You don’t always have to exchange time for money. In fact, there are many easy passive income ideas that will bring in money, and all you have to do is invest a little time (or money) upfront. And, many of these ideas can bring in money for you for years to come. Below are 12 easy passive income ideas that you can try now.
Easy Passive Income Ideas
These easy passive income ideas utilize either your upfront time or money, but are all fairly easy to get started. Plus, you can try multiple ideas to see which one works best for you and what you want to earn.
1) Sell Stock Photos And/Or Videos
If you have an eye for art or can create high quality videos that people can use across the internet, you could sell your photos and videos as stock. Popular stock photos and videos vary, but as of right now, people working from home, women, and especially women of color working are popular. Also, flat lays are extremely popular on sites like Pinterest and Instagram, so many people love to use them.
Many bloggers, social media content creators, and more use stock photos and videos on a regular basis to create their own graphics and content. Without stock photos, they would have to take photos themselves, and many don’t have the time or resources to do so.
That’s where you’d come in. If you like taking photos, you can get paid to sell them online.
Here are a few websites that you can sell your stock photos to:
- iStock Photo
- Adobe Stock
- Creative Market
Of course, there are many other sites that you can use as well, but these sites are popular. And, once you take the photos, you can sell them forever.
2) Become A Silent Business Partner
Unless you live under a rock, you’ve heard of the super popular show Shark Tank. But did you know you could do the exact same thing as Mark Cuban, Kevin O’Leary, Lori Greiner, and the rest of the gang? If you have some money to invest up front, you could become a silent business partner.
Here’s how it works:
- You invest some money and buy stake in the business.
- Then, you’re paid a percentage of the profits based on your stake.
- You can take the risk and buy a majority of the stake, or you can invest in a different businesses and offer a smaller percentage.
This is one of the best easy passive income ideas for people who want to be a business owner, but don’t want to do all of the back-end work. Of course, you’ll have to do your due diligence. It’s extremely important to vet each business idea or product, their numbers, and protect your investment. But, if you choose correctly, your return on investment can be huge for years to come.
Want to look at what you could possibly invest in? SeedInvest has active startups that are looking for silent business partners!
3) Start A Vending Machine Business
Starting a vending machine business, or even just opening one vending machine, can offer you decent passive income. If you can find a high traffic area, or offer specialty snacks (like healthy options or even gourmet options) you could potentially make $100-$400 a week from your vending machine. And, if you decide to have multiple vending machines, you could make even more.
Keep in mind that this isn’t truly passive income. You will either need to load the treats yourself and collect the money, or pay someone else to do it. However, this could easily be done in just an hour or two a week.
Related: 35 High Paying Jobs Without a Degree
If you like the idea of silent investing and owning a business, but don’t feel comfortable with startups, you could try real estate crowdfunding. With real estate crowdfunding, you can invest in different types of properties, including residential, apartment, and commercial properties.
The best part of real estate crowdfunding?
It’s both a long-term investment option, and a passive income opportunity. Your portfolio can only grow over time, but you’ll also receive dividends quarterly based on what your properties earn.
Sites like Fundrise make it super easy to start investing in real estate, and you can get started for as little as $500.
(Editor’s Note: Fundrise isn’t Derek’s favorite business, and he rarely recommends them. Here’s why.)
5) Rent Out A Room/House/RV
Do you have a spare room, basement, RV, or even house that isn’t being lived in or used right now? Rent it out! Sites like Airbnb make it easy to list your property and rent it out to travelers. With travel becoming more popular, and with many people looking for affordable or unique stays, your place could easily stay rented out month to month.
For example, some of the most popular short-term rentals are those near high vacation areas (like Disney World), with unique properties (like RVs or tiny homes) and places that offer amenities (like a washer and dryer).
This income opportunity could be as passive or active as you want it to be.
To keep it completely passive, I’d recommend hiring a cleaning service, keep a healthy stock of items like toilet paper, and automate as much as you can for your guests. That way, you can make the profit, but not have to invest a lot of time on your property week to week.
