7 Passive Income Ideas - How I Made $19k in a Week

in this video I'm going to rate seven passive income ideas based on firstly how hard it is to get started and secondly how hard it is to maintain and make money from it so whether you're working a 95 and want some passive income on the side or you're looking to start a side hustle that are two main ways you can do this the first is by buying physical property and making money through rental income for this the barriers to entry are quite High you need money for a down payment you need a good credit score

and then you need to Source the property and find a good tenant so in terms of getting started I'd give this a three out of five and in terms of Maintenance you can choose how passive you want this to be so if you want to manage your properties yourself it will cost you your time or if you want to hire someone or give it to a property manager to handle it will cost you money and so if that sounds like a lot of work the second way you can make money through rental income without actually

needing a deposit or managing the property is through investing in a real estate investment trust a Reit is essentially a company that invests in different types of properties it could be hotels warehouses shopping centers and then it rents those properties out and from the rental income it receives it's legally required to pay 90 of that income to its shareholders in the form of dividends so in terms of getting started and investing in a read I give this one it's far easier to do and you could buy publicly traded REITs through a brokerage account like like

you would any other stock and in terms of Maintenance and how much you can make I'd give this a two because you do not have the hassle of direct ownership but you do need to invest a fair amount of money to make a decent return because you're not relying on any leverage so for example segro which is a reach that invests in property around Europe is offering a 3.4 return so to be able to make the equivalent of around 140 a month you would need to invest fifty thousand dollars of your own money but because

these REITs generally have long leases where the Brew chip tenants the rental income you can make is relatively more reliable in various market conditions number two is being a Creator printer this is being a content creator but I've called it createdpreneur to emphasize that to make this a passive income stream you need to think about content creation as an entrepreneur and this is a middle ground that isn't really tapped into so on one side you can love creating content but if you don't think of it as a business it's just a hobby whereas if you

solely focus on the business side of it you're going to burn out before even making it into a passive income Stream So you want to tie both of these together for a platform like YouTube in terms of getting started anyone could do it you literally need a phone and an internet connection so I'm going to give this a one to get started the harder part and what makes this into a passive income stream is actually how long you can keep this up for without seeing the returns and this is where the entrepreneurial side comes in

setting up the process hiring Outsourcing so that you can concentrate on producing quality content for as long as possible it took 10 months of making no money through YouTube for me to finally be eligible for the partnership program and now I make hundreds of the day from YouTube AdSense and most of that is passive because it's coming through my older videos another example is Ali who last year made 405 million from YouTube and he spends a couple of hours a week on it he also has a YouTube course on how he's built this up and

the systems he's put around it are link it below if you are considering it and want to check it out but the hardest part of this income stream is putting in the time and staying consistent so I'm going to give this a four in terms of Maintenance but if you can get through that initial phase you can make a lot of money through YouTube and this is one of the best passive income streams in my opinion number three an online course I'm a big fan of this one because firstly as a consumer it gives you

so much access to information that you wouldn't otherwise have and from a passive income point of view it's a great place to make scalable income an example of someone who has done really well from this is cat Norton who started a tick tock profile around tricks and tips of using Excel those videos blew up and evolved into her teaching others about Excel through online courses and in her first year from doing this full time she made one million dollars in sales from air and now on a good day she makes over six figures a day

from her courses which are completely passive she made it once and now she sells it again and again so how hard is this to get started the real thing or the real difficulty here is to identify what value you can bring and what you can teach to other people that they're willing to pay for once you've got that bit figured out it's about creating the class and putting on a platform like skillshare or udemy which doesn't really require much in terms of Maintenance or you can host it on your own website and make sure you're

driving traffic to it so in terms of Maintenance that's the easier part and I'm going to give that a two out of five the fourth way to make passive income and this is the truest form of passive income out there and that is through dividend investing the way to think about this is when you buy a share of a company you now own a little piece of that company and so if it's paying dividends that means they are taking part of their profits and giving you a percentage in terms of getting started I'll give this

