Top 5 passive income ideas to start for free (Part3)

Coming up with passive income ideas can seem so fun and exciting because it allows you to buy back your time in some way.

Isn't it great to make money in your sleep? What if you could earn money while you watch TV or on vacation?

Sounds nice, but making passive income is not a walk in the park. Luckily, I will share with you 5 different passive income ideas to help you get there!

Most of us earn what is called "active income". This means you can go to work or work from home and trade your time for money.

There is nothing wrong with that and I fully support the work that you love and that gives you purpose.

If you no longer have to work in exchange for money, you will not only diversify your income but also free up additional time to do what you love.

Here are 5 passive income ideas you can try.

1. Peer-to-peer lending

Are you ready to lend money? Peer2Peer lending is a way to get a loan without going to a bank or financial institution. This offers individuals another option than taking out a loan directly from a bank.

Sites like Lending Club offer business loans up to $500,000 and personal loans up to $40,000.

Loans are usually issued for a period of 3 to 5 years, and the borrower's monthly payments include both principal and interest. With Lending Club you can become an investor with a minimum investment of just $1,000.

2. Create an online course

Creating an online course can be your ticket to passive income if you have something interesting and useful to teach others.

Teachable is one of the most popular platforms for creating and selling courses.

The decision to create a course can help transform your business. You have unique experience and knowledge that can help others, so you can sell it to improve people's lives.

When I started blogging, I became very interested in Pinterest and started using it to grow my blog.

Over time, other people wanted to know how to do this, so I created Pinterest Presence by becoming a Pinterest VA Today! Both courses have helped thousands of people grow their blogs and make money as Pinterest virtual assistants.

While selling courses isn't entirely passive income, it does help you get to the point where you're no longer exchanging so much time for money.

You set the price of the course and wait for the money to start coming in. The best way to promote a course is through social media and your email list and work from there.

This free seminar will help you learn how to create your own course.

3. Social Media Influencer

Do you have social media followers? Becoming an influencer can be a wise choice.

Companies will pay you to help advertise their products. Pick a niche you're comfortable in and start posting.

While you don't have to be a big influencer, the more you interact with your audience, the better.

Don't overload yourself with social media and just stick with 1-to 2 platforms you want to grow.

Be yourself and focus on how to add value to people's lives and share helpful tips and tricks.

You can find sponsors on social media by following several influencer networks.

4. Advertising from your car

Did you know that you can use your car for advertising to companies?

Carvertise offers to put a company ad on your car and pay you a ride. You simply fill out an application and then you are matched by advertisers who like your driver profile.

They need drivers who drive in the area they are trying to target. Drivers must have a clean driving record, drive at least 30 miles per day, own a 2008 or newer vehicle, and have a factory paint job.

Standard payments range from $100 to $200 per month. Instead of driving around with a wrapped car, drivers can also be chosen to park their cars at specific locations and earn $30 an hour just by sitting in one spot.

5. Buy a profitable site

Instead of starting a blog from scratch, you can buy one that is already doing well.

Then you can take what they do with the blog and build on it. Flippa is one of the best places to buy affordable and famous blogs.

If you don't have time to create new blog content, you can hire writers to help keep the new content flowing.

You may not need to change anything at all. The blog may be ok, it's just that the previous owner just didn't have time to follow it.