Passive Income Solutions You Have to Try in 2018
Some simply manage to beat the odds when it comes to passive income solutions. They succeed to make good money while sleeping, enjoying their families, spare time and even a real-life, 9 to 5 day-to-day job. How? The answer is quite simple: they searched long and well, found a legit passive income solution and now they explore the opportunity. If you think that such thing isn’t possible, think again. Many have succeeded, and many more will. Below are some of the most popular passive income ideas that you have to try in this fresh year.
Managed commercial properties
As the name implies, managed commercial properties are real-estate investments managed entirely by a property management company. But before starting such an investment path, you must know that you have to find a reliable consulting company that will help you in the matter. Outlined as a more profitable and easier 1031 property exchange method, these investments will bring you a generous monthly income, while you can forget about boring administrative matters. The consulting company will handle the process entirely, from finding a reliable financing source to finding an exchange property that meets your criteria, all the legal matters, even finding a reliable property management company and negotiating all the terms and provisions of the settlement. After this the entire process is handled by your team of experts you will only have to wait for your monthly transactions. Simple as that!
Peer-to-peer lending platforms are amazing places to win some passive income, if you’re interested in such matters. These platforms offer financing solutions to those who don’t qualify for traditional lending methods, and you can be one of their lenders. The profit varies between 6% and 10%. However, certain lending companies and platforms might offer you higher rates of return. Needless to say, this is a great passive income generator, if you already have some funds to lend.
Get out of debt and make some extra bucks
This is not a passive income investment method per se, but if you succeed to pay your debt before the term, you will end up with some extra cash. Since you won’t be paying anymore interest rates to your creditor, the money usually perceived for such matters will end up in your wallet. Which still makes this an interesting passive income source.
Rent that extra room you never use
If you have a generous property, why not rent that part of it that you never use? Of course, you may find yourself at that stage in life when a roommate is not ideal, but if you haven’t reached it yet, this might be more than perfect, especially if you don’t have a spouse or other family members living with you.
These are four passive income solutions you might want to consider if you already have other things going in your life. Some extra income never hurts, and if you make it in a passive fashion, it’s certainly worth your attention.