Passive Income Ideas: 30 Of The Best Ways You Can Make Money While You Sleep
Most of us are always looking for extra ways to make money and attain financial freedom.
This post adds to the list above by revealing 30 passive income opportunities to make money while you sleep.
What is Passive Income?
Passive income is that kind of money you earn with little or no maintenance of the initial product.
For example, you write a blog post like this one, add affiliate links, then every time a new reader visits the post and purchase using those links, you get a commission.
Therefore, passive income opportunities are ways to make money without redoing the original task like one has to do in a white-collar job every month.
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30 Passive Income Opportunities To Make Money while you Sleep
1. Make Passive Income Using Loans
Most of us are unable to invest in many business ideas because we lack the capital to do so.
This is one of the best passive income opportunities because there are many sites, such as ZippyLoan that are willing to give personal loans at low interest rates.
Once you get that loan, you can invest into one of all the other 29 passive businesses discussed in this post, or you can launch one of these online business ideas.
Also, if you pay your loan quickly on time in these sites, you shall get a commission, which is a great way to make passive income with little or no investment.
Check out legit loan sites where you can get unsecured loans with a bad credit record.
2. Use Smartphone Apps To Make Money
This is one of the best passive income opportunities to make money while we sleep because most of us own a smartphone.
What is more interesting is that this passive money making apps will pay you for doing so little or even close to nothing.
In most of these apps, you will earn points, which you can redeem into cash, gift cards, and sweepstakes entries among other prizes.
Nielsen Computer & Mobile Panel: Download and install this app, and it shall pay you for allowing it to track your mobile and internet usage.
InboxDollars: Get paid to watch TV and browse the web, things we do daily. Check out their Android and IOS mobile apps.
Fivver: Apply for freelancing gigs and tasks, such as writing, logo design, video editing and priniting among others.
3. Become a Blogger
Starting a blog is one of the best ways to make money online because you can monetize it in many passive income ways.
For example, these are common passive income channels that bloggers use to monetize their blogs: affiliate marketing, advertising and selling digital products.
Recommended Readings: How to monetize a blog and How to build a blog from scratch with zero coding expertise.
4. Become an Affiliate
Affiliate marketing is one of the most common passive income opportunities where you promote other peoples products; then you get a commission for every successful sale.
This is one of the best ways to make money while you sleep because any information on the web is accessible 24 hours for a lifetime.
Methods you can use to promote affiliate products
Paid advertising on Google ads, Bind ads, Pinterest promoted pins or Facebook ads.
Add them to blog posts and any other content.
Use email newsletters, campaigns and any other content sent to your email list subscribers.
Share the links on social media networks.
Create landing pages and sales funnels with LeadPages, Unbounce and Thrive Architect among others.
5. Invest in crowdfunded real estate
The good news is that real estate investment trust (REIT) companies, such as Fundrise, Realty Mogul and Rich Uncles among others have made investing in real estate very easy.
These REIT’s pull together many investors who contribute little cash to buy a specific real estate property. After a successful sales, each investor or shareholder gets a percentage of the profit.
This is one of the best passive income opportunities to make money while you sleep because apart from the profit of the sale, you will also get a recurring compensation fee between 2% to 10% annually of your total investment.
PROS: The returns are high, and you have a wide variety of real estate properties to choose from, which minimizes the risk.
CON: The major disadvantage of this passive income opportunity is that you need to make a small beginning investment to become a member of these REIT companies. For example, you need to invest at least $ 500 to get started at Fundrise, $1000 to get started at Realty Mogul and at least $5 to begin investing at Rich Uncles.
Other best real estate crowdfunding sites: GroundFloor, Holdfolio, and MinnowFunding. Visit this article here to find all other best options out there.
6. Invest in high-yield dividend stocks
Buying stocks, shares, bonds and other such property is one of the best passive income opportunities because the returns are high and there are many companies out there involved in such brokerage.
The famous Warren Buffet confessed in many instances that this one of those passive income opportunities which helped him to build riches.
To make passive income with this method, all you have to do is buy stocks in ETF’s; then you will earn recurrent dividends, which will get paid to you in the form of cash.
Some of the best ETFs around: Ally Invest, Vault401K, Motley Fool, and Dividend Stock Online among others.
Recommended: The basics of investing in dividend paying stocks and Building wealth with High paying Dividend stocks.
7. Peer to peer lending
Have you ever tried to take a loan from traditional banks? If you have you know how the process takes too long and in most cases, most of us do not meet the qualification requirements.
