11 Passive Income Ideas That Make Me $20,000/Month

today I'm going to go over my 11 passive income streams that make me over $20,000 in profit per month I'm going to rate each of them based on how hard it is to start make $100 per month and maintain by the end of this video you'll have some new passive income ideas to pursue let's begin first on the list storage I run a full service storage company that picks up stores and delivers items for customers storage is an incredibly passive income stream we literally put items in our facility let them sit there and take in tens of thousands of dollars every month that's it very straightforward and easy well at least when it comes to the storage aspect the other parts not so much to start I'm going to rate storage five out of five it is insanely hard to get off the ground you need tons of money to buy or lease a facility and if you provide Moving services like my company you have to deal with physical labor trucks equipment employees schedules and headaches I wanted to start this video with storage to illustrate that there's not really such a thing as passive income at least not in the way that most people Define it that it's income that can be easily made with little to no effort that's a lie the true definition of passive income is income that is made passively but only after a good amount of upfront work and ongoing maintenance to make $100 per month I'm going to rate storage two out of five you'll need to do some marketing to fill up the facility but once you have your first few customers it'll be pretty quick to hit that number storage ain't cheap to maintain I'm going to rate storage three out of five as I mentioned storing items is incredibly power passive however most items aren't stored forever so there is work to be done to continuously acquire new customers for my company that work is mainly marketing and moving thankfully we've implemented various systems and processes to automate our marketing and reduce the amount of moving we have to do moving on to a passive income stream that's much more accessible to everyone is hisas otherwise known as high-interest savings accounts these aren't your ordinary savings account that give you a mere 0.5% interest I'm talking about the ones that give you four five 6% interest hisas are my go-to way to earn passive income with any short-term savings that I have as it earns me guaranteed money that I can withdraw at any time to start I'm going to rate hisas one out of five it's super easy to open one there are many financial institutions out there with hisas including your current bank I bet although if you want to access the highest interest rates offered in the market you may need to join another financial institution to make $100 per month I'm going to rate hisa three out of five the catch to this almost perfect passive income stream is that you need money to make money to reach $100 per month in passive income at a 5% annual interest rate you need $224,000 saved up that's a decent stack you need to have just lying around to maintain I'm going to rate hisas one out of five once your money's in there there's nothing else you need to do at the most you might transfer your savings to another financial institution to chase higher rates or promotions but that's up to you as a YouTuber I make money from Google AdSense which is YouTube's advertising program every time you see an ad on one of my videos YouTube pays me a certain amount of AD Revenue currently I make thousands of dollars of passive income every month from the views I get to start I'm going to rate Google AdSense three out of five starting a YouTube channel is ridiculously simple you create an account and you're Off to the Races but to start earning money from Google AdSense you'll need to qualify for YouTube's partner program and that is much harder to do to be eligible for monetization your channel needs 1,000 subscribers and 4,000 watch hours in the last 12 months or 10 million views with shorts in the last 90 days neither of those are easy feeds once you do meet those requirements though you'll be able to monetize your channel and start earning money from your views to make $100 per month I'm going to rate Google AdSense four out of five getting monetized is just the first step you'll need to consistently get a lot of views how many views if we use the average RPM of $2 AKA you get paid $2 for every th000 views it comes out to 50,000 views per month that's a lot fortunately the more videos you put out the easier it will be to reach that amount as having more videos exposes your channel to more views to maintain I'm going to rate Google AdSense 2 out of five once your videos are up on YouTube you can sit back and relax Google AdSense will do its thing and you'll passively earn money for as long as you get views now views on videos typically die down over time so you'll still need to continue posting videos to keep things up if you're a current or aspiring content creator and want to know the best ways to get views on social media right now I've Linked In the description a global social media trends report that you can download for free it explores the latest top trends and opportunities in social media including the best performing content types the best times to post and a bunch more valuable data to help you make money with content this free report was made by HubSpot a big thanks to them for sponsoring this video and speaking of sponsors number four brand sponsorships I work with Brands to promote their products and services through YouTube Instagram and Tik Tok and make up to tens of thousands of dollars a month doing so now you could argue that brand sponsorships aren't a passive stream because when a brand sponsors you you have to actively create new content for them however depending on how you look at it it is in a way passive as a YouTuber I create videos now whether I have sponsors lined up or not I'm still going to be creating videos it's something I'm already going to do so brand sponsorships don't really create much additional work for me other than some small changes in the script and editing to start I'm going to rate brand sponsorships three out of five it may take a while to land your first sponsor you not only have to create content but you have to build your following to a big enough size to attract them in the first place most importantly your content needs to be sponsorable what I mean by that is that your content has an audience that is desired by many sponsors for example you might have an Instagram account that posts memes unfortunately meme content is not very sponsorable because its audience is quite Broad and there's just not much money to be made from them now compare that to Tech or makeup content these types of content are way more sponsorable because their audiences are specific they have money to spend and they're usually more willing to spend especially if their favorite influencer is telling them to buy something to make $100 per month I'm going to rate brand sponsorships three out of five its difficulty will be