8 Passive Income Ideas - How I Make $2,000 A Day

over the past few months I've been consistently earning about two thousand dollars per day in passive income from nine different passive income sources and the truth is literally anybody can do what I've been able to do yes it will require a little bit of work but I'm telling you right now it's worth it and so in today's video I want to talk with you guys about nine different passive income ideas that I use personally to earn about two thousand dollars per day in passive income now with each of these passive income ideas I'd like to highlight three different things okay the first thing is how much upfront work is actually needed to start earning passive income with the idea the second thing is how difficult is it to consistently earn 100 or more per month with it and finally how difficult is it to actually maintain the passive income stream once you've started it and just so I don't get any hate in the comments yes I did get this idea from Ali Abdul but this is my personal take on the subject the first thing you have to know is that all of these passive income ideas will have varying degrees of difficulty and how much money you can make from them now for starters the first thing I'd like to establish is what exactly do I mean by passive income because regardless of what some people on the internet will have you believe passive income is actually a real thing it is 100 possible to go to sleep at night and still continue making money even without actively working and that's essentially what passive income is right it's the ability to make money without actually having to trade your time let me show you guys a really quick story okay so when I was younger I used to go camping with my grandpa almost every other weekend okay and this Campground that we would go to had a small 18-hole golf course and I remember once I turned 13 my Grandpa would let me use his clubs to go golfing by myself now here's the thing okay I am not a golfer not even close but I would take his clubs and I would go golfing and pretty much all the people on the golf course were much older than me much wiser and much wealthier in fact I was literally the only kid ever on the golf course and so here I am one day I'm golfing and I've got my driver Club ready to tee off and all of a sudden this small group of about six golfers pulls up in their golf carts behind me and at this point just to be honest with you guys I'm nervous and I'm embarrassed because I am not a professional golfer my swing probably looks terrible and these professional golfers behind me are gonna laugh at me once they see my horrible swing and so I get ready 13 year old Joshua you know I'm sitting there trying to act like I know what I'm doing and I'm looking down the the Fairway to pretend like I'm looking at the green to see where I should hit the ball right and then this this group behind me is completely silent and so I know they're watching me and so I get into position and I hit the ball and as luck would have it that was the best hit that I ever had and the ball went flying down the Fairway like almost into the green and the green is the part of the golf course that surrounds the hole this is where you putt the ball anyways when that happened this group behind me they just all started clapping right and then one of the guys walks up to me and he says fella you're like a young Tiger Woods little did he know that it was all just pure luck but then for the next like five to six holes this group behind me they let me basically play with them because they were impressed with my hit and the guy who called me Tiger Woods was basically talking the whole time and he kept asking me questions about like what I wanted to do with my life and things like that and of course being 13 years old at the time I had no idea but some something that he said to me that day is something that I'll never forget he said to me well whatever you do don't just get paid for eight hours in the day get paid for all 24. and at the time you know 13 year old Joshua had no idea what this guy was talking about and it wasn't until almost a decade later in my mid-20s that I realized what this guy was trying to say to me most people go to work for eight hours and they get paid for those eight hours but there's still 16 hours in the 24 hour day that you're not getting paid any money now obviously it's impossible to work 24 hours a day seven days a week right that's not what I'm saying but what if it were possible to set up passive income streams that did work for you 24 7 so that you can always be making money regardless of what you're doing with the cost of everything Rising I've been focusing a lot more on ways to save money and that's exactly why I'm so excited that mint mobile is sponsoring this video you might already know mint mobile from the Ryan Reynolds commercials but let me quickly tell you how awesome their service really is mint mobile offers premium Wireless for as little as 15 per month and you 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visit mintmobile.com Joshua Mayo the first and arguably the easiest source of passive income that you can start building as soon as today is getting paid from stocks many of you already know if you've been watching my channel for some time now that there are many stocks that will pay pay you monthly or quarterly paychecks just for owning shares of the stock and these stocks are called dividend stocks a dividend stock is a company that shares their profits with shareholders through dividend payments and you officially become a shareholder the moment you