9 Insane Passive Income Examples » (How to Do It RIGHT)
Do you want to see something crazy?
In this post I have gathered 9 different actual examples of insane passive income
So instead of looking through YouTube – I did it for you.
These are not just ideas on how to get passive income – but actual examples.
Passive Income Example #1: Website Investment
Now you might be thinking, how will investing in a website give me profit?
Well, it’s quite common actually! The basic concept of website investment is the means of acquiring a website solely for earning a secondary income.
In simpler terms, I get my own “digital property” and over time make tiny improvements that would upscale its net worth. I don’t even have to do anything. The website runs itself while I take care of the cash flow and make minor improvements.
How It’s Done
So, let me now tell you how you can earn a stable passive income by just investing on websites.
To start the journey, the first and most important thing you should establish is your specialty. You can’t just be a jack of all trades, this concept doesn’t work when it comes to earning through investment.
After you’ve settled that, you should work towards looking for niches that aren’t as common. This gives you a greater chance of earning profits.
Lastly, all you have to do is use pre-installed automation setups, check for any discrepancy and you’re good to go.
How To Do It Right
There are people actively earning from this niche and they praise its profitability and success rate. You don’t have to second guess before starting your passive stream.
This person here explains how he earned thousands just by buying and selling websites.
How The Journey Started
In the video, Mohit shares his journey with buying and selling websites. This was done to overcome the trampling effects of being in debt and he looked for a passive way to pay up his loans.
He initially started blogging but was unable to monetize them. So, he came across a website selling its business for only 6x, and though skeptical at first, he decided to take the leap of faith.
This proved majorly successful for him as he sold his first website in just 8 months for $12,000.
This was 5 times more than what he got it for.
Now 10 years into the niche, Mohit has had his fair share of ups and downs but one thing even he states is that the buying and selling of websites is something that can make you good money if done the right way.
Passive Income Example #2: Renting Parking Spots
Now this niche is a bit weird at first glance but once you go deep into the semantics of it all, it’s quite profitable and an easy source of income.
The idea of renting parking lots is commonly practiced in cities with acute traffic. The concept of renting out parking space is that you take a piece of land that you already own and hang out adverts on the parking space you’re offering.
There are two different ways you can do this, you can either own your own parking lot space or you can even manage someone else’s. This is entirely dependent on what you’re presented with; not everyone has spare land to allow for parking.
Here I’ll be talking about a YouTuber called ‘Gig Nation’ who has described in his video how he made a passive stream by renting out parking spaces.
How To Do It Right
In his video, he shares his previous space-sharing gig such as renting out his house’s room. When he began the idea to rent space for parking, he put the ad out on an app called “Neighbor.”
All he did was list up his garage on the app along with the preferred monthly rates. The app he used is beneficial as it brings people to you who are interested in your offer.
He then posted pictures and set his rate and viola! A perfect ad ready to grab attention.
Now after a few struggles and numerous missed opportunities, he finally managed to get in touch with a few willing parties and what I found shocking was the rate he was demanding from them.
The vlogger asked for $150 a month for parking spots. And this was just a starting price that he could increase with steady reviews.
Passive Income Example #3: Business Lending
In the simplest way possible, business lending is where you give a loan to some third party for the sole purpose of investing it in a business.
In this, more than half of the investors’ annual income is from business lending and more than half of their total expenditure is also incurred from this practice.
Sounds easy right? It is easy too.
There are not many complications to this and some might say it’s even similar to website investment — the initial concept may be similar but they have their differences. Regardless, many people have aced this field.
How To Do It Right
Mike Vestil, in his video, shares how he knows people who made $700 by starting a lending business. It seems like he’s bluffing but he goes through a step-by-step progression on how they made such a handsome amount.
In the video Vestil comments on treating a lending business the same as you would for any other business. This includes steps like planning your business prospects etc. This is so there are fewer chances of any loss involved if, perhaps, someone cannot pay back the money they took.
He mentions how he has acquaintances who are making $60,000 — $15.6M in yearly revenue. And this is all from the money they don’t directly own but instead are affiliated with mortgaging companies or companies that give out these loans in return for annual profit.
Passive Income Example #4 Record Audiobooks and Earn Through Royalties
So you’ve heard of the phenomena of audiobooks. These are voice-recorded books that you listen to rather than read. The books can either be exact copies of actual published books or they can be tweaked a bit here and there.
These audiobooks are also a really good source of earning money. All you have to do is an affiliate with a site such as Amazon or Kindle. Then you record the book accordingly and receive royalties in return. Easy peasy.
These royalties can be on a 50/50 basis with the copyright owner of the book and are often paid at a flat rate on a monthly basis.
How to Record Your Audiobook
The first step in recording your audiobook is to decide your niche. Whether you want to narrate finance, fantasy, or even romance books, it’s all up to you.
Once you’ve done that, you choose a platform, Amazon or the works and then you record your first book and watch as the cash flows in. Well, maybe not right at that moment, royalties are usually paid monthly.
