local club professional if I would help him teach his junior golf clinics that summer. If you have specialized skill in any sport, there are definitely opportunities out there for teaching others the fundamentals (and getting paid).
Freelancing is the next best thing to being paid more for your full-time work, because professional work always pays more than unskilled. To find opportunities, let former colleagues or other personal connections that you’re available for freelance gigs. (Here are some ideas on how LinkedIn could be useful for that.) Or, post on marketplaces particular to your field. For instance, Mediabistro, a journalism site, allows freelancers to post profiles of their experience and services. Though these are more up to chance, designers can bid on jobs at 99Designs.com or submit a design at Threadless, to see if it will be crowdfunded. Elance-Odesk also lists many freelance opportunities, and you can also post your own services on Fiverr, although some freelancers say these services create a race to the bottom on fees and so are not very lucrative. If you're new to freelancing, here's how to set your rates, and here's how to negotiate raises with clients.
Whether you have a website or are still dreaming up ideas for a blog, you can also look into affiliate marketing. With affiliate marketing, you partner with brands and businesses within the content of your website. If you mention a product or service, you link to that produce or service using a unique affiliate code you received when you signed up for that particular affiliate program. From there, you’ll make money any time someone buys a product or service through your link.
It's important to keep in mind that participants don't "qualify" for all surveys. Market researchers often want opinions from users who match specific demographics or who are in-market for particular products and services. If you attempt a survey that you ultimately don't qualify for, Swagbucks will give you at least one point in its rewards program. You know what they say: "A penny for your thoughts".
Earn cash back for shopping. Earning cash back on your purchases is a smart idea, and credit card rewards aren’t the only good cash-back strategy out there. With sites like ShopAtHome.com, eBates.com, and TopCashBack.com, you can earn up to 10% cash back on purchases made with approved merchants. Many frequent shoppers also love the Ibotta app, which lets you earn cash-back on every purchase.
If you're looking for more traditional part-time jobs, Pollak notes that flexible job postings are on the rise for positions such as home health aides, nurses, customer service representatives and administrative workers. Seasonal work, such as part-time work tied to the local tourism industry, construction season or holiday shopping season, may provide opportunities for part-time work to earn extra cash.
Did you know you can make money simply by owning a car? It's true, thanks to a company called Turo. Turo is a “car sharing marketplace.” Next time you're in a new city and need to rent a car–instead of using an airport car rental, you could use Turo and rent actual people's cars! (Similar to how Airbnb replaces hotels). Turo lets car owners earn money in three ways: local pickup (renting your car from your own driveway); delivering your car to local places; and also by leaving your car somewhere to be picked up (such as at the airport). Earn Money with Turo.
Affiliate marketing presents a very low friction entry into selling products online. While you do need some type of audience to sell these products or services to, you could make a significant amount of money from home while doing it. Some products or services have very high earnings per click. That means, if you play your cards right, you could easily make a large profit on conversions by driving traffic to specific offers as long as you target the right interests.
Why did P2P lending get a liquidity ranking of 6? It is quite possibly the most illiquid investment option you listed. You said you rank liquidity by “difficulty level of withdrawing your money without a massive penalty”, and for Lending Club notes, it’s not only difficult and extremely time consuming to sell all of your notes in their super illiquid market, but you would have to sell your notes at large losses to hope to get others interested in buying your notes. On top of that, it is impossible to withdraw your money any other way other than just waiting for interest/principal to pay off every month until maturity in 3 to 5 years. You can’t just one day tell Lending Club “I want to quit, please give me my money back.” One can even argue that it is less difficult to sell a home (in order to “withdraw” the money invested) than to withdraw all of their money from a P2P loan portfolio because it is very possible to sell a home before 3 to 5 years.
What are your thoughts on an Immediate Annuity as a passive income vehicle? I suppose it’s not a great investment since you never get your principal back, but the risk is zero and the cash flow is fairly good, approaching 6% currently. And, since you are guaranteed payments for life, you may not care that you never see your principal again anyway since you’ll be dead!
Sell stuff online. If you have high-quality items to sell, there are a slew of online marketplaces you can use. Just make sure you understand the fees associated with your sale before you take the plunge. Where neighborhood Facebook pages and Craigslist ads are free, many online marketplaces or consignment shops charge for ads or require you to fork over a percentage when you make a sale.
It can take time to build up your personal freelance business. Yet, there is more demand than ever for freelancers. So, if you want to kick start making money online through freelancing you can join one of the top freelance networks, such as Flexjobs, SolidGigs, Contena, Upwork, Fiverr, or PeoplePerHour. Sign up, build your profile, upload some samples of your work and start making extra money by doing small freelance jobs.
Lending Club went public in 2014 and is now worth about $1.7B. They advertise P2P lending returns of over 7% for well-diversified portfolios of over 100 notes. I’ve personally been able to achieve a 7.4% annual return over the past two years in a completely passive way by investing in A and AA notes. Others have achieved a 10% annual return through relatively minimum effort.
A freelancing service is something that can, with the right strategy and action, turn into something more productized and passive. Brian Casel, featured guest on SPI Podcast Session #158, talks about how he was able to turn his stress-inducing one-on-one design service business into something that was actually more productized, passive, and profitable. I highly recommend you listen to that episode if you have a service-based business and you feel stuck.
Every one is looking for ways to make an extra income including me. Personally I started my search journey 3 years ago when I were in debit of $10000. I started by taking Survey, listening to the Radio and reading Emails. There are a number of websites that will pay you to listen to the radio, read advertiser’s emails and take surveys. I’ve tried about a million of them, but there are only a few of them that I would recommend. Inbox Dollars is one of those companies.
Babysitting isn’t just for teens. Everyone from college students to recent retirees can make money watching other people’s children. Word-of-mouth referrals from friends and family are still a great way to get started, but you can also create a profile on Care.com or Sittercity to expand your reach. Note any specialized skills, such as CPR certifications or experience with special needs children, to make yourself more marketable.
One aspect you might want to add to your scoring is “inflation protection”. At one end, bonds and CDs generally pay a fixed nominal coupon that doesn’t rise with inflation. Stock dividends and Real estate rents (and underlying property value) tend to. Not reallly sure how P2P lending ranks- though I suppose the timeframes are fairly short (1 year or less?) and therefore the interest you receive takes into account the current risk free rate + a premium for your risk. Now that I think about it, P2P lending probably deserves a lower score in the activity column than bonds too (since you probably need to make new loans more often).
One factor that you must be aware of though is that Care.com is a peer-to-peer arrangement. That means that you will be in direct competition with other pet sitters in your area. You must price your services competitively in order to get business. Once you begin to develop a list of regular clients, you will be in a better position to raise your rates. This will be particularly true as you get referrals from those customers.
Create a killer course experience: With your course validated and in the works, you need to figure out how people will take it. Most course creators choose to host their courses from their own websites. This way, they get all the value of bringing customers back to their site on a regular basis. I host my own courses from a subdomain on my own site so I can easily add more. The course experience is incredibly important as well. And after trying most of the solutions, I highly recommend Teachable—an online platform designed specifically for courses.
Research individual companies in your desired niche: If possible, it’s always better to become an affiliate directly with a company (if they have an internal affiliate program), as no one else will be dipping into your commission rate. This is the preferred route for most of the prominent affiliate marketers, including Pat Flynn. Unfortunately, it’s also the most work, as you’ll have to do the research yourself to see who offers programs (they’re usually listed in the website footer).