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Tim’s List of Passive Income Streams

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#1 Buy & Grow Profitable Online Businesses

The idea is to find and buy existing (and profitable) websites on Flippa.com (or similar sites) & grow them.

In May 2015, I bought a 4-year old blog on Flippa.com with some AdSense revenue and redesigned it and relaunched it. You can check out the before and after. Still a work-in-progress.

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#2 Re-Sell Hot Products on Amazon.com

With this idea, you research products that are selling well on Amazon, source them from manufacturers and resell at a profit.

I started working on this stream towards the end of June 2015, and it’s currently the biggest source of my passive income.

Lucky for you, I have created a detailed 12-part series documenting how I did it. Click on link or image below to check it out now.

get-started-selling-on-amazon-guide-30-streams-passive-income-tim-maina

I intentionally named it “Get Started Selling on Amazon: The Complete Step-by-step Guide.”

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#3 Create & Launch Niche Websites & Sell Ad Space

This is a great way to build email lists of extremely targeted customers that can later be leveraged for more earnings.

I started Home Remedies Well in May 2015. It is heavily content-driven so still a work-in-progress and will probably take a while to complete but but my goal is to create the largest home remedies platform on the web. If you’re a good health topics writer, get in touch with me, maybe we can work out a deal.

home-remedies-well-screenshot

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#4 Create a Blog & Sell Ad Space, Sponsorship etc

This one is a no-brainer, making money with your blog is a very rewarding undertaking. Depending on your niche and experience, the possibilities are endless.

That’s exactly what this blog is. I initially launched it back in 2013 as a way to building my personal brand, but now it’s part of my 30 streams before 30 challenge.

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#5 Launch a Niche Dating Site & Charge Membership Fees

Dating sites require a lot upfront work but once the initial user base is established, it’s smooth sailing.

Update: I started this niche dating site back in 2009 when I was still new to online stuff. Today, when you search for “SDA Singles” or “Adventist Singles” both my sites are on the first page of Google, it feels good!

With close to 900, 1,000, 2,000, 3,000 members, I just started charging for memberships. Check it out: Meet SDA Singles.

adventist-singles-dating-website-screenshot

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#6 Launch & Sell a Niche Magazine via Issuu, MagPile, Blurb, MagCloud)

With this idea, you pick a topic (and make sure you focus on one topic) then put the content together into a nice magazine and sell it for a profit.

In April, we completed a 6 month long project by launching Elevating Vegas a magazine for Las Vegas locals making a difference. You can check out the digital version of the first issue.

magazine-tims-30-streams-of-passive-income

 

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#7 Get Involved with Affiliate Marketing (Clickbank, Amazon Partner, CJ)

Earning commission promoting other people’s products is a classic must-have passive income stream. With the right audience, this can be a very successful venture.

I’m currently working on becoming an affiliate for at least 100 products and/or services that I use and find beneficial.

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#8 Offer Virtual Consulting Services

There’s gotta be something you must be really good at, think hard and you will find that there is. Take that skill, advertise it and offer advice for a fee. Not entirely passive but close.

I offer consulting services for brand related challenges and later down the line, I plan on offering services to anyone who might be interested in setting up their own multiple passive income streams.

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#9 Sell Digital and/or Creative Services to Businesses

Services like SEO, Social Media Management, Photography, Videography, Web Design etc. are all services that can be outsourced making them lucrative passive income streams.

Since 2011, I have been offering digital services for individuals, small & mid-sized businesses through my branding agency STANCE (formely maina+studios).

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#10 Charge for Professional Advice on Clarity

The idea here is to take and charge for calls from people that need advice in a field/topic you are knowledgeable in.
Clarity account screenshot

I have had my account set up for a while now but haven’t really used it much. I hope to leverage it in the coming months. But as of today 8/19/2015, I am not generating any revenue from this stream.

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#11 Freelance on Elance, Guru, Freelancer, Amazon Mechanical Turk or Upwork.

This is not entirely passive but can be automated or outsourced turning it into a passive income stream.

I launched my branding agency in 2011 this way, it was a great way to quickly make some money and get my foot in the door. At this time, this is a dormant part of my income streams but I hope to either replace or find a better way to automate it.

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#12 Rent Out a Room in your Apartment/House

Saving money is the equivalent of making money and renting out a room in your apt or house will enable you to save money or at times even make money.

I have been renting out rooms in my house and saving on mortgage payments. This is cool because not only do I get to save money but I also get to have hang out with cool people and not be home alone and miserable!

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#13 Flip Websites on Flippa.com

The idea here is to source PLR websites, give them a “facelift” and resell them for a profit on Flippa.com.

Scheduled to start in September November 2015 but you can read about it here.

