REALISTIC WAYS TO MAKE MONEY WHILE YOU SLEEP

When people talk about making money while you sleep, they’re talking about passive income. It’s money you are earning while you aren’t actively working for it. You have to set it in motion, but once it’s going, it can continue moving with minimal effort.

For most people, your job, right now, is not earning you passive income. You are trading time for money.
When you only work like that, you end up capping your earning potential because time infinite. There are only so many hours in a day, days in a week, weeks in a month, and so on…

You have to put forth one of those things before you see any gains, and don’t trust anyone who is trying to sell you a magic pill. They don’t exist. You have to work to get paid, but with the right work, you can earn money while you sleep.



1. INVESTMENT

I’m starting with this one because it’s probably the most obvious source of passive income. Investing takes money to get started, and you can do it through a traditional brokerage, like Fidelity or Charles Schwab. But if you feel like you don’t have much money to get started. There is now a wealth of micro investing apps that eliminate that barrier.

Micro investing produces micro results, but it’s one way new investors can start earning small amounts of passive income. To boost that income, you’ll have to start making larger investments.

2. RENT OUT A ROOM IN YOUR HOUSE

Perhaps this isn’t the most glamorous way to make money while you sleep, but it’s a good first step if you feel like you don’t have a ton of time or money to invest in other ideas.

Airbnb is one of the best options for renting a room (or your entire house) to out of town visitors. Living in big cities or tourist destinations open you up to a higher earning potential. Besides passive income, this can be a nice way to offset the cost of your mortgage payments.



3. START A BLOG AND EARN AFFILIATE INCOME

Big bloggers, like the ones with six-figure income reports, make blogging look super easy. They write, post photos, share stuff on social media, and live dreamy lifestyles on boats or while backpacking through Europe. These people are real, and they’ve put a lot of work getting to where they are now.

Not all bloggers are going to get to that point, like the vast majority aren’t going to reach a six-figure a month paycheck. Part of that is because they quit right before things pick up, and the other part is because, well… not everyone can make that much money from a blog. Just like not all coffee shops will turn into massive corporations like Starbucks.

But, the average blogger, who puts time and energy into growing their blog, can earn passive income from this it.

Bloggers can do this in a few different ways, but affiliate marketing is what most people think of first.

WHAT IS AFFILIATE MARKETING?

This is one of several different blog monetization methods that bloggers use to earn income. It’s when you place a special link in your blog posts for a certain product or company, and when one of your readers clicks on that link and makes a purchase, you earn a little money, or affiliate income.

Weeks, months, and even years after you publish those posts, people can still click on those links and drive your income. That’s the make money while you sleep part of it.

Before you can start earning with affiliate marketing, you will need to make a major time and energy investment in your blog. You will have to grow your audience and page views to a certain point before you can use affiliate networks. There’s not one number to shoot for; a lot of this depends on your blog.



4. CREATE A PRODUCT TO SELL

If you have a blog, creating your own product is another really great way to earn money while you sleep. The initial investment is the time it takes to create and market the product. You also have to build trust with your audience so they know they’re going to get their money’s worth.

Bloggers can sell all sorts of things through their blogs, like:

  • Printables
  • Swag
  • Ebooks
  • Courses (read more about this in the next point)

5. CREATE AN ONLINE COURSE

Selling online courses is a way to share valuable knowledge with others. Your course should be something you’re an expert on, and it should be something that you know people will benefit from.

That’s why Mike Yanda and Bobby Hoyt, founders of Laptop Empires, created the Facebook Side Hustle course. Those two are basically Facebook ads gurus, have earned decent money running them, and realized a course would show others how to start this profitable side hustle.

When you create a course, the investment is definitely effort, but course sales are a lucrative way to engage your audience and offer them some genuine, real-world help.



6. REAL ESTATE

Investing money in real estate is likely always going to be a serious source of passive income. That’s because, like time, land is finite. People always need places to live, brick and mortars need a place to set up shop, and so on.

Here are three ways to make money while you sleep with real estate:

Rental properties. This can increase your monthly cash flow with rental income. This can be residential or commercial.

Fix and flips. Here you are purchasing properties that are in need of work, then fixing them up and selling them at a higher price.

REITs. That stands for Real Estate Investment Trust. It’s investing in commercial real estate for average people (non-millionaires). Fundrise is a great platform to check out.

7. DROP SHIPPING

By 2021, it’s expected that 2.14 billion people will be shopping online, and that will be the highest number ever.

That’s why starting your own e-commerce store with a platform like Shopify can help you earn passive income. The way drop shipping works is:

·         Start with building a website (you can do this through Shopify).
·         Add products to your website that come from certain manufacturers.
·         When a person purchases that product, it ships from the manufacturer, not you.
·         You pay for the products, but earn more than the sales price.

Drop shipping is unique in that you don’t have to source and store inventory. You just build and manage the site. Once your site is built and marketed properly, you can start selling products and earning money while you sleep.



8. START A YOUTUBE CHANNEL

Like bloggers, not all YouTubers are going to get rich. That’s just the reality. But, YouTube is a fun way to tell stories, create DIYs, offer tutorials, and more.

You earn money on YouTube with:

Ad revenue. Links on your videos bring viewers to products and services they can purchase.

Sponsorships. Not entirely passive, but you can get paid to promote products and companies you believe in.

Creating your own products. This could be swag, courses you sell through your website, etc.

9. SELL ON AMAZON FBA

FBA stands for Fulfillment by Amazon. It’s a service from Amazon that lets individual sellers find products they’d like to sell, have them delivered to Amazon, then letting Amazon take care of the selling and shipping of the product to customers.

You can sell all sorts of things through Amazon FBA, like:

  • Books
  • Retail arbitrage
  • Wholesale items
  • DVDs
I have a relative who recently quit their day job as a licensed CPA after making over thousand dollars in their first year of selling used books through Amazon FBA. This was by working just a few hours a week sourcing books (Amazon has a tool to make it easy to find ones to sell). When you consider that Amazon handles selling, shipping, payments, and customer service, you can see how it’s pretty passive.

10. BUY AN EXISTING WEBSITE

From what you read earlier about starting a blog, you can tell that it takes a lot of work and time. It can take months before your site starts earning you a profit. Some people expedite this process by purchasing existing websites, which can run $thousand+.

You can find existing blogs and websites for sale on Flippawhich gives you information like:

  • Name and link to the site
  • Age of site
  • Type of website
  • Monthly net profit
Just like any monetary investment, you’ll really need to research each site before proceeding.



11. DESIGN AND SELL CUSTOM MERCHANDISE

For creative people looking for an outlet that allows them to earn passive income, you can design images to sell on shirts, posters, coffee mugs, hats, phone cases, and more. Once you do the design work, the following websites can create and sell the products for you:



12. SELL AN APP

For those of you with coding skills, creating and selling an app is another option to make money while you sleep. You invest with your skills and the time it takes to create the app, but once you’ve made it, you earn passive income when the app sells.

Even sales of mobile apps listed for a buck or two add up over time.

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