Are you wondering how to create multiple streams of residual income online and looking for some real online money making tips?
There are a number of ways a person can make passive income online, so it’s important to craft a residual income model before even getting started.
First, what is the definition of residual income? This is basically money you make passively or money that is made after you have put work in. There are several obvious advantages to this – you don’t have to be in person to make money. It’s also nice to have safety streams of income in case you lose your job.
How can you do this?
#1 – Blog online for passive income – You can create a niche blog of your own or you can write for a website like Seekty or InfoBarrel. You will earn residual income every time someone clicks on an add or buys a product. I think the money you make ranges and depends on how much you write and how well you do keyword research and SEO.
#2 – Invest in Stocks or Real Estate – This requires some money to do so but if you have it, you should consider this option. You can buy a high yielding ETF or multiple stocks that pay a nice dividend, or you can consider buying an investment property that has a nice cash flow.
#3 – Become a Lender on a Peer-to-Peer Lending Website – Sites such as Prosper and Lending Tree allow normal people to loan money to other normal people, effectively cutting out the banks. This has benefits for both parties – the lender will earn a nice interest rate while the borrower will get the money they need. Investing in Peer to Peer Lending definitely has some advantages.
#4 – *Write Then Sell an Ebook for Residual Income – This is good for people who are an expert in a subject and want to monetize their expertise. You can write about anything, really.
#5 – Buy a Business That Cash Flows – You might consider investing in a vending machine or a laundromat, for instance. You need money to do this but the residual income is pretty good from what I’ve seen.
Thanks for reading this article on some different ways to build residual income streams both on and offline!