Many individuals will do a lot for the money. Money drives many decisions, ambitions, and life choices. Some people will work their entire lives for money. Money is the one resource that most people are very scared to lose.
We disagree with that wholeheartedly.
We believe that money is a very abundant resource. We have seen this through personal experiences. We have had money that we donated come back to us in some way or another. We have invested and been able to 2x and 3x the dollar. We have been able to raise millions of dollars and produce returns for our investors. Time, however, is always fleeting. Time is nonrenewable and there is no way to double or triple the time you have on Earth.
Therefore, passive income is so important to us. Passive income allows us and other individuals to hedge against this running clock on our lives. Passive income allows you to make the most out of life and enjoy every second of it. These are our 7 proven passive income streams to take advantage of in 2022
- Passive Multifamily Syndications – This may seem biased, it is. The difference between investing into a syndication and a stock, are the tax incentives. Syndications allow you to fully take advantage of all the tax benefits we wrote about in our last blog. Essentially this is how high net worth individuals legally avoid taxes.
- Affiliate Links – You can make passive income through affiliate programs. All that is required of you is to promote services one time and get paid every month individuals use the service through your link.
- Monetize social media – YouTube/TikTok is a great way to earn passively, through posting and gaining a following. Not only do you earn from the platform themselves, but you may be approached by companies to promote products for them. We have also seen the same thing work through starting a podcast.
- Airbnb Arbitration- You can rent out an extra room on Airbnb or VRBO. If you don’t have an extra room, you can sign a lease in a desirable location and rent the unit out as a short-term rental, with the landlords’ permission of course.
- Buy an Airbnb rental – If you have the capital to invest into an investment property, this can be very powerful and produce cashflow for you every month.
- Small Multifamily – Many people think you need a lot of money to get started in multifamily investing. This simply is not true. If a property is 2-4 units, you can take advantage of an FHA loan. This means you only must put 3.5% down in order to buy the property. The only requirement is that you live in one of the units for a year before moving out and renting them all. This can produce a nice stream of cashflow.
- Stock Investing – I include this one because I know many people make money in the stock market, we have never loved the volatility and emotion involved, but this can produce income passively for you.