14 Legit Sources of Passive Income – Make Money Daily, No Cold Calling

If you’re looking to make money on the side, there are a number of different things you could do to create a passive stream of income. Furthermore, you don’t need to become a cold caller in order to make money on a daily basis.

So, let’s explore ten legit sources of passive income that you will want to consider.

1. Invest in Stocks

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Investing in stocks is an excellent way of creating a passive income.

It’s a good idea to start with small investments in blue-chip companies, as they’re likely to give steady dividends over time to provide you with recurring income.

2. Consider Crowdfunding Real Estate Investments

Real estate investment has always been a robust method for generating passive income.

However, traditional methods require immense capital. That’s where crowdfunding platforms come into play – partnering with others can allow you entry into the market of real estate investments.

3. Rent Out a Room in Your House

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The first method you could consider for a passive income is simply renting out a spare room in your house. You simply need to clean and furnish the room. Then, list it on Airbnb or other similar platforms. Remember to price your room reasonably to attract guests. To ensure that you set an optimal price that reflects the value of your space and the local market conditions, use the free Airbnb pricing calculator on Rabbu.

This tool can guide you in making an informed pricing decision based on relevant data, maximizing your earning potential and enhancing the appeal of your room to potential guests. By taking into account factors such as seasonality, amenities, and nearby competition, the calculator provides an accurate and dynamic pricing strategy tailored to your property. Embracing this technology not only simplifies the pricing process but also instills confidence that you are positioning your room effectively in the marketplace

Remember to price your room reasonably to attract guests.

4. Create an Online Course

If there’s a subject that you’re an expert in and passionate about teaching others, consider creating an online course.

That could be anything from cooking and coding to gardening and languages.

Once the hard work of creating and uploading the course is done, every sale thereafter represents a nice stream of passive income.

5. Use Rewards Credit Cards

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A less conventional method for creating a passive income is to use rewards credit cards. For example, with a SoFi credit card, you can get unlimited 2% cash-back rewards, which can soon add up to provide you with extra money.

Furthermore, SoFi credit card fees don’t include an annual fee to pay, so you can save cash while creating a stream of income.

Use rewards credit cards alongside other methods for generating a passive income and you could soon have a steady stream of money coming in.

6. Consider Peer-to-Peer Lending

You could consider peer-to-peer lending platforms where you lend money to individuals or small businesses in return for interest.

This method often offers a higher yield compared to traditional banking and it doesn’t usually require much effort after setting up.

7. Sell Products Online

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Online retail spaces such as Etsy or eBay offer unprecedented avenues through which you can make some passive income by selling unique products.

If you’ve got a knack for crafting homemade items or sourcing vintage goods for resale, for instance, starting an eCommerce store could be a fantastic way of generating passive income on a daily basis.

8. Get Involved with Affiliate Marketing

This is another digital method that’s growing in popularity as a source of passive income.

If you have a well-established blog, YouTube channel, or social media following, affiliate marketing could be an ideal way of generating passive income for you.

As an affiliate marketer, you simply recommend products by using affiliate links and then earn a commission for every sale that you make through your link.

9. Rent Your Car

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If you’ve got a car that spends most of its time sitting in your driveway, why not turn it into a passive income stream?

There are several companies out there that allow you to list your car for rent when it’s not being used.

This is an easy way to make money without adding any additional work to your plate.

Just be sure to check insurance and maintenance costs before venturing into this option.

10. Start a Blog

To start a blog and generate passive income, you need to focus on a specific topic.

It should be something you’re passionate about. And make sure you research and plan your content thoroughly for consistency.

Establish a strong online presence by making use of social media and SEO optimization techniques. This will attract advertisers who are willing to pay for potential exposure to their goods or services on your site.

Keep in mind that building a successful blog takes patience and commitment, so stay dedicated if you decide to choose this option as a way of generating a legit passive income.

11. High-Yield Savings Accounts

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High-yield savings accounts are a popular and relatively low-risk way to generate passive income. These accounts offer higher interest rates compared to traditional savings accounts, allowing your money to grow over time. By depositing funds into a high-yield savings account, you can earn interest without actively managing or investing in riskier assets. This source of passive income is particularly appealing for individuals who prioritize capital preservation and prefer a more hands-off approach.

12. Royalties from Intellectual Property

Earning royalties from intellectual property can be a lucrative form of passive income. If you have created original works such as books, music, patents, or trademarks, you can license or sell the rights to these creations. Whenever your intellectual property is used or accessed by others, you receive a royalty payment. This can provide a continuous stream of passive income, especially if your creations gain popularity or are in high demand.

13. Index Funds

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Investing in index funds is a popular strategy for passive income generation. Index funds are mutual funds or exchange-traded funds (ETFs) that aim to replicate the performance of a specific market index, such as the S&P 500. By investing in a diversified index fund, you can passively participate in the broader market’s growth and earn returns over the long term. With index funds, you benefit from professional fund management and the ability to capture the overall market’s performance without needing to actively select individual stocks.

14. Investing in REITs

Real Estate Investment Trusts (REITs) provide an opportunity to invest in income-generating real estate properties without the need for direct ownership. By purchasing shares of REITs, you become a partial owner of a professionally managed portfolio of properties, such as commercial buildings, apartments, or healthcare facilities. REITs generate rental income, which is then distributed to shareholders in the form of dividends. This allows you to benefit from the real estate market’s potential for appreciation and rental income, all while enjoying the ease of liquidity and professional management that comes with investing in publicly traded securities.