Top 5 passive income ideas to start for free (Part4)

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. Create an application

There are so many applications, but there is always room for more. It has become one of the lucrative passive income ideas for entrepreneurs.

Building an app yourself is the cheapest route, but if you don't want to do the work, you can always pay a freelancer or mobile app development agency to build it for you.

To avoid these additional fees, you can learn app development on your own and build your own.

Spending on Google Play and the Apple Store reached $39.7 million in the first half of 2019 alone, according to Sensor Tower.

One way to make money from an app is to create a game app that offers in-app purchases.

Another way to make money from a mobile application is to charge for subscription services. Some sort of monthly subscription fee is not uncommon for apps.

Keep in mind that both Google Play and the Apple Store account for 30% of all in-app and in-app purchases.

2. Invest in real estate

Investing in real estate often requires a lot of money to get started. However, keep in mind that you don't need to become a landlord or get another mortgage to invest in real estate.

Platforms like Roofstock give you the opportunity to find investment properties.

You can use the site to view properties and find out what the total investment is to determine your earning potential. Once you invest in real estate, it becomes yours.

Some properties already have tenants. Roofstock can provide payment history, a copy of the current lease, and tenant details.

Fundraise is also a good option for real estate crowdfunding opportunities, and you can get started with a minimum investment of just $500.

3. Invest with a robot advisor

Another great way to create a passive income stream is to build a diversified portfolio by investing in stocks and bonds.

There are advisor bots like Betterment and Motif Investing to help you manage your account and invest your deposits.

Simply link your bank account to make your monthly contributions and these advisory bots will do the rest.

4. Cashback Sites

I love shopping online. It's so convenient and almost effortless if you're short on time or prefer not to run to the store.

I love that when I shop, cashback sites like Rakuten give me back some of that money. Not only do I get what I buy, but I get back the money that can be spent on something else.

Rakuten always offers great cashback deals and even offers a free $10 welcome bonus just for signing up. Just install the browser extension on your computer and every time you visit your favorite store, you will be notified when cashback is available.

5. Selling stock photos

Are you good at taking pictures? There are websites where you can share your stock photos. You will be paid every time someone uses your photo.

It's not something you'll get rich off of, but definitely worth a try.

The more platforms you use, the more likely photos are to be selected, which means more money in your pocket.