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P2P lending can be a bit insecure, but there is potential for a pretty good return on your investment. In case youre interested you should take some time to educate yourself and ensure you understand all the details. Peer-to-Peer Lending 101 from Good Financial Cents is an excellent starting point. .
Real estate crowdfunding websites allow you to invest in real estate without all 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 threat.
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This is a very popular investment because so many men and women want to invest in real estate but dont have enough time or want to become a landlord. Also, in many instances you can begin with a relatively modest investment.
REITs (Real Estate Investment Trust) offer another means to invest in real estate without the hassle of being a landlord. The REIT owns income-producing real estate such as office buildings, apartment complexes, shopping malls, or hotels. REITs make it feasible to invest in real estate on a tiny scale, and also to earn a share of the income generated. .
There are many different types of REITs. Some are publicly traded on a stock exchange, and some are not. REITs may also be in the form of mutual funds or ETFs.
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If youre looking for an easy way to start with real estate investing, REITs can be an excellent choice.
Of course, another option for investing in real estate is your good old fashion rental home. You can purchase a condo, single-family residence or multi-unit home.
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Owning rental properties can be a fantastic source of income, however if not it is really passive will probably depend on a couple of factors. The more properties you own and the more tenants you manage, the longer you'll need to put into it. If you want it to be a passive investment the best option is to hire a property manager. .
Here's a potentially lucrative passive income source that could be totally new to you. You can add authorized users for your own credit cards (without really giving them a card or access to your account) and be paid to do it. People that are looking to improve their credit rating can get a increase in their score by piggybacking from your payment history.
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If youve never heard of selling/renting tradelines until 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. But the procedure only involves adding the user to your account, the card will be sent to your address and you can destroy it.
But, there's still some danger involved. The risk involves the chance of your charge card account being closed by the issuer, because in many situations this will be violating the conditions. Its not illegal, but it will violate the terms 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 people are making good money with hardly any effort. If you want to learn more I recommend reading this thread in Mr. Money Mustache for lots of information from a guy who's making a few 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 can give you a bonus just for signing up and for making a minimum amount of purchases on the card during an introductory period. For 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 make the majority of your purchases with a credit card, then hitting $500 in 3 months is simple. .
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Nowthis isnt something which you can do all of the time, however you can sign up for a new credit card two a year, depending on your situation. Ive made hundreds of dollars each of the previous two or three years with this approach.
Don't go overboard. Opening too many new credit accounts in a short period of time can hurt this page your ability to get credit when you need it.