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Another investment that I emphasized recently was p2p lending through Lending Club. Ive been investing in p2p for a couple of decades now and have reserved returns just under 10%. Now that may not sound fantastic against double-digit stock returns but its double what you get from additional fixed-income investments.
Investing in loans is nothing new. In fact, I guarantee you have money in them via any pension plan or insurance. You see banks sell their loans to investors who need reliable money flow so their biggest buyers of loans are pensions and insurance companies.
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I average just under 10% annually on the loans so about $1,000 on every $10,000 invested. Now thats a year so youll need a bit invested to make that $5,000 per month but even a small portfolio will constantly be putting cash in your account. You receive paid principal and interest monthly on your loans so its a fantastic cash flow investment. .
What I enjoy about p2p investing on Lending Club is your websites automated investing instrument. You pick the standards for loans in which you want to invest and the application does the rest. It will look for loans daily that meet those factors and automatically invest your money. Its important because youre collecting money on your loan investments every day so you want that money reinvested as soon as possible. .
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The automated investing instrument on Lending Club makes the investment entirely passive. I could only check in on my account once a month or even less often. I know that program is going to keep investing my money for a secure and passive return.
Our next passive income idea is another twist on crowdfunding known as Patreon. The website is promoted as a crowdfunding website for creative people like artists and writers but really its own for anyone with a side-hustle idea.
Patreon is really how the arts used to work hundreds of years back. Back during the renaissance, artists used to ask the rich for their patrons to support their work through regular contributions.
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So now the website Patreon provides you the opportunity to get patrons to your own works. You construct a community of individuals interested in your work, another use of a blog that will double-duty for this passive income strategy, and then request them to make contributions each time you create something. .
Now patrons dont come away empty-handed, you offer rewards and copies of this work. So to get a writer, you might offer copies of your own books. You can promise to publicly thank patrons on your site or to promote something of theirs in the long run.
Even if every patron only contributes a very small amount each month, it can still be a massive source of income. Have a look at the Patreon site for Kinda Funny, an internet video company. They've over 6,209 patrons which means an average of only $3 a month are a monthly income of almost $19,000 plus they get cheerleaders which are always happy to spread the word on their brand. .
Our past passive income source is creating your own brand and selling via Amazon FBA. This really is one of the most exciting income ideas Ive seen in years. Amazon FBA makes it effortless to start your own retail company, to sell your own products.
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It was that you needed hundreds of thousands of bucks for manufacturing, marketing, logistics, everything that went into selling products. With Amazon FBA, you contract with a manufacturer to ship everything straight to Amazon warehouses across the country.
The manufacturer is going to put everything together, pack it and even set your label on it. Then you just run your advertising and sell everything from the page on the worlds largest internet shopping site.
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Ive got a few interviews on the site from people that have started stores through Amazon FBA. A couple of them are making six-figure incomes in less than a year so $5,000 a month is readily attainable in less than that.
Making valid passive income isnt as hard as you may think. Some of the best passive income ideas might take a little time to set up but can start cash flowing within a couple of months and will provide a consistent monthly income for years or more. The most important point is simply to begin.