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Another investment that I highlighted recently was p2p lending through Lending Club. Ive been investing in p2p for a couple of decades now and have booked returns only under 10%. Now that might not sound great against double-digit stock returns but its dual everything you get from other fixed-income investments.
Investing in loans is nothing new. In fact, I guarantee you have money in them via any pension plan or insurance. You see banks sell their loans to investors that need reliable cash flow so their most important buyers of loans are pensions and insurance companies.
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I average just under 10% annually on the loans about $1,000 on each $10,000 invested. Now thats a year so youll need a bit invested to make that $5,000 per month but even a little portfolio will constantly be putting cash in your account. You receive paid principal and interest monthly on your loans so its a great cash flow investment. .
What I enjoy about p2p investing on Lending Club is the sites automated investing tool. You pick the standards for loans in which you want to invest and the application does the rest. It will look for loans every day that meet those factors and mechanically invest your money. Its important because youre collecting money on your loan investments every day so you want that money reinvested as soon as possible. .
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The automatic investing instrument on Lending Club makes the investment entirely passive. I could only check in on my account once a month or even less often. I know that program is going to keep investing my money for a secure and passive return.
Our next passive income idea is another twist on crowdfunding known as Patreon. The site is promoted as a crowdfunding site for creative people like artists and writers but really its for anyone with a side-hustle idea.
Patreon is really how the arts used to operate hundreds of years ago. Back during the renaissance, artists used to ask the rich to be their patrons to support their work through regular contributions.
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So now the website Patreon provides you the opportunity to acquire patrons for your own works. You build a community of people interested in your work, another use of a site that will double-duty with this passive income plan, and then request them to make contributions every time you produce something. .
Now patrons dont come off empty-handed, you offer benefits and copies of the work. So to get a writer, you could offer copies of your books. You could promise to publicly thank patrons on your blog or to promote something of theirs in the future.
Even if every patron only contributes a very small amount each month, it can still be a huge source of income. Have a peek at the Patreon site for Kinda Funny, an internet movie company. They have over 6,209 patrons which means an average of only $3 a month would be a monthly income of nearly $19,000 and they get cheerleaders which are always happy to spread the word on their brand. .
Our last passive income source is creating your own brand and selling via Amazon FBA. This is one of the most exciting income thoughts Ive seen in years. Amazon FBA makes it effortless to start he said your own retail company, to market your own products.
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It used to be that you needed hundreds of thousands of dollars for manufacturing, marketing, logistics, everything that went into selling products. With Amazon FBA, you contract with a manufacturer to send everything directly to Amazon warehouses throughout the country.
The manufacturer is going to put everything together, pack it and even put your label on it. Then you just run your advertising and sell everything from the page on the worlds biggest internet shopping website.
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Ive got a couple more information of interviews on the blog from folks that have started stores through Amazon FBA. Some of them are making high-income incomes in less than a year so $5,000 per month is readily achievable in less than that.
Making legitimate passive income isnt as difficult as you may think. Some of the best passive income thoughts may take a little time to install but can start cash flowing within a couple of months and will provide a consistent monthly income for many years or longer. The most important point is simply to begin.