Try peer-to-peer lending. Another residual income option that some people might be interested in is peer-to-peer lending. In peer-to-peer (P2P) lending, you essentially provide someone a loan just like a bank or credit union would. The returns you get from a P2P loan are far greater than the interest you would receive on an average savings account, CD, or bond.
This free course dives into what it takes to create quality content that generates organic website traffic, email list subscribers and customers. It also lays out what makes content thrive on social media and how to create successful content on a consistent basis. Other tips, like how to source free images for your blog posts, are valuable tidbits that provide value to beginners.
How to monetize this site: Sponsorships could make the site huge, advertising could make the site decent, and affiliate sales on products could do well too. I don’t see digital products being huge on this one except for the boat restoration niche, which could be cool. Find some boat repair/restoration experts on the internet and offer them $1,000 to spend two days with you showing you their boat restoration techniques. Hire a videographer for $500 to video the pro teaching you, and sell the video for $199.
Ashley Madison is a dating site with a twist. Of course, you’ve probably already heard about it, as the company has received plenty of media attention over the years. Basically, Ashley Madison offers a discreet dating service for people who are married. I’m not personally sure about the income potential, but there is clearly demand for the service.
Okay, so technically this isn’t a free course, but if you are new to LinkedIn’s online marketing training, you can sign up for a free month and take this handy course in social media marketing. Analyze what’s working via SWOT analysis, discover how to create a strong social presence that highlights your strengths, and gain inspiration by exploring the most cutting edge opportunities for social media to achieve even greater reach.
Type of site: Just make this a niche site for the first several years. Don’t waste a ton of time making a podcast and an in-depth youtube channel. Make a few videos to show some setups but mostly just write blog posts. If you create a podcast episode today, nobody will listen to it again after a few months. Write blog posts that will last. There is no competition here, so don’t get bogged down with social media and crap. Just write!
This can be a little easier said than done, but if you have a large social media following, you can definitely earn money promoting a product or advertising for a company. You can even combine this with different marketing campaigns if you are an influencer and have your own blog (advertisement + affiliate income). This is how many bloggers make money! Again, it is not 100% passive but once set up correctly and then scaled, can be surprisingly lucrative.
"You know what they say: 'Don't work for your money. Make your money work for you,'" Jenna Goudreau, Managing Editor of Make It, CNBC's new site focusing on all things money, tells Bustle. "That's exactly the goal with passive income: By being smart about the resources you already have, an initial investment of effort can eventually earn you money while you sleep."
My goal with this site is really only to write about 25-30 pages with information as I learn about boats and do customizations to my boat. I’m also adding a forum. Forums seem to be very popular with boat owners so I’m anxious to have others generate content for me. I don’t have huge plans for this site, but I’m sure it will bring in a few thousand a month if I don’t fizzle out. This is going to be my fun project for the next little while.