6) Rent Out Your Car/Truck/Van
As someone who works from home, my car doesn’t get much use. Typically, I only drive once or twice a week for errands and tasks. Because of that, I’ve found that I could rent out my car and make money from it when I’m not using it.
How does this easy passive income option work exactly?
Well, sites like Turo let you rent out your car to travelers, and you get paid for every day it’s rented out. So for example, if you plan on being overseas for months and don’t want to pay to park your car, you could rent it out while you’re gone and actually make money from it.
Also, vehicles like trucks and work vans are extremely popular to rent out.
People move all the time or need vehicles like a work van to do specific jobs and services. So if you have one of these vehicles, you could make hundreds, if not thousands, of dollars each month, and all you have to do is hand over your keys.
While sites like Turo protect your car and offer insurance, if you choose to do this yourself, make sure your insurance policy covers commercial use and renting it out to others.
7) Purchase A Turn-Key Business
Businesses like laundromats, storage rentals, and car washes are all businesses that could make you passive income. Plus, many of these businesses can be purchased as a turn-key business. What does that mean for you? Basically, a turn-key business is a business that has already opened and is currently making money and a positive cash flow. That means that if you purchase it, you’ll start making money from it immediately.
The best part about these types of businesses are that many of them are self-serve and require little to no time investment on your part. For example, with a laundromat, you could install some cameras and an alarm system to keep watch, but you’d only really need to collect the money from the laundry machines and coin machine from time to time.
There are many people who own businesses like this, and they make hundreds, if not thousands, in profit every single month. Plus, if you’re an introvert and don’t like interacting with people often, these businesses allow you to make money without the interaction.
While you can rent your car out if you never use it, what do you do if you drive your car often? Why not advertise a business with it?
There are multiple websites that you could use to find businesses that want to advertise. And, you could easily make up to $400 dollars a month with just one car.
How does this passive income option work?
Basically, you’ll get your car wrapped or receive a large decal to add your car. Then, you get paid to drive like you normally do and advertise the business that is shown on your car. It really is that simple and easy to do. As long as you don’t care how your car looks, it’s easy to make money doing what you already do anyway.
9) Start A Website
This opportunity doesn’t come easy. But there are many ways to earn passive income with a website.
- You could sell products.
- You could have affiliate links and make referral income.
- And, you could also make money from ads and other monetization techniques.
However, it’s important to keep in mind that making money from a website does take a time and money commitment upfront. You could easily spend hundreds on hosting, your domain, and making your website look presentable. However, once you get it going and have regular visitors, it becomes easy to make more money month to month. In fact, I know people who haven’t written a blog post in years but still make income from their blog each month.
Related: How to Start Your Own Blog
Online education is booming, and you can make passive income from it by creating a course. Plus, you can utilize the skills and knowledge you already have in order to make sales.
For example, many teachers can make money from private tutoring, but you could also create a crash course on what students “should” know about a certain topic. Then, you could charge a certain amount (check out sites like Udemy to see how much people charge!) and make money each time someone purchases the course.
And, unless your topic has changes often (like social media), you only need to create the course once. That means you can make hundreds (or thousands) of dollars from something that you spent a few hours on!
Other popular learning topics include:
- Office Skills (like Microsoft)
- & more!
Everyone has knowledge they could share and make money from, you just have to decide what you want to teach.
Which Of These Easy Passive Income Ideas Do You Want To Try?
All of these ideas are great ways to earn passive income. And, you can also combine these ideas to diversify your earnings and portfolio as well. Which of these interests you the most?
Will you be trying one of these easy passive income ideas? Which one do you like best?
AUTHOR Kimberly Studdard
Kim Studdard is a strategy consultant, product launch expert, and mastermind behind the www.theentrepremomer.com. When she isn't spending time with her daughter and husband, or crying over This Is Us, you'll find her teaching other mompreneurs how to scale their business without scaling their workload.