buy shares of stock from the company and the way it works is extremely simple let's just say for example that you owned 30 shares of a stock that pays an annual dividend of two dollars this means you would earn sixty dollars per year for those 30 shares of stock that you own and so let's answer our three basic questions and the first question is how much upfront work is required to start earning passive income through dividend stocks well honestly not a whole lot of work at all because all you need is a brokerage account and some money to buy the dividend stocks right and so in terms of upfront work it's an easy one out of five because there is no upfront work in terms of the best brokerage account to use my go-to recommendation is Weeble not only is Weeble easy to use with its clean modern interface but if you sign up using my link in the description below and deposit just one penny you'll get 12 free stocks valued up to 36 six thousand dollars now that does beg the question though how difficult is it to earn one hundred dollars per month in passive income with dividend stocks well let's do some really quick math so let's say for example that you wanted to invest in 3M because they pay an annual dividend of 5.96 per share in order to earn 100 per month in passive dividend income you would need to buy about 200 shares of the stock which is worth about twenty one thousand dollars and with that twenty one thousand dollars invested into 3M you would earn about 100 per month in passive dividend income but overall I would give this a three out of five it's not extremely difficult to start making passive income with dividend stocks but this is a classic case of it takes money to make money you have to invest your money into dividend stocks if you want them to pay you and the more you invest the more you'll get paid and then finally how difficult is it to actually maintain this source of passive income well this is an easy one out of five because it's extremely easy Once you own the stocks then you just have to keep on holding the stocks for them to keep on paying you dividend and come now I'm just barely scratching the surface on this subject if you wanted me to make a step-by-step video where I go in depth about how you can start making money with dividend stocks then drop a comment down below and let me know that you'd be interested in that video and if enough people comment then I'll make the video the next source of passive income is by making a YouTube channel and this is my personal favorite source of passive income but of course I'm biased now is starting a YouTube channel a lot of work yes it is but what I've learned over the years is that the best and highest paying sources of passive income often require the most upfront work you see something like dividend stocks basically has zero upfront work but the amount of money that you can make from dividend stocks is a lot less compared to YouTube so first thing how much upfront work is needed to start earning passive income from YouTube something that I always tell people is there's both an active and passive side of YouTube the active side is the continuous work that I have to do to produce content like this video the passive side is the fact that once I produce this video and put it out there well it's out there permanently right and theoretically it could make an infinite amount of money as long as the YouTube algorithm continues pushing it to an audience which if you did a good job producing the video then it will continue getting pushed by the algorithm because people will continue to enjoy watching it and so The Upfront work to start a YouTube channel is definitely a lot of work in fact I'm going to give it a 5 out of 5 on the work scale but once you've put in enough work consistently and your channel starts growing and momentum starts picking up then it becomes incredibly easy to start earning 100 or more in passive income like a one out of five kind of easy and then to maintain that passive income stream all you have to do is just repeat what already worked continue repeating it over and over again and build systems around your processes to make your workflow that much easier and passive for yourself and if you can do this then maintaining the passive income stream from your YouTube channel is going to be pretty easy like a 2.5 out of 5. but even Beyond just the passive income side of YouTube are all the benefits that come with building a large audience online and in many ways YouTube could actually help to fuel other past of income sources or at least give them a little boost for example the next passive income idea is affiliate marketing and with affiliate marketing yes it can technically be done without a YouTube channel or Tick Tock or Instagram or any other type of online following it can be done and people do it all the time but if you already have an audience in one of those things Tick Tock Instagram YouTube whatever if you already have an existing audience affiliate marketing just becomes that much easier to implement into your existing strategy so what exactly is affiliate marketing though affiliate marketing is the process by which you promote another person or company's product in exchange for money or commission for example I have a website called elementormarket.com and on that website I sell website templates for a WordPress page builder plugin called Elementor and so at the top of my website I have a link that says get Elementor Pro and when people click on that link it brings them to a page on elementor's main website where they can buy the pro version of the plugin and if they do end