Passive Income Ideas 😴 (11 Proven Ways to Make $1,000+ Per Month)

This Post: Passive Income Ideas 😴 (11 Proven Ways to Make $1,000+ Per Month)

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creating passive income takes work but once you implement those processes it’s one of the most fruitful income sources that you’ll ever have and it’s also impaired your wording today I want to share my 11 most favorite passive income sources that you can start for them [Music] [Applause] [Music] okay the first idea is pretty well a no-brainer especially if you know that I’m a financial planner and I’ve been working with clients for over 15 years now but the first passive income source that you can derive is from investing now I know many of you watching this might think well Jeff I don’t have a lot of money to get started I get it I was there too let me tell you it doesn’t take a lot of money to get started whether it be 50 bucks a month $100 a month anything that you can start investing you can start making gains and start making interest off your investment so whether if you’re making capital gains off of your mutual funds your ETFs or your stocks or if you have dividends that pay out on a consistent basis these are all sources of passive income that you can get if you’re not sure where to get started investing there are a ton of online providers nowadays there are Robo advisors such as betterment wealthfront acorns Robin Hood Ally invest etrade if you do nothing about investing and you want somebody to pick those investments for you that’s why I have to recommend betterment betterment doesn’t have any money to start and they will choose an ETF model for you so if you’re putting any money in they’re gonna choose those investments and then you’ll sit back and start making those capital gains in dividends otherwise passive income now another form of option that I love when it comes to investing is peer-to-peer lending I started doing peer-to-peer lending over six years ago and it has been one of my most favorite investment classes to put your money into now Peter peer lending is just like as if you’re acting as the bank so instead of somebody going to the bank and getting a loan you are giving them a micro loan so you become the financial institution and since these are micro loans you’re only giving up about $100 per loan sometimes less but I don’t know if you’ve ever taken out a personal loan from a bank but you know how much interest they charge so imagine now you’re sitting on the side of the bank and you’re collecting that interest the top two peer-to-peer lenders a check out our Lending Club and prosper I have accounts with them both and I really don’t have a preference either which one I’ll tell you I’ve been sitting back and earning those interest checks since I’ve started and I love it my second passive income idea is taking advantage of deal sites and/or survey sites so sites like Swagbucks inbox dollars or my surveys signing up for these sites allow you to do your normal shopping that you do online and make a little bit extra money on the side or if you’re sitting on your couch watching Netflix your favorite TV show or some sports game if you have your laptop handy you can fill out surveys as you’re wasting time killing time and make really good money alright my third passive income idea and this one’s a little bit outside of the box but hear me out taking advantage of cash back reward points now I know I’m sure thinking Joe how is that really passive income but check this out before I started using credit cards to pay all of our bills we used to use debit cards all the time because I always subscribe the idea of like you shouldn’t have credit cards because credit cards are evil they’re not that evil but when I started talking to others that were truly taking advantage of all the different reward points that you have to offer I realized that we were missing out on a ton of free cash so we start using reward points specifically for cash back airline miles or hotels anything like that that we knew that we’d be using on a frequent basis so now everything that we buy whether it’s our cell phone bill our satellite bill Netflix groceries gasoline we run all of our expenses through our credit cards and we get back tons of war points and with these reward points we’ve cashed in on airline miles hotels and a variety of other things a couple years ago we took our entire family to Jamaica it didn’t have to spend a single dime other than some snacks in the airport so using your credit cards to take an advantage of these reward points is so passive because you don’t have to do anything you’re doing something that you’re already gonna do to begin with you just sit back and enjoy the cash cookie all right on to passive income idea number four and this is a fun one doesn’t really apply to me well it kind of does yeah let me explain so one of my good friends is a photographer and when he started taking pictures for me and my family and for my business he asked hey I will take your pictures and I won’t charge you but I want to be able to use you for my I stock photography account at the time I didn’t know really what I stock was or what stock photography was but I thought you know what if I’m getting free pictures Samiha so he would upload my pictures to high stock and businesses from all over the world we’re using my picture on their websites brochures and other marking materials I’ve had so many people contact me because they saw my picture on some brochure or a website and asked like Jeff is that you it’s like yeah that’s me now I don’t get any royalties for that because all I got was free pictures but my buddy who’s the photographer is still making royalties off pictures