What does your mind conjure up when you hear passive income? Is it relaxing on the beach sipping on a freshening beverage while making money? Or, if you’re not a fan of sand, is it making money while jet setting across the world, hiking, playing with your kids, or even when you’re sleeping?
While not exactly wrong, a passive income is simply making money without having to trade your time. But, don’t get fooled into thinking that this is some get-rich-scheme. The only way that you’re going to earn this money is after you’ve put in the time and effort.
Think of it like when an artist collects royalties on a song. They still had to write, record, and release the track before they could cash in on it.
Another misconception regarding passive income is that you can just set it and forget it. In reality, you’re still going to have to market and maintain your income. If not, how will you be able to attract new customers and remain relevant?
If you do all the above, then it’s totally possible to make money on a constant basis without breaking your back. What’s more, with this additional stream of income you can finally achieve financial freedom. And, the barrier to entry is low enough that anyone can earn a passive income.
I should also add that when it comes to earning a passive income, it’s usually through the following four types:
- Buying cash-flowing assets. Arguably this is the most common type of producing passive income, such as real estate or investing.
- Building assets. These are products or services that you create or build, think creating a course.
- Sharing or selling assets. Here you would turn the things that you already own into income-producing capital.
- “Reverse” passive income. This type is when you reduce spending. After all, a penny saved is a penny earned.
To help you get started, here are 101 passive business and income ideas that you can begin exploring today.
1. Amazon FBA
“Amazon offers a couple of different fulfillment strategies,” explains Serenity Gibbons in a previous Due article. “One is their Fulfillment by Amazon platform – also known as FBA. The other option allows sellers to fulfill their own orders. Each method comes with its own pros and cons.”
“The major benefit of using FBA is that you don’t have to worry about a thing,” adds Serenity. “Amazon stores your inventory and does all of the picking, packing, and shipping. They also provide tracking numbers, handle returns, and deal with customer correspondence.” Just be aware that you will “have to pay for this service, which can eat away at your profits.”
2. Arcades
Believe it or not, arcades are still popular — escipically if in a tourist location. Moreover, thanks to VR, arcade businesses are set for a revival. Even if you don’t want to go all-in on an arcade, you could purchase a game and place it where your demographic hangs out, such as a pizza shop.
3. Art Investor
If you’re a collector and have a knack for knowing which artists and pieces will be valuable this another excellent way to earn a passive income. Head over to Masterworks if you’re interested in investing blue-chip art.
4. ATMs
You’re going to have to check the laws in your state first. But, buying an ATM and placing it in the right location is a convenient way to make money without much effort. Check out ATM Brokerage if you want to pursue this idea.
5. Audiobooks
If you’ve published a book, why not tap into a larger audience by offering an audio version? You can easily do this through the Audiobook Creation Exchange.
6. Become a Brand Ambassador
Are you a passionate fan of a particular brand, product, or service? Are you active on social media and have a decent following? If so, you can earn cash representing your favorite companies either in-person or online.
7. Become an Angel Investor
As long as you have the capital and believe in the business, then you could help provide support for the start-up. In exchange, you would receive convertible debt or ownership equity.
8. Become a Notary
You probably can’t make a living being a public notary. However, you can earn extra money as a public notary. For example, if you’re a field inspector, wedding officiant, virtual assistant, or personal concierge then you could expand your business offerings.
9. Build Static Guide Websites
To get too hung up on the name here, this is simply a website containing an all-in-one guide for a specific niche. Travel is the perfect example here, like hotels or activities if visiting Austin, TX. From there, you would reach out to relevant businesses to see if they would purchase direct advertising on your site.
10. Buy and Sell Domains
The idea is similar to flipping houses. You purchase a domain or website, improve the design, add content, and then flip it after it’s value has gone up. You can visit marketplaces like Flippa and Trademysite to get the ball rolling.