Therefore, peer to peer lending is an excellent passive income opportunity because there many people out there who have been denied loans by banks since they do not meet the minimum provisions.
The advantage of this make money while you sleep opportunity is that you shall get a 3 to 10% returns in your original investment.
The best peer to peer lending companies: Lending Club and Prosper.com
Recommended reading: How to build riches with peer to peer loans.
8. Open a high-yield savings account
Did you know that some banks will pay some interest just for opening a savings account with them?
What is more interesting is that some will give 20 times higher interest rates than those you find in other banks.
Examples of banks with high yield saving accounts: CIT Bank and American Express.
For instance, the lowest interest for CIT bank savings account is 1.55%, which is way too higher than in most traditional banks.
Related Post: 6 Ways To Save $500 Every Month
9. Write a book and sell it
The existence of self-publishing platforms, such as Amazon Kindle, SendOwl, Gumroad, and Blurb, has made selling books online very easy.
This is one of the best passive income opportunities because the value of a book never changes. I mean information never gets stale as long as the author keeps updating it to match emerging trends and facts.
Every time someone purchases the book from these self-publishing companies, you will get recurrent passive income while you sleep.
Recommended: The ultimate guide to self-publishing for beginners.
10. Make passive income from renting property
Several companies, such as Airbnb are looking for some like you to lend them that extra room where their visitors can stay during vacations and holidays.
Other companies you can rent your room with Booking.com, Tripping.com, TripAdvisor, and Expedia.
Apart from renting an extra room, you can also make money while you sleep in this passive income opportunity by renting cars at RentalCars, AirportCars, and Getaround among others.
Best marketplaces to rent stuff: Craiglist, Zilok and Loanables.
There are too many other things you can rent and make extra cash, such as clothes and bicycles among others, which you can find in these two articles here and here.
Recommended: How to make money with Airbnb
11. Create a course and sell it
People will always look for step by step “how to” guides, especially when they are beginning or building a business or any other project.
Such people prefer taking courses because they combine all medium of communication audio, video and text, which increases understanding. Therefore, creating an online course is a high paying passive income opportunity.
This is a popular passive income opportunity because there are many platforms you can use to create courses, such as Udemy, SkillShare, and Teachable among others.
Recommended: The ultimate guide to creating and selling online courses and How to create a profitable online course.
12. Make passive income with Youtube videos
Similar to a blog, creating a YouTube channel is very easy, especially if you have a smartphone.
There is a high possibility of making money on this platform because it is the second largest search engine in the world.
Also, uploading a video on YouTube is completely free! See a list of YouTube billionaires here.
Passive income ways to monetize a YouTube channel: advertising, sell digital products and affiliate marketing.
Recommended: How to make money with a YouTube channel and How to monetize a YouTube channel.
13. Earn passive income from shopping reward sites
Do you shop online? If you do, you can earn passive income every time you do that?
There are many sites that will reward you in different ways every time you shop online like the ones below;
Swagbucks: Every time you buy online, you shall earn points called SBs from this site. After gathering enough points, you exchange them into cash, gift cards, merchandise, charity donations, and other prizes. Get a $5 sign up bonus from Swagbucks.
MyPoints: Operates similarly like Swagbucks above. Get a $10 sign up bonus from MyPoints.
Shop tracker: All you have to do is install this app into your PC or mobile then link it to your online store. They will pay you $3 monthly for allowing them to access your shopping history data.
Paribus: After you install this shopping app, it will find stores which owe you after prices go down, then it will refund you the difference.
Ebates: Get the best cashback deals and discount codes from this site, which will help you make passive income through saving money when you shop online. Get a $10 sign up bonus from Ebates.
BeFrugal: It operates similarly to Ebates above. You will get cash back credits, coupons, and discounts while you shop online. That little money you save is passive income if you allow it to mature in one year. Get a $10 sign up bonus from BeFrugal.
14. Start an online store
Industry case studies show that most people prefer to shop online than in traditional stores.
For this reason, starting an online store is one of the best ways to make money while you sleep because customers will always shop 24/7 hours.
Two types of online stores: E-commerce store or dropshipping store.
Best platforms for building these stores: Shopify, BigCommerce, AliExpress, AliDropship, and Wix among others.
Recommended: A beginners guide to drop shipping and How to launch an online store from scratch.
