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Passive income allures each one of us. Nobody says no to an income that can be earned with little efforts and participation. There might be people who are not well aware of the concept of passive income. So, let us introduce you to this concept and give you 5 interesting and amazing ideas to earn passive income.
Passive Income is nothing but earning money through a concept or an idea that requires your minimum efforts and participation. You do not have to be available 24/7 for the customers. It works on the concept that you have floated an idea and it is fetching income for you. For example, let us suppose you have written a recipe book years ago that incorporates easy and simple recipes for those who have less time to prepare their meals. Now, put it online and make money by charging fixed amount for every download. As you can see, this clearly requires minimal attention from you. The money that you will earn through downloads will be passive income for you.
Now, here is the list of 5 interesting ideas through which you can earn passive money.
- Lease your property
If you have a fully furnished property which is not being used by you then lease it to the tourists and travelers. You must have heard about Airbnb, Oyo and other websites that allow you to put up your property on lease.
The demand of such fully furnished property is increasing day by day. Tourists prefer such property over hotels nowadays. You can earn hefty amount of money from such an option.
- Tip: You must appoint a security guard or care taker for such a property. This will entertain the guests/travelers and keep you stress free.
- Create your own game/application
In this digital era, applications and games are taking over the world. If you have developed or are thinking of developing an interesting game that can allure and entertain people then this could be your chance to earn a lot of passive money.
All you have to do is float it on all the OS platforms and earn money.
- Sell E-books or project reports
We all have written e-books and project reports during our courses. This can be a good way to earn passive money. You can put all such books and project reports online for students. Or, you can customize them as per their needs and requirements. This requires less involvement and can be charged per report/book basis.
- Tip: You can also opt for selling only those books or reports that you have written.
- Become a business fetcher
This asks you to deal with the clients and get business. When things really have to be executed or services need to be delivered, just outsource the work. This is easy and simple way to earn passive money. You can be the business getter for various companies and thereby, earn commission.
- Tip: You have to use your network really well to pull this off.
- Buy and sell things
This can be your website that allows people to buy and sell their old stuff. You can earn commission on ever transaction being sealed.
Passive income is easy to make with a concrete idea.