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Tagged With "Passive"

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Re: Passive Income Strategies

lismox ·
You could invest in a REIT like Fundrise. Here's the Pennyhoarder article: https://www.thepennyhoarder.co...ney/fundrise-review/ . Real estate always seems to have good returns, historically.
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Re: Passive Income Strategies

John Smith ·
Thanks for the resources.
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Re: Passive Income Strategies

Joan Cutler ·
Uber, Pet Sitting, Teaching English on the web,
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Re: Passive Income Strategies

Elizabeth Barnett ·
I'm very interested in this thread topic, but it appears that maybe a definition is needed. Passive income, as I understand it, is income you make without working for it. I've been researching and thinking a lot about this. It's how rich people stay rich/get richer and how poor people stay poor. Again, as I understand it, there are basically two categories of passive income (unless you count inheritances, then there's three, or winning the lottery, there's four): investments and cash-back...
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Re: Passive Income Strategies

Deanne ·
I'm planning to turn my house over to a property management company as a rental in a few years. I'll have the management company expenses, but the proceeds should still be able to pay for the rent of a small apartment in a lower cost area. By then, I'll be retired and won't want to maintain a house and yard.
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Re: Passive Income Strategies

Elon Must Save ·
Check out my latest post I have 4 easy ways to try and make some side income.
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Re: Passive Income Strategies

Elizabeth Barnett ·
Side income is not passive income. If you work a side hustle or gig, you are still working for pay. This thread is asking about Passive Income. Passive Income is where your money sits somewhere and just increases without you doing anything.
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Re: Passive Income Strategies

Elizabeth Barnett ·
Your plan sounds great. We've been thinking about this also, but we have a large house in a sought-after area, which would make it hard to rent the whole house (the rent would be a house payment and most people don't want to rent in our area, they'd rather just buy, I think). We've been thinking about whether it would make more financial sense to keep the house and pay it off quicker by renting half of it (which would mean we could charge a cheaper rental price but still make a good chunk of...
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Re: Passive Income Strategies

Leon ·
Yeah I would like to hear more a about this topic also. Looking at creative ways to earn passive income also.
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Re: Passive Income Strategies

sthom ·
Rentals are considered passive income, but it is not absolutely passive. There is work involved.
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Passive Income Strategies

Theodora ·
Hello, Penny Hoarders! My long-term financial goal is to build multiple passive income streams. Do any of have strategies, experiences, aspirations to share? Would love to learn from you!
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Re: Passive Income Strategies

Zach Filstrup ·
I use some of the following for passive income: -FundRise -DiversyFund -Prosper and LendingClub All passive income streams I created and are not active income like a side hustle/job or traditional real estate which is active income.
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Re: Passive Income Strategies

Leon ·
Any recommended books or resources I could read to see how to invest in these?
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Re: Passive Income Strategies

Leon ·
Thanks for sharing.
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Re: Passive Income Strategies

My Garage ·
Just seen this thread. I totally agree with this. The best form of rentals is housing or apartment types. You may only need to work once or twice a month to collect payments. Something that I would also enjoy doing. If you're not yet on that scale, you can do so by renting your own stuff that you don't use much. My best bet are on heavy tool equipment, event collaterals like chairs and holiday costumes.
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Re: Passive Income Strategies

sthom ·
Yes, @My Garage . I was speaking about rental housing. The hard work is getting it up and ready and then finding and keeping the right tenant(s). After that, the work is minimal. Also important is getting a team in place--handyman, plumber, electrician, real estate agent--and then there is insurance, taxes, property management (though I manage myself)...you get the picture. I'd like to get into one of those programs like Fundrise that was mentioned above though. I like that idea about...
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Re: Passive Income Strategies

lismox ·
I briefly rented out my house after I moved, and it was hellish. The tenants called what seemed like all the time. I am wishing I held onto it though, since it was near the beach. I bought it for $110,000 in 2010, and it just sold for $245,000 this year. I put a lot of money into that house. Oh well. If I were to purchase something again (probably an apartment or a condo), and rent it out, I would definitely hire a property management company. But things are so uncertain with COVID, maybe...
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Re: Passive Income Strategies

Amy_patt ·
https://community.thepennyhoar...7#515998684783171167 Great call out. And I've noticed there is a lot of gray area in during passive income depending on who you talk to and what their ideas are for creating it. I read a great article on thebalance.com and the write described it as "income you generate by spending very little time and/or money getting started and continue to collect from in the future without putting in extra hours" specifically he was giving instructions on how to set up...
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Re: Passive Income Strategies

Elizabeth Barnett ·
Amy_patt, could you post a link to that article? I would really like to read it. I have started selling some things on eBay, and my daughter wants to make custom T-shirt designs. I'm curious as to how to do t-shirt sales online.
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Re: Passive Income Strategies

Brigat ·
@Zach Filstrup, You mentioned Fundrise and Diversy Fund. What has been your experience with them? I've been to both websites, but got bogged down in all the small print.
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Re: Passive Income Strategies

Zach Filstrup ·
Hi Brigat so my experience overall has been pretty good with both platforms. I will say there are a few caveats to both. The expense ratios are pretty comparable in terms of costs/fees on both platforms. I will say that to get started in Fundrise is cheaper then Diversyfund. The minimum to get started is $500 which is equal. However, the monthly minimum if you want auto-investing is much pricer with a minimum of $500/mo. at DiversyFund and around $100/mo. you can do auto-investing with...
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Re: Passive Income Strategies

Brigat ·
Thanks so much. Your explanation really helped!
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Re: Passive Income Strategies

Onbudgetmoms ·
I have a blog which isn't technically passive since you have to put a lot of work into it up front BUT it can become a very good passive income stream eventually. A lot of people sell printables and create their own products and set up funnels.
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Re: Passive Income Strategies

shelia Wright ·
We are now retired, but when we were in our 30's we used my income to purchase rental property and stocks we could purchase with out a broker. It is important to have a good relationship with your banker. We got our best real estate on divorce or the owner died and both groups need a quick reasonable offer. Our property is all paid for. I all ways reinvested my dividends. We now have dividends sent to us. Monday, We deposited a check for $599.00 from a bank stock we bought and reinvested the...
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