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15. Sell physical products online
Selling things online is one of the best passive income opportunities because there are many platforms that will allow you to advertise your products. Every time someone buys your products from those platforms, you will earn a little cash after every successful sale.
Handmade products and Crafts: Sell such products at Etsy, eBay, and Bonanza.
Photos: If you have an eye for the camera you can sell your photos and other stock images at Shutterstock, Foab, Photolemur, iStock, Adobe, DepositPhotos, and Getty Images.
Designs: Sell logos at 99 designs and other designs at 3D Hand designs.
Themes: Sell WordPress themes and related products at Theme Forest and Envanto Elements.
Books: Sell old books at Decluttr, and BookScouter.
Used Baby gear: You can sell such stuff at several marketplaces, such as Craiglist and Bissell.
Amazon FBA: Amazon is one of the largest e-commerce marketplaces in the world. Since they have the audience and traffic, you can rent out a place in there site and begin to sell your products on their platform through the Amazon FBA program.
16. Sell Your Services
If you do not have a product to sell or capital to start an online store, selling services is another best passive income opportunity where you get paid for completing tasks for other people.
For example, you can offer writing, virtual assistance, proofreading, and other services to people.
You can also complete short tasks for people, such as bookkeeping then get paid.
Best freelance marketplace to find work: Fiverr, Freelancer, and Upwork.
Best job boards/sites to find work: Indeed, ZipRecruiter and Flexjobs.
17. Get one of these cash back credit cards
These are credit cards you use to pay for everything you do, such as shopping, eating and fueling among others.
For every amount you spend, these cards will give you cash back. For example,
Capital One® Savor® Cash Rewards Credit Card will provide you with a 10% cash back for any amount you spend on dining.
This is an excellent passive income opportunity because it will help you to save money you spend on different items and services.
Recommended: The best cash back credit cards.
18. Launch a webinar and monetize it
A webinar is a great marketing tool, which will help to grow the audience of your business.
Webinars are one of the best passive income opportunities because you can monetize them in a similar way you do with a blog or YouTube channel.
For instance, you can sell your digital products in the webinar. Also, you can recommend affiliate products to your audience where you will earn a commission if they purchase using your unique tracking link.
Recommended: How to create a successful webinar and Tips & tricks to creating money making webinar
19. Launch a website in one these passive income models
A blog is just one type of website you can use to make money while you sleep. There are many other passive income websites like the examples below;
Lead generation site: This is where you link clients to qualified professionals or businesses. Those businesses will pay you a commission for generating a lead/successful client to them.
Comparison site: For example, you can create a website which compares hosting packages. First, you have to sign up to affiliate programs of those host providers. When someone purchases a membership through your unique affiliate link, you will earn a commission.
Review site: For instance, you can set up an Amazon products review site where you help customers to choose the best products. You need to join Amazon associates affiliate program first to do this.
Membership/subscription-based site: These are sites where members have to pay a certain fee to access premium services or products.
Deals site: For example, you can create a website where different retailers sell vehicles, clothes and other products/deals.
Niche sites: You can then create “how to” guides monetized with affiliate marketing and ads on such a website.
Recommended: How to build a website from scratch: PART ONE & PART TWO.
20. Start a business and have someone run it
The idea here is being able to make money while you sleep in a passive income opportunity, right?
Then you can start a business then employ someone to run it while you perform other tasks.
Also, you can outsource all services and products your business will need, which means money will continue getting into your account even if you are not directly or actively involved in the day to day routine chores.
Recommended posts
- 40 online business ideas that will make you a millionaire quickly.
- Six businesses you can start with no money
- Five home-based businesses with no investment costs.
21. Set up one of these passive income businesses
Not all businesses require you to be there to manage them or make them work directly. Some are automated or run by the target clients.
Therefore, you can set up one of these passive income opportunities below and make passive income while you sleep from them;
Vending machine business: This is an automated snack, beverages, cigarettes, and lottery tickets machine, which will give customers those items after they pay.
Laundromat business: This is an automated machine that washes and dries clothes without any human assistance. Customers have to pay before using it so money will get into your account while you sleep.
Build batting cages: These are specialized areas used by baseball players to play or practice their games. There are rare to be found, which means this is one of the best passive income opportunities because there is little competition.
ATM Vendor business: People will always use such automated machines for cash withdrawals and other purposes. It is an excellent way to make passive income while you sleep.
Storage facilities: You can build a public or private place where business persons and other people can store their goods.
