Every year, investors spend hundreds of hours online searching for best passive income strategies. Why? The answer is simple, every investor wants to have multiple streams of passive income because, with more passive income streams, the average investor is going to have more time and freedom to live life on their terms.
If you’ve been thinking about starting some passive income streams but haven’t gotten started yet, this article will provide you with a wide variety of tips that you can use to get started with creating passive income streams.
Best Passive Income Streams
#1 – Write An eBook And Sell It Online
One of the first methods that you should consider for generating passive income is to write an e-book and sell it on the internet.
You may be thinking, ‘why should I write an e-book and sell it on the internet when the Internet is just full of eBooks, and some of them are worthless?’ The answer to this question is simple. The internet is literally built on information and just because you may only have experience doing one thing, that doesn’t mean that someone won’t be interested in buying an eBook to learn more about your experiences in that field.
Every year hundreds of people write eBooks and sell them on the Internet. Yes, some of those eBooks will be best sellers and continue generating leads and sales for the writer for years, while other eBooks will quickly fade away.
The key to success with writing a great eBook is to speak directly to your audience, offer a ton of value in the eBook, and hold nothing back.
Sadly, some writers make the mistake of writing eBooks that only up sell to their high-priced offer, or other materials. Don’t let this happen to you! Your eBook should offer as much value to your reader that you possibly can because, if you offer them a lot of value upfront, a reader is going to be more inclined to purchase your high-priced course, or attend your live event, after they’ve purchased and read your eBook.
#2 – Create A Course And Sell In Online
Another excellent way to generate best passive income in 2020 and beyond is to create a course and sell it on the internet.
When creating an online course, the same rules apply as the rules that you should follow when creating an eBook. You have to make sure that you offer as much value that you possibly can in your course and hold nothing back.
After your course is created, you should set a calendar reminder to go back to that course every six months and update it with new material. This is essential because, each time that you update the course, you could start marketing it again and reach a new audience who may have not been familiar with your materials yet.
#3 – Affiliate Marketing
Besides writing an e-book and creating an online course, another great way to start generating passive income is with affiliate marketing.
Affiliate marketing might seem like a ‘mythical unicorn’ to some people but, the reality is that it is one of the easiest ways to make money online, especially when you have an advertising budget to start with because all you have to do is choose a high converting offer and then point traffic to that offer.
If you have no experience with affiliate marketing, your goal should be to connect with a more experienced affiliate marker who can answer your questions and provide you with tips on how to get started.
Thankfully, there are tons of affiliate marketers out there who regularly earn $10,000 or more per month in passive income. If this is something that you want to get started with, you can easily connect with other affiliate marketers through websites like JV Zoo, Commission Junction, Warrior Plus, Facebook groups, or other organizations online where affiliate marketer’s hangout
#4 – Sell Items Online
If you’re the type of person who’s not excited about the thought of creating eBooks, affiliate marketing, or other digital opportunities for creating passive income, the good news is that you could still utilize the internet to create best passive income when you get started with selling items online.
Every year thousands of people around the world make passive income when they sell items online on websites like eBay, amazon.com and Shopify.
As with any other business, before you start selling items online, your goal should be to pick a niche or a specific product that you want to focus on.
Since there are many people already selling items online, your goal should be to figure out what most people are selling and then choose a niche that’s different than what they are doing.
One of the best niches that some entrepreneurs get started with every year is selling luxury watches online.
Yes, there are a ton of luxury watches out there, as with any other product that you may consider selling, so it’s best the focus on one style or brand of luxury watch that you want to sell so you can come an expert on selling that one type of watch.
Are luxury watches expensive? The answer is yes but, they are also in it in demand and it’s not uncommon for some entrepreneurs, investors, business owners and successful people to own at least one luxury watch in their watch collection.
Invest In Multifamily Real Estate
Last of all, but most important, another great way to get started with earning best passive income is by investing in multifamily real estate. This is my favorite way to earn a passive income because this blog is devoted solely to how investors can get started investing in multifamily real estate and earning passive income from it.
The good news about multifamily real estate is that you don’t necessarily have to invest in a multi-family property, at least initially, to earn turn passive income from multi-family.
Thanks to real estate investment trusts, you can easily start investing in multifamily properties without having to hold the property, hiring a property manager, or have any personal involvement with that property.
Besides real estate investment trusts, there are a variety of other ways that you can get started with investing in multifamily properties including crowdfunding. This is another easy way to invest in real estate because there’s nothing that you have to do to manage the property yourself and you can keep your real estate investment a passive endeavor.
Once you’re ready to start investing in multifamily real estate though, it’s best to get started because the market is always changing and the conditions for buying real estate may not ever be this good again.
Before investing in a multi-family property just anywhere, you should take the time to thoroughly research several areas across the United States to pinpoint one or more areas where you would like to consider investing in multi-family properties.
After researching several areas, the next step is to learn more about what’s happening in those areas in terms of local economies, crime, school districts and things to do in those areas.
When you’re ready to start investing, instead of trying to do everything yourself, the next thing that you should do is hire a real estate agent to help you find multifamily properties for sale in your target area.
Hiring a realtor is going to save you the time, money and hassle of searching for properties yourself so that you could focus on your normal date stay duties without having to take the time to find multifamily properties for sale in your target area.
Contact Trier Capital
At Trier Capital, we specialize in sourcing, acquiring and managing multi-family properties across the United States.
Our team of experts to save you the time, money and hassle of searching for multifamily properties yourself so that you can keep your multifamily Investments I completely passive endeavor.
We do all the hard work to find and acquire ideal properties, and then oversee asset management after purchase, while our investors sit back, relax, and receive tax-advantaged passive cash flow.
Learn more about the services that we can offer you contact us today by calling (630) 229-2383 or click here to connect with us online.