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Another investment I highlighted recently was p2p lending through Lending Club. Ive been investing in p2p for a couple of decades now and have booked returns just under 10%. Now that may not sound great against double-digit stock returns but its double what you get from other fixed-income investments.
Investing in loans is nothing new. In fact, I guarantee you already have money in them through any pension plan or insurance. You see banks sell their loans to investors that need reliable cash 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 each $10,000 invested. Now thats a year so youll need quite a bit invested to create that $5,000 per month but even a little portfolio will constantly be putting money in your account. You get paid principal and interest monthly on your loans so its a great cash flow investment. .
What I enjoy about p2p investing on Lending Club is the websites automated investing tool. 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 that meet those factors and automatically invest your money. Its important as youre collecting money on your loan investments daily so that you want that money reinvested as soon as possible. .
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The automatic investing instrument on Lending Club gets the investment completely passive. I might only check in on my account once per month or even less 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 website is promoted as a crowdfunding site for creative people like artists and writers but really its for anyone with a side-hustle notion.
Patreon is actually how the arts used to work hundreds of years ago. Back during the renaissance, artists used to ask the rich for their patrons to support their work through regular contributions.
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So now the website Patreon provides you the opportunity to get patrons to your own works. You build a community of individuals interested in your job, another use of a blog that does double-duty for this passive income strategy, and then ask them to make contributions each time you produce something. .
Now patrons dont come off empty-handed, you offer rewards and copies of this job. So to get a writer, you might offer copies of your look at here own books. You could promise to publicly thank patrons on your blog or to promote something of theirs in the long run.
Even if every patron only contributes a very small amount every month, it can still be a massive source of income. Take a look at the Patreon site for Kinda Funny, an internet movie company. They've over 6,209 patrons that means an average of just $3 a month are a monthly income of nearly $19,000 and they get cheerleaders that are always happy to spread the word on their brand. .
Our past passive income source is creating your own brand and selling via Amazon FBA. This is one of the most exciting income ideas Ive seen in years. Amazon FBA makes it easy to start your own retail company, to sell your own products.
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It used to be that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling solutions. With Amazon FBA, you contract with a manufacturer to ship everything directly to Amazon warehouses across the country.
The manufacturer is going to put everything together, pack it and even set your tag on it. Then you simply run your advertising and sell everything from your page on the worlds biggest internet shopping website.
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Ive got a couple of interviews on the blog from people who have started stores through Amazon FBA. A couple of them are making high-income incomes in less than a year so $5,000 a month is easily attainable in less than that.
Making legitimate passive income isnt as hard as you might think. Some of the best passive income ideas might take a little time to install but can start cash flowing within a few months and will provide a consistent monthly income for many years or more. The most important point is simply to begin.