different for every content creator numerous factors can influence how much you get paid such as your Niche audience views number of followers conversion rate reputation and more to maintain I'm going to rate brand sponsorships four out of five you essentially have to maintain your level of success as a content creator this means creating good content getting views and continue being sponsorable Honestly though even if you check off those boxes you still might not be guaranteed a consistent flow of sponsors you might have no choice but to seek brand sponsorships out yourself or join a talent agency to help you find sponsors I'm fortunate enough to be at a point in my career where I rarely need to reach out to sponsors sponsors usually email me first which makes things very passive and keeps my schedule full to help create stability I also sign long-term multivideo deals number five print on demand print on demand is a process where you get a company to print custom products for you only when you make a sale there's no need to handle the inventory printing packaging or shipping they do it all for you which means it is very passive there are all kinds of products you can sell using print on demand I've sold custom t-shirts hoodies wall art mugs ornaments and plenty more to start I'm going to rate print on demand two out of five all you need to do is pick a print on demand service like printful select a product from their catalog and add a design creating designs will be the bulk of your work to do so you can use printful built-in design maker Photoshop canva and AI art generators once you have a design ready you just paste it onto your product connect that product to a Marketplace like Etsy or your own website and you're set to sell to make $100 per month I'm going to rate print on demand three out of five it'll depend on what product you're selling some products like t-shirts and wall art have higher profit margins than others like stickers the higher the profit margin the less sales you'll need every month to reach $100 no matter what product you're selling though success with print on demand boils down to having good designs you'll need to Target profitable niches with designs that stand out if you want to make sales to maintain I'm going to rate print on demand two out of five once your custom product is up for sale your print on demand service will take care of everything from here on own the only maintenance work you'll need to do is marketing and making more designs to serve more customers and boost sales number six marketing agency I offer services like marketing content creation copywriting and social media management and have made tens of thousands of dollars doing it it started as an active income stream with me putting in hours to offer those Services myself however I've since turned it into a passive income stream by implementing two big changes the first is outsourcing hiring workers has completely freed me from daily operations and now I spend maybe just a few hours a week on it the second is AI it has automated all of our copyrighting we use chat GPT and hubspot's campaign assistant this free tool is particularly great because it's specifically designed to generate copy for social media ads landing pages and emails to start I'm going to rate marketing agency four out of five while starting a marketing agency doesn't take much you basically just need a website and an email address it's much harder to get to the stage of having one that's passive unless you immediately start with Outsourcing which I don't recommend especially if you don't have expertise on what you're Outsourcing it's going to take some work to establish your agency you'll need to cold call email and network to find clients you'll need to hold sales calls to close deals and most crucially you'll need to be able to actually give your clients results eventually as you grow your agency you'll gain enough knowledge and money to Outsource your work and that's when it can become passive to make $100 per month I'm going to rate marketing agency two out of five while it depends on the services you offer and prices you charge I'd say it only takes one or two clients to hit that $100 per month Mark the key is to make sure your Revenue covers your Outsourcing expenses to maintain I'm going to rate marketing agency three out of five Outsourcing can take the day-to-day tasks off your plate but you'll still need to manage your workers and review their work from time to time additionally if you want to expand your agency you'll need to continue bringing in new clients while keeping your existing ones happy my agency is not taking on new clients right now so I'd say mine is much more passive than most number seven affiliate marketing affiliate marketing is when you promote a product or service using a link and earn a commission for each sign up or purchase that you generate through there are many ways to share these affiliate links paid ads blog posts websites and most commonly social media for my affiliate links I list mine in my YouTube video descriptions and by simply doing that I earn hundreds of dollars every month from their conversions to start I'm going to rate affiliate marketing one out of five there are thousands of affiliate programs out there that you can sign up to for free like Amazon and Shopify they'll give you a link to share and then it's up to you to share to make $100 per month I'm going to rate affiliate marketing three out of five its ease depends on what you're promoting every affiliate program is different some pay per sign up per purchase per click some pay a few dollars some pay a few hundreds of dollars all those variables will impact the road to $100 per month I will say typically the more lucrative a product or service is the more its affiliate program will pay for example anything related to business and finance if you want to hit $100 quickly hunt for those types of products and services to maintain I'm going to rate affiliate marketing three out of five while the affiliate links themselves are maintenance-free converting people through them every month can be a challenge you'll need to consistently bring traffic to your link through ads or posting content to reduce the workload I suggest promoting affiliate links through Evergreen content content that can remain relevant for a long time such as tutorials guides and reviews these can bring in traffic consistently over the long run which can help you maintain this passive income stream number eight digital products these include PDFs templates eBooks online courses art media and more it's very manageable very scalable has a very high profit margin and of course it's very passive to start I'm going to rate digital products two out of five with everything existing on the computer creating digital products is quite easy and cheap there are no manufacturing fees your products won't take up space in real life and you'll never run out of inventory because you can just copy and paste forever unlike physical products you can sell digital products to anyone around