that he took several years ago so if you have a knack with a camera and love to take pictures of people things whatever consider using I stock or any stock photography service alright number five is for all my artists out there and this is something that’s not me because I’m definitely musically challenged so there’s this cool service called patreon and for any artist that has a community a growing community and you want to get paid for your work and you have a computer if people that love your art whether that be your drawings your music whatever that art may be and each time that you release a new item you can get paid a fee for that and you get to determine what that fee is so let me give you a few examples of some friends of mine that have really took an advantage of patreon a good friend of mine Evan burst also known as the cartoon block is a very popular artist and has a thriving YouTube channel and he loves showing people how to sketch superheroes so with patreon anytime that he creates a new image a new sketch his community will pay him a fee every time that he releases a new image talk about getting paid for what you love to do another good friend of mine Chris Greenwood a musician and in the band manifest gets paid by his community every time he releases a new music video see these are things that these artists were doing anyway but now instead of just releasing something and hope that somebody will discover it or that you hope that you might get paid for your work with your community that is looking forward to the next piece of art that you’re going to release you’re going to get paid and they’re excited to pay you check out patreon.com/crashcourse the cool thing the book has been out for almost four years and guess what I’m still getting paid on sales I can log on Amazon and see how many cells of my book are occurring each and every week but maybe you’re not ready to do a physical book you can also sell an e-book there are tons of authors that release books all the time on Amazon writing and publishing books in the Amazon Kindle program is so much easier than it ever was so if this is something that you want to do think about it very hard another blogger that I know in the personal finance space named Mike Piper blogger and oblivious investor calm is making over six figures a year from his ebook that he sells and guess what he doesn’t have a ton of ebooks but he has enough and the ones that he does sell yields have over six figures every single year as you can see writing a book whether it be a physical book like soldier finance or an e-book can be very lucrative you just have to get the book done and get it out there alright number seven about to get physical physical about to get physical [Music] okay so maybe not that kind of physical but we’re talking about physical products so this could be a variety of things this could be t-shirts mugs blankets it’s amazing what you can create and sell online especially with the Amazon FBA program but maybe you don’t want to go that route and you actually do have a physical product that you want to sell one of my most favorite success stories is Steve Chu from the blog my wife quit her job calm so with Steve’s case his wife is getting ready to quit her job a six-figure salary living in Northern California and he wanted to find a way that he could replace that so she could still spend the time with their kids but also not lose out on the income so what do they do they created a digital online store selling physical products in this case it was handkerchiefs you could check out his side at bumble bee Linda’s calm and see everything that they sell now their store has evolved a lot from the handkerchief so they offer a lot of different things but here’s the cool thing about that story within the first year of launching their online store and selling these physical products they’ve replaced his wife’s income over a hundred thousand dollars did you hear that a hundred thousand dollars after the first year of opening their doors that’s amazing and the best part it is passive income all right on to number eight let me tell you a number a it was one that didn’t work out quite well for me but I know it’s worked out for a ton of other people so where does this one real estate now there are many ways that you can get involved in real estate you can flip houses you can buy them and sell them wholesale or you can become a landlord and have tons of rental properties and that’s the path that I started but when I started down that path I realized I had no idea what I was doing now thankfully I didn’t lose my butt on that investment but it did allow me to explore other passive income ideas and I’m currently implementing but let me tell you I have a local friend here who is in his early 30s as making over two hundred fifty thousand dollars a year from his real estate properties he has a lot that he does flip but he has a good chunk of his real estate portfolio that is completely passive I will tell you if you want start getting involved in real estate make sure that you have a good mentor because you can lose a lot of money very quickly if you don’t know what you’re doing so if you’re not completely comfortable investing into physical real estate there are other options one option are real estate investment trusts which you can buy through ETFs other options include sites like fundraise comm so with fund rise they will take your money and you’ll put that in a pool with other real estate investors and then somebody’s in charge of choosing those physical locations for you so that way you’re not in charge of picking those locations or having to collect rent and making sure that they’re taking care of the upkeep on those buildings all