How Easy Is It to Build Passive Income?

Passive income means you are making money without doing any ongoing work. However, passive income does not happen overnight, you will have to work hard to build passive income no matter what you do. It takes a lot of time to build passive income. Let's say you invested in the stock market, it will take a couple of years before you start generating passive income. Let's say you start a business, can you make money from your business overnight? You will have to work for many years before your business generates passive income., The same goes true for blogging. You cannot make passive income just in 2-3 months of starting a blog, you will have to spend years. I have been making money from my blog for two years but it took me over a year to generate income and my blogging work has become my passive income only since 7-8 months.

There are two ways to build passive income, one, you invest in someone's business, and two, you create your own business. While investing in someone's business takes away your problem for managing and operating a business, investing in your own business requires a lot of hard work. Interestingly, not all investments are profitable. Therefore, you need to do a lot of research, including analyzing your risk tolerance level. When you are investing for building passive income, you need to remember one thing, your income should be recurring. In other words, the best passive income method is the method that brings cash flow.

Create Passive Income Through Online Courses

Online courses are undoubtedly one of the best ways to build passive income source. It will bring you money even when you are sleeping. However, if you are looking forward to use this method, you should know how likely is it to make passive income through online courses?

In order to make passive income through online course, you need to create a course that sells. The course you have created should be in high demand and the people should be frequently buying your courses.

You also need a lot of technical skills to create a course. You might have skills and your skills might have commercial value, however, if you do not have skills to create an online course how can you use this method. For example, you might be a photoshop expert and you might be able to make money by selling your photoshop course, however, if you do not know how to make a course, how can this be your passive income?

Create Passive Income Through Web/Mobile Apps

If you have mobile and web designing skills, you can create mobile apps and websites to create a passive income source. There are multiple ways to make money through web and mobile apps. For example, you can publish your mobile and web apps and generate revenue through membership or advertising. You can also create turnkey apps and websites and sell these websites to make money. You can continuously make money from the same app and web. Therefore, this can be good passive income source of you have to skills to do it.

However, just because you can create mobile and web app does not mean you will be making a lot of passive income. Just like other passive income sources like blogging, youtube, online courses, etc. you need SEO and marketing skills to generate sales and revenue. Your apps and websites also need to receive tons of traffic in order to earn from ads and membership.

How to Build Passive Income Through Get Paid to Write Platforms

There are a lot of Get Paid to Write Platforms where you can make money by publishing articles and posts. On these platforms, you can either make active income or a passive income. Here are some of the platforms where you can build passive income as a writer.

eBook Publishing

Publishing ebooks is one of the best ways to build passive income as a writer. If you are interested in this method of making money, here are the platforms where you can build passive income.

KDP

Lulu

Barnes and Noble Press

Smashwords

On these platforms, you will earn royalties from your ebooks and you make passive income as long as your ebooks sell.

Article publishing

eBook requires a lot of hard work, you will have to spend months writing an ebook and not all ebooks are sold. Therefore, another best way to earn passive income is through articles. You can publish articles and stories on the following sites to make money

Hubpages

Medium

Vocal

Wattpad

When you publish on the aforementioned sites, you will be earning as long as your articles and stories receive views. If you have published readable content, if you have published searchable content (content that can be found on search engines), you will receive views, and thus will continue to earn.

Passive Income Through Real Estate Investment

Real estate is one of the best investments that bring regular cash flow. In fact, real estate investment is even recession-proof. The property price might go down, but you will still find home occupiers and collect rent from these people. The stock market is also a good investment.

You make passive income through real estate investment by renting your property. Based on the type of your property, you can either rent it out to businesses or homeowners. No matter who is your renter, you should take care of a lot of things while investing in real estate for passive income. The most important thing to remember is the location of your property. The location determines who will be your renters. When renting out, you will also need to write down the contract. You should be very careful about choosing your renters. You need to check their financial records to ensure that they will pay the rent on time. You will also have to stare the terms and conditions in writing. When ever you communicate with your renters, make sure to communicate through emails because when any dispute arises in the future you can show your proof of communication.