Passive Income Ideas look too good to be true until you actually get intentional about them and start earning.

How would you love an extra steady stream of income that will not require you to participate actively to maintain?

Everyone has this dream of earning without having to put in too much effort. Imagine earning income while you go on vacations with family, get tanned at the beach, take tea with a book in one hand etc. Is that even possible? 

Are you willing to put in the necessary work to start this up? There are many misconceptions about passive income.

It is not a get-rich-quick scheme. In the beginning, you will have to put in work to research, write great content, set up ads, spend money and many more. 

However, once all these are done, you can sit back and enjoy the fruit of your labour. 

What is passive income?

Passive income is that stream of income that requires little to no effort to maintain. 

It is that stream of income that is not from your 6 am to 6 pm job. It does not require your active participation. 

When a passive income stream is added to your active income, it gives you that financial freedom and security you long for. 

10 passive income ideas to make money

Before deciding the passive income idea(s) you wish to engage in, you might want to consider certain things. 

First, you need to assess your skills. What are your strengths and weaknesses?

Secondly, be realistic when setting your plans and goals. How much time are you willing to invest? How much money can you employ? 

Thirdly, choose something you actually enjoy. This helps you to keep going while you put in the short-term effort for long-term results. 

Here are 10 passive income ideas that will give your financial life a positive direction and turn your dreams of spending money and time with your loved ones into a reality.

• Real estate investment 
• Affiliate marketing 
• Create a course
• Create an app
• Blogging 
• Create YouTube content 
• Invest in dividend stocks 
• Create an ebook
• Airbnb
• Rent out unused spaces like the garage 

Real estate investment 

Real estate investment is normally referred to as the gold mine. It is a secured investment that helps in capital preservation. 

Real estate investing involves purchasing rental properties or real estate to make profits. 

There are several ways to earn a passive income from investing in real estate. They include:

• Renting of properties 
• Home or land flipping; buying of homes to sell them off within 6 months. 
• Investing in real estate investment trusts. They are companies that own several real estate and pay high dividends to investors.

Affiliate Marketing 

Affiliate marketing refers to the process of introducing a product to people and making a commission each time sales are made from your affiliate link.

You can make a passive income from affiliate marketing by attaching your affiliate link to your blog post, social media post and even ads. You get your commission whenever someone clicks on the link and makes a sale. 

While choosing your product to market, make sure it is something that matches your values and provides a solution to the problem of your target audience.

There are several affiliate sites. They include; amazon, ClickBank, awin, aweber, Fiverr etc.

Create a course

This is a great way to make passive income. You have unique knowledge on either a high earning skill, health, travelling etc. 

You can convert this knowledge into a course, audio or video. Once done, you can sit back and watch the money roll in.

However, creating a course serving as your passive income generator will require much effort. 

You have to give values that nobody out there has ever given. 

Create an app

If you are someone with technical skills, you can use that skill to build an app that solves a problem. 

It could be an app that increases the quality of photos, a game app etc. Once the app is built, you get paid whenever a download is made. 

However, if you do not have any technical skills, you can partner with some that do. 

Whatever income is made will be divided between the two of you.

Blogging 

A blog is a website that is regularly updated. It can be used for business or personal purposes.

A person who runs or controls a blog is called a blogger. 

They are people that are willing to share parts of their lives with you, their views and knowledge on various topics. 

Your blog should be about things you are passionate about.

The purpose of a blog is to build audiences. It allows your audience to express their opinions.

To be able to monetise your blog, you first choose a niche, and then you can grow and build a large audience and credibility. 

You can monetise your blog by;

• Selling your own digital products such as ebooks
• Posting your affiliate link to sell affiliate products 
•  Promoting ads
• Post sponsored contents 

Create youtube content 

Another way to create a passive income is by creating great YouTube content and building a large audience.

Building a large audience to monetise your YouTube channel will be time-consuming and require a lot of effort and creativity. 

Creating content based on things you are interested in and enjoy is advisable. 

Steve Jobs once said, “Your work will fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”

 You can generate substantial revenue by building an audience through advertisers and affiliate marketing collaborations.

The amount you can earn with YouTube will depend on your engagement rates, a number of subscribers, viewers, etc.

You can also sell products, work as an influencer etc

Invest in Dividend stocks 

Dividend stocks provide a percentage of the company’s earnings to investors regularly. 

Investing in high-dividend stocks guarantees you a steady stream of impressive income months without you participating actively. 

It’s one of the ways of generating a passive income and having your money work for you actively. 

As the price of the stock increases, you get increased income. 

However, investing in the stock market, as much as it generates high profits, has its risks too. 

Losses are possible. It is important to do research and get advice from experts before investing. 

Create an ebook 

Creating an ebook is a great way to generate passive income. As a writer, you get paid royalties which creates long-term returns. Ebooks allow you to monetise your knowledge. 

The ebook can be based on your experience, your interest etc. You can write about anything. 

You can create “how to” books, cook, life hacks, etc. For your book to get noticed, it must be unique and provide value. 

You can use platforms like amazon kindle direct publishing for free and get 70% royalty for each sale, Smashwords and get a royalty of 60%, draft2digital etc.

Airbnb

This stands for Air bed and breakfast. 

Airbnb is an online marketplace for people to rent out their spare bedrooms in a house or rent short-term lodging, including vacation rentals, apartment rentals, homestays, hostel beds, or even hotel rooms.

There are several ways to make a passive income from Airbnb. They include:

• Airbnb Rental Arbitrage; involves renting an apartment to sublet. 
• Short-term Rental Property Manager
• Become an Airbnb host; it is very rewarding but requires getting a licence. 
• Become an assistant Airbnb Co-host

Rent out your garage 

Do you have a free garage that is not in use? You can rent this garage to people who need it and get paid monthly. 

It is a great source of passive income. 

Conclusion

At the end of this article, we believe that you have your mind made up on which of the passive income ideas to make your passion.

Wishing you all the best!