11. Buy an Existing Business
Whether if it’s a franchise, like a fast food joint, or a local small business, this is a simple and effective way to generate a passive income. The main perk is that most of the legwork has already been done. And, you probably already have a built-in customer base.
12. Buy Royalties
Personally, I think this kind of messed up. Take for example when Sony purchased Michael Jackson’s music catalog. Not only did it contain his work, but since Jackson owners the rights to The Beatles and Bob Dylan, this was definitely worth the investment for Sony.
If you don’t have a problem with this, you can use marketplaces like Royalty Exchange to sell and buy royalties.
13. Cancel Unused Memberships/Subscriptions
Obviously, this isn’t a business. But, it’s one of the easiest ways to save money — which can then by part towards your debt or future ventures. So, if you aren’t going to the gym or no longer reading a magazine, cancel them as soon as you can.
14. Car Wash
It’s totally possible to start your own basic car wash. You really just need some cinderblocks, a pressure washer, and a coin operator. If that’s too expensive or not permitted, pivot to a detailing company that you can do on the side. Better yet, pay someone else to put in the elbow grease.
15. Certificate of Deposits (CDs)
All this involves is putting your money in a high-interest savings account. You might not make a fortune. But, it’s one of the safest ways to earn money over a specific amount of time.
16. Coffee Carts
Besides the low startup costs, this is a flexible business idea that is also profitable — the profit margin can range between 60% to 80%. Furthermore, you could hire someone to manage the cart when you’re not available.
17. Create a Blog
A tried and true passive business idea if you’ve ever come across one. It’s going to take time to develop your site and gain a following. But, when you do, you can earn money through ads, affiliate marketing, or even selling your own merch.
18. Create a Comparison Site
Also known as a price comparison site (PCW), this is where you have a site that compares products or services. Ideally, this would be for a niche, like wine or video games. You make money from Google ads, PPC, commissions, or brand advertising.
19. Create an Alexa Skill
If you have the know-how, then you can build Alexa voice apps, called “skills.” What’s great about this is that you can name your own price and even keep 70% of the revenue. Nick Schwab, for instance, created a free ambient noise skill. Eventually, 10,000 people paid for the subscription version which costs between 99 cents and $1.99 a month.
20. Create a Print on Demand Online Store
As long as you have the talent, you can design custom graphics and then have them placed on t-shirts, mugs, phone cases, or what your heart desires. The best part about this is that you can put up a ton of designs onto sites like Cafepress and leave them up until someone buys an item.
21. Create Lead Capture Websites
The concept here is simple enough. Just create a highly targeted site that can deliver quality leads. For example, you could put together a directory of local dentists. Because you’re bringing in new customers, you’ll be compensated — in some cases, people have made thousands of dollars doing this.
22. Crowdfunded Real Estate
There was a time when this was reserved for serious investors with disposable capital. Thanks to sites like Fundrise, DiversyFund, and CrowdStreet anyone can now invest in commercial or residential properties.
23. Customer Interviews
Are there products that you’ve tried? Why not get paid for sharing your feedback? Sites like Swagbucks, InboxDollars, UserTesting, and Vindale Research will do just that. Or, you could write reviews on your own blog and make money through affiliate links.
24. Cut Your Insurance Costs
We’re creatures of habit. As such, we just keep paying our bills without questioning the amount. Case in point, your car insurance.
Between fluctuating rares and the fact that your vehicle depreciates annually, you may be paying more on your insurance then you have to. I noticed this several years ago, did some comparing, switched over to Progressive where I’m now saving hundreds of dollars per year.
25. Develop a Smartphone App
Whether you have the coding skills or not, it’s never been easier to develop an iOS or Android app and make money off of it. However, you have a better shot if you have an established following or creating a derivative app — this is an app that’s similar to a popular app but has a unique spin.
What if you don’t know how to code? You could sign-up for a class for a couple of hundred bucks. Or, you could outsource your idea to a skilled professional.
