Passive income. Somewhere, deep down, it is something that we all want at heart. We’re not saying we know exactly what everyone wants, but when we take a look at exactly what passive income is, and the benefits and lifestyle that it can afford us, then we can’t imagine anyone who wouldn’t want to be onboard with it.
First, we are brought up in this world to primarily know about what’s called an active income. This is where we are to actively go to work, day by day, to get a paycheck and to put food on the table. This is great and depending on how long you’ve been in your particular job, it can pay well. However, it sure can let you down because it cannot provide you the same lifestyle as if you were to switch over to a passive income.
Essentially, a passive income is a source of income that doesn’t require active work and it continues to pay out on an ongoing basis. Think of it like an airplane. When an airplane takes off to its destination, it is utilizing the majority of its power when it is getting up off the ground and once it is in the air, it’s smooth sailing from there on out. You can even put the darn thing on autopilot, and it will flow smoothly to the destination. THIS is how earning money should be, because when it is passive, it frees up your time to take the family on a vacation or do whatever it is that you’d like. This may seem like a pipe dream, we get that, but here are 3 awesome passive income ideas you can start working on right here, right now!
Invest In Crowdfunded Real Estate
Right off the bat, any passive income ideas dealing with basic necessities are immediately given the green light. There is a super high demand for them. Having a place to live is something that we all need. No questions asked, and when you can find a crowdfunded real estate deal that you’d like to be apart of, it will make investing and getting into the real estate business that much easier. You don’t need tens or hundreds of thousands of dollars to get started in real estate. Simply invest in a crowdfunding of it and because there are many people involved, all of you together can pitch in a small amount to create one bigger amount for the agents to work with.
Write A Book
More and more people are migrating to Amazon to write books and publish digital products, because they see just how lucrative they can be even months or years after they have been published. Literally, you do the work once and you get paid forever. This is the idea of a passive income and writing a book is right up that alley. As long as you make sure you put your heart and soul into your content to really offer up some value to your audience, it will come back ten fold and continue to pay you, possibly, for the rest of our life.
Buy A Laundromat
This is so simple, yet so lucrative. Obviously, you will need some start up capital, but depending on your credit score and your relationship with your bank, they will be willing to spot you a loan and take a look at your business plans. Similar to needing a place to lay your head, we all need to wash our clothes at some point. That is just something that is a must and because of that, it will always continue to pay very well.
Conclusion: 3 Awesome Passive Income Ideas You Can Start Working On Today!
These are 3 of the most awesome passive income ideas that will do great service to anyone who were to apply them. It may be a bit difficult to make the transition from an active income to a passive income, but it is 100% possible as long as you stay focused, have a sound plan and as for our final point, it won’t hurt to get a mentor so that you can have someone to bounce your ideas off of and take great advice from.