a three because buying individual stocks for the dividends requires a lot of research if you don't want to be spending a lot of time reading through all the financial statements and the accounts then a better way to make passive income through dividends is by invest testing in index funds this is the path that I take and it's a safer way to earn dividends than only individual stocks because you're diversifying what you have exposure to so instead of being focused on one company and its dividends you now have pieces of lots of different companies that will

pay dividends in terms of getting started I'll give this one it's really easy to do set up a brokerage account invest in index funds but in terms of Maintenance and making a lot of money through this I'll give it a three because although you don't really need to do anything with your Investments if it's an index fund to really reap the benefits you do need to keep investing and also reinvest the dividends to buy more shares of those index funds and then the real passive income will be through the appreciation and the capital gain side

of it the fifth way to make passive income is through selling digital products so this includes ebooks downloadables presets website themes what I really like about digital products is that it takes time to create them but the costs are so low and it's pretty much passive thereafter so one example of someone who has done really well from the S is Steve shoga who has packaged up all the knowledge he had learned through his day job about design tips and bundled it up in an e-book and according to an article online he made a 2.3 million

dollars from it we all think we have to create something revolutionary to make a lot of money but that idea may just come from what we do day to day most of us go to job daily as an expert in our field but never think to turn what we know into an ebook and that's exactly what he did in terms of starting I'd give this a two you really don't need any money to get started but the harder part again is actually coming up with the idea that people will pay for and in terms of

Maintenance and being able to make money from it I'm going to give this a three out of five because you can either put it on sites like Etsy and people can search for it or you could spend more time creating an audience and creating content and use that to boost your sales even further but the most important thing is being able to provide something valuable that people are willing to pay for the sixth passive income method is affiliate marketing so this is when you promote someone else's goods or services and get a commission or a

small percentage for doing so so for example if you see the links in my description those are affiliate links and so I get a percentage of that sale and it doesn't cost you any more money for buying that product through the link according to an article online the national average amount an affiliate makes is 55 000 per year and for me through that and YouTube AdSense combined in the last week I made nineteen thousand dollars so how easy is it anyone can sign up and join the affiliate program that takes literally five minutes so I'm

going to give that a one in terms of getting started but the hard part here is actually driving traffic so whilst I say I made x amount in a week actually it took me a year to build a platform and build an audience to get me in a place where I can make that passively and so the affiliate side is almost a byproduct of the amount of work that you'd put in to grow that audience in the first place and so to really scale and make this passive you do need a lot of traffic so

you can put it on your social media website your blog your Twitter and the amount you make from it is really dependent on how much you're putting it up front to grow those Avenues so with that said in terms of Maintenance I'm going to give it a four because it is a lot of work to keep that traffic coming through organically finally idea number seven of this passive income stream video is productized service this is a hybrid between a product and a service making money through a service is one of the easiest ways to make

money like editing videos or one-to-one coaching but these are limited they're capped because it requires you to trade time for money so it's hard to scale there's only one of you so a productized service then is turning that service into a product and you're automating the process so that you can eventually take yourself out of the equation and that income can be made passive so for example one of my friends is a personal trainer and she used to before the pandemic do one-to-one classes and charged by the hour then she built it into a product

High service so she offers subscribers 30 workouts per month for 18 per month and she has about 4 000 people that are subscribed and she's making monthly income from that so she has ultimately made a package service she's built an app she started a subscription service and hired a team of people so she spent a lot of time building this up which is why I'll give this a four in terms of getting started it's not easy but now she has other people that have stepped in and run the day-to-day so other personal trainers who record

the workouts and upload them or the marketing and she basically oversees it all but it requires the skill set to be able to get there and make sure that value is consistently being provided which isn't simple to do and so even on the maintenance Side and being able to consistently make money from this I would give this a four out of five so those are some passive income streams to give you some ideas if you have done any of these already I'm curious to know what your experience was will there and if you'd recommend it

yourself or if you have other passive income streams that have really worked for you I'd love to hear about it if you did enjoy this video you may also enjoy another video that I have and I'll link it up here and there on things that I no longer buy even though I have built up my passive income streams and I hope to see you there