Passive Income Ideas, Proven 11 Ways to Make $1000+ Monthly

Passive Income Ideas, Proven 11 Ways to Make $1000+ Monthly

Creating passive income takes work, but once you implement those passive income ideas. It's one of the most fruitful income sources that you'll ever have and also very rewarding. In this article, I wanna share my 11 most favorite passive income ideas that you can start today.

First  Passive Income Idea

The first passive income source that you can derive is from investing. I know many of you might think, I don't have a lot of money to get started."

I get it, I was there too.

But, let me tell you, it doesn't take a lot of money to get started.

Whether it be 50 bucks a month, $100 a month, anything that you can start investing, you can start making gains, start making interest off your investment.

So, whether if you're making capital gains off of your mutual funds, your ETFs or your stocks, or if you have dividends that pay out on a consistent basis. These are all sources of passive income that you can get.

If you're not sure where to get started investing, there are a ton of online providers nowadays.

Robo Advisors

There are Robo Advisors such as Betterment, Wealthfront, Acorns, Robinhood, Ally Invest, E-Trade.

If you know nothing about investing and you want somebody to pick those investments for you, that's why I have to recommend Betterment.

Betterment doesn't have any money to start and they will choose an ETF model for you.

So, if you're putting any money in, they're gonna choose those investments and then you'll sit back and start making those capital gains in dividends otherwise passive income.

Now, another form of option that I love when it comes to investing is peer-to-peer lending. I started doing peer-to-peer lending over years ago and it has been one of my most favorite investment classes to put your money into.

Now, peer-to-peer lending is just like as if you're acting as the bank. Instead of somebody going to the bank and getting a loan, you are giving them a microloan. So, you become a financial institution.

And, since these are microloans, you're only giving up about $100 per loan, sometimes less. I don't know if you've ever taken out a personal loan from a bank, but you know how much interest they charge.

So, imagine now you're sitting on the side of the bank and you're collecting that interest. You can check out the two P2P lenders are LendingClub and Prosper.

I have accounts with them both and I really don't have a preference either which one.

Well, I'll tell you, I've been sitting back and earning those interest checks since I've started and I love it.

Second passive income idea

My second passive income idea is taking advantage of deal sites and/or survey sites.

So, sites like Swagbucks, InboxDollars, or MySurvey. Signing up for these sites allow you to do the normal shopping that you do online and make a little bit extra money on the side.

Or if you're sitting on your couch watching Netflix, your favorite TV show or some sports game, if you have your laptop handy, you could fill out surveys as you're wasting time, killing time, and make really good money.

Third passive income idea

This one's a little bit outside the box.

Taking advantage of cash-back reward points. Now, I know, I'm sure you're thinking how is that really passive income?

But, check this out. Before I started using credit cards to pay all of our bills, we used to use debit cards all the time. Because I always subscribed to the idea of like you shouldn't have credit cards because credit cards are evil.

They're not that evil. But, when I started talking to others that were truly taking advantage of all the different reward points that you have to offer. I realized that we were missing out on a ton of free cash.

So, we've started using reward points, specifically for cash back, airline miles, or hotels, anything like that we knew that we'd be using on a frequent basis.

Now everything that we buy, whether it's our cell phone bill, our satellite bill, Netflix, groceries, gasoline, we run all of our expenses through our credit cards and we get back tons of reward points.

Moreover, with these reward points, we've cashed in on airline miles, hotels, and a variety of other things. A couple of years ago, we took our entire family to Jamaica and didn't have to spend a single dime other than some snacks in the airport.

Therefore, using your credit cards to taking advantage of these reward points is so passive because you don't have to do anything. You're doing something that you're already gonna do to begin with. You just sit back and enjoy the cash.

Passive Income Idea Number Four

This is a fun one.

Doesn't really apply to me, well, it happens.

Ah, let me explain.

One of my good friends is a photographer and when he started taking pictures for me, my family and for my business. He asked,

"Okay, I will take your pictures and I won't charge you". But, I wanna be able to use you

"for my iStock photography account."

At the time, I didn't know really what iStock was or what stock photography was, but I thought, you know what, if I'm getting free pictures, sign me up. So, he would upload my pictures to iStock and businesses from all over the world was using my picture on their websites, brochures, and all their marketing materials.

I've had so many people contact me because they saw my picture on some brochure or website and asked like,

"Jeff, is that you?"

