More Ways to Make Passive Income

Do you dream of making money in your sleep? You can achieve this by creating passive income. There are many ways to create passive income streams, and some require more time and effort than others. Here are four of the easiest ways to make passive income.

Sell Stock Photography

If you enjoy taking high quality photos and currently have a camera filled with beautiful images, you need to look into building passive income via websites such as Shutterstock.com, Fotolia.com, and iStock.com. These are just a few of the many websites that allow you to take your images and license them to the public for a fee. You receive money every time a customer purchases your images. This is a great passive income option for professional as well as amateur photographers. In order to make money passively with these sites, your images must pass quality standards set forth by each company.

Rent a Room in Your House

Do you own a home and have an extra room that is not currently being used? Then you should consider renting it out to make passive income. You can easily do this by using Airbnb.com. This site helps travelers from all over the world find homes and rooms for rent in the destination of their choosing. You decide who can rent your room, how long a renter can stay, and the amount of money renters must pay. Living in a destination frequently visited by travelers can greatly increase your ability to make money.

Sell an eBook

Selling an eBook has never been easier with the help of Amazon.com. You can easily create an eBook in a matter of days and have it available for purchase on Amazon. What interests you? Once you answer this question, write about it. Sure you’ll have to put in initial time before making any money, but once your book is available online, you will continue to make passive income from it for as long as you book remains online. This is a very good passive income option for individuals with a passion for writing.

Lend Money to Peers

Do you currently have money saved and want to make it work for you? If so, lending money to peers may be a great way to make passive income. You provide loans to individuals in need, and you make money as they pay you back with interest. Though this option has its risks, many passive income gurus live by this option. An easy way to get involved in peer to peer lending is by using a popular website called Lendingclub.com. This website screens applicants and only accepts loan applications from qualified individuals. Each loan is broken up into increments of $25.00, which will ultimately allow you to build a diverse passive income portfolio.

Conclusion

Passive income is the best income! The ability to make money while you sleep, eat, and travel may be your biggest dream. Now it is time to make this dream a reality. Now that you know a few easy ways to make passive income online, it’s time to start working on your next passive income project.

Have you come across a great way to make passive income? Please share it with us!

Photo: Flickr: GotCredit