26. Develop Software
To be fair, this is a broad term that could include mobile apps, WordPress plugins, or SaaS. Whatever digital property you roll with, you can make money off of subscriptions or reseller licensing fees. And, just like with developing an app, if you aren’t technically inclined you can outsource this.
27. Dividend-paying Stocks
A tried and true way to earn a passive income has been purchasing stocks. In particular, dividend stocks is when you invest money into a company’s stock. You’ll then receive a regular payout. If you’re new to this game, M1 Finance is a good starting point.
28. Dropshipping
Dropshipping has been all the rage for the last couple of years. And, it’s easy to see why. It doesn’t require much capital, it’s easy to start, and you don’t have to keep inventory on hand. That’s because while you’re selling products online, they’re going to be shipped directly from the manufacturer.
29. Earn Cashback While Shopping
While not the biggest moneymaker, this is one of the easiest ways to earn a passive income. For instance, if you use your credit card for groceries or travel you’ll receive rewards in the form of cashback or gift cards.
Even better? Pair that with a cashback app like Wikibuy or Fetch Rewards you’ll score even more rewards. And, they also help you find deals and coupons so that you’re saving money too.
30. Earnings from Memberships and Subscriptions
There are several ways to go about this. You could launch something like a subscription box service or an exclusive membership site. If you have an existing business, you could expand it. For example, if you’re a gym owner, you could have a virtual membership option so that customers can unlock exclusive workouts whenever they want.
31. Enter the Cannabis Industry
Because of the rapid legalization and destigmatization, this emerging industry could also be profitable. In fact, the U.S. cannabis industry is already worth tens of billions of dollars. If you want to capitalize on this, you can pursue ideas like cannabis advertising, public relations, blogging, social clubs, or subscription services.
32. Franchise Your Business
When you think of franchises your mind probably thinks of large, national chains. The act of the matter is that if you have a successful business, you can franchise your business — regardless of its size. Just make sure to seek out plenty of legal advice and carefully vet your franchisees.
33. Freelance Graphic Design
As previously mentioned, as a graphic designer you could place your designs on products and then sell them online. But, you could also showcase your talents on sites like 99Designs and get paid for designing logos. Over time, you may be able to negotiate royalties and licensing fees for your work.
34. Index Funds
“An index fund is a type of mutual fund whose holdings match or track a particular market index,” explains Kevin Voigt for Nerdwallet. “It’s hands-off, and you could build a diversified portfolio earning solid returns using mostly this type of investment.”
Overall, this is a simple and safe way of passive investment as it diversifies your portfolio. Additionally, indexes tend to rise over time.
35. Instagram Marketing
With over a billion monthly active users, along with an advertising audience of more than 849 million, this just makes sense. Of course, it’s you’re not going to make money as an Instagram Marketer overnight, but if know your audience, build your brand, and create engaging content it’s possible.
36. Install Apps on Your Phone
According to the Penny Hoarder, they were able to snag $395 just for downloading apps. These included the Nielsen Mobile Panel, Placed Panel App, Media Insiders App, and Screenwise Panel.
37. Interest Paying Bonds
Bonds not only diversify your portfolio, but they can also calm volatility. Best of all? It’s easy and cheap to get started. In fact, through Worthy Bonds, you can expect a return of 5% with a minimum $10 investment.
38. Inventory Investment for Small Businesses
Thanks to sites like kickfurther.com you can help companies meet their inventory needs. You’ll get a return once they turn a profit.
39. Invest in a Food Truck
I’m a big fan of food trucks. Unfortunately, I don’t possess the culinary skills required. I do, however, have a friend from high school who does. And, if he ever wanted to launch his own food truck business, I wouldn’t hesitate in becoming an investor.
40. Invest in Coins and Collectibles
Hobbies such as collecting Buffalo nickels and vintage comic books can be exhilarating. While not everyone’s cup of tea, most collectors don’t take the easy way out and simply purchase the item. They go on a treasure hunt by frequenting yard sales, flea markets, and antique shops. Eventually, if the demand is there, these items can become valuable commodities.
