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Did you ever imagine that there are several easy ways to make money while you sleep? That’s right, you could get paid regularly with many passive income streams just by using your existing skill set.
Here are some of the top legitimate ways of making passive money. Find the ones that you would enjoy doing and which only require you to put in a little effort or time.
Choose your niche but also check out the competition. For instance, you might be interested in working from home, but there are literally millions of results on Google for ‘Setting up your own home-based business. So you need to think out of the box as well.
This list should interest you! Pick one and get started on passive income.
#1. Make Money While You Sleep with Affiliate Marketing
You can earn a lifetime of passive money with affiliate marketing. Your money will start snowballing without having to do anything. For instance, if you’re able to make one sale per day and get a commission of $15 per day, it means you can earn $450 each month. And with a lifetime affiliate program, the money will start doubling with more new customers. You get paid not only for the first sales through your link, but for all other purchases from that customer. It is one of the most attractive part time jobs from home.
All you need to do to make money while you sleep is to promote a product or a site and receive commission when a sale is made. You are only a sales outlet and need not provide the product or the service.
Join popular affiliate programs and start referring traffic. The sellers will track sales made through your affiliate link with the affiliate ID and pay you the commission using different payout models. This is one of the excellent work from home jobs to make passive income.
#2. Rent a Room
You can rent out a room in your house or the entire house to make money while you sleep. If you have the means, you can also find a good property in a nearby city and rent it out.
Become and Airbnb host and start earning money literally while you sleep. It’s not the only one, however. There are many other listing services where you can list your spare room and earn money.
- Be aware of the rules for renting out space to make money.
- You might have to make initial investments, like sheets, bedding, cable, Wi Fi and so on while trying to make money while you sleep.
- Take nice pictures and post them on the listings after creating your account.
- Decide the listing price and describe the amenities provided.
- Set up clear house rules. For instance, you could mention that smoking is off limits.
Tip: Make sure not to opt in for long-term bookings for over a month, or you could end up with squatters.
#3. Write a Book to Make Money While You Sleep
Write and publish your own e-book to earn recurring income and make money. You could select useful topics like career advice or financial advice if you have a specific expertise. You can write a book about your business or even your own life. On the other hand, if you’re good at story telling, you can try fiction as well.
After writing out your e-book, put it up on publishing platforms like Amazon KDP, iTunes Connect to earn extra money. You could also try selling your e-book through your own website, or just offer it in the form of an affiliate arrangements on other websites having related content.
Instead of an e-book, you could also write a book and sell it to publishers, as you can get royalty for the book for several years and make money while you sleep. Mike Piper first wrote Investing Made Simple and sold it on Amazon. Later, he created a series of books and now earns a six-figure amount every year.
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#4. YouTube Videos – Best Online Jobs
While looking for work from home opportunities, you could try making a YouTube video. In a nutshell, post some videos, use marketing strategies to attract viewers and then make money while you sleep through the ads appearing on your video.
Ads are not the only way of making passive income through YouTube videos. For instance, if you have some product or service to sell, you can produce videos to advertise that product. At the end of the video, create a CTA, so that traffic is sent to the landing page of the product/service on your website.
Tip: Use your YouTube video to drive visitors to an affiliate link instead of using a static blog to make money.
#5. Selling Ad Space on Your Car
Are you interested in working from home or getting some passive income ideas? Many companies are ready to pay you for driving your personal car and offering advertising space on it.
Sign up with companies to get paid passive income and make money while you sleep, for just driving around in your car going about your daily activities. It could be just a window sticker or a full wrap all around the car to make money. Check out car wrap advertisers online.
All you need is your own car and a driving license to make money while you sleep. The amount of money you can make depends on the wrap size, your location, the ad visibility and so on. However, you can make money online and earn anywhere between $300 to about $600 a month.
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#6. Lend Your Money
It goes without saying that the best place to park your extra funds would be in the US Treasury securities or as deposits through bank certificates. However, the returns are less than 1% in these cases.
How about trying lending clubs or platforms where you can provide funds to investors or others looking for loans.
P2P lending or peer to peer lending is becoming very popular these days, eliminating financial institutions. It is also less volatile than stock markets and offers good interest rates.
These are online platforms connecting borrowers and lenders and make it easy to lend money.
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Last Word
Passive income is really hard to beat, when it comes to making money. The Internet has made it so easy to monetize any skill or talent you have and make money easily.
Typically, passive income means that you can make money without being too actively involved in the generating the income. That is what makes it particularly attractive.
It’s not a good idea to put all your eggs in one basket. You cannot rely totally on your 9 to 5 job, as almost no one has 100% job security these days.
If you pursue some of these passive income ideas, it could come in handy on a rainy day and you could soon be whistling your way to financial independence.
Sounds good? Get on the gravy train. There’s no time like NOW!!
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