Thoughts - Best And Worst Passive Income Ideas?

[Cole Simpson]

Passive income streams require an upfront investment and a lot of nurturing in the beginning. After some time and hard work, these income streams start to build and are able to maintain themselves, bringing you consistent revenue without much effort on your part. ⁣

For example, if you are a writer interested in writing stories and newsletters, one of the best things about that is that, even when you’re at the gym, working, or sleeping, your writing can still be hard at work, raking in some extra income. The trick is knowing how to play the publishing game. To make a passive income as a writer, you’ll need to plan, have confidence, and have knowledge of your field. Then catch some sleep while your writing catches up!

Here are some passive income ideas for writers: 

Create your own journal - You can create, upload, sell, package, and ship a customer-made journal on Blurb for nothing except a royalty on journals sold. They do all the work you collect the check.

Write fantasy short stories - Using Wattpad you can connect with 80 million readers and find ways to monetize your short stories.

Do a course - Udemy or Coursera allows you to easily do your own course and are the most used.

Newsletters - Essentially you create a newsletter on a niche you are curious about and put it behind a firewall. Subscribe to the Dispatch and a slew of other pay-walled newsletters that are all on Substack.

What are your best and worst Passive income ideas?

[Alex Breshears]

I'm going to tell you my favorite passive income idea is private lending.  I get to work with active investors to help them fund deals, I don't get phone calls at 2am to fix thing, I don't have to pick out paint or carpet colors, it's just easy. There is some upfront work you have to do to vet the deal and the property, but in general, it can become very set it and forget it. My personal mantra is that I invest passively so I can live actively, and private lending allows me to do that!