the world at any hour with no shipping fees places you can sell digital products include marketplaces like Etsy and your own website to make $100 per month I'm going to rate digital products three out of five because of how easy it is to start selling digital products you'll likely face High competition which can affect your sales and prices as long as you can show your digital product provides value and its marketing is done well I'm sure there'll be a crowd to buy to maintain I'm going to rate digital products two out of five you might need to update your digital products once in a while if they ever become outdated but other than that your maintenance work pretty much all comes down to marketing you'll need to continuously promote your digital products to keep generating sales number nine ETFs or exchange traded funds these are a large basket of individual stocks or bonds that you can invest in for example there is an ETF that tracks the S&P 500 Index which is made of the 500 largest publicly traded companies in the US the average S&P 500 return is about 10% per year so ETFs typically bring in more money than hisas but note this is just an average it's not guaranteed every year and until you sell your shares the money you do make with ETFs only exists on paper H can we count that as passive income then if we Define income as money that you can touch and spend I guess not unless your ETF pays dividends Dividends are regular payments made to shareholders many companies pay out dividends from their profits every quarter and you can touch it you can spend it it doesn't solely exist on paper if you want to earn passive income from ETFs Dividends are where it's at to start I'm going to rate ETFs 1 out of five it's a breeze to invest in one you just need to open a trading account deposit money into it and invest in the ETF now to make $100 per month I'm going to rate ETFs three out of five they face the same catch as hsas in that you need money to make money the average dividend yield of the S&P 500 is about 3% so to make $100 per month in passive income you need $40,000 invested surprisingly that's more than what you need than hisas then again we're only considering dividend returns and not capital gains which is where most of the reward from ETFs come from also at the time we're recording this video interest rates are at their Peak so I don't expect these current HSA 4 5 6% returns to last forever to maintain I'm going to rate ETFs 1 out of five you simply invest it and forget it this is as passive as it gets number 10 real estate I purchased my first property last year and I am so happy to finally be in the market there are two main ways to make money from Real Estate the first is appreciation real estate values tend to increase over time so with a good investment you can make a great profit when it's time to sell now again can we consider gains passive income just like ETF shares until you sell those gains only exist on paper so technically no to generate real passive income we have to look towards the second main way to make money from Real Estate which is renting out your property this is the way to have real estate be a passive income stream to start I'm going to rate real estate four out of five it's pretty obvious you need a lot of money to purchase a rental property particularly if that property is somewhere valuable I live in Van couver ranked the least affordable city in the world after Hong Kong and Sydney we're at the million dooll house this house is insane it has three bedrooms two bathrooms and a kitchen if you have the money though for a down payment you're ready to dive in the next steps would be to find a property analyze it and its neighborhood crunch some numbers to ensure it's worth the investment get a mortgage and finally purchase the thing depending on the state that it comes in you might have to fix some things up but other than that you can start renting it up to make $100 per month I'm generate real estate three out of five you should be able to profit $100 per month from rent after your mortgage payments and expenses if you can't you probably bought the wrong property or you didn't put down a large enough down payment in many expensive cities like Vancouver positive cash flow properties practically don't exist unless you put down a large enough down payment that's why for my property I plan to live in it for a while to build up My Equity so when I rent it out later on I'll hopefully have enough money invested in the property for it to generate positive cash flow to maintain I'm going to rate real estate three out of five if you have a peaceful tenant who pays rent on time it shouldn't be too bad other than some handywork and a few phone calls here and there however if you have a bad tenant it's going to be a nightmare make sure you do your due diligence to make things easier you can hire a property manager to manage everything for you of course they will cut into your profits but it may be worth it if you want real estate to be as passive as it can be number 11 licensing fees licensing fees are fees that you charge when you give someone permission to use something that you've created those things can be stock photos stock footage music designs ideas products pretty much anything that can be considered intellectual property for myself I've mainly licensed out my YouTube videos to brands that I work with and even to YouTube themselves these opportunities don't come by often but when they do there's passive income to be made to start I'm going to rate licensing fees two out of five you just need something to license out once you have that you can decide your prices come up with some terms and you're ready to go to find people who license your thing the best way of reaching them will depend on what your thing is if you're licens out media like stock photos or music there are many licensing companies out there that you can submit your media to but if you're licensing out an idea you likely have to pitch directly to companies to make $100 per month I'm going to rate licensing fees four out of five having something to license out is easy convincing someone to license it is hard think about it someone needs to consider your thing so valuable and unique that they're willing to pass on all other alternatives to pay you to use your exact thing that can be rare however if you're lucky you might just get a licensing request and when that happens earning $100 should be no problem to maintain I'm going to rate licensing fees two out of five there's not much you need to do after you've licensed out your thing you just passively take in the cash until your license expires based on your contract and those are my 11 passive income streams if you enjoyed this video be sure to like it subscribe if you haven't already and peace out oh

Channel: Jensen Tung

Views: 61,206

Keywords: jensen tung, passive income, business ideas, passive income ideas, passive income streams, how to make money, passive income side hustles

Id: aC0GZEetVEw

Length: 18min 29sec (1109 seconds)

Published: Thu Mar 28 2024