Searching for passive income ideas for 2021? If so, you’re not alone!
Most investors across the United States are interested in passive income right now because the average person wants to have more control of their time and freedom, so earning passive income is the best way to accomplish this goal.
In this article, I will offer you several passive income ideas for 2021 that you can use to build wealth, accomplish your goals, and live the life of your dreams.
Passive Income Ideas For 2021
#1 – Invest In A Business As A Silent Partner
One of the best ways to earn passive income in 2021 and beyond will always be to invest in the business as a silent partner.
Although every business has some inherent risk, the reality is that by investing your money in an existing business, you’re going to be able to leverage the hard work of other people while also providing them with the capital that they may need to expand, or keep their business going.
Which business should you invest in? Since the United States is still dealing with the global economic effects of the Covid-19 pandemic, one of the best things that you can do as an investor is invest in businesses that can be classified as being poised for recovery in 2021.
Some of the best recovery businesses that you should consider investing in include hospitality, restaurants, travel, and other entertainment-related businesses.
Even though the Covid-19 pandemic is expected to continue well into 2021, many analysts predict that once the vaccine is distributed across the United States, we could see the country largely start returning to normal towards the middle or end of next year.
Now is the right time to invest in a business as a silent partner! Just make sure that your involvement in the business doesn’t require more than 4 hours of your time each month because the more time you invest in a project, that opportunity can then be classified as ‘active income’ instead of ‘passive income’.
#2 – Peer-To-Peer Lending
Another type of business that you should consider investing in in 2021 is peer-to-peer lending.
This type of business has been around since the beginning of time because there’s nothing older in the world (besides taxes) than the principle of one-person lending money to another.
Thanks to the internet, peer-to-peer lending has been brought into the information age and it’s easier than ever before to get started with this type of business, utilizing tools that are available on the internet.
Keep in mind that with this type of business, people who are interested in dealing with peer-to-peer lenders are most often individuals who need this type of lending as a last resort, so you must focus on researching a borrower’s credit history, and their financials before you choose to lend money to them.
#3 – Create Passive Income Streams Online
Another excellent way to create passive income in 2021 is by investing in online passive income opportunities.
Here are a few excellent digital income opportunities that you can utilize for creating passive income in the coming year.
Create an eBook – One of the first things that you should consider doing to create passive income is creating an eBook and selling it on the internet.
To create an eBook, all you have to have one simple idea then once you have the book laid out, you could outsource the entire creation of that book to a freelancer so you don’t have to do any actual work yourself.
Although eBooks are easy to create, and publish online, keep in mind that you’re not going to be able to generate passive income from your eBook overnight.
As with any product, it’s going to take time the market that product on the Internet so it’s best to create a marketing plan for your eBook so that once it’s published, you know the exact steps that you’re going to take to promote it and make sales.
Affiliate Marketing – Another excellent way to earn passive income in 2021 is affiliate marketing.
Although many people are making money online with affiliate marketing, the reality is that it does take some time to get started with this method of passive income generation because you have to drive traffic to another company’s product or website.
Once that traffic converts into sales, the company that you’re an affiliate for will pay you commissions.
Some investors regard affiliate marketing as being a ‘long game’ because it can take a while to get started earning income, but once you get this method of passive income generation up and running, affiliate marketing can produce consistent income for you every month.
For best results with affiliate marketing, you should consider first taking a course, or connecting with an inexperienced affiliate marketer before you start promoting affiliate products or programs yourself.
Sell Products Online – Since the mid-1990s, another excellent benefit that’s come from the Internet is that it’s provided businesses and average people with a platform for making sales without necessarily having a traditional business.
E-commerce is only continuing to increase, especially during the Covid-19 pandemic. If you’re not currently selling a product online, it’s best to start thinking about either creating a product, or partnering with a company that provides you with a simple and easy to use platform for creating products.
Some of the best products to sell online include t-shirts, collectibles, toys, gifts, and you can also use websites like eBay to sell (flip) items online that you have purchased in the local area.
Invest In Real Estate
Last of all, but most important, my preferred method for generating passive income will always be real estate.
In 2020, there are more opportunities for Real Estate investing than ever before. It’s possible to invest in single-family homes, multifamily properties, commercial properties, land Lots, self-storage, and other forms of real estate across the United States.
As an experienced real estate investor, my preferred method for investing in real estate is multi-family properties.
I encourage investors everywhere to invest in multifamily properties over other forms of real estate because apartments provide steady income, the rental demand is always consistently strong, they carry less risk than single-family and multifamily money is often readily available.
In 2020-2021, multi-family properties are also more in demand than ever before because the average apartment, town home, condo, or other multifamily property includes amenities, an on-site swimming pool, workout area, and a sense of community that cannot be found when someone rents as single-family property.
If you’re ready to invest in multifamily properties but you don’t want to invest the time and money to find the right properties to invest in yourself, I encourage you to contact me.
Over the years, my team has helped hundreds of investors across the United States enjoy the benefits that come from investing in multifamily properties.
At Trier Capital, we are experts at sourcing, acquiring in managing multifamily properties so that our clients don’t have to do any of that work themselves
To learn more about the benefits that come from partnering with us, contact me today by calling (630) 229-2383 or click here to connect with me online.