In this article, I’m going to share 12 passive income opportunities. We have set up numerous passive income sources over the years that pay me thousands of dollars per month, and I want to share some of those with you in today’s article. Some of them I have set up myself, and others are ideas that I think really have a lot of potential in 2024.
Now before we talk about these 12 different opportunities i first want to help everyone understand that passive income is kind of like this buzzword that everyone throws around a lot but you have to understand that in order to get passive income it requires something upfront you’re either putting your time upfront you’re working a lot upfront and you can reap the rewards of that work later on down the road or you are putting money upfront and that money makes you more money which ends up being what we call passive income okay it is difficult to obtain passive income but it is very possible i have checks that come in the mail every month that are thousands of dollars it is very possible so lets go ahead.
Renting out a driveway or land for parking
Start with the first one here which i think has a lot of potential and this one really truly is passive income which is renting out space in your driveway or if you have any land renting it out for parking if you have a parking lot if you have a spot where someone could park their car do you know that you can make up to 100 sometimes even 150 or 200 per month to let people park in your driveway i know that ive done this as a consumer when i was at penn state in college i was paying 100 per month to this guy to park in his driveway because i didnt know where else to park my car right i couldnt leave it on the street and this guy probably had 20 or 30 kids paying him 100 each per month so he was making 2 to 3000 per month by literally doing nothing just letting people park in his driveway its pretty crazy.
But i think this is a great opportunity because i know there are a lot of homeowners out there looking for some extra cash a great way to do this is something like spot hero they are not sponsoring this article i have just used them as a consumer and so I’m pretty sure you can list a part of your driveway on spot hero you know people have RVS or something that they need to park somewhere you can rent that out to them so that’s one i think is a really cool opportunity obviously if you are in like an hoa or something it could be difficult and you might not be allowed to do that so read into all of your local zoning laws and everything but i think there’s really great potential there to at least pay your Wi-Fi and pay your water bill and some other things by just letting people park in your driveway.
Building Niche Affiliate Marketing Websites
The second opportunity for passive income this is one that i call mailbox money because it pays me every quarter i get a check in the mail from this and this is building an affiliate marketing website in a very specific niche so we have one that is in the farming niche im not going to share the exact one because it still makes us quite a bit of money but we have a farming affiliate blog like literally an agriculture affiliate blog that we create content on we have about you know probably 200 different blog articles about the farming industry on there and that pays me you know i get usually a few thousand per quarter so every three months i check my mail and i get a few thousand this comes from my business partner who runs this and he creates the articles he does all of this so for me its truly passive affiliate marketing websites weve had so many of these in the past and theyve made some pretty good money it does take time to build up so if you did want to build an affiliate marketing website you could use something like bluehost to build this and this is a basic wordpress host.
I kind of view it as an investment for building a website, so if you just create a website using Bluehost and you know you spend 12 months on it and you put out 30 to 40 to 50 articles, theres a chance that you could end up making some passive income. I can’t guarantee it because you know a lot of people will do this and fail, and it won’t work, and maybe they’re not good at writing articles or they didn’t realize they could just use ChatGPT to write articles for them. I know that it works because ive done it myself weve built quite a few affiliate marketing blogs basically the whole goal of this is to rank on google for specific search terms so when someone searches for best investing apps if your website is at the top there and youre working with the investing app companies theyre paying you to write about them you can make a lot of money i have friends who have sold their affiliate marketing blogs for tens of millions actually one guy who i only met briefly sold his website called the penny holder for 102 million and it was just a website it was a blog which is pretty insane so there is a lot of money to be made in this specific space and it really is passive every day.