you do is sit back and collect the interest and dividends either which way that you look to explore in a real estate is going to yield you some sort of passive income passive income idea number nine take a seventeen so if you’re comfortable putting yourself on the world getting in front of a camera kind of like I’m doing right now you can publish content to youtube and sit back and make money so how exactly are you making money on YouTube the most easiest way is the ads that you see you know those annoying skip your ads the first five seconds every YouTube video that you watch yeah those ads anyway YouTube publishers get paid anytime that you watch any of their videos so YouTube is always looking for content creators that are willing to put in the time and effort to create good video content one of my favorite local stories here is Emily from Beauty broadcast when she started her YouTube channel showing her community how to apply makeup she started making a little bit of money with the ads from her videos the next thing you knew those ads kept increasing as her viewers gained and her subscribers gained fast-forward two three or four years later she was able to quit her day job because she was making more money than her day job with her YouTube videos now she makes almost six figures every year just by putting on makeup every single day it’s pretty sweet I like it I don’t really wear makeup but you know whatever it works so whether you want to create makeup videos prank videos or crazy workout videos if you’re willing to put in the work and upload those to YouTube you can get paid alright number 10 and number 10 is definitely one of my favorite because it’s near and dear to me but it is blogging so I started my blog back in July of 2008 goodfinancialcents.com Hollow and I’m still amazed at not only the amount of money I’ve been able to make for my blog but just all the connections I’ve made with so many amazing people over the years now my blog brings in over seven figures a year what and most of it is passive yes like a landlord it does take some upkeep and there are things we have to do but I put in very little work for the base that I built up over the years you can check out other bloggers like pat flynn from smart passive income comm or food bloggers Lindsay and Bjork Ostrom from pinch of young comm and even my wife Mandy from house of rose blog comm all these bloggers are making really good money and most of them are from blog posts that they wrote over three years ago it’s amazing a is almost completely passive if you’re interested in making your first $1,000 from blogging be sure to check out my free email challenge to make one cake challenge you can check out more details that make 1k challenge calm in this challenge I show you how to start your first blog publish your first blog post and give you behind-the-scenes peek of how I made my first $1000 yes it can be done so go check it out and make one cake challenge calm alright here is the last one and I know if this is my favorite but it definitely is one that I’m pretty excited about so what is it what I’m talking about here is creating your own online course now this is something that I fought for ever I’ve always want to create a course but I kept struggling with what do I want to create what’s the idea who are the people that I want to serve and I kept coming up with idea after idea after idea but unfortunately I never actually launched any of those ideas let me tell you to make passive income you don’t make money up ideas you make money off implementing those ideas finally about two years ago I released my first course the online advisor growth formula in this course I’m showing financial advisers how to use online marketing to grow their businesses I launched that course last year and I’ve created the course I recorded all the videos now what I do is market which most of it is automated using Facebook ads and email marketing last year we made over a hundred thousand dollars off that course all because I took an idea and actually implemented it this year we’re on track to beat that by at least fifty percent if not double it now remember I’ve already created the course this is not something new that I have to redo or reshoot all the information is there now it’s just a matter of getting that course in front of the right people that are wanting to buy it out of all the ideas I’ve shared with you I love the creating the online course idea the most because the margins are ridiculous if you’re selling a course for $1000 your cost in that course may only be a hundred bucks 200 bucks but as you go along and make more sales your margin decreases which means your profits increase so you start making more money and more money and more money and guess what is completely passive now as you can see there are a ton of passive income ideas you can start I’ve only shared eleven with you here today on my blog goodfinancialcents.com I share 25 passive income ideas that you could start in addition to the eleven I shared here today now we’re constantly adding that blog post so if that number is bigger by the time you actually watch this just know that we must have found another great passive income idea then we’ve add to that post alright now I want to hear from you what passive income idea have you implemented how much are you making how long did it take until you start earning passive income I want you to share with the DFC community so others can benefit and start making some real passive income let’s go make some money jeff rose from goodfinancialcents.com take care alright on to passive think I so I had the wonderful hen [Music] barring services starting over I mean that’s that doesn’t make sense why you said [Music]