41. Invest in REITs
It’s estimated that 87 million Americans own real estate investment stocks. The reason? They can diversify your portfolio, are easy to sell, and can typically generate competitive total returns. Mainly this is because REITs are required to return over 90% of their earnings to shareholders.
42. Invest in Timberland
I’m not referring to the retailer. I’m talking about actual timber like pine and walnut. It’s going to take a lot of patience. But, if done right, you can purchase timberland for $100-500 per acre and harvest it for $500-2,000 per acre.
43. Launch an eCommerce Store
Perhaps one of the most popular ways to earn a full-time income these days is through an online store. When setting this up you do have several options. These include a private label Amazon store, dropshipping, using a platform like Shopify, or selling items on your own site.
While this involves a lot of research and time building up your store, once it takes off, it’s a surefire way to acquire a passive income.
44. Laundromat
Some may argue that this teeters on starting an actual business. However, depending on where you reside, you may be able to get up and running for just over $20,000. After that initial cost, you really just need to hire someone to collect money or manage the laundromat.
45. Lease Equipment
An aging family friend could no longer keep up with his large farm. So, he decided to scale back and focus on a couple of acres instead. As for the equipment he was no longer using, he leased it out to fellow farmers. It was a win-win for everyone involved.
But, what if you don’t have the equipment to lease? Do a little brainstorming. For instance, if you have furniture, you could lease it out when a realtor needs to stage a home.
46. Lend Money to Small Businesses
While there is certainly risk involved here, and you need to work out the legalities, this could be a viable business option. In particular, local small businesses who are in need of a loan but are having difficulty securing them through traditional lenders.
47. License a Product Idea
Do you have a killer product idea? If so, you may want to partner up with an existing party who have the resources to get it into the hands of customers. In return, you’ll receive a share of royalties without having to build a business from scratch.
I recommend you read this article from Startup Nation that has some pointers on landing a product licensing deal.
48. Local Business Consultant
Are you an expert in a particular field? If so, you can become a business consultant, like educating businesses on how to become more eco-friendly. You could also sign up on platforms like Clarity where you can be paid for your expertise virtually.
49. Look for Discounts and Freebies
Yet another way to save some dough. Best of all? You can obtain these if you’re a student, senior citizen, healthcare worker, or serving in the military. You can even snag some freebies just for being born.
50. Lose Weight
What’s the point in obtaining a passive income if you’re not healthy enough to enjoy your new-found freedom? Of course, losing weight can be a challenge for a lot of us. Thankfully, you can find the motivation to do so by getting paid to lose weight through Healthy Wage, DietBet, and Achievement.
As an added perk, you may even save some money by cutting back on purchasing junk food.
51. Manage an Apartment Building
Obviously, this isn’t going to be an option for the average investor. But, if you have the capital you can definitely make some decent coin if you own an apartment building. Best of all, you can hire someone to keep the property running smoothly.
52. Manage Social Media Accounts
To make this a profitable endeavor, I would focus on small businesses. Even though they know the importance of having a social media presence, they just don’t have the knowledge or time. As such, they could hire you to take care of this for them. And, thanks to tools like Hootsuite and Sprout Social, you can automate many recurring tasks.
53. Micro-investing
You probably won’t make a fortune going this route. But, with apps like Acorns, you can automate your savings and investments without lifting a finger.
54. Mineral Rights
As you might have guessed, this is when you would buy and sell mineral rights to coal, copper, diamonds, oil, and gas. Just make sure to do lots of research because this can become incredibly complex. As such, I recommend you review this article from Geology.com if you’re interested.
55. Multi-family Rental Properties
You don’t have to become a full-fledged landlord here. But, if there is a duplex, triplex, or quad available, you can purchase it and make a decent passive income without spreading yourself too thin.
