Comments on: Examples of Passive Income – How to Earn Money on the Side

By: Bruce

Bruce — Sun, 06 Feb 2011 22:48:48 +0000

I’ve always wanted to earn passive income by owning an apartment building and renting out the suites. Thanks for these examples of passive income.

By: Laurie PK

Laurie PK — Mon, 08 Jun 2009 14:14:20 +0000

The phrase “passive income” might make you think you don’t have to work at all…when in fact you might have to put out alot of initial effort to get your passive income stream flowing. And, you might need to invest money in your source of passive income (such as paying for a vending machine, or buying a web domain).

A great way to find a source of passive income is to look at what you’re good at, what you love to do. Do you like to knit or scrapbook? Can you explain how to plant a garden like nobody’s business? If you can create something, you have a potential source of passive income!

Here’s a related article: How Hobbies Become Money Making Careers http://theadventurouswriter.com/blog/quipstipsachievinggoals/career/career-goals-how-hobbies-become-money-making-careers-successful-entrepreneurs/

Thanks for your info, Brandon – it’s great.

By: Brandon Wilkins

Brandon Wilkins — Mon, 08 Jun 2009 10:52:57 +0000

Rick,

The “HOW” of generating passive income starts with finding something that generates revenue even when you are not physically working on it.

There are a variety of sources that meet this: here a just a few off the top of my head: rental real estate (tenants pay you monthly rent and you’re not working on or at the property every day); own a business (your employees are running the operation even when you’re not there).

Some people may say they don’t want to (or have the means to) do things this large. On a smaller scale, write an e-book and sell it online (once the sales page and marketing campaign is created it runs on autopilot). In the offline world, small vending machines are a great source of passive income. Find a good location and it continues to generate revenue as long as you keep it filled.

I’m sure you can come up with some other ideas if you just start focusing on, “What can make money for me even if I’m not there working on it?”

One final caveat: some people fall into a trap of believing that they don’t have to do ANYTHING at all to generate passive income. That just isn’t the case. There is work to be done, but once again the beauty is that you do the work a few times, but get paid many!

If you have further questions, or need some help getting started on generating passive income, feel free to contact me.

By: Laurie PK

Laurie PK — Sun, 07 Jun 2009 22:12:34 +0000

Regarding how much passive income someone can make through blogging: it depends on how much work you put into it! That is, the more time you spend posing quality articles, finding good affiliate programs, promoting your blog, and interacting with readers — the more you’ll make. I guess blogging is an example of “turning active into passive income” because it does require a big initial investment of energy and time.

And regarding “outsourcing” – here’s an example: I’m a full-time freelance writer. If I get an article assignment that I can’t research and write, then I could hire or outsource part of that article to another writer — such as hiring him or her to research the topic. I think “outsourcing” is similar to subcontracting.

I hope this helps answer your question!

Laurie

By: Rick

Rick — Sun, 07 Jun 2009 17:03:07 +0000

This article doesn’t seem to tell me how to create passive income. Is point number one suggesting I get another job? And then hire someone else to do it (point number two)? With respect to your comment, LauriePK, how much passive income can someone make blogging?

By: Laurie PK

Laurie PK — Thu, 04 Jun 2009 22:31:36 +0000

My favorite way to earn passive income is through blogging! I love it especially because it’s interactive and personal. That is, I can get to know people a little through my blogs, which makes me feel like I’m doing more than just earning a buck or two.