It's like, yeah, that's me.

Now, I don't get any royalties for that because all I got was free pictures. But, my buddy who's a photographer is still making royalties off pictures that he took several years ago.

So, if you have a knack with a camera and love to take pictures of people, things, whatever, consider using iStock or any stock photography service.

Idea Number Five

Is for all my artists out there. This is something that's not me because I'm definitely musically challenged. There's this cool service called Patreon.

Patreon

It's for any artist that has a community, a growing community, and you wanna get paid for your work. You have a community of people that love your art whether that be your drawings, your music, whatever that art may be. Each time that you release a new item, you can get paid a fee for that. And you get to determine what that fee is.

Examples

So, let me give you a few examples of some friends of mine that really have taken advantage of Patreon.

A good friend of me, Evan Burse, also known as the Cartoon Block, is a very popular artist and has a thriving YouTube channel. He loves showing people how to sketch superheroes.

So, with Patreon, any time that he creates a new image, a new sketch, his community will pay him a fee every time that he releases a new image.

Another good friend of mine, Chris Greenwood, a musician and in the band Manafest, gets paid by his community every time he releases a new music video.

See, these are things that these artists are doing anyway.

But, now instead of just releasing something and hopes that somebody will discover it or that you hope that you might get paid for your work, with your community that is looking forward to the next piece of art that you're going to release, you're going to get paid and they're excited to pay you.

Check out Patreon.com for other ideas especially if you're an artist that wants to get paid for your work.

6^th Passive Income Idea

This one takes a little bit of time, but once you get it out there, you can really sit back and start earning that passive income.

So, what am I talking about?

This time I'm talking about writing a book.

Writing a book

Shameless book plug. So, I had both the wonderful and stressful experience of writing a book, Soldier of Finance. But, here's the cool thing, the book has been out for almost four years and guesses what?

I'm still getting paid on sales. I can log in to Amazon and see how many sales of my book are occurring each and every week. But, maybe you're not ready to do a physical book.

You could also sell an ebook. There are tons of authors that release books all the time on Amazon.

Writing and publishing books in the Amazon Kindle program is so much easier than it ever was. So, if this is something that you wanna do, think about it very hard.

Another blogger that I know in the personal finance space named Mike Piper, blogger at obliviousinvestor.com is making over six figures a year from his ebooks that he sells.

And, guess what?

He doesn't have a ton of ebooks, but he has enough. And, the ones that he does sell, yields him over six figures every single year.

As you could see, writing a book, whether it be a physical book, like Soldier of Finance, or an ebook, can be very lucrative. You just have to get the book done and get it out there.

No 7^th Passive income Idea

We are talking about physical products.

Physical products

This could be a variety of things.

This could be t-shirts, mugs, blankets. It's amazing what you can create and sell online, especially with the Amazon FBA program. But, maybe you don't wanna go that route and you actually do have a physical product that you wanna sell.

One of my most favorite success stories is Steve Chou from the blog mywifequitherjob.com.

With Steve's case, his wife is getting ready to quit her job, a six-figure salary living in Northern California and he wanted to find a way that he could replace that. What as, she could still spend the time with their kids, but also not lose out on the income.

So, what do they do?

They created a digital online store selling physical products.

In this case, it was handkerchiefs. You could check out his site at bumblebee linens and see everything that they sell. Now, their store has evolved a lot from the handkerchiefs so they offer a lot of different things.

But, here's the cool thing about that story.

Within the first year of launching their online store and selling these physical products, they replaced his wife's income over $100,000.

Did you notice that?

$100,000 after their first year of opening their doors.

That's amazing.

And, the best part, it is passive income.

On to number eight

Let me tell you, number eight was one that didn't work out quite well for me, but I know it's worked out for a ton of other people.

So, where does this one?

Real Estate

There are many ways that you can get involved in real estate. You can flip houses or you can become a landlord and have tons of rental properties. And, that's the path that I started. But when I started down that path, I realized I had no idea what I was doing.

Now, thankfully, I didn't lose my butt on that investment, but it did allow me to explore other passive income ideas that I'm currently implementing.

But, let me tell you, I have a local friend here who is in his early 30s and is making over $250,000 a year from his real estate properties.

He has a lot that he does a flip, but he has a good chunk of his real estate portfolio that is completely passive.



