Name: Passive Income: How To Make $700 Per Day
Uploaded: 2021-04-02T18:10:18.000Z
Duration: 9 min 36 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Around 4K years ago, in a kingdom in ancient  Mesopotamia. There was a guy named Arkad  

To-infinitive

who was poor like he could barely put food on  the table. To escape poverty, he worked hard;  

Past simple

however, when he received  the payment for his service,  

he lived very frugally and lent most  of his income to a shield maker,  

who then paid interest on the loan. Instead of  spending that interest to move to a bigger place,  

he kept living frugally, and lent that interest to  another shield maker, thus growing his wealth even  

more. After repeating this process for years,  his wealth grew so big that he did not have  

to work again since his money was working for  him, so he ended up the richest man in Babylon. 

Of course, you cant lend money to a shield maker  because that shield maker probably has a credit  

card or would rather go to a bank than look for  you. But that story illustrates the power of  

passive income. Nothing is more powerful than when  your money makes more money. It saves your time,  

effort and provides you with financial support  to pay all of your bills, but very few people  

achieve that milestone where their money  works for them and not the other way around. 

Chasing money is not a bad idea, but chasing  money your entire life isn't also a great idea  

because you need time for other things in  your life. That's why I try my best to create  

as many sources of income as possible. But most  importantly, make them as efficient as possible. 

The most famous passive income source is rental  income. You have a property that's rented out,  

and the tenant keeps sending you a check every  month. Since real estate is not cheap, that check  

could be big enough to pay all of your bills. But what if you don't have the money to buy real  

estate? Of course, you don't need hundreds  of thousands of dollars to buy a property.  

All that you need is enough for the downpayment.  The rest will be covered by your tenant.  

Even if the property doesn't generate income  in the first year or so, it will in the future  

once rent prices rise year after year. But real estate isn't the only place  

where you can build passive income. In the 21,  there are far more tools than most people know,  

so in this video, I want to share with you  some real passive income ideas that you can  

implement right now! And most importantly,  you don't need a lot of money to start! 

When we talk about passive income, we never  mention vending machines because they don't  

sound as exciting as real estate, for example,  but if you think about it, it's that kind of an  

asset that provides a constant stream of income  and requires minimum effort if you automate it.  

There were 5 million vending machines in the  U.S. in 2015. These 5 million vending machines  

produce an average of $20 billion in sales  each year. But most vending machines earn  

around 5 dollars a week because it's not an easy  business like any other business. Even if your  

property is placed in a bad neighborhood,  it will probably turn into a liability.  

But, a well-placed vending machine can earn far  more than that, potentially exceeding $100 per  

week or even hundreds of dollars per day.    

The challenge is to pick the right place and sell  the right products. If you place it somewhere  

where there aren't many people, it is going to be  one of those machines that earn 5 dollars a week.  

But if it's in a highly visible location  where it will regularly attract buyers,  

that's when you can expect a few hundred dollars  from it every week. It requires a lot of work in  

the beginning but minimum management later.  Isn't that the meaning of passive income? 

Before getting into this space, I highly recommend  everyone to study it further because you have to  

understand what kind of products sells the best?  What vending machines turn the highest profits?  

And what type of locations attract more buyers?   

2. At number 2, we have -  print on demand business. 

10 years ago, this business was impossible. It  just became mainstream recently, so it still has a  

lot of room to grow. You know, some businesses are  so old that it's nearly impossible to get in and  

succeed because they are so crowded, but that's  not the case with print-on-demand businesses.  

The global market for the custom T-shirt  printing industry is expected to cross  

T-shirts are cheap to source, have universal  appeal, and are relatively simple to customize,  

but it's a competitive field since there  aren't many barriers to entry. If you want  

to compete with Tesla, you need tenths of  billions of dollars to build electric cars,  

but if you want to start selling in-demand  t-shirts, you need nothing except a good idea  

because there are multiple platforms that take  care of everything starting from delivery to  

management. Your job is to design and sell.   

Whenever I see someone wearing a t-shirt with  something cool written on it. I want one as  

well. So if you have good taste, you can spend  some time designing cool t-shorts on Teespring,  

Printful, or any other platform. And run some ads. If you people find your designs desirable,  

it will turn into passive income where you can  keep selling your shirt with minimal effort.  

You can come up with a new design every 3-4 months  to sell another t-shirt to your existing clients. 

  3. REITs or real estate investment trust 

REITs are popular among investors who want to  invest in real estate but don't want to deal  

with management. Of course, renting a property  is great, but it requires some management,  

so there are firms such as American Tower  or Brandywine Realty Trust that invest in  

office buildings, for example, in Philadelphia,  Washington, D.C., and Austin. REITs are traded  

in the stock market like any other company, but  usually, they offer a much higher dividend rate.  

For example, Brandywine Realty Trust offers a 5.5  percent dividend rate, that's is incredibly high.  

But you have to understand that their stock price  doesn't increase much. Most of the money you are  

going to make is from dividends. There are a  lot of different REITs. Some of them invest in  

commercial properties, others in residential  areas, some just own land across the country,  

and so on. The high dividend yield is what  makes them a good passive income candidate,  

but be carefree with them because if you invest  in the wrong REIT, you might lose your investment  

at the cost of high dividend, so pay attention to  how the Trust has been performing over the years. 

If you have an extra room in your house that you  do not use much, renting it on Airbnb is the way  

to go. With Airbnb, you will most likely rent it  twice higher than renting it on a long-term basis. 

Of course, Airbnb means a lot of management  because you need to clean the room,  

make sure it has all the necessities  before every new guest comes in  

but nevertheless, its a great source of income. And since your guest is going to stay in the  

next room, your guest won't ruin your  room. Some people even take a mortgage  

and let Airbnb tenants pay off their mortgage.  It's a great way to build wealth over time. 

Of course, with covid, it has  become much more difficult,  

but I have no doubt that things will get  back to normal because we humans are social  

creatures. We can't just be isolated. We  want to travel, we want to see new places,  

we want to move around, we have been doing  that since the beginning of human existence.

5. Invest in a small business as a silent partner  When we talk about starting a business, we usually  

mean starting a huge business but there are plenty  of small businesses that could be very profitable  

such as a corner shop or a barbershop. Of  course, running a corner shop is a full-time job,  

but it could be turned into a passive income  if you join the business as a silent partner. 

In business, there is a concept called - silent  partner, where you don't deal with the day-to-day  

management of the business but rather play more  of an advisory role. These types of businesses do  

not need huge capital, and their business model  is pretty simple. You don't have to be a genius  

to find out how to start a profitable corner  shop, just take a look at what others have done.  

You might go 50/50 with someone else  who is going to run the business  

on day to day basis and will get a fixed salary  for it, but you are going to have a constant  

stream of income. , But its important to make  sure your numbers work out on paper at least  

before starting anything in this field  because it is an investment eventually.  

  I didn't include traditional passive  

income sources because we have talked about them  in previous videos, but if you think about it,  

Subtitles ListPlay Video

Passive Income: How To Make $700 Per Day

constant

deserve

effort

potentially