up buying it well then Elementor is gonna pay me a 50 Commission which on a 100 purchase is fifty dollars and so every single time somebody clicks on that link on my website which is an affiliate link and they buy the product I'll earn a commission from that and guys virtually every business and every Company online has some type of affiliate program even if they don't openly advertise it on their website for example Amazon has their Amazon Associates program sites like skillshare have affiliate program that will pay you a fixed dollar amount for every person that signs up through your affiliate link my own personal website Mayo University which is going to be launched soon will have a very generous affiliate program so if you're not already signed up you're missing out mailuniversity.com just enter your email and you'll be notified once that site goes live so first question how much upfront work is required to start making passive income with affiliate marketing well generally speaking if you don't already have some type of audience online even if it's a small audience then it is going to require a bit of work to get this thing up and running like a four out of five but if you do have an existing audience then honestly it's like a one out of five because you're not having to do any extra work as aside from maybe mentioning a product and then including some type of affiliate Link in the content but like I said earlier is it possible to do affiliate marketing without a social media following yes a lot of people make a lot of money with affiliate marketing without even having an online following but you do have to get a lot more creative how about how difficult it is to earn 100 per month in affiliate passive income well if you have an existing audience a one out of five like the example I gave to you earlier with my website elementormarket.com all I need are just two people to click on my affiliate link and buy the Elementor Pro subscription in order for me to earn 100 per month in passive affiliate income and if my website is providing value people will visit the website they'll click on my affiliate links and sometimes they'll buy the product and it happens every month sometimes several times per month and then finally how difficult is it to actually maintain the source of passive income from affiliate marketing well I would say this is a two out of five It's relatively easy as long as you're able to continue providing value be it through a YouTube channel Tick Tock and Instagram through your own personal website whatever it is as long as you keep providing value people will keep showing up they'll keep clicking on your links and you'll keep making money from affiliate marketing and the next passive income idea is starting a podcast now I don't have a podcast yet it is something I'm planning for the future but podcasts work very similar to YouTube in terms of the active work involved and the passive income that's created as a result of the active work in other words yes you will have to do the active work involved with recording the podcast finding guests and coming up with good topics that you know your audience will want to listen to however once that podcast is recorded and it's out there in the world it will continue making you money without you having to do any additional work and so how much upfront work is required to start a podcast well I'm gonna ask my good friend Andrew who is an expert on the topic because he happens to be the host of a very successful 4 million download podcast so podcasting is one of the easiest things to start just like YouTube because you just have your phone you can start with YouTube with podcasting all you need is some simple audio equipment and you need a hosting service so with the audio equipment it's actually much less expensive than a lot of people think you can actually get a 70 microphone and that microphone can sound absolutely amazing on a podcast then outside of that you need a hosting service so there are cheap hosting services like buzz Sprout or anchor or bus front I think it's about 14 bucks a month I think anchor even is free what it does is it pushes your podcast out to say apple podcast Spotify all those other things so it is incredibly simple to start a podcast I would say it is about a two just because you have to buy the mic and maybe some of the the simple equipment but outside of that it is incredibly simple to start a podcast so when you start podcasting it's going to take you a couple months to obviously get an audience the best way to to make money early on there's a couple of different ways one of the major ways is advertising and what happens is as you build up episodes and as you build up your back catalog and you get more experience in podcasting all of those episodes are going to start to compound just like a YouTube channel would so when you're starting off you'll make that hundred dollars pretty easily as long as you have that first thousand and listeners and then finally how difficult is it to maintain this passive income Source I would rate the difficulty as as a two when once you have your first thousand listeners so the difficult part is the first three months trying to get to your first thousand listeners maybe takes you six months but staying consistent within that six months to get your first thousand listeners so you can start to make money is the key next up we've got creating passive income through some type of membership Community an example of this could be patreon or even something like and only fans right and for those of you who keep on asking me in the comment section if