How to Make Over $6500 Per Month Passively

Can you imagine a life in which you did not have to work every day? Instead of needing to work, I could work because I wanted or I could choose not to work because I wanted to. How? By building a passive income.

Conventional wisdom tells you that the path you are supposed to live looks like this:

Going to college
Get a good job
Get marry

Get a loan for school, your wedding, a car, furniture, a house.
He works hard for more than 30 years to pay all the accumulated debt
Maybe you have enough to retire and then again, maybe not
The truth is that there is another way to live. You do not have to go the traditional route. After all, you are the one who controls your life. You can do whatever you want.

How to Make Over $6500 Per Month Passively

How to Make Over $6500 Per Month Passively

How to Make Over $6500 Per Month Passively

Is not that a liberating thought? To know that you are in the driver’s seat of your own life? For me it is.

One thing I’ve been thinking about a lot, and that I’ve started working on, is to create passive income so that my limited time is not constantly exchanged for money. And because I’ve always been fascinated by passive income, lately I’ve been deepening it and not only learning more, but taking action.

I think most people could live happily with $6500 per year (as long as they did not have debts), so I thought it would be a good idea for you and me to explore some ways to make money $6500 per month without working.

Note: this article is not a confusing idea of ​​never working and simply making money. This article focuses on possible investment strategies that could generate a residual income of $6500.

First, let’s see how all this works.

It has 10 rental properties that generate $ 420 per month each
Ten property rentals that gave you a net income of $ 420 per month after calculating vacancies, maintenance, repairs, property management, taxes and insurance would bring you $ 50,400 per year.

Depending on the location and type of property you have, you can take more or less properties to reach $ 50,000 per year.

If the rental properties are something that you would like to enter, I suggest you start learning now. Real estate is something that has always interested me and, according to my research, it seems that everyone has different objectives and different criteria to choose their investments.

That means you will have to create your own path and consider your risk tolerance to achieve your particular goals.

How to become a real estate investor

Your parents and grandparents think that to invest in real estate, you need to collect the money and buy something on your own, right?

They are so wrong. In 2012, Congress passed the WORK Law that allowed companies to market private investments to the public for the first time. This resulted in a bright new industry called real estate crowdfunding.

What real estate financing companies do is allow investors like you and me to pool our funds and buy multimillion-dollar commercial properties or $ 300,000 single-family homes, no matter what we agree. The returns on these investments are distributed according to how much each investor contributed.

There is no shortage of real estate collective financing platforms, so I recommend doing your due diligence and read my full reviews of the most popular. However, if you are looking for a quick recommendation, check out these guys:

1. Increase in funds: these guys only require $ 500 to start. Open an account here.

2. Roofstock: take online shopping to a whole new level. You can buy single-family homes with positive cash flow online! This is an excellent way to start owning your own rental property. Check it here.

3. EquityMultiple – Invest in larger residential and commercial properties. This is only for accredited investors, but it has a great variety of properties. Open an account here.

Accumulate $ 1,250,000 in dividend shares with a yield of 4%
This particular method seems, at first glance, a bit harder to achieve than the rental property scenario, but stay with me, please. The thing is that this method is actually very similar. With the dividend shares you are still buying an asset that provides you with cash flow.

Dividend shares are excellent because while these shares pay dividends, they can also appreciate (or depreciate) their value. This means that you can still take advantage of compound interest in the value of the shares. In addition, you can reinvest your dividends until you reach the desired amount.

Make Money From Home

The good thing about dividend stocks is that when the time comes that you need the dividend checks to live, you do not have to touch the underlying assets. In other words, you do not have to sell your shares to get money. The value you have in stocks still has the possibility to increase and grow without you adding anything else!

How to Make Over $6500 Per Month Passively And since you can take advantage of compound interest and you can reinvest your dividends while increasing your savings, you are not really contributing that $ 1.25 million.

Ready to start investing?

Take a look at these main places where you can invest for free, or here we present some of the best bonus offers to start:

1. M1 Finance – Really free investments! This is our favorite platform to invest in dividend-paying stocks because you can create your entire dividend portfolio, and it’s free! Open an account in M1 Finance here.

2. TD Ameritrade: This is a classic brokerage company, but they offer you up to $ 600 and free operations if you open an account. Your IRA accounts have no minimums, and have funds with no fees to start. Take a look at TD Ameritrade here.

Invest in a business

I do not want to sound here during the 4-hour work week, but outsourcing a business is possible.

My dad owns three businesses: 2 department stores and a greenhouse. He works in one of these companies. The other two are subcontracted. Different members of the family manage the other two places and there are also managers for different departments and, of course, employees.

There is simply no way that he can run the three companies by himself and, frankly, he just does not want to do it.

I have tried to copy this method into my own online business and so far I have headed in the right direction. For example, there are a couple of parts in my business. First there is freelance. Freelance work is very active and requires my direct participation. I can not pass this on to other people.

How to Make Over $6500 Per Month Passively

The other side is blogging. My own blog generates around $ 2,500- $ 6,500 per month and I usually spend around 5-7 hours a week on it. I used to spend a lot more time until I started outsourcing. I hired social networks and hired a writer to help me with the workload. My expenses rarely exceed $ 500 per month.

If you are curious about starting a blog, read this guide. I used Bluehost to start with a website because it’s very cheap: a free domain name and $ 2.95 per month to host it. I love Internet companies because of these extremely low overhead and huge revenue potential. Our Bluehost offer is specific to our site, so if you want to start a website, be sure to get our Bluehost hosting offer for $ 2.95.

This means that I am now accumulating around $ 2,000- $ 2,500 per month from a blog that I enjoy running and I only spend 20-28 hours per month on it. That puts me around $ 75- $ 100 per hour. While it is not completely passive, it goes in the right direction and surely surpasses my previous job that paid $ 11.50 per hour.

It is completely possible for you to build a business in any area that you enjoy and then outsource once you install the systems. This does not happen without a lot of hard initial work. It is about the anticipated distribution.

You need time or money to start

Either you need time or money to start building these sources of income. It will require hard work and sacrifice in advance, but in the end it will be worth it. How to Make Over $6500 Per Month Passively?

These methods do not get rich quickly and are not scams. There are people who do this kind of thing every day. If you take responsibility for your life and work hard, I promise, you can also make something like this happen!

  • How to Make Over $6500 Per Month Passively.