If you work form home or you are a mom who is looking after small kids, you might be interested in making some extra money on the side. Having multiple income streams is a great way to ensure that you make substantial profits at the end of each month. There are various things you can do to earn some in home residual income.
You can lend out money to other people and earn some interest. There are various online platforms that you can join for this purpose. These platforms have lenders and borrowers. So, you can lend to as many people as you want. Spread your risk by lending to multiple people small amounts of money rather than lending out one huge lump sum to one person. This way, in case one person fails to pay you back, you will only have lost a portion of your capital.
If you are good at taking pictures, take some nice, high resolution photos and sell them online. There are many photography sites that allow individuals to sell their photos on their platforms. What you need to do is to upload the pictures online. Anytime someone buys your pictures, you get a flat fee or a portion of the money it was sold for.
EBooks are also a great way of making some extra cash. You can write many eBooks and sell them online. Keep in mind that you have to vigorously market the books, so as to sell as many copies as possible. Anytime a book is sold, you earn royalties, which tend to be high when it comes to eBooks as compared to physical books.
Sell stuff online. You can buy things in wholesale and then sell them in retail at a profit. You will have to package and ship the items to the buyers. You don't need your own store to do this, as you can do it right from your house. You can also sell digital products. When someone makes a purchase, they just download the product from the Internet.
You can also invest in real estate, if you have the money to do so. Once you set the place up, you will have to find tenants. You will then be paid rent on a regular basis. If you are not into keeping up the property and all the hassles involved in managing real estate, you can hire a property manager to handle all this for you.
If you are a good speaker, then consider making your own videos and posting them online. Find a topic that you are interested in and you think a lot of people are interested in, and concentrate on that. Advertise your channel, so that you can get many followers. Businesses will then be willing to pay for their adverts to appear on your channel.
Another option is to invest in another person's business. Sponsor them, if they do not have capital and then you can share the profits. You won't get to be physically involved in the day to day management of the business, since the active partners can do this. This will give you time to do your other things.
You can lend out money to other people and earn some interest. There are various online platforms that you can join for this purpose. These platforms have lenders and borrowers. So, you can lend to as many people as you want. Spread your risk by lending to multiple people small amounts of money rather than lending out one huge lump sum to one person. This way, in case one person fails to pay you back, you will only have lost a portion of your capital.
If you are good at taking pictures, take some nice, high resolution photos and sell them online. There are many photography sites that allow individuals to sell their photos on their platforms. What you need to do is to upload the pictures online. Anytime someone buys your pictures, you get a flat fee or a portion of the money it was sold for.
EBooks are also a great way of making some extra cash. You can write many eBooks and sell them online. Keep in mind that you have to vigorously market the books, so as to sell as many copies as possible. Anytime a book is sold, you earn royalties, which tend to be high when it comes to eBooks as compared to physical books.
Sell stuff online. You can buy things in wholesale and then sell them in retail at a profit. You will have to package and ship the items to the buyers. You don't need your own store to do this, as you can do it right from your house. You can also sell digital products. When someone makes a purchase, they just download the product from the Internet.
You can also invest in real estate, if you have the money to do so. Once you set the place up, you will have to find tenants. You will then be paid rent on a regular basis. If you are not into keeping up the property and all the hassles involved in managing real estate, you can hire a property manager to handle all this for you.
If you are a good speaker, then consider making your own videos and posting them online. Find a topic that you are interested in and you think a lot of people are interested in, and concentrate on that. Advertise your channel, so that you can get many followers. Businesses will then be willing to pay for their adverts to appear on your channel.
Another option is to invest in another person's business. Sponsor them, if they do not have capital and then you can share the profits. You won't get to be physically involved in the day to day management of the business, since the active partners can do this. This will give you time to do your other things.
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