These Are My 5 Favorite Passive Income Makers

How you can generate money with minimal time commitment.

Passive income is the name of the game, especially for 2022. If you’ve heard people talk about making money in their sleep, this can be from passive income.

Here are my 5 favorite passive income makers you should try…

My 5 favorite passive income opportunities

Creating multiple income streams can be a path to wealth and a good way to increase your income smartly without having to actively work for it.

Check these out…

1. Affiliate marketing

First up is affiliate marketing.

This is about promoting other people’s products for commission.

Before you roll your eyes thinking making only commission isn’t worth it, it totally can be, especially if you’re earning a few bucks, a few hundred bucks or thousands of dollars without any ongoing work or maintenance.

Here are some screenshots from some affiliate marketing programs I make money from…

How it works?

Join affiliate programs. Promote the products. Earn commissions and make money passively.

You can join affiliate programs from networks like Shareasale, Amazon Associates, Maxbounty, and others.

You can also visit the websites of your favorite products and directly join their affiliate or ambassador program for their site (go to the footer which is where the affiliate program join link is usually found).

Where do you promote products?

I promote in my blogs, on Medium, on social media and to my email list.

How much can you make?

Payouts range from a few cents to thousands of dollars per commission, depending on what you’re promoting.

Some products I currently promote include Instacart, Uber, Doordash, various digital marketing courses and ebooks, email marketing software, hosting programs, and others.

If you want some inspiration, go to Tik Tok and search affiliate marketing.

There are tons of marketers making thousands per month and doing affiliate marketing full-time as their main source of income including beginners that have gone zero to $30,000/month, believe it or not.

How is this passive income?

You’ll need to do some setup in the beginning to turn on this passive income stream.

That includes joining an affiliate program and promotion but once you do that, no ongoing maintenance is required to make money passively with this.

Here’s a look at my email inbox…

These are my email notifications every time someone purchases this e-course that I’m an affiliate for.

I no longer actively promote this course, I just have a few blog posts and social media posts up about it that I created a while back with my affiliate link and if someone finds those and buys, I earn a commission!

Shameless plug: Here’s the link (it’s an affiliate link) to this course if you want to check it out to learn more about affiliate marketing. I learned affiliate marketing through this course which I personally took. Here’s more on it…

2. Ebooks

Ebooks are digital books.

Anybody can be an ebook author and write about something they know about. I’ve written ebooks on website flipping, Pinterest marketing, and more.

How it works?

Write the ebook, promote it, earn money every time you get a sale.

You can promote the ebook in blog posts including on Medium, social media marketing, email marketing, influencer marketing, and through other means.

How much can you make?

It depends on the price of the ebook and your volume of sales. A $10 ebook selling 100 copies a month is $1,000/month, for example.

I wrote an ebook about website flipping recently.

I make passive income from it since I don’t actively promote it, other than the few mentions I’ve made in my blog posts.

A screenshot from my email inbox..

I’m not filthy rich in ebook sales or anything but, I’m pretty happy to have created this new passive income stream that helps me make money in my sleep.

3. Courses

Next up are digital courses.

This works pretty similarly to ebooks. You create a course on a topic you’re knowledgeable about and then sell it.

Courses are like more expansive ebooks.

They require more work to create and require a lot of planning and organization as you put the content into modules, lessons, setup homework for students to take, quizzes, etc.

The course process can be as simple or complex as you want to make it.

I’ve been course-building for 5+ years with some courses being more successful than others.

Just because you make a course doesn’t mean it’ll turn you rich overnight or even make you a nice side income despite the six figure income reports you might have read from top creators. It’s just not guaranteed.

How it works?

Join a course platform like Teachable, Thinkific, Kajabi or others. Set up your course, publish it, promote and make sales.

If you can plan a launch event around the opening of your course and incorporate email marketing then you’ll have the potential to make a lot. It’s all in the planning.

Then, there’s no ongoing maintenance needed to make money in your sleep from course sales though, if you have the time to maintain it with promotion occasionally as with the other passive income streams mentioned above, you can probably make more money from course sales.

How much can you make?

Courses are usually more expensive than ebooks.

On the low end you could price your course at $50 (and, I’ve seen them as low as $25) and on the high end, a price tag at thousands of dollars isn’t unusual.

Then multiply that price by the volume of sales and that’s how much you can make.

This podcast reveals a new course creator that built a small email list and sold his SEO course in a launch that made him $55,000.

It can be done and creators are doing it everyday.

4. Crypto

Cryptocurrency is something pretty new to me but, I’ve dabbled in it to some fruitful results (I’ve also been scammed).

Here’s a little about my first foray into crypto..

How can you make passive income with crypto?

There are many options:

• Buy and hold
• Crypto staking

Buying and holding is just what it sounds like.

It’s how I turned $100 into $1,400 in less than a week investing in cryptocurrency.

I decided to invest in a cryptocurrency (it was Safemoon) and when it blossomed a few days later, I had the opportunity to sell, making 14X my investment.

This can potentially happen with any cryptocurrency.

What is crypto staking?

Crypto staking is where you buy cryptocurrency to stake at a high interest rate, earning money on the interest. It’s like you’re stashing your cryptocurrency into an account where it’ll sit, grow and earn interest.

It works similarly to how you put cash in a savings account and earn an interest rate on your money.

With savings accounts, the interest rates pale in comparison to what you can get with crypto staking.

I’ve been hearing a lot about Wonderland lately that promises something crazy like 73,000% APY. It’s wild.

I saw a podcast with Ryan, the couch flipping guy who put 100K into Pancakebunny and was making $12,000/month in interest. Wild!

As with any and all financial and investment-related mechanisms, consider the risk and cryptocurrency is high risk. I am not a financial advisor and this is not financial advice.

I’ve also not done this personally but it’s something I’m curious about and may venture into next year.

5. Rental income

Rental income can be made if you own or rent the property.

Own a home and do AirBNB, making passive income from short-term rentals. Rent a home or apartment and do the same. It’s called AirBNB rental arbitrage and AirBNB supports this model as well, believe it or not.

How it works?

The quickest way to get into short-term rentals is to rent out a home or apartment.

You will want to get the permission of the landlord before you put the unit or home on AirBNB.

You can also go the route of purchasing a property and this way you won’t have to gain permission from anyone because you’ll be the owner.

I haven’t done this yet but it’s very interesting to me and something I plan on trying in the near future.

For more on this, join communities and groups online where AirBNB hosts hang out. This can be Reddit, Facebook groups, etc.

*Honorable mention: Carvertisements

You make money passively by putting car advertisement decals on your vehicle and driving around town.

You don’t have to do any more driving than you normally do, just your regular commute and you can make up to $1,500 per campaign.

Many companies offer this and to learn more, check out this article I wrote about it:

There you go!

Now, in full transparency I have not done all of these.

I have tried about half of them but based on research, interviews, and what I’ve learned about the others, I would definitely try them and hope to in the near future.

Have you done any of these for passive income?

Which ones will you go for in 2022?

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