56. Multi-level Marketing
Is this a divisive entry? Absolutely. Some argue that MLM is a pyramid scheme, while others insist that it’s a flexible and passive business idea. As long as you aren’t doing anything illegal or unethical, it’s possible selling products that you enjoy to your personal network.
Just be aware that you will have to put some cash upfront. But, this usually isn’t all that much. And, if you hustle, you’ll be on your way to achieving that passive income life.
57. Music Licensing
If you’re a musician, then you can potentially earn a couple of thousand of dollars by licensing your music to companies like Musicbed or Music Vine.
58. Online Coaching
Whether if you want to help small business owners solve a specific problem or help individuals reach their personal goals, you can create and sell specialized programs for them. Now, you have different models to chose from. These include one-on-one, group programs, courses, or memberships sites. The latter two is where you’ll attain a passive income.
59. Outsource Your Business
As long as your business is a well-oiled machine and you trust your team, then you can outsource most of your daily responsibilities to them. That doesn’t mean that you should be completely hands-off. But, it does give you the luxury to focus on other areas of your personal and professional lives.
60. Paperback Books Sales
If you’ve already put in the work to write and publish an eBook, you might as increase your sales by offering a paperback edition. And, thanks to Amazon’s KDP print service, you can still do this without having a publisher.
61. Participate in a Sleep Study
Here’s what you’ve all been waiting for! Actually getting paid while you sleep. If you want to participate in one head over to ClinicalTrials.gov to see what’s available.
62. Patent Licensing
The idea is pretty simple here. If you have a patent, then you can assign ownership to a third party to make, use, and/or sell your invention. In turn, you’ll receive royalties.
63. Pay Off/Reduce Debt
Sure, this isn’t the most exciting suggestion. But, when you owe less money to credit card companies and lenders, the more money you’ll have in your pocket. You can then use that to put into your savings or invest it into another revenue stream.
64. Peer-to-Peer Lending
Thanks to sites like Prosper, Lending Club, and Funding Circle, you can lend money to individuals. You might want to start off small. But, after you get the hang of this you can expect returns in the 6-10% range.
65. Photo Licensing
If you’re a photographer, then you can sell stock images to Unsplash, Shutterstock, or Dreamstime.
66. Podcasting
If you have the charisma, the right gear, and have something entertaining or informative to say, then you can earn money from affiliates or advertisers through podcasts. If you’re really savvy, you can also sell your products and services.
67. Purchase a Trailer
There’s a negative stigma surrounding trailers and/or trailer parks. However, this is a much more affordable option then let’s say a duplex. Besides, if you could purchase one near popular attractions, like close to the beach, you can make a pretty penny.
68. Purchase Farmland
You need to be a little strategic here. I mean just because there’s an empty plot of land doesn’t mean that it can be used for agriculture. But, if it is, you can rent it out to farmers looking to expand their operations. And, if don’t think that this is popular, just consider that around 39% of all farmland in the United States is rented or leased.
69. Racehorses
I’m not suggesting that you gamble your hard-earned money away at the race track. Instead, consider investing in a racehorse. That may sound pricey, but if you partner up with syndicates like Funky Munky Stable, it will only set you back $1,000.
70. Refinance Your Mortgage
Here we have another entry that may not be considered a passive business idea. But, if you’re able to secure a better rate through services like LendingTree, you’re going to save thousands of dollars off your mortgage. You may even be able to pay it off in a shorter amount of time.
71. Refinance Your Student Loans
Similarly, if you have student loan debt, consider refinancing it. Just like your mortgage, you may be able to save money and pay it off in a shorter amount of time. In fact, as of this writing, student loan refinancing rates have hit a historic low.
72. Rent Our Your Parking Space
I know several people who live in the city who seldom drive their cars. But, since it’s so expensive to keep them in a secure location like a parking garage they turn to alternatives. For example, I know someone who keeps her vehicle at her parent’s home in the burbs.