How To Do It Right
Scott Brick is an American actor, writer, and award-winning narrator who’s been in the audiobook industry probably since its inception, with over 800 audiobooks published under his name.
Brick started his audiobook narrating career in 1999 and even back then, he managed to do well for himself in the industry by recording over 250 titles in just 5 years.
By just recording audiobooks and narration, he has made around an average of $32,000 per month — Which is a lot.
Even if you take in his technical experience, that kind of money isn’t something you’d expect to make from just audiobooks.
Passive Income Example #5: Selling Fishing Rigs Using Etsy
It sounds pretty quirky I know but hear me out. Every quirky niche is someone who’s making good money off it so why limit your choices based on what’s common and what isn’t.
What are fishing rigs you ask? Well, they’re an assortment of everything a fisherman would possibly need in his fishing trip. This includes lines, hooks, swivels, lures, and beads. All of these are compiled as a fishing rig.
These sorts of equipment are more commonly accessible through Etsy. The reason for this is that the site specializes in craft equipment and similar other items.
How to Do It Right
Side Grind talks about how he made $1000 just by buying and reselling fishing lures and other equipment.
In his video, he explains how he bought multiple fishing equipment along with other items and put them up for sale at different prices, all giving him the maximum profit he could obtain.
He explains the process of buying and then negotiating with potential buyers to find a price that fits him most. At the end of his sales, he explains how he had an extra $63 in profit from all the items he sold.
Passive Income Example #6: Grow And Sell Coral
Yes, you read that right. Ever wondered where people get all these corals from? Surely not everyone would dive into the depths of the ocean to get them. So someone out there must supply all these corals. The only question is how?
Growing Coral is pretty easy. It’s something you can do in the comfort of your house and it’d feel just like raising a fish. All you have to do is take a large tank, detach the corals from the rocks and let them grow in their new home.
You have to be wary of the temperature and PH of the water or else they’ll die in a jiffy.
How to Do It Right
Bahama Llama coral explains in his video how he managed to grow and sell corals.
He goes through the process of trading corals at the local bidding.
He explains his process of preparation for selling the corals, too. Once these corals have grown they’re brought to the fishers bidding where they’re sold off to the highest bidder. In This particular scenario, each fish was priced at $10-$50.
Passive Income Example #7: Glamping
Glamping is sort of like the elite version of regular camping. The tents are not tents but small wooden huts and they are fully equipped with all necessities.
Glamping could be considered a getaway from the modern world while still retaining the aspects we like about it (electricity, beds, etc). It’s got the same overall vibe as regular camping; just more refined.
How to Do It Right
A couple was featured in a podcast by the YouTube channel Keep It Tiny. In this, they explained how they started their glamping endeavor, the ups, and downs while still upholding their primary jobs.
In their video, they go into vast detail about the kind of residents that are likely to rent out spaces and how to accommodate them all. They go on to mention the one hardest part about owning these sites as well as detaching yourself from the ownership aspect you’ve.
Being in the business for 4-5 months now, the couple still claims to navigate through the trenches of glamping and though their journey only just began, they do comment on the niche’s profitability.
Passive Income Example #8: Microgreens Business
Microgreens are small edible plant seedlings that are often used to garnish food and are exceptionally popular in the food circle.
These greens can be easily grown in small rooms and if done right, can earn you a good amount.
How to Do It Right
Youtuber John Kohler documents a farmer he met in Las Vegas owning a microgreens farm. In the video, Kohler shows the farmer’s bedroom renovated with everything these small shrubs need.
Now what’s crazy about this is that the overall cost of growing these greens including soil and the works is around $3-$4 while the cost he sells them at is $40. This is almost 10 times more than his initial cost.
Another fun thing about this is that you can even sell it on a subscription basis which he does and earns annual revenue of around $1200.
Passive Income Example #9: Create NFTs For Anything Under the Sun
NFTs also known as non-fungible tokens are virtual assets that are bought through blockchain and become personal virtual purchases. These are called fungible as they can be traded one for the other.
It’s basically virtual ownership of art wherein you get a contract confirming your authority over the piece.
To make money off of NFTs you’d have to register in the blockchain, which is the same concept used in crypto, draw your item and upload it for sale. It’s as easy as that and recently many artists have turned to this new mode of income.
How to Do It Right
Jordan Welch takes us with him on his NFT buying/selling journey. Here he explains how he decided to give the rapt market a go and see how well he could make off of it.
In this, Welch purchases an NFT with hopes of reselling it, earning a higher profit.
In total, he bought around 3 NFTs which eventually got sold for a profit of $953. While the other two made profits of $500.
So we’ve finally reached an end. These were 9 passive income streams all of which hold insanely impressive amounts of profit cashback.
Though they might seem unconventional, real-life case studies prove that people are making decent amounts of money off of these practices.
Looking at these niches I think, if you put your heart and mind into it, you can really make a good earning.
Starting a passive income stream isn’t easy, it requires tedious work and tremendous time management skills. But like all things, it isn’t impossible.
So don’t wait around for your boss to give you decent pay. Make one yourself.