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Another investment that I highlighted recently was p2p lending through Lending Club. Ive been investing in p2p for a few decades now and have booked returns just under 10%. Now that may not sound great against double-digit stock returns but its double everything you get from additional fixed-income investments.
Investing in loans is nothing new. In reality, I guarantee you have money in them via any pension plan or insurance. You see banks sell their loans to investors who need reliable money flow so their biggest buyers of loans are pensions and insurance companies.
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I average just under 10% annually on the loans so about $1,000 on every $10,000 invested. Now thats a calendar year so youll need a bit invested to create that $5,000 a month but even a small portfolio will constantly be putting cash in your account. You receive paid principal and interest monthly on your loans so its a great cash flow investment. .
What I like about p2p investing on Lending Club is the websites automated investing instrument. You decide on the standards for loans in which you want to invest and the program does the rest. It will search for loans daily which meet those factors and automatically invest your money. Its important because youre collecting money on your loan investments every day so that you want to have that money reinvested as soon as possible. .
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The automated investing instrument on Lending Club gets the investment completely passive. I could only check in on my account once per month or even more often. I know that program is going to keep investing my money for a secure and passive return.
Our next passive income idea is another twist on crowdfunding called Patreon. The site is promoted as a crowdfunding site for creative people like artists and writers but its for anyone with a side-hustle idea.
Patreon is actually how the arts used to work hundreds of years ago. Back during the renaissance, artists utilized to ask the wealthy for their patrons to support their work through regular contributions.
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So now the website Patreon gives you the opportunity to get patrons to your own works. You construct a community of people interested in your job, another usage of a site that visit the website will double-duty with this passive income plan, and then request them to make contributions each time check my site you produce something. .
Now patrons dont come off empty-handed, you provide benefits and copies of this work. So to get a writer, you could offer copies of your own books. You can promise to publicly thank patrons on your blog or to promote something of theirs in the future.
Even if each patron only contributes a very small amount every month, it can still be a massive source of income. Take a peek at the Patreon page for Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of just $3 a month would be a monthly income of nearly $19,000 and they get cheerleaders that are always happy to spread the word on their brand. .
Our last passive income source is creating your own brand and selling through Amazon FBA. This really is one of the very exciting income thoughts Ive seen in years. Amazon FBA makes it easy to start your own important site retail company, to sell your own products.
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It used to be that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses throughout the country.
The manufacturer is going to put everything together, pack it and even put your tag on it. Then you just run your advertising and market everything from the webpage on the worlds biggest internet shopping website.
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Ive got a couple of interviews on the blog from folks who have started shops through Amazon FBA. Some of them are making six-figure incomes in less than a year so $5,000 a month is easily achievable in less than that.
Making legitimate passive income isnt as difficult as you might think. Some of the best passive income ideas might take a little time to set up but can begin cash flowing within a few months and will provide a consistent monthly income for years or longer. The most important point is just to get started.