Are you searching for information on how you can make more passive income in 2021?
Now is the perfect time to focus on increasing your passive income because of the simple fact that we are already in April, and 2021 is almost half over.
Passive income is like having Insurance because of the simple fact that everybody knows that they need to have more of it, but, few people take the time to focus on making it.
If you’re ready to get started with generating more passive income in 2021 and beyond, this article will provide you with tips that you can use to generate more passive income.
Generate Passive Income Online
One of the first things that you should do to generate passive income in 2021 and beyond is to use the internet to create multiple streams of passive income.
Here are some ideas that you may want to consider using to generate income online:
Create An Info Product – The first thing that you should do to create a passive income stream on the Internet is to create an information product.
This could be an audiobook, info course, or e-book on any topic.
Not sure about what type of info product you should create? If you’re the type of person who has never created an info product before, you need to remember that the best information product that you can create should be an info product based upon your personal knowledge.
Never underestimate the things that you know, because, if you’re an expert at one thing, it’s highly likely that there’s going to be somebody out there that would be willing to purchase a course that will teach them what you know.
Affiliate Marketing – Let’s say that you didn’t want to create an information product, the great thing about the internet is that you can also easily generate passive income if you get started with affiliate marketing.
With affiliate marketing, it’s easier than ever before for anyone to generate passive income online simply by promoting other companies’ products or services.
The key to success with affiliate marketing is to choose a product or service that you believe in. This is important, because of the simple fact that if you’re promoting something that you’re not enthusiastic about, it’s going to be hard to earn passive income promoting something that you’re not passionate about.
Create A YouTube Channel – Another excellent way to generate passive income on the internet is to start a YouTube channel.
Thousands of people get started on YouTube every single year because it’s a great way to promote something that you’re passionate about and eventually generate income from the videos that you post.
If you decide to move forward and create a YouTube channel, keep in mind that it takes time to build a channel with a following that earns income.
The great thing about making money on YouTube is that there are tons of other people doing.
Before moving forward with creating your channel you should take heart in knowing that it’s never been easier to create a profitable Channel on YouTube since there’s other people that you can learn from.
Leverage Resources That You Already Have
Besides the internet, another excellent way to earn passive income is to leverage resources that you already have.
For example, if you own your own home, one of the best ways to generate passive income every month is to rent out one of the empty bedrooms in your home.
Let’s be real, being a landlord isn’t for everybody, especially when you have to be a landlord in your own home and be willing to fulfil all the responsibilities of a landlord, so it’s important to consider this before you decide to rent out that empty bedroom to a college student, single person, or someone that you don’t know.
When you rent out an empty bedroom in your home can earn up to $1,000 per month in passive income, becoming a landlord isn’t going to be for everyone. If it’s the case with you, you may want to consider some additional ideas that I have but you can use for earning passive income including:
Advertise On Your Vehicle – This is by far one of the oldest ways to earn passive income because there’s nothing easier than placing an advertisement on your vehicle and having it essentially become a billboard that will be visible anywhere you drive.
Invest In Multifamily Real Estate In 2021
Since this blog is dedicated to multifamily real estate, the best method in my opinion for earning passive income in 2021 and beyond is by investing in multifamily properties.
When you invest in a duplex, triplex, four-plex, or apartment building, you can earn consistent passive income from that real estate every month.
Even though some investors will tell you that investing in single-family homes is more ideal, the reality is that multi-family properties are a better investment because, more doors, equals more income.
Vacancies are not a major issue with multifamily properties because when you have one vacancy with a multi-family property you can have confidence that your property is still going to be generating income on a monthly basis, compared to you a single-family property that will not continue generating income when you have a vacancy.
Contact Trier Capital
At Trier Capital we are a private equity firm that makes it easy for you to passively invest in lucrative apartment building syndications.
If you’re an accredited investor who is ready to invest in multifamily properties, learn more about the benefits of investing with us by calling 630-229-2383 or click here to connect with us online.