You can make money by doing almost nothing.
Ideas that require large investments
1. Rent out real estate
Renting out an empty apartment is an obvious idea for anyone who has such an apartment. There are several options for how this can be done.
- Rent out an apartment for the long term. This is a source of stable and fairly high income. The main risk is to find an apartment after the tenants in a condition unsuitable for further living.
- Rent out an apartment by the day. An unstable way, but more profitable than long-term rent. It is better to choose the option in which you provide an apartment to travelers. To do this, you will have to maintain the apartments’ presentation constantly, but the risks are slightly less. If you plan to rent an apartment for daily rent to fellow countrymen, be prepared because it will be rented for noisy parties, after which only the walls will remain the same.
- Rent out an apartment as a commercial property. The dwelling on the ground floor can be converted into a space suitable for a shop or office. If you do it yourself, check the regulations. The tenant can also afford The take on the cost of refurbishing the premises, but this will affect your income.
Not all methods will require additional cash costs. But in this case, your investment is an apartment because you cannot be sure of its safety.
Read also: How to Multiply your Savings: 5 Strategies with Different Risk Levels
2. Put money in the bank
First, you should decide whether you want to profit from your deposit every month, but a little bit, or you will be satisfied with a more significant amount once a quarter, six months, a year. In the first case, a savings account with the ability to withdraw interest every month is suitable. In the second case, choose a deposit with capitalization, when interest is monthly summed up with the main deposit. So, in the end, you will receive a large amount.
It is worth considering that the interest on deposits in Russian banks is not very high. To live comfortably on them, you need to keep an amount of several million on your account. By the simplest calculations, with a rate of 8% from 1 million rubles per month, you will receive only 6.6 thousand rubles. With a similar deposit for a period of 1 year with capitalization in 12 months, you will receive 82.99 thousand.
3. Invest in dividend stocks
You can receive dividends from securities annually, but for this, you need to choose them correctly. First, it is worth focusing on preferred shares and not on ordinary ones; dividends are always paid on the first and the second – by the board of directors’ decision. Secondly, you need to choose promising companies whose profits (and therefore the dividends) are constantly growing.
4. Invest in mutual funds
The meaning of a mutual investment fund is that the investor trusts the company’s specialists with their money, and they do everything possible to increase their investments. At the same time, profitability on mutual funds, as well as on most financial instruments, is not guaranteed. Therefore, it is important to choose a good fund, for which it is worth studying the ratings, reading the rules for entering and exiting a mutual fund, and clarifying all the nuances.
5. Become an investor
Investing in a startup or a growing company is extremely risky; in fact, you give money, and nothing else depends on you. Simultaneously, the organization can “shoot” and become the second Apple or close in six months. However, with some analytical skills, intuition, and luck, you can find a talented startup and get decent royalties from watching its success.
6. Purchase an apartment under construction and sell it after the completion of the object
The difference in the price of an apartment at the excavation stage and commissioning is 15-30%. Accordingly, you can buy an apartment, for example, for 2 million rubles, and after a couple of years, sell it for 2.4 million. This is a variant of fickle but tangible passive income. But it is important to choose a reliable developer not to be left without money in the status of a defrauded shareholder’s status.
Ideas that require minimal investment
7. Rent out a room
If you live alone in a two- or three-room apartment, you have a very beneficial passive income tool. First, renting a room will allow you to share the cost of housing and utilities with the tenant. Secondly, every month you will receive an amount that is enough to survive in the absence of other sources of income.
Of course, living with a stranger in your own apartment is a process for the strong in spirit. But perhaps you are just such a person and this method suits you.
8. Monetize your hobby
If you have a passion that brings tangible results, you can start selling the fruits of your labor. Let’s say you are a talented carpenter and have already presented stools to all your friends, or you like to embroidery but do not know what to do with the finished canvases. You are passionate about the process, and therefore there are more and more finished products, and it is not clear what to do with them.
Create profile pages in social networks and accounts on popular trading platforms, such as Etsy, “Fair of Masters.” There will definitely be someone who will appreciate your talent. But remember, as soon as you start making things specifically for sale, passive income turns into active income.
9. Sell photos
You don’t have to be a popular photographer to sell your images. It is enough to register on one of the photo stocks, such as Shutterstock, Dreamstime, and Depositphotos. Each site has a different entry threshold, but you can choose the one that suits you among the variety of stocks.
Then everything is simple, upload photos and receive royalties for each download of a photo.
10. Create an intellectual product
With the right talent and skill, you can create a product that will be profitable for the rest of your life. Write a book, mobile phone app, or a program that people will love. As an author, you will be entitled to royalties for the use of your intellectual work. The main thing is not to forget to write this item into the contract.
Also read: How to Gain Financial Independence as a Woman
11. Issue cashback
Making online purchases through special cashback services, issuing bank cards with a return of interest on the number of purchases may not bring millions. But you will receive money for purchases that you would have already made. So why miss out on the benefits?
12. Record a webinar
If you have something to teach people, you can record a video lecture or an entire educational course on your topic and then give clients access to it for money. This method is good because it will require only one effort: you will need to compose a handy text and record a video.
It is worth considering that webinars will diverge only if your information is unique, and word of mouth will do the advertisement. Otherwise, promoting the lectures will take a lot of time and money.
Adapted and translated by Wiki Avenue Staff
Sources: Life hacker