If you have space, you charge other people to park their cars, RVs, trailers, or whatever vehicles they don’t regularly use. If you want to become a host, check out Stow It.
73. Rent Out Spare Rooms
You don’t need to have a second home or apartment to make money on sites like Airbnb. As long as you have an extra bedroom you can rent it out. If you want to know how much you’ll make, Airbnb has a handy calculator to let you know.
74. Rent Out Your Backyard
I kind of cringe at the thought of having strangers lurk around my place. A compromise is HomeCamper where you charge people to camp out on your property.
75. Rent Out Your Boat
Did you know that through sites like Boatsetter and GetMyBoat you can make anywhere from $230 to $950 per day?
76. Rent Out Your Car
As opposed to driving people around as Lyft or Uber driver, rent out your vehicle via platforms like Turo and Getaround.
77. Rent or Sell Your Unused Stuff
Do you have items lying around just collecting dust? If so, why not rent them out or sell them? You have a wide range of options including eBay, Craigslist, LetGo, or Fat Llama.
78. Rent Out Your Garage or Attic
If you’ve got the extra room, you can charge people money to store their stuff in your attic or garage. Try out a platform like Neighbor to do this.
79. Rent Your Bandwidth
While it’s not much, you can download an app like Honeygrain and make money just by sharing “your unused net traffic with data scientists.”
80. Repackage Your Content
If you’ve been blogging for a while, for example, then you probably have lots of content laying around. While you might be able to make money off affiliate links or ads, you could also repackage it into a more structured product like an eBook, course, or webinar.
81. Robo-investing
As opposed to dishing out fees to a stockbroker, tap into the power of AI using services like Betterment. It’s a low-cost investment option that you can customize depending on whatever financial goals you have in mind. What’s more, platforms like these also offer additional services like no-fee checking accounts and high-yield savings.
82. Save Money on Your Electric Bills
We’ll chalk this up to passive saving and not passive income. Again, though, those savings could be put to better use. Even better? You can an app like Truebill to help you identify recurring subscriptions and negotiate better rates and fees automatically.
83. Savings or Money Market Accounts
If you’re cool about stashing your money away and not thinking about it, these are both excellent choices. They’re both easily accessible, safe, and are essential to any well-rounded portfolio.
Want to know how to find the best debit and card and savings account? Check out this previous Due article.
84. Sell an eBook
Sure. It’s going to take you time to compose your book. But, the process is straightforward. Just book a niche that you’re knowledgeable in, write your book, and self-publish it on platforms like Amazon. You’ll have to do some marketing as well, but it’s well-written and unique, this is the gift that keeps on giving.
85. Sell an Online Course
“Creating a course is one way to diversify your income,” wrote Taylor Gordon in another Due piece. “If you’re making money from a business, there’s a good chance you have something to teach that people want to learn.”
To get started, choose the right idea. It should be something that you’re familiar with and people are interested in. From there, outline your course, test market, choose a platform and promote the heck out of it.
86 Sell Digital Files or Guides
Here’s why I really dig this idea, the possibilities are endless. You could sell plans on how to build a throwing ax target, creating a monthly budget, or custom graphic designs. One example of how this is done is Teachers Pay Teachers that sell a wide range of digital activities and resources.
87. Sell Retargeting Advertisements
“There’s no doubt about it, remarketing is pretty darn impactful. It gives you the opportunity to show ads to a perfectly primed audience—people who have already visited your site—and nurture them into completing a conversion or coming back to make another purchase,” writes Erin Sagin over at WordStream. “On average, retargeting ads are 76% more likely to be clicked on than a regular old display ad.”
The problem is that instead of “reusing eye-catching image ads that you’ve designed for your standard display campaigns,” advertisers aren’t going the extra mile. Sagin suggests that you “craft creative ads connect specifically with your retargeting audience. With just a little more attention to detail, you can get even more leverage from retargeting ads on Google or Facebook.”
