Passive income or residual income is the
process of generating constant cash flow for the effort you put once. It
contradicts the active income strategy. In Active income, you only get paid for
the work you do. But, in passive income, you earn money by building assets. It
can be in the form of house property generating monthly rents, business, book,
music anything generating royalties even when you are not working.
Passive income does not require your presence
like a regular job and you can easily make money from home. But, the question
is from where to start? To get an idea, check out the following 5 best passive income sources that will help you
make profits sitting at home in 2019.
Crowdfunding Real Estate
The real estate crowdfunding idea is one of
the best sources of passive income from home. You can rent properties and make
it a constant monthly income source from home. But if you don’t have any property
to rent, crowdfunding websites are a
very good choice. You can start with Fundrise as that requires a minimum
investment of only $500 to make you a purchasing partner 48+ real estate
products and gain continuous profits from its monthly tenant or selling price.
You can also go for other crowdfunding options available like Rich Uncles,
Realty Mogul, Equity Multiple, etc.
Dividend income is another best way to
generate passive income from home. Here you need to search for companies who
dividend payments are in the increasing chart rate annually. For this, you need
to gain detailed knowledge of stock investment before you purchase one from a
selected company. Dividends are basically the distribution of income and
profits generated by the companies to the shareholders and owners. If you are
able to buy high-quality dividend stocks, you stand a better chance of
generating a continuous stream of income every year.
This is one of the most profitable passive
income strategies currently. You need to be an affiliate for trusted retailers
and promote their product and services. You can do it by inserting product
links to your blog, websites with the necessary details required for the
customers. As a result, when a customer clicks on your link and purchases the
product form the official retailing site, the company gives you a commission
based on the product selling price. You can also promote the services of other
organizations with subscription plans. Whenever customer signup for those
services, you are paid by the organization.
This is commonly known as affiliate
advertising. While you are earning for making sales of company product and
services through promotions, the CPC ads add more to your bank account. Go for
Cost Per Click advertising on behalf of your tied –up companies. Here you
display different products and services of companies through google ads on your
website. Whenever a customer clicks on those ads, the companies get notified
and you get paid for each click. Here unlike the affiliate program, you don’t
need to make sales. Your earning is based on as many no.of clicks you can
generate from the ad with organic traffic.
If you are good at writing, go for this one.
You can choose any topic of your favorite niche and give your 100 percent to
write a quality informative book. You can choose topics like si0Fi, Fantasy,
Erotica, Romance but to have maximum profits, go for the trending topics. Give
an attractive tile, a proper introduction and then start proceeding with each
section of your book. Make sure your book has an appealing cover along with
quality content to grab eyeballs. Go for the Amazon Kindle Direct Publishing to
sell your e-book in Amazon platform. Once it is visible, you gain fixed monthly
profits from Amazon along with the no.of sales your book generates.
Passive income is a great choice to live a Richie-rich life if done correctly. The above-mentioned 5 ways are the best ones to generate passive income from home.