I will tell you if you want to start getting involved with real estate, make sure that you have a good mentor because you can lose a lot of money, if you don't know what you're doing.

So, if you're not completely comfortable investing in physical real estate, there are other options.

One option is real estate investment trusts which you can buy through ETFs.

Other options include sites like fundrise.com.

So, with Fundrise, they will take your money and you'll put that in a pool with other real estate investors and then somebody's in charge of choosing those physical locations for you. So, that way, you're not in charge of picking those locations or having to collect rent and making sure that they're taking care of the upkeep on those buildings.

All you do is sit back and collect the interest and dividends. Either which way that you look to explore into real estate is going to yield you some sort of passive income.

Passive Income Idea Number Nine

If you are comfortable putting yourself on the world getting in front of a camera.

YouTube

You can publish content to YouTube and sit back and make money.

So, how exactly are you making money on YouTube?

The easiest way is the ads that you see.

You know, those annoying skip here ads the first five seconds of every YouTube video that you watch?

Yeah, those ads.

Anyway, YouTube publishers get paid any time that you watch any of their videos. So, YouTube's always looking for content creators that are willing to put in the time and effort to create good video content.

One of my favorite local stories here is Emily from Beauty Broadcast. When she started her YouTube channel showing her community how to apply makeup, she started making a little bit of money with the ads from her videos.

The next thing you knew, those ads kept increasing as her viewers gained and her subscribers gained.

Fast forward to three or four years later, she was able to quit her day job because she was making more money than her day job with her YouTube videos.

Now, she makes almost six figures every year just by putting on makeup every single day.

Pretty sweet, I like it.

I don't really wear makeup, but you know, whatever. It works.

So, whether you wanna create makeup videos, prank videos, or crazy workout videos, if you're willing to put in the work and upload those to YouTube, you can get paid.

Idea No 10

Number 10 is definitely one of my favorites 'cause it's near and dear to me.

But, it is blogging.

So, I started my blog back in July of 2010. I'm still amazed at not only the amount of money

I've been able to make from my blog, but just all the connections I've made with so many amazing people over the years.

Now, my blog brings in over seven figures a year.

What?

And most of it is passive. Yes, like a landlord, it does take some upkeep and there are things we have to do, but I put in very little work for the base that I built up over the years.

You can check out other bloggers like Pat Flynn from smartpassiveincome.com or food bloggers Lindsay Bjork Ostrom from pinchofyum.com. And, even my wife, Mandy, from houseofrose.com.

All these bloggers are making really good money and most of them are from blog posts that they wrote over three years ago.

It's amazing and it is almost completely passive.

If you're interested in making your first $1000 from blogging, be sure to check out my free Email Challenge, the Make 1K Challenge.

You can check out more details at make1kchallenge.com.

In this challenge, I show you how to start your first blog, publish your first blog post, and give you behind-the-scenes peek of how I made my first $1000.

Yes, it can be done.

All right, here is the

Last Passive Income Idea

I do not know if this is my favorite, but it definitely is one that I'm pretty excited about.

So, what is it?

What I am talking about here is creating your own online course.

Online course

Now, this is something that I fought forever. I've always wanted to create a course, but I kept struggling with what do I wanna create,

what's the idea?

Who are the people that I wanna serve?

And, I kept coming up with an idea after idea after idea, but unfortunately, I never actually launched any of those ideas.

Now, let me tell you, to make passive income, you don't make money off ideas. You make money off implementing those ideas.

Finally, about two years ago, I released my first course. The Online Advisor Growth Formula.

In this course, I'm showing financial advisors on how to use online marketing to grow their businesses.

I launched that course last year and I've created the course, I've just recorded all the videos, and now all I do is market, which most of it is automated using Facebook ads and email marketing.

Last year, we made over $100,000 off that course, all because I took an idea and actually implemented it.

This year, we're on track to beat that by at least 50% if not double it.

Now, remember, I've already created the course. This is not something new that I have to redo or reshoot. All the information is there. Now, it's just a matter of getting that course in front of the right people that are willing to buy it.

Out of all the ideas I've shared with you, I love creating an online course idea the most,

because the margins are ridiculous.

If you're selling a course for $1000, your cost in that course may only be 100 bucks, 200 bucks. But, as you go along and make more sales, your margin decreases which means your profits increased.

So, by using these passive income ideas start making more money and more money and more money.