when i wake up more people find our website and you know end up buying things through our website so blue-host just go build your site like just do it today i think its a great opportunity you can probably build your website in like two hours after this video and stop waiting okay seriously because people just kind of think about this for years and never act on it and that’s something that i did myself and it really ended up like shooting myself in the foot because its like five years later i am like why am i still waiting to build a site and launch something okay so just do that after this sign up for blue-host its you know like 5 6 7 a month i don’t know what the price is going to be but i do have a link to it down below in the description that you can check out and well leave any discount codes down there below as well if we have any okay so that’s one that i think has a ton of opportunity
Investing in Dividend Stocks
The next one that i think has a lot of potential for making passive income this one is actually putting money upfront and then reaping the rewards of that and so this is something as simple as investing into dividend stocks on a platform like moomoo if you invest into dividend stocks basically whenever you invest into companies certain companies will pay you like basically kind of as like a thank you or like a some of the profits basically from the company theyll pay you cash for owning that stock and so you know i own jp morgan stock for every share of jp morgan i think i get a dollar per quarter every three months for owning jp morgan right and so you know i only get 4 per year but thats per share of jp morgan i dont want to confuse you here if you dont understand the stock market i do have a full dividend investing tutorial.
But basically i get free money from the stock market that pays me every three months from these companies and if you own you know 10000 shares of JP-Morgan and its paying you 4 per year per share that’s 40000 per year that your’e making from JP-Morgan just paying you literally cash into your investing account so you can do this through something like moomoo they actually have some pretty cool offers right now i don’t know how many free stocks they’re giving away but if you use the link in the description below you will get a certain amount of free stocks when you fund your account you put money into your account and you can start buying stocks and they’ll give you some free ones its a pretty cool deal i don’t know how many other brokerages really offer a deal like this I’ve been using moomoo for many years i trust them myself so you can go ahead check them out if you want to get some free stocks and just get started and like you know making passive income you might only make a couple of dollars per year in passive income if you only you know put 100 in there but its still better than nothing and i think its a pretty cool interesting opportunity just Remember, of course, that you can always lose money in the stock market, so nothing here is guaranteed. Do all of your investing at your own risk, and make sure that you are making your own decisions rather than listening to some random guy on the internet.
Running email newsletters
The next passive income source, I think, is a great one because this is one that we set up sometime in early 2023, running email newsletters on something like Beehive. beehive was a company that launched a couple of years ago and basically its pretty similar to substack but on this what you can do is you can build email newsletters we built one like i said in february of 2023 and its gained tens of thousands of readers on this newsletter its all about tech and so what we do is we advertise on this newsletter we set this up we promoted it actually through youtube and through twitter mostly through twitter this tech newsletter its for anyone whos interested in ai or you know what is happening in tech what are some new things right and everyone gets this on a weekly basis it comes out every friday this newsletter does and we include sponsors in that and so we pay someone to write this newsletter for us we give them you know like 100 or 200 in that range per newsletter he writes it for us its fully automated and then we include sponsors in the newsletter.
So, we make money from really not doing much just kind of promoting the newsletter and growing the newsletter and in fact you know people can actually make a lot of money from newsletters look at something like morning brew which i believe they sold to business insider for about 75 million and morning brew was a newsletter it still is a newsletter they have other things as well now they’ve grown quite a bit over the years but it started off as a newsletter and they ended up making tens of millions of dollars when they sold that newsletter but in the process you know like our newsletter our AI newsletter it makes us money every month. You can have up to 2500 email newsletter subscribers, and it doesn’t cost you anything to run it on this platform. When you’re below 2500, you know there are some expenses if you want to really scale it up, but at that point, you probably won’t even mind paying 50 or 100 per month because you’ll be doing so well with the newsletter, so try building one of those. It could just be something fun, like every week you write something interesting, and then eventually, once you have enough readers, you can just monetize it and make some nice cash on the side. I think that’s a great passive income opportunity.
Creating courses on Udemy
There so the next option here is to create courses on Udemy so if your’e skilled in a specific area lets say that your’e really good at understanding Microsoft excel turns out there are a lot of people who need help with excel and so you can make courses on Udemy they are not sponsoring this article i have just used them in the past as a consumer you can make like a full course on how to use excel post that on Udemy and they will because its kind of like a marketplace they will kind of promote it a little bit and try to get you some initial customers and you know i have friends who have used Udemy where they’ll make a course and it will be relevant for two or three years and they’ll make six figures from that course over the span of its life so yes this is one of those things with passive income where you have to put up some work upfront it might spend a full month every weekend building a course on Udemy but then once its made its made and you know you can reap the benefits of that for many many years to come so Udemy is a really cool one.
