Well, what is passive income? Let’s make an example right away… Let’s assume that you own real estate, for example a house you live in. Your house has two apartments and you use only one, so what do you do? You rent out the other apartment! With some initial effort you’ll get paid rent every month! Passive income right there. The passive means that you don’t have to do a lot! And once you rent out an apartment the effort stays minimal.
Are there other passive income streams?
Sure, there are multiple income streams you could build up. When I started to inform myself about passive income, real estate was always one of the first examples… But what if you don’t already own real estate or in my case when I started, you don’t have enough money… what then? Well, I recently wrote an eBook for example! The costs are minimal (about $5 for a cool cover)… The only thing you have to invest is time!
What is the best passive income source?
The best? I just can tell you what worked for me… When I started to look for ways to generate passive income, I specialized myself to online marketing. Why? Because the starting costs are very low, the earning potential is huge, you can start part time and it is just a topic that I am passionate about! I have my own websites and I mostly do affiliate marketing.
If you want to know more about passive income generation and you want to support me, you can buy my eBook I wrote for you. If you don’t want to spent money, just check out my other articles, I write about a lot of stuff, especially online marketing.
Passive Income = Freedom
For me passive income is freedom! Well, financial freedom. I started searching for ways to get financial independent and how I could stop working and still to make money. Well, passive income was the answer. My goal is to travel the world… what is your goal?