22. Sell ads on your car
Do you own a car/vehicle? You can quickly turn it into a passive income making machine though placing ads from trusted dealers on it.
This is especially convenient for vehicles used for public transport purposes.
Best Ad dealers: Wrapify and Carvertise. Read this post to discover 16 companies that will pay you to wrap your car.
This is one of the best passive income opportunities because there are other ways to make money with a car/vehicle such as the few below;
Become a driver at Uber or Lyft.
Get hired to deliver food at DoorDash, Ubereats, and Munchery.
Get hired to deliver packages at Instacart, Shipt, and Drizly.
Enter into a car sharing/renting deal at Getaround, Turo, RentalCars, and RVshare.
Sell your car at a profit at Blinker, Bissell, and Bonanza.
23. Delegate investing to machines
Do you hate analytics and numbers, which come with investing? If you do, the good news is that there are machines dedicated for such tasks.
These machines will analyze the market for you and offer best suggestions on which low-risk markets to invest.
It is a convenient passive income opportunity because the fees are lower than those you would spend hiring a human account manager, auditor, and analytics expert.
Also, a machine algorithm is more accurate, and it provides detailed feedback, which you can use to choose the best investment for your business.
Machines which can complete these tasks are known as Robo-advisors.
Best Robo-advisors: Betterment and Blooom.
24. Create sales funnel through email marketing
Email marketing is another simple way to make money while you sleep through selling to your email list subscribers.
This begins with creating a freebie also known as a lead magnet that will make people sign up through your landing page. For example, free ebooks, swipe files, templates, and courses are perfect examples of freebies.
Also, you will require an email marketing service provider, such as Convert it to be able to send messages to all your email list subscribers.
Most of these email marketing service providers will help you to create and host landing pages. You can also use LeadPages, Unbounce and Thrive Architect to create landing pages.
Note: You will need to promote/market your landing page actively for it to get subscribers.
Recommended posts
- How I built my email list from scratch
- How to market and promote your email marketing landing pages.
25. Design & sell T-shirts
The T-shirt business is one of the best passive income opportunities around.
All you have to do is design smart looking T-shirts and the sell them in one of these marketplaces; Teespring, PrintTech, and Threadless.
This is a perfect way to make money while you sleep because people will continue to order/ purchase your T-shirts 24/7 hours from the platforms above.
26. Website & Domain Flipping
Some people prefer buying domains or websites that have already been built as opposed to starting and building one from scratch.
The existence of Flippa and Empire flippers and other such marketplaces makes it easier to make money while you sleep through this model.
27. Start a Podcast or Audiobook
The same ways you shall make passive income from a blog, website, Youtube channel or webinar, is the same way to make money while you sleep with a podcast.
For example, you can monetize a podcast through the following ways; affiliate marketing, crowdfunding, sell digital products, offer coaching services and organized paid virtual summits among other passive income opportunities.
A successful podcast begins with using the right microphone with excellent sound quality like the Snowball iCE condenser and high-quality headphones.
28. Selling and reviewing music
If you are musically inclined, this is an opportunity for you to make money while you sleep in the following ways;
Create jingles, track audios, voice-overs, and other musical accompaniments, then license/sell them at Audio Socket, Song Freedom and Sound Cloud among others.
Get paid to review music and write tracks at SlicethePie.
29. Buy an existing business
Buying an already established passive income business is easier than launching/starting from scratch.
You can use several sites, such as BizBuySell to buy an existing business.
You will have many options to choose from, which means that there is a high possibility of picking the best option which will be appealing to your target audience.
30. Pyramid Scheme Business
This is a type of business where you recruit a person to join the network, then you earn a commission from their sales.
This is a simple passive income opportunity to use to make money because your income increases and more members join your network.
Other ways to make money fast (for people in the United States)
Use WordRemit to save money when transferring money from one bank or person to the next at a small interest rate.
Take a loan at iLoan today then invest it into one of these 40 online business ideas.
Start a Petcare business, and get the best cheap deliveries from 1-800-PetMeds.
Win one of this iPhone XS MAX, then resell it at a profit.
Find a cheaper home at Home Benefits Finance, then make money by saving extra money you spend on rent.
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Interesting article. Is there a way to make money online without investment? I’m not getting anywhere yet.
nice post
nice and useful post
Thanks for the ideas. May be I would like to write and sell a book some day, you never know.
You have a section in this article mentioning building mobile apps; however it simply repeats the real estate investment information. I am interested in mobile apps. If you can please send me this information I would be grateful.