You receive a steady salary from your day job, and that’s great! Still, you know there’s more you could do to make more money, be more accessible and enjoy greater flexibility. Thus, you decide it’s time to raise your current income.
One of the best ways to earn more with little work is to build a passive income stream. Therefore, this article outlines the top online platforms to make a hefty passive income while keeping your full-time gig. Finally, you will achieve more than you ever thought possible. Let’s dive in!
What is Passive Income?
Passive income is income that doesn’t require you to do a great deal of busy work to keep earning it. You can do most of the work upfront, then put in additional effort to generate income.
For instance, if you set up an online course, you must update the content to keep it running. You can generate income with a blog, course, eBook, videos, or online store even when you’re not working.
Top Online Platforms to Earn Passive Income
Here are the top online platforms to earn a hefty passive income.
Udemy
The Udemy platform works much like YouTube, but teachers organize videos into courses instead of distributing them. Over 52 million people use Udemy’s eLearning platform. You can purchase these courses for as low as $59.99. Fortunately, because of Udemy’s year-round discounts, most of these courses are only $9.99.
Self-hosted online courses can sell for hundreds of thousands of dollars. You can also run Facebook ads and set up websites and handle individual customer relations. Although this can be stressful, it can also be rewarding.
However, with Udemy’s model, you can sell courses at a lower price and sell more of them. It depends on your goal. A hefty passive income is what you want, and it provides this option.
Fundrise
Creating passive income through real estate can be time-consuming and costly, but it’s one of the best wealth-building strategies. Investing in real estate can leave you with a leaky oil furnace, angry tenants, an empty bank account, and a firm determination to avoid such situations in the future.
Luckily, there are plenty of ways to generate passive income through real estate without owning a house or spending a fortune. Online platforms like Fundrise provide hefty passive income through dividends and appreciation through Real Estate Investments Funds (REITs), which are private real estate assets. The average return for investors is 8%, according to Fundrise.
A unique feature of Fundrise is that it enables investors to invest in commercial and residential properties by combining their assets. There is no better way to beat the stock market year after year than to make 8.7 – 12.4% annual returns. Individuals in the blogosphere have reported modest gains, around 7-8% per year.
Amazon
You can earn passive income from Amazon. It is easy to make passive income from Amazon because of the ease of fulfilling orders and the systems that allow you to process orders more passively.
However, remember that setting up your Amazon store will require some effort at first. You’ll first need to identify a unique product to sell, contact a supplier, and ensure that your product listings rank highly for your target keywords.
You can begin fulfilling orders quickly and efficiently as soon as you have set up the Fulfillment by the Amazon (FBA) program. With FBA, Amazon handles the bulk of shipping logistics, so your business requires less time and effort.
OnlyFans
OnlyFans is an online content subscription service based in London, United Kingdom, where you can earn a hefty passive income. This site caters to artists and content creators of all genres and provides them with opportunities to monetize their work and build relationships with their fans.
The pay-per-view (PPV) feature allows creators to receive monthly funding directly from their fans besides one-time tips. As a creator, it’s beneficial to put your content behind a paywall to get the best of OnlyFans since it enables you to:
- Increase your content’s value, trust, and exclusivity
- Provide passive income
- Attract attention to your content
- Promote loyalty among your fans
- Provide a rewarding experience for content creators
Getting access to content requires users to pay a monthly or annual fee. 80% of the revenue goes to the creator, while 20% goes to the company.
Fiverr
There are few sites on the web where you can earn a hefty passive income, like Fiverr. Fiverr’s basic idea is what you would do for $5. There’s everything here: fun and ridiculous gags to legitimate and genuinely helpful tips for micro-businesses.
Both sellers and buyers can use Fiverr’s services. It is the best way to earn money and offers a wide range of services. You can earn passive income by using Fiverr by following these three ideas:
- Recruit experts in their fields to create online courses to sell on Udemy.
- Use experts in your niche to develop ebooks you can sell on Amazon.
- Provide software products and websites online by hiring freelancers.
Bottom Line
These are some of the top online platforms to make money without buying new things, and most require more work at the outset. You can use it to make more money for your next overseas trip or achieve financial independence. It’s up to you.
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