Are you searching for ways to generate passive income? If so, this is the right thing to be searching for because in 2020 we’ve seen more economic instability than in previous years, and with that instability it’s more important for everyone to have multiple ways of generating passive income.
In this article, I will share with you multiple ways for generating passive income.
Best Ways To Generate Passive Income
Generate Passive Income Online – Since the early days of the internet, thousands of investors around the world have been able to generate multiple streams of passive income online.
Although the internet doesn’t look the same as it did back in 1999, the reality is that many of the same opportunities for generating passive income that existed back then are still alive and well today.
One of the most time-tested methods for generating passive income on the Internet is affiliate marketing. With this method you get paid a commission anytime somebody purchases a product from your affiliate link.
Internet marketers have made tens of millions of dollars for more than 25 years with affiliate marketing promotions.
If you’re ready to get started with affiliate marketing but you don’t know the basics, it’s best to learn how to do affiliate marketing correctly by taking a course or watching a video series before you get started with promoting affiliate products online.
Besides affiliate marketing, some of the other time-tested ways for generating income on the internet include selling products on amazon and ebay, creating and selling eBooks or courses, lead generation, email marketing, and providing digital marketing services for local businesses.
If you’re the type of person who doesn’t have a ton of internet marketing experience, or you don’t exactly know where to start creating passive income streams on the internet, you’re not alone.
The good news is that with the internet, you can get started simply by creating an eBook that will market something that you’re passionate about. This is a time-tested method for generating income online because of the simple fact that if you’re passionate about something it’s highly likely that there are hundreds, if not thousands more people we have the same passion as you.
The key with creating an eBook is to create a book that covers a topic that you’re passionate about because you want to connect with people who would be interested in buying your book to learn from your knowledge and experience.
Invest In An Existing Business – If you’re not ready to get started with creating passive income streams on the internet, the good news that you can still generate passive income by investing in an existing business.
Although this method is by far one of the easiest ways to generate passive income, keep in mind that the business world has changed in the last eight months and businesses that were thriving at the beginning of the year are now struggling or no longer in existence.
Before investing in an existing business, make sure you do your due diligence and thoroughly research that business, along with the industry.
House Hacking – Let’s say that you’ve been thinking about investing in real estate but you’re not ready to purchase your first big property just yet.
The good news is that you don’t have to purchase a large multi-family property, or multiple single-family homes, right away to get started with investing in real estate.
House hacking isn’t for everybody but for the investor who wants to get started with owning real estate, it’s an easy way for them to get their start and also gain experience as a landlord at the same time.
Invest In Real Estate – Besides house hacking, another one of the best ways to generate passive income is by investing in real estate.
In 2020, it’s easier than ever before for anybody to get started with investing in real estate because there is a wide variety of real estate investment opportunities available out there from investing in land lots, mobile home parks, stop storage facilities, or single-family homes.
Over the years that I’ve been investing in real estate, I found that multifamily properties are the best way for any investor to get started with investing in real estate.
With multifamily, investors have the benefit of having multiple units under one roof. This provides peace of mind for an investor because, if one of those units is vacant for any length of time, the investor obviously can have confidence in knowing that the other units in their property are going to be occupied with tenants.
Before investing in an apartment complex, duplex, condo, or triplex, investors should take the time to do their due diligence and thoroughly research the area where the property is located before, they purchase it.
Knowing more about what’s happening with the local economy, real estate market, neighborhood safety, and social/economic issues in the area, is going to help an investor make the best decision when it comes to sourcing the best properties for their real estate portfolio.
Partner With Trier Capital
At Trier Capital, we’re experts at finding and managing profitable rental properties across the United States.
We save investors the time, money, and hassle of having to source, acquire and manage properties themselves so they can focus on earning passive income from these rental properties while we do all the hard work for them.
If you’re thinking about getting started with investing in multifamily as one of the best ways to generate passive income, or you already are invested in multifamily properties but you’re thinking about adding another property to your portfolio, we invite you to contact us today
To learn more about the benefits that we can offer you contact me by calling (630) 229-2383 or click here.