Most of us believe that to make money, we have to invest more of it. Either time or money, that’s what we should worry about. But there’s a way where you can make money without expending your time or money. This is called passive income. This requires little to no effort to earn and maintain. I have listed a number of online passive income investments here.
1. Writing e-books
Are you conversant at a particular subject, topic or issue more than an average person on the street. This is an opportunity for you. Furthermore,it requires less upfront investment in time and money. Platforms like kindle have hundreds of e-books being hosted and can be accessed by readers. You can also outsource service to an experienced writer who can ghost write for you and still make money by selling the book.
2. Making YouTube videos
This is an idea growing by the day. The effort is coming up with an idea, video script, shooting and promoting. Keep in mind that not many Kenyans have access to enough data to access YouTube, so it calls for you to come up with a demographic topic wisely. Make informative or even entertaining videos so that you can monetize them. Kenyans love politics, gossip and sports so I prefer that you find a topic in any of these.
3. Rent out an extra room in your house
You might be holding something that can make you money. This means that spare room you don’t use in your house. I bet you most likely have a friend who might need it. This is a chance to let it out to that friend in exchange for monthly income. It can also be that person you trust because you will be in the same house. Also check on side hustle jobs for youths in Kenya
4. Online course
Similar to the first point (e-books) online course is where people cab learn. For this, you have to choose a topic you are knowledgeable and create content. You can host it on udemy.com which also gives you tips on how to create an online course. Therefore, once the course is up, most platforms do the marketing and selling for you at a cost.
5. Real Estate Investment Trust (REITs)
This involves investing in real estate through real estates companies. You will own a piece of real estate portfolio owned by the company. The interest is what you earn in return. So, depending on money you have and the minimum REITs are willing to take, you can make considerable amounts every month. That is, according to the payment plans once the project is complete and tenancy is achieved. In Kenya, some of the licensed REIT’s include CIC Asset Management, Fusion Investment Management, Centum Asset Managers and UAP investments.
6. Try affiliate marketing and earn commission.
This is a passive income method that may work best if you maintain an active blog PR website. And just like any legitimate money making scheme, you first need to create a tribe ( fans) who are potential buyers.
So to earn a commission from affiliate marketing, you either go for a ready-made tribe (like what you find on freelancing websites such as UpWork, Fiverr, etc) or create your own tribe from ground up (like the readers on EvaMtalii website).
Whichever way, you will need to sign up with the affiliate marketing companies so that you can start promoting their products o services. There are thousands of vendors looking for affiliate marketers who you can approach directly, or through affiliate programs such as MaxBounty, CJ affiliate, ClickBank, AWIN, ShareaSale.
7. Registering and selling domain names
This is another way of making money by registering catchy domain names then reselling for a premium. You can also buy the domain name, host it on a platform such as BlueHost or host pinnacle, rank it on Google, and then re-sell it.
Some blogs typically re-sell sell their websites 24 times their monthly income. So, lets say you succeed in monetizing your post and you’re earning Ksh. 12,000 per month from it, you can sell it for Ksh. 288,000. That is a lot of money. There are various platforms and marketplaces whereby you can list your domain names, websites or blogs such as Flippa.
If you would like to learn more about selling blogs, feel free to contact us. We’d be happy to tell you more.
8. Inveting in Money market funds
A money market fund is a mutual fund that invests solely in cash and cash equivalent securities, which are also called money market instruments. These vehicles are very liquid short-term investments with high credit quality. You can invest your money in some market funds, I won’t delve further into it because you it is well expounded here
those are some of the various ways of making passive income online. You notice that they don’t require much time and effort. Just a little planned action and you will make money as you sleep. To this end I positively think you have picked one way for passive income, so what next? Act upon it.