25 Best Passive Income Ideas to Make Money While You Sleep
Working once and getting paid over and over—that is what passive income is. Here are a few ideas for passive income streams. “If you don’t find a way to make money while you sleep, you will work until you die.” Warren Buffett
Crowdfunded Real Estate
Real estate is one of the best ways to make money in your sleep. Nonetheless, the starting capital can be too much for most people and that makes crowdfunding platforms useful.
Stock shareholders receive money in the form of dividend income.
This involves lending money to people who do not qualify for traditional loans. You can do this through companies such as Lending Cub.
Pay Off Your Debt
The more you stay in debt, the more you pay your lenders in form of interest.
Open a High-Yield Account
Online banks pay more than conventional banks. Try Aspiration Bank.
Write a Book
Make it available on Amazon and other sites.
Rent Out Your Spare Room
Airbnb can be quite lucrative.
You will receive commission every time someone buys through your link. All you need is a website.
Lead Generation Website
This is a website where you refer people to local businesses.
Sell Stuff on Amazon
Many people buy from Amazon so you have a ready market.
Cash Back Earnings
Sign up on a special rewards site (e.g. Ebates) and get paid when you shop at specific stores.
Build an Online Store with Dropshipping
People will buy products from your store but the manufacturer will be responsible for fulfilling the orders.
Have an Online Course
Create a course that teaches a certain skill and upload it on platforms such as Udemy or Teachable.
Create YouTube Videos
With a big viewer and subscriber base, you can make a good amount.
Build a Business and Hire a Manager
As long as you employ the right person to run it, you will have a steady source of passive income.
Buy Vending Machines
The secret here is to look for strategic positions for the machines.
License Your Photos
If you are confident in your photography skills, upload them on sites like Shutterstock and get paid whenever someone downloads it.
Create an App
Identify a need and create an app. Some people make crazy money from their apps.
Rent Your Car for Ad Space
Let businesses show ads on your car windows and get paid for it. All you need to do is drive the car around.
Purchase an Existing Online Business
You can find businesses for sale on many websites such as Biz Buy Sell.
Buy a Laundromat
Consider buying an already existing one because starting from scratch can be very expensive.
Open a Batting Cage
Baseball is a popular sport and there are not enough batting cages.
Design products such as T-shirts on sites like Redbubble.
Bond or CD Laddering
Own a number of Certificates of Deposits or Bonds and get money when they mature.
Rent Your Stuff
There are so many things in your house that you can rent out. Market them on Craigslist.