I have an only fans no I do not if you want access to my super ultra secret only fans account comment down below but seriously though getting started with creating a membership Community is actually super easy right unless you plan on building an entire website from scratch setting up a patreon or something else similar is very easy to do simply go to the website and sign up that's it and for that reason I'm gonna give this a one out of five on the amount of upfront work needed the real question though is how difficult is it to build up a 100 per month passive income stream from a membership community and like with many of the passive income ideas on this list once again it depends if you have an existing audience already then it's going to be much easier for you to build up a membership Community because you can just direct your audience to join your membership Community if they're interested in that extra value if you're starting from scratch though as in you don't have any type of existing audience then that's a different story let's use an example imagine for a second that you have a passion for creating I don't know a homemade bird houses and you post content here on YouTube and Tick Tock and Instagram for free and your goal is to funnel people into your patreon account or perhaps your only fans page from your social media accounts and on your patreon page there's a membership option where people can pay like ten dollars per month to get exclusive access behind the scenes to how you build your bird houses or something like that in this situation if you could just get 10 people to sign up to your patreon well my friend there you go you are now earning 100 per month in passive income now of course we enter the same dilemma of this isn't truly passive income right because like with basically everything there is going to be a little bit of upfront work before you can start earning passive income on the back end and so how difficult is it to earn 100 per month in passive income obviously and I keep going back to this because it's true if you have an existing audience already this is probably going to be like a two or one out of five but if you don't already have an audience then you would have to figure out some way to give people a reason to want to join some type of membership community that you created and then finally how hard is it to maintain this passive income Source I would say this is a two out of five it would just be a matter of you continue continuing to provide value over and over again and you know create something that people are willing to pay money for the next passive income idea is selling digital products and many of you already know that we talk about digital products a lot on this channel and that's because I truly believe it's one of the best ways nowadays to make money online and when I say digital products I'm referring to a variety of things photography music ebooks creative resources like fonts website templates printables presentation templates and much much more the reason digital products are such a perfect passive income idea is because unlike physical products where you have to make the product ship it buy inventory and deal with the hassle of organizing all your supply and materials digital products don't require any of that if you watched my recent video which you can find on my Channel about how to make one thousand dollars per day building Squarespace templates and selling them on Etsy this is a perfect example you see with Squarespace templates you only have to build them once and once they're built you can theoretically sell those templates an infinite number of times without having to do any additional work than what you did originally when you first built the template and so let's answer the first question how much upfront work is required for this passive income idea well it depends on the type of digital product you're selling but for the most part it is going to require you to have either a phone or a computer as well as either some previous experience building some type of digital product or a willingness to learn how to do it going back to my Squarespace template idea I would assume I would guess that many of the people who watch that video that I put out on my channel didn't know how to sell Squarespace templates on Etsy prior to watching that video however by the end of that video they knew exactly how and all it took was a willingness to watch an 18 minute video and so how much upfront work well I would say a little bit but not a lot I'm going to give this a 2.5 because it really depends on the type of product you're selling for example if you want to sell fonts or you want to sell presentation templates right that's obviously going to require a little bit of work up front for you to actually make those templates before you can actually sell them and then how difficult is it to earn 100 per month in passive income with this idea well I'm gonna give this a 1.5 out of 5 because honestly it's super easy Once you can actually get a good product listed on one of these websites like creative Market or Etsy and finally how difficult is it to maintain this passive income stream I'm going to give this uh also a one out of five like we keep on talking about with a lot of these ideas once the thing is built once you've got you know some momentum on that thing it'll be pretty easy to maintain that momentum as long as you continue to build new products and you know find ways to innovate and be competitive in the market but once these products are listed online then theoretically they're on the internet forever and they'll