88. Sell Your Handmade Goods
Perishable items aside, if you have the ability to make handmade products like jewelry, belts, furniture, pet supplies, clothing, or candles make what you can. After that, you can put them up for sale on platforms like Etsy or Shopify.
89. Set Up Your Own YouTube Channel
When it comes to YouTube, you have a variety of options on what type of channel to launch. You could review products, share your opinions, or provide updates in a niche industry. Once you have a following, you can make money from product endorsements.
90. Share Your Data
Let’s be honest. You’re browsing habits are being tracked. I know that there are ways around this. But, honestly, I don’t do anything shady, so I’m not sweating this. Instead, I’m using it to my advantage by getting paid.
If you download their app, MobileExpression will pay you $20 for monitoring your mobile activity. Pair that with a similar app from Nielsen and you can make a couple of dollars for doing something that’s already a part of your daily life.
91. Short Term Rentals
Whether you have a vacation home or will be out of town for a period of time, you can host your home on Airbnb or VRBO for a couple of nights.
92. Single-family Home
A friend from college married someone who was in the military. Whenever they have to relocate, they don’t sell their homes. Instead, they rent them out to others serving in the military. They now rent out a couple of homes and have a cushy passive income. And, because the homes are located near military bases, there will also be a demand.
Even if you aren’t in the military, you can rent out your home if you have to move. Or, you could purchase a place in your neck of the woods. If you have a long-term tenant, you shouldn’t have too many headaches except for the occasional appliance repair.
93. Structured Settlements
Let’s say that someone went to the grocery store, slipped, and injured themselves. They may reach a settlement with the store where they’ll receive a specific dollar for the next several years, like $3,000 for 10 years.
But, what if they need the money right now? You could purchase this from them. As a result, this becomes an annuity to you the investor.
94. Subcontract a Service Business
I would spend some time checking out online reviews and then see if there is an opportunity for you to pounce on. For example, if most of the cleaning services in your area have poor customer service reviews, you could hire people to do the cleaning while you handle the service aspect. Over time, this could be delegated to those who are able to keep the customers happy.
95. Sublease to Housemates
A couple of years back, one of my friends purchased a townhouse. He rented out the other half in order to cover most of his mortgage payment. Even if you don’t have a townhouse, you could sublet that spare bedroom you aren’t currently using.
96. Tax Liens
Here’s how this works, courtesy of Bankrate. “When a property owner fails to pay his or her taxes, the municipality in which the property is located can sell its tax lien — the right to foreclose on a property when the owner has failed to pay taxes.”
As an investor, you can “buy the liens in an auction, paying the amount of taxes owed in return for the right to collect back that money plus an interest payment from the property owner.” There’s a lot of risks and due diligence in this investment, but it can “generate returns ranging from 4 percent to 9 percent a year.
97. Trade Gigs with a Neighbor
Again, this isn’t a business per se. But, it could save you a ton of cash. For example, if your neighbor is an electrician and you’re a mechanic, then you could repair their work truck in exchange for electrical work in your home.
98. Vacation Rentals
My cousin purchased a beach house a few years back. He and his wife rent the house out several times throughout the season. What’s really sweet is that they block out a couple of weeks for themselves. Essentially, they’re bringing in some extra cash and getting a free vacation to boot.
99. Vehicle Advertising
If you don’t mind your vehicle being transformed into a mobile billboard, then you can make cash just driving around. Using a service like Wrapify, you can make a couple of hundred dollars each month depending on how many miles you drive.
100. Vending Machines
Vending machines, like ATMs, can be serious moneymakers if they’re in the right spot. Best of, they require little maintenance. Just make sure to review the laws in your state. If you’re into this, visit sites like eVending.
101. Voice Over Royalties
If you’re already dabbling in voice-over work, then this another way to cash-in on your on golden vocal pipes. In this case, you could be a narrator for an audiobook. The upside is that you can collect royalties without having to author the book. You can find gigs on sites like the previously mentioned ACX.
