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P2P lending can be a bit risky, but there's potential for a fairly good return on your investment. In case youre interested you should take the opportunity to educate yourself and ensure you understand all the details. Peer-to-Peer Lending 101 from Great Financial Cents is an excellent starting point. .
Real estate crowdfunding sites enable you to invest in property without all of the headaches that typically go along with owning property. You dont have any of this work, you merely invest and take on a few of the risk.
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This is a really popular investment because so many people want to invest in real estate but dont have the time or want to be a landlord. In addition, in many instances you can get started with a relatively modest investment.
REITs (Real Estate Investment Trust) provide another way to invest in real estate without the hassle of being a landlord. The REIT owns income-producing real estate like office buildings, apartment complexes, shopping malls, or resorts. REITs make it feasible to invest in property on a small scale, and also to earn a share of the income produced. .
There are many different kinds of REITs. Some are publicly traded on a stock exchange, and a few are not. REITs may also be in the kind of mutual funds or ETFs.
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If youre looking for an easy way to start with real estate investing, REITs can be an excellent option.
Of course, another option for investing in real estate would be your excellent old fashion rental property. You could purchase a condo, single-family residence or multi-unit property.
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Owning rental properties can be a fantastic source of income, but whether or not it is really passive will probably depend on a couple of factors. The more possessions you own and the further tenants you manage, the longer you will need to put into it. If you want it to be a passive investment the best option is to hire a property manager. .
Here is a potentially rewarding passive income source which may be totally new to you. You can add authorized users to your credit cards (without actually giving them a card or access to your account) and be paid to do it. Individuals who are looking to boost their credit rating can get a increase in their score by piggybacking from your payment history.
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If youve never heard of selling/renting tradelines until it likely sounds ridiculous and dangerous. The first concern usually involves putting yourself in danger for adding an authorized user which you dont know and hope. But the process only involves adding the user to your account, the card will be sent to your own address and you can ruin it.
But, there is still some risk involved. The threat involves the chance of your credit card account being shut by the issuer, because in many cases this will be violating the terms. Its not illegal, but it does violate the details of the credit card companies, so they can close your account if they know you are doing it. .
Its definitely not for everyone, but some people are making good money with very little work. If you want to learn more I recommend reading this thread at Mr. Money Mustache for tons of details from a man who is making a few thousand dollars per month with this and its very passive. .
One of my favorite, simple ways to make money is through credit card bonuses. Many credit cards can read provide you a bonus just for signing up and for making a minimum amount of purchases on the card during an introductory period. For instance, right now Chase is offering a $150 bonus if you sign up for a Chase Freedom Unlimited card and spend $500 on the card within the first 90 days. If youre like me and you make most of your purchases using a credit card, hitting $500 in 3 months is easy. .
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Nowthis isnt something that you can do all the time, but you can sign up for a new credit card two a year, depending on your situation. Ive made hundreds of dollars all the previous two or three years with this approach.
Don't go overboard. Opening too many new credit accounts in a brief period of time can damage your ability to get credit when you need it.