Imagine earning an extra $50 to $100 daily! In this article, we dive into both passive and active ways to generate income, from dividend stocks and property investing to YouTube content creation and flipping items online. Start boosting your cash flow today!
Imagine making an extra $50 to $100 every single day…
It would feel pretty nice, especially because the cost of living is going through the roof, and there's no sign of it slowing down.
In this article, I'm going to share with you some passive as well as some active ways you can go and generate more income today.
If you guys are interested, keep reading…
I know the title is just about passive income, but I think what we need to address is not just passive income. I also want to share with you some active ways you can go out there today and make some real money.
I'm not just talking about: Hey, if you had $200,000, you could make this much.
I'm saying starting with absolutely nothing, to be honest, and I'll share the active ways later in this article.
Now, by far, my favourite way to earn passive income is through investing, and I'm going to share with you a couple of things that I look at and something you can start deep diving into and getting educated around.
I’ve mentioned before that I'm not someone who invests in shares or Exchange-Traded Fund (ETF), but everyone is different, and I think you should look at all of your options before you say “NO” to something.
Find things you like, find things you understand, and go for it.
With dividend stock investing, you're basically purchasing stocks in a company that allows you to earn an income, and that income is passively generated.
Therefore, if you go ahead and purchase stocks, that stock will pay you out monthly or quarterly, and that's the passive income that you can then either:
This means your portfolio grows. As your portfolio grows, so does the passive income.
Now, I'm not going to pretend like I'm some sort of expert at this because personally, I don't do it. I've read about it, I've watched some other YouTubers also talk about it, but personally, for my strategy, it doesn't fit in.
However, it might be something that you start looking into. Some people can make a lot of money, especially if you're in it long-term.
Now, this is my favourite—property investing.
If you've been following my blogs or my YouTube channel for a while, over the last eight or nine years, I've not only just been buying property for myself, but as part of the buyer's agency that I run.
We also help clients:
How this works is we've traditionally been taught that when you purchase a property, you take on debt, which everyone avoids, right? Because it's the worst thing ever.
So you take on debt, but because we're using the same strategies from 20 to 30 years ago, it's basically buying property that requires money from our pocket to go and hold this property.
If let's say for instance, our income is $20,000 a year, but the expenses to hold the property are $25,000 a year, that means every year I'm losing $5,000 in cash flow.
However, that’s the opposite of what we want to do.
What we focus on, and what I've been focusing on for my own portfolio, is I want to buy a property that if it rents for $20,000, I want to have expenses worth $15,000, and that allows me $5,000 in my pocket, which is about $100 a week.
Now, this may not sound like a lot, but this is in year one.
Imagine as rents keep going up, you're then in a position where you keep increasing your passive income from the one property.
In Australia, how it works is you can use the equity from one property to go ahead and purchase another one, and another one, and another one.
Now, I've got to give you the disclaimer: I am not a financial advisor, and I definitely don't look like one. What you've got to do is use these videos, as well as what you see online, to be the prompt for you to start looking in a particular direction. But you need to look at your pros and cons, you need to have a strategy, and you need to know what your risk appetite is.
If you're someone that purchased crypto or you're looking to purchase crypto and you're sort of like: Well, I don't want to buy it and it produces no income, well, yes, you can produce income, and you can produce rewards.
In this case, we're going to go through what Binance Earn provides here in Australia, and what we can see here is:
Now, I'm going to focus on the easiest part, which is “simple earn”, and it shows you already stable earnings, zero fees. You deposit and earn daily rewards, either for flexible terms or locked-in terms, with more than 200 tokens to choose from.
If you're new to Binance Australia, and you want to learn more about it, watch this video I uploaded on my YouTube channel, which is a step-by-step tutorial about how to register as well as get started with your first deposit on Binance Australia.
The fourth way I could earn passive income through my investing is actually investing it into the bank.
Now, the bank rates have actually increased for savings because we've seen interest rates increase in Australia, so you can earn between 3% and 4%.
Of course, this may not sound like a lot, but the truth is that it's still money that's growing, and so if you have $100,000, that means $4,000 extra every year could pay for a small holiday.
What you might look at doing is maybe diversifying across everything I've just mentioned and then building out a portfolio that gives you income from all sources.
I'm just showing you the options—it's up to you what you decide you want to do
Now, we've looked at the investing side of things, but we also want to look at what could be active today but become passive. This may take a lot more time to actually set up, but it is still very fruitful.
Having a YouTube channel allows you to earn income from Google AdSense.
If you saw an ad pop up before this video, that means that YouTube is getting paid from that customer to have their ad placed on their platform.
We then receive a small cut of what they're actually getting paid.
Now, if you are starting YouTube just purely for the money, it's probably not going to work out quite well because you put hours and hours into research, shooting, editing, and then uploading, hoping that it does well, and all of that work could result in below minimum wage, and all of that hard work could result in like two or three dollars.
You've really got to figure out if you're doing content creation for the right reasons.
Personally, spreading my knowledge, as well as bringing you guys value through my YouTube channel, makes me so happy that I am able to do this.
Every week when I hear from you guys, I actually get really happy as well.
You can look at actually building out an e-commerce store once, and then it sits there forever.
If you have a digital product, you can go and earn income as you move forward.
However, the thing is, you've got to build an audience, as well as have a pretty good store and a pretty good product in order for people to actually even come.
Therefore, this is something that again, takes a lot of work, and if you think you're going to do it and become an overnight success or you're going to have $100,000 in the next six months, that probably won't work out.
Again, I wish you all the best, but these things take time. So you've got to build this income stream if you're serious about it. But there's nothing that stops you from doing your 9-to-5, doing your work, and then building something like this on the side. It's very, very powerful.
I did say at the start of this article that if you stayed until the end, I was going to share some more active ways to do it, and you could start today with no money at all.
This is by far one of my favourite things to do, and I honestly think that if I wasn’t as busy running the buyer’s agency, I would be doing this every single day: Flipping.
Now, when I say flipping, I’m not talking about flipping houses because there’s a big cost to get started.
I’m talking about going through your house, looking at things you don’t actually use, and selling them on eBay.
Flipping like that online can actually result in some amazing outcomes.
I follow some people online who have gone from having only a thousand dollars to their name, spending it on buying stuff to flip, to running a business that profits more than six figures every year.
It's something you’ve got to enjoy and have an eye for. However, you don’t want to spread yourself too thin—focus on your niche and then go hard. Personally, I would love to be able to do this with trading cards, just knowing how it works, what goes in, what goes out, and whether I want to get them graded or keep them as sealed products. I could go on forever because I really do enjoy that stuff.
If you’re looking to get started, you could find two to three hundred dollars' worth of things—unless you’re a complete minimalist—that you could flip online and start today.
I hope you have learned so much from me in this article. I’ll catch you guys in the next one!
Thanks, everyone!
Disclaimer: Search Property Pty Ltd (SP) does not provide financial or investment advice and does not hold a financial services license as defined in the Corporations Act 2001 (Cth). Any advice given by SP is general in nature and does not take into account your personal circumstances or objectives, financial situation or needs.
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