17 Passive Income Ideas with The Least Physical Work or limited work and sometimes a bit of investment that you acquire to give you cashflow. These cashflows are some of the best Independent Income sources to establish a financially free lifestyle.
Earn Interest Money
Other than your bank account, you can also earn up to 7% interest with a Gemini Earn account. Gemini converts your deposit into “stablecoins” at a fixed rate of 1 to every dollar, and the loans Gemini makes are backed by crypto collateral.
Rent Out Your Space
If you have an extra room in your house, consider listing it on Airbnb. Airbnb is a new way to travel for many people around the world. Instead of booking through expensive hotels, why not stay at someone’s house? As a guest, you can choose high-end to low-end, choose to stay with other people or opt for privacy. And as a host, it’s a great way to make side money, utilize unused space, and meet new people! How much you can earn depends on your area so I recommend finding out by becoming an Airbnb host yourself!
No extra rooms, beds, or couches for a weary traveler to rest his head? No problem! You can still rent out another space: your parking space. Homeowners who live within walking distance of major tourist attractions or sports venues will often sell parking spaces in their driveways or on their lawns.
But even if you don’t live just down the road from the Indianapolis Motor Speedway or a major music festival, you may still be able to profit from a parking space. And why not park on the street while you rent your parking space to a neighbor? Sites like JustPark and SpotHero can all help you find a renter for your primo parking spot.
Rental Properties
Rental real estate is one of the oldest side hustles in the books and is still viable today.
If your local market is too expensive, take a look at Roofstock, a cool online marketplace built for out-of-state investors. Many houses listed already have tenants and property management in place.
Commercial Real Estate
Fundrise allows you to invest in a portfolio of commercial properties all around the country. I’ve been a Fundrise investor for years and they’ve consistently paid quarterly dividends in the 5-10% yield range. Plus, you can get started with as little as $10.
Put your home in a film
You can rent out your home for photoshoots or even a film shoot and make some serious money.
There are location agencies such as AmazingSpace in London which will pay you to rent out your home or garden. You could be paid up to £1,500 a day.
Renting out your car
If you don’t want to drive others around as a Lyft or Uber driver, you can rent out your car on sites like Turo and Getaround, just like you would your house or apartment on Airbnb.
You become the competition for the car rental company. There are obvious risks, but depending on the. your situation, it can become quite lucrative. A client I worked with rented his car out two to three days a week and generated more than $3,500 a month.
Rent Out Your Car, RV, or Boat
If you have an underutilized car, HyreCar will help you rent it out.
Listing your car is free, and HyreCar owners report earning an average of $720 a month. The company does background checks on all its renters and also handles insurance.
What else could you rent out?
For RVs, check out RVShare.com
Boats; GetMyBoat.com
Pools? Swimply.com
Baby Gear? BabyQuip.com
Store Other People’s Stuff
Have extra space and want to make money off it? Maybe you’ve got an unused driveway, garage, basement, shed, or parking spot. If it’s just sitting there, you could turn that unused space into passive income every single month… without ever lifting a finger.
Neighbor is a website that lets you rent out your unused space to make extra money on autopilot. Seriously. You just sign up on their site, list what space you have available, and people in your city can rent out your unused space to store their stuff while paying you a premium for the storage.
The entire process works seamlessly and money is deposited into your account automatically. You don’t even need to move anything — your renters will move their stuff in (and out) on their own, while you collect a sweet paycheck month after month. Oh, and you’re protected by up to $1 million in liability insurance too. Sign up today to see how much you could earn.
Advertise on your car.
File this one under both super weird and the ultimate definition of the phrase passive income. The app Wrapify will pay you to drive with a business advertisement wrapped around your car. Once the car is wrapped, you really don’t have to do anything except drive around town like you normally do.
It sounds strange, but it’s actually pretty rewarding: The more you drive, the more you’ll earn. Wrapify says the average person who does a full wrap on their car makes about $264–452 a month.5 If you’re still paying off your car loan, that’s a car payment right there!
Rent out your baby gear.
Do you have baby items taking up space in your garage but you aren’t ready to part with them yet? After all, you might want another kid . . . maybe one day. Instead of selling that high chair or baby jumper, why not rent them? Oh, we’re serious. On websites like BabyQuip, their Quality Providers earn around $600 a month renting out things like cribs and strollers. Seriously.9
Rent your belongings.
Okay, we already talked about renting out your home, car, and even your old baby items. What else is there? Oh, only everything else. The popular renting company Fat Llama (what a name—we know) lets you rent out nearly any of your belongings!
Some of the most in-demand items are camera equipment, projectors, lighting, and audio equipment. So if you’re a photographer, videographer, or just a tech-gadget lover, you might make a good amount. But remember, you can rent out nearly anything—even your lawn mower . . . or tractor . . . or scooter. Who knew?
Give Loans
Peer-to-peer lending is basically what the name says; you chuck a bunch of cash into an online account and then divvy it up among dozens of people looking for loans around the country (or the world). You lend say $25 to each person (you and a couple of 100 other people together give that person enough money for their loan).
Invest in Stocks
Investing in dividend cash flow has helped me get off the sidelines and into the market.
Investing is arguably the easiest way to make passive income. The problem is most investments sound good in theory but don’t work out so well in practice. And if you don’t have much experience or access to capital, let alone the time to work it all out, it can seem more or less impossible. However, there is one smart way to invest that just might work.
Invest in Business
It is much harder to startup a business from scratch than it is to buy an existing (and successful) business and grow it. So why not just stump up a couple thousand and then have a cash-generating machine in your hands?
There are also opportunities for investing as a silent partner.
Set Up a Passive Business
Most passive business ideas are not easy to set up and it may take lots of money if you don’t want to do it yourself. We will share a list of the most doable passive income ideas soon.
License Out Your Ideas
If you’re not super excited about risking a bunch of capital to create and sell a product, but you have ideas for products that fill real gaps in the market, you could become a professional inventor.
This is a pretty nice passive way of earning recurring income over time.
Buy a License and Get Revenue
If you have money to invest then instead of your own ideas, books, art, and other valuable licenses, you can simply buy the licenses and enjoy their revenue.
If you enjoyed “8 Passive Income Ideas with The Least Physical Work” you may also like:
