Low Cost Business Ideas to Generate Passive Income

[Jasmine]

Here are 2 low cost business ideas to build a passive income.

Rent out items that you own

If you own a music system, a professional camera, lighting equipments, home, car, bike etc. you can rent these items. You can also rent out your extra space in your home for storage, or even your designer outfit. All you need to do is run ads on classified newspapers, or websites. You can try craiglist for advertising or use Airbnb to rent out your room. Go to neighbor.com to find customers to rent out your extra space. You can rent out your car through turo.

Peer to peer lending

Peer to peer lending means you lend money to other people through a mediator (website or lending platform) and the earn interest. There are websites where you can lend money, will not only receive your principle but also earn interest. Some of the popular platforms for peer to peer lending are lendingclub.com, prosper.com, fundingcircle.com

 

[Flow-er]

There are lots of businesses that you could do that will not require much income but you will earn lots of money. This is basically the type of business for those who doesn't have much capital. Using the items that you already have for a rent is a also a very good business that requires no capital. Basically there are business that one could do without having much of the needed capital for a big business. You could do an estimate agent business. It is one of the businesses that does not require lots of capital . The estate agent in my locality would get a small shop that would serve as the office space. You don't have to spend huge amount of money to buy the furniture that would be used for the office. You could just get a low cost bench and table, then get a banner to display your services. The banner Will serve as an advertisement for the services that you are offering. With little capital there is absolutely no limit to the amount of money that you could make. You could make an amount as high as $500 on a single transaction. You will charge commission on any land or house that you were able to sell . The estate agent will collect 10% of the amount the property was bought as commission.

 

[Mika]

I don't have a house, therefore, I can't rent out rooms. I have a motorbike, but I can't rent it out because I need it for myself. I don't have a professional camera, I do not have a designer dress, and I do not have anything that I can rent out. If you are in a situation like mine, you have no chance of making money by renting. I don't have cash, I have invested my money in shares and other businesses, therefore, I cannot use peer-to-peer lending. If you do not have spare money, ending to make profits is not applicable to you. One of the best ways to build passive income through investment is by investing in high yield saving accounts or buying high-paying dividend stocks. However, this is not possible for a lot of people due to the amount of money you are required to invest. It is not passive income but I think selling services, is the best way to make money because you do not have to spend money. For example if you are a programmer, you can help people build websites and you earn money. There is no risk in this kind of business.

 

[Shaf]

The two you mentioned are good ways to earn passive income, but it can be equally stressful. With renting out things you have and don't use, you are almost running a business as you need to look for customers who need those things and are willing to pay to rent and not own them.

I prefer lending money, but doing that through online peer to peer platforms means you would only be receiving a cut of the profits you should get after the people running it have taken their share. It would be much easier to just buy shares or high dividend paying stocks.

In reality, earning passive income is much easier said than done and one should consider all the pros and cons of each alternative before settling for any.

 

[Ayuba Ernest]

Begin a home-based business of your own.
Among the many advantages of beginning a home-based business is the opportunity to work from wherever you want. Consider the following home-based businesses:
consultant: Are you an expert in a specific field? As a consultant, you can work with both corporations and people.


Do you have a natural talent for writing? Freelance writing is a great way to supplement your income.


Virtual assistants: Do you have the ability to keep track of multiple projects and deadlines? Become a virtual assistant and earn money from home.


Begin a small business from the ground up.
Start-ups are a terrific alternative for people with a strong sense of self-reliance and a basic understanding of how the commercial world works.


In a restaurant, do you like to prepare food?
Start a restaurant of your own.


Do you have a talent for baking? Start a bakery of your own.


A trip to the mall: Do you consider yourself to be a fashionista? Start a retail business of your own.


Do you have a specialized expertise that you can use to your advantage? Make money by starting a service business, such as a pet-sitting business or a house-cleaning service.

 

[soxcryp]

Interesting suggestions.
I must say that they are quite attractive to consider as possible options.
Giving added value to your suggestions is also the segment of cryptocurrencies. Although it is true that it requires a little study, it is quite similar to your contribution on loans. An investment in cryptocurrencies can then be placed in an exchange pool and generate passive income. Only in this case the placement can be short, medium or long term depending on the behavior of the market, since the output in this type of investment will depend directly on the type and valuation of the selected cryptocurrency.