Whether you’re looking to retire early or just want more flexibility in your life, generating passive income is a great way to get there. There are a few ways you can make money from home that are relatively simple to do, and some that require a bit more effort.
What’s the best passive investment?
If you’ve got a spare room, renting it out on sites like Airbnb is a good idea. The average cost is $25-$200 a night, and it can be a great way to earn some extra cash. However, you’ll have to clean the room between stays.
If you’re a car enthusiast, you can earn some best way to create passive income by listing your car on sites like Turo. You can also rent out your vehicle on sites such as Carvertise and Wrapify.
While it may seem like a lot of work, there’s a good chance you’ll earn a lot of money in the process. Aside from the obvious cost of building a website and purchasing a domain name, you’ll also need to find a niche.
If you’re the type of person who loves to travel, you might want to consider renting a room on sites like Airbnb. Depending on your location, you could end up earning more per week than you do per month.
You might also consider buying a piece of real estate. A condo can be a great investment, but you’ll have to put a large down payment on it. Another option is to buy a small apartment and rent it out on sites like AirBnB.