continue to sell indefinitely next up are online courses now technically this is a type of digital product but in my opinion it's worth talking about this passive income idea by itself selling online courses can be done in one of two ways the first way is by building up an audience on YouTube Tick Tock Instagram all these social media platforms building up an audience and then creating a course around what your audience might be interested in and then selling that course to your audience for those people who might be interested in the additional value if you don't have an online audience there's still websites like skill share and udemy that lets you sell your courses to an existing audience on those platforms these course websites get hundreds of millions of visits per month and so by creating your course and selling it on these sites you open yourself up to potentially getting millions of views on your course and thousands of potential sales so the first question how much upfront work is required I'm actually going to give this a 4 out of five because there's going to be a lot of work up front for you to actually create the courses on a specific topic but once it's created things get exponentially easier for example how difficult is it to consistently earn 100 per month in passive income by selling courses online well skillshare says that on average teachers can make between two hundred and three thousand dollars per month which is way beyond that 100 threshold and for that reason I'm gonna give making 100 consistently a one out of five and then finally if you want to maintain that passive income stream with this passive income Source once again in my opinion this is an easy one out of five because once that course is created there really is no additional work that you have to do now if you want to make more money then of course you would have to go and create new courses and things like that but if you were happy with just the minimum 100 per month in passive income then I think it's easy to do by selling just one course on one of these websites and honestly you'll probably be able to earn a lot more than just a hundred dollars per month and the last passive income idea is real estate and I'm specifically referring to physical real estate like you know rental properties airbnbs duplexes where you live on one side of the house and a tenant lives on the other side now of course there are other ways to earn passive income with real estate for example you could buy REITs or you could invest in real estate through crowdsourcing on sites like funrise but for this idea we're only talking about physical real estate because at the end of the day although it does require a lot more work than you know REITs and crowdsourcing sites physical real estate is going to pay you a lot more money and you have the benefit of owning an actual physical property which can appreciate in value so for starters how much upfront work is required for this passive income idea well it's definitely a five out of five for most people buying physical real estate is a very long and tedious process that involves multiple moving parts and then when it's time time to actually run out the property even if you have a property management company managing the property for you it's still going to be work however because of all the upfront work and all the upfront Capital that you would have to invest to you know get this thing off the ground earning 100 per month in passive income is going to be extremely easy a one out of five on the scale the average renter in the US pays a little bit over thirteen hundred dollars per month for rent now of course there will be costs like obviously you have to pay for the mortgage you know taxes Insurance those types of things but even after all those expenses most landlords are left with 100 or more in profit each month and then finally how hard is it to actually maintain this passive income stream well I would say it's going to be one out of five because all you have to do is just not sell the property and make sure that you're being competitive with your renting rate so that your property stays rented without any gaps and typically if you're working with a property management company they're gonna be the ones who are doing the research and trying to figure out what the most competitive rates are for the rent in your area aside from that though there's not much work that you have to do to maintain the property aside from the occasional Main maintenance and the occasional repairs but of course you can always Outsource that work as well and many times the property management companies will do that for you and you can just keep the process as passive as possible hey if you guys have not already dropped a like down below for the watchy I'll go or subscribe to the channel I really don't know what you're waiting for I would appreciate it if you did both those things all of you guys watching are incredible I appreciate every single one of you I mean that and I hope that you have a beautiful rest of your day or night and as always I will see you again very soon take care

Channel: Joshua Mayo

Views: 291,307

Keywords: passive income, passive income ideas, how to make money online, how to make passive income, passive income 2022, how to make passive income online, passive income ideas 2022, passive income streams, passive income online, make passive income, passive income ideas for beginners, passive income ideas with no money, lazy passive income, 2000 per day passive income, joshua mayo

Id: K61c_3cKNgc

Length: 23min 0sec (1380 seconds)

Published: Wed Oct 12 2022