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P2P lending can be somewhat risky, but there is potential for a fairly good return on your investment. If youre interested you should take the opportunity to educate yourself and ensure you understand all of the particulars. Peer-to-Peer Lending 101 from Great Financial Cents is an excellent starting point. .
Real estate crowdfunding websites enable you to invest in property without all of the headaches that typically go along with owning real estate. You dont have any of the work, you merely invest and take on some of the risk.
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This is a really common investment because so many people want to invest in real estate but dont have enough time or want to become a landlord. In addition, in many cases you can get started with a rather small investment.
REITs (Real Estate Investment Trust) provide another way to invest in property without the hassle of being a landlord. The REIT owns income-producing real estate such as office buildings, apartment complexes, shopping malls, or resorts. REITs make it possible to invest in real estate on a small scale, and also to earn a share of their income generated. .
There are several different kinds of REITs. Some are publicly traded on a stock exchange, and a few are not. REITs might also be in the kind of mutual funds or ETFs.
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If youre looking for an easy way to get started with real estate investing, REITs can be an excellent option.
Of course, another option for investing in real estate is your good old fashion rental property. You could purchase a condo, single-family residence , or multi-unit property.
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Owning rental properties can be a great source of income, but if not it is really passive will probably depend on a few factors. The more properties you own and the more tenants you manage, the more time you'll need to put into it. If you want it to be a passive investment that the best option is to hire a property manager. .
Here's a potentially rewarding passive income source which could be totally new to you. You can add authorized users for your credit cards (without actually giving them a card or access for your account) and be paid to do it. Individuals that are looking to improve their credit rating can find a boost in their score by piggybacking off of your payment history.
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If youve never heard of selling/renting tradelines before it probably sounds ridiculous and dangerous. The first concern usually involves putting yourself at risk for adding an authorized user that you dont know and hope. However, the process only involves adding the consumer to your account, the card will be sent to your address and you can ruin it.
However, there's still some risk involved. The risk involves the possibility of your charge card account being closed by the issuer, because in most situations this will be violating the conditions. Its not illegal, however it does violate the details of the charge card companies, so they can close your account if they know you are doing it. .
Its definitely not for everyone, but a few folks are making good money with very little work. If you want to learn more I recommend reading this thread at Mr. Money Mustache for tons of details from a man who is making a couple thousand dollars per month with this and its quite passive. .
One of my favorite, simple ways to make money is by way of credit card bonuses. Many credit cards will give you a bonus just for signing up and for making a minimum amount of purchases on the card during an introductory period. As an example, right now Chase is offering a $150 bonus if you sign up for a Chase Freedom Unlimited card and spend $500 on the card within the first 90 days. If youre like me and you anchor make the majority of your purchases with a credit card, then hitting $500 in 3 months is easy. .
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Now, this isnt something that you can do all the time, but you can sign up to get a new credit card two a year, depending on your situation. Ive made hundreds of bucks all the previous two or three years using this approach.
Don't go overboard. Opening too many new credit accounts in a brief time period can damage your ability to get credit when you need it.