Best Ways to Generate Passive Income
Many individuals are looking for opportunities to bring in passive income and contribute to their full-time salaries or to find opportunities to become their own boss. However, some are concerned that not having a college degree could prevent them from finding great opportunities to do so. Luckily, there are a multitude of ways to generate passive income without a college degree.
1. Real Estate Investments for Passive Income
Earning passive income through real estate investments is extremely common. Many investors choose to invest in rental properties in areas with lower home values, such as in the South, where median home values can be as low as $200K in some cities. This allows investors to put little to no money up front for an investment while bringing in immediate cash flow.
Best Real Estate Investment Market: Memphis
With a growing population and high rate of renters, the real estate investment market in Memphis is booming. Investors have the potential to increase their passive income rates and invest in more and more properties. Therefore, there is an immense amount of opportunity to gain passive income in the city of Memphis. A few popular areas for renters to invest are:
- East Memphis
Turnkey Investment Properties
Turnkey investment properties are a great way for real estate investors to receive passive income. Memphis CashFlow is able to provide investors with homes in the most ideal areas, resulting in a great passive income opportunity they may not be able to find elsewhere. A few benefits of investing in a turnkey property are:
- Little to no upfront costs
- Easy investing
- Low interest rates
Turnkey Properties in Memphis →
2. Podcasting & YouTube to Generate Passive Income
Podcasts and YouTube are becoming more and more popular. People choose these platforms for entertainment, news, tutorials, and more. Both YouTube and podcast platforms are continuously growing, giving anyone the opportunity to begin generating passive income.
Podcasting has become an extremely popular way for people to receive information and entertainment on a daily basis. The best part about podcasting is: it’s free. All you have to do is discuss topics that you’re interested in and grow an audience for your platform. Podcasts range from topics like crime stories to sports talk. No matter what your passion is, there is a podcast for you. Podcasts make money through listeners, sponsorships, donations, affiliates, and more. Just get started and see where the podcast world can take you!
OUR FAVORITE PODCASTS FOR REAL ESTATE INVESTORS →
YouTube has been around for years, but is continuing to grow in popularity for individuals of every age. Though creating content for you YouTube channel can take a bit of effort, most are doing things they enjoy. For example, many video gamers have YouTube channels solely about video games. Similar to podcasts, whatever your passion, there is a YouTube channel for you. YouTubers make money almost exactly like podcasts do. However, they also add in the amount of views you get on your videos.
3. Online Courses + Workshops to Generate Passive Income
Every single day, individuals are searching online for tools to better their knowledge on specific subjects and to find ways to advance themselves professionally or personally. Online courses and workshops are one way that many choose to invest in order to learn and grow. Common online courses and workshops are:
- Entrepreneurial advice
- Teaching seminars
- Career development
- Foreign languages
Passive Income at Memphis CashFlow
Passive income is a great way for individuals to make money with very little effort. There are many ways to generate passive income, and Memphis CashFlow loves being able to provide our customers with the information they need. The Memphis real estate market is booming, and now is the time to invest.
Turnkey Properties in Memphis →
If you’re looking to invest in rental property in the Memphis area, contact Memphis CashFlow today.