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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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Re: Passive Income Strategies

Angie P. ·
I'd say things like REITs, as others have mentioned above. I personally prefer syndications as opposed to REITs because of REITs lower Sharpe Ratio in general, and in syndications where you get to see the underwriting in every single deal, you can get a lot deeper in how the operator thinks about the opportunity. A lot of folks talk about rental real estate as 'passive' -- I've had some in the B+/A- class, but it was far from 'passive'. I mean, most months would go along fine, but when...
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Re: Passive Income Strategies

shelia Wright ·
I am so fortunate that I have service people that are in private business, but I pay my bills promptly and promptly so they service my rentals as soon as I call. My tenants are in awe at how quickly their problems are taken care of. I pay service people promptly, my tenants are happy and pay their rents on time.
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Re: Passive Income Strategies

goingplaces90 ·
Passive income is not easy. It requires a lot of upfront work to get it done. Think, investing, starting a blog, real estate rentals, real estate apps , etc. If you just want quick cash and are a fan of playing games on your phone, then check out making money playing games . It's a great way to earn money by playing fun games you would play anyways. Worth checking out since it requires little to no investment. Good luck and there are a lot of other great ideas on this thread!
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Re: Passive Income Strategies

Daniel Moyanda ·
I spent time reading all the comments here. Thanks for the addition @all
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Re: Passive Income Strategies

Jack Owen ·
Hello, I look forward to gaining knowledge on making and saving money. Ready and excited. geometry dash
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Re: Passive Income Strategies

shelia Wright ·
Please read The Millionaire Next Door." It chronicles the lives of plain people who work and become 1st generation millionaires in their family. You learn that most of the people they know would never believe they were wealthy.
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Re: Passive Income Strategies

Swenyly ·
Passive income can be a great way to help you generate extra cash flow, whether you’re running a side hustle or just trying to get a little extra dough each month, especially as inflation rages throughout the economy. Passive income can help you earn more during the good times and tide you over if you suddenly become unemployed, if you voluntarily take time away from work or if inflation keeps chipping away at your purchasing power. Passive income ideas: Create a course Write an e-book...
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Re: Passive Income Strategies

Swenyly ·
Passive income can be a great way to help you generate extra cash flow, whether you’re running a side hustle or just trying to get a little extra dough each month, especially as inflation rages throughout the economy. Passive income can help you earn more during the good times and tide you over if you suddenly become unemployed, if you voluntarily take time away from work or if inflation keeps chipping away at your purchasing power. Passive income ideas: Create a course Write an e-book...
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Re: Passive Income Strategies

K_87 ·
Thank u for all of them ideas, which is why I feel sincerely for.. I'm a little confused about a few things on here and that coupled with my total neurological 🤯when I u think about it I was wondering if it would be ok a meet to possibly contact those I had a question for...I barely figured out how to post, let alone ask individual people separate things in the same thread (I'm really not this dumb, but things aren't great right now and I'm having trouble thinking or remaining how I can't...
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Re: Passive Income Strategies

jordanlaris ·
Whether you're attempting to start a side business or are just looking to make a little extra money each month, passive income can be a wonderful approach to help you generate extra cash flow. This is especially true now that the economy is experiencing widespread inflation. Some suggestions are: Write an e-book Rental income Affiliate marketing death run 3d
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