Did you know that 1 in 3 Americans has started up a side hustle in 2021? What’s more, is that over 61 million people reported they were looking to build a passive income stream in the year ahead.
With so many Americans learning how to make money from home, utilizing passive income strategies has become a growing trend – and for good reason! If you’re looking to start making money while you sleep, you need to know these passive income methods for success.
Follow along with these top 5 passive income ideas for 2021 and start on your side hustle today!
1. Income Property
The first and most popular way of drawing in extra money is to invest in rental property.
Whether you rent out a second home you own, a room in your apartment, or even your summer cottage, rental income is a highly lucrative way to bring in passive earnings with little to no work on your end.
You can even outsource the management of your property to a rental agency and avoid dealing with renters altogether. After the initial investment of your mortgage is paid off, you’ll be banking money for retirement with ease.
2. Affiliate Marketing
Affiliate marketing is becoming more and more popular among businesses and influencers alike. The best part of it is that you don’t need millions of followers just to get started.
By signing up with companies that you already know and love and recommending their products or services to your friends and family, you can earn money for doing virtually nothing!
To take it a step further, you can build your blog, youtube channel, or other social media platform to leverage your following and earn money for genuine recommendations.
3. Online Courses
Have you got a wealth of knowledge to share on a particular topic? Why not build a course to share your expertise with the world.
Course building sites make it easier than ever to build your custom online course with automation services and all. This means you can earn an endless income off of just one project.
As your clientele grows, you can develop subcourses to expand on your initial project. At the end of the day, this passive income strategy is the perfect idea to make money from home with little to no ongoing investment.
4. Invest or Mine
Investing in stocks is perhaps one of the longest-running ways to make a passive income from home. Of course, hopping into the stock market can be rather intimidating for a beginner. This is where online stock trading with bitcoin comes in.
Just as profitable as Wallstreet but with much less pressure, investing and mining bitcoin is a clever and safe way to earn an income. Sites such as www.quotecolo.com are a great place to launch your mining career and keep your digital money safe and sound.
If you’re looking for a lower-risk way to make money from home, reselling items online may be the perfect choice for you.
Pick up items from other sellers at a reduced rate and flip them for a profit! With a little research and well-written product descriptions, you can master the art of reselling in no time.
Passive Income Methods in 2021
Now that you know these top 5 passive income methods, it’s time to get to work. From investing your money in real estate and stocks to leveraging your existing knowledge, we’re confident you’ll be a smashing success.
Want to learn more about building your home business? Check out our other articles to discover everything you need to know to make money at home in 2021.