Im 18 and have constanly been reading and listening to books about passive income, via various streams, and have decided maybe to start a small question thread here to post ideas and also ask for ideas from the community so we can all benefit from one another’s ideas. Basically the idea is to own a business that makes you money while you do nothing, so you dont physically have to make the money yourself.
Some of my ideas include things such as:
Coin Operated vending machines (i have heard however that these are becoming increasingly harder to make money off of as although there are always locations, the returns are not necessarily incredibly huge, and finding locations and emptying/refilling the machines as well as collecting the money do take some time.)
Coin operated laundry machines. (laundromat)
i love this idea because you can make the business on your own so finding the locations is no problem at all, and the returns are likely better than the vending machines as well. also, these could be used in your rental properties if you use those for passive income too.
Rental properties
i love this idea for the fact that if you get educated in real estate, you can get better deals than the average guy resulting in less headaches and loss if you happen to have problems with tenants. i love the idea of charging more than the mortgage cost so as to get payed monthly, as well as having your tenants essentially buy you a property over a certain amount of time. everyone buys where they live, it’s just a matter of if someone is buying where they live and instead of keeping it for hemselves, basically giving it to you.
Advertisements
i know there are companies who will pay you by the month/year etc to place a small (or large who knows) advertisement on your vehicle for their business. if you have 2, 3, 4, or even just one vehicle, wouldnt it be smart to do this even if you dont really drive it? i know there are some however who pay based on the milage accumulated, but still if you are getting payed to drive somewhere you actually have to go anyways, i think thats pretty cool
Blogging
this is not for me but ive read that many people who have blogs or are internet savvy can make even small residual incomes for just creating a blog. this does take initial startup time and you obviously have to write the blogs, but you still make money while you sleep.
Business
if you can own a business that makes money without you being there. if you can make enough profit to pay a manager to manage instead of you, once the building is payed off (you have to own the property obviously), there you go.
another twist on this would be a car wash, because you could own the car wash and the land, and eventually when you have payed it off, will reap the full profits, have been payed for the past so many years anyways from that car wash, and have barely ever done work or needed to be there to sustain it.
I know there are thousands of other ideas out there. Got any in mind?
Also a self serve gas station.
Self-storage facility people store their own stuff in your space, you never have to be there, and you make money
Self-storage facility people store their own stuff in your space, you never have to be there, and you make money