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#14 Launch a Drop-shipping Business

With dropshipping, you just need a website with traffic. You get paid first and the seller ships the item to your buyers.

I’m yet to start on this one! I (finally) started this one last month (Oct 2015), check out Alex & Pike.

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#15 Create & Sell Digital Files on Etsy

You can sell more than handmade crafts on Etsy. The idea is to figure out what digital files are on demand and offer them for a profit.

I’m yet to start on this one!

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#16 Launch a YouTube Channel & Monetize It

According to MarketingCharts.com the growth in the number of regular online video viewers across those 40 markets is expected to be in the 5.1-5.8% range annually from 2015 through 2017.

I’m hoping to launch a tutorial series or a vlog of various travel destinations I go to once I start travelling in 2017.

I’m yet to start on this one!

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#17 Private Label Products & Sell on Amazon via FBA

This income stream idea takes #3 a step further and let’s you set yourself apart from the competition by launching your own brand.

I’m currently actively working on this and will be able to share more about how I’ve gone about making it happen.

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#18 Create Ebooks and Sell on Amazon.com

This is one of the simplest ways of earning passive income. You don’t have to be a writer, just hire someone else to do it.

I’m in the process of making this happen and will post updates once completed.

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#19 Self-Publish a Book & Sell via Amazon’s CreateSpace

Amazon’s CreateSpace let’s you self-publish physical books. Similar to #18 above you can hire someone to write the content.

I have already helped a client who is a respectable author self-publish, so I understand the entire process. You can check out the book here.

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#20 Create E-Course & Sell on Udemy.com

You can share your knowledge on a topic you are passionate about then charge a fee to sell it on Udemy- even for just $5/seat will get you a nice passive income stream.

My good friend Sheila of Push Factor has successfully done this. Her course currently has over 4,300 students and solid 5/5 star ratings!

I’m trying to nudge her to share her knowledge with all of us so we can implement this. You can check out her Udemy course here.

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#21 Create Software & Sell through Affiliate Platforms

When done right, this is great way to earn passive income fast. These communities have a lot of active members.

I dabbled in the Internet Marketing scene for a bit in 2013 and saw friends making $50,000+ with one software launch. As long as your software/tool is solving a problem and has good affiliate backing, you’ll make money.

Just make sure it’s not an overly hyped product and you’ll be fine!

I’m yet to get started on this one.

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#22 Build A Niche Site Focused On Physical Products & Earn Commission by Hooking Up With Amazon Products

This idea is a great way to earn money from sales of physical products without dealing with any inventory. It’s similar to dropshipping but the only difference is that the Fulfillment is done via Amazon.com.

I’m yet to get started on this one.

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#23 Create & Sell Creative Work (e.g. Stock Photos, Music, Video Clips etc)

This is a great way of turning a hobby into a handsome passive income stream. The affordability of professional digital cameras today makes this a great option.

I’m yet to get started on this one.

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#24 Create a Membership Site and Charge a Monthly Fee

If you can create valuable content, there will almost always be people willing to pay for it. Collect a monthly fee.

Eventually, my plan is to turn sections of this blog into a membership area where I’ll offer exclusive information for members willing to pay- nothing is really free right? 🙂

I’m yet to get started on this one.

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#25 Create & Sell T-shirts via Teespring.com

With this platform, you just need to have an idea. Create your designs and each time you make a sale Teespring ships the item to your buyers then split the profits.

The main advantage of going with a company like Teespring.com is that you don’t have to stock any physical product making it a great passive income stream! Your job is to come up with great designs (hint: you can outsource this if you can’t design yourself).

I’m yet to fully get going with this one.

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#26 Create & Sell an App via App Store or PlayStore

Your apps can generate you passive income through ads, in-app purchases or paid app downloads.

I already have multiple app ideas, my main challenge is which one to start with.

I’m planning on kicking this off in the 2nd quarter of 2016.

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#27 Repackage Your Content Into A Structured Product

This is closely related to #8, #10 & #11 but takes a slightly different approach. Think of it as recycling/repurposing.

Once I have enough useful content on this blog, I’ll repackage it into an eBook or a course to sell on Udemy.com.

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#28 Get Involved with Peer-To-Peer Lending

Fund other peers and earn a return from your investment. Lending Tree is a great platform that let’s you do just this.

I’ve put this on hold for now and dedicated my resources on other streams making more money.

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#29 Own & Rent out an Apartment/Condo/House

This requires a significant upfront investment since you first need to acquire the property but a great source of passive income.

In 2 years or so when I have enough money put away, I plan on buying another house and renting the current one I live in.

So this is going to be on hold for a little while.

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#30 Own an Automated Car Wash

This requires a huge upfront investment as well (between $40-$50k according to Alibaba.com just for the automated wash system) but depending on your location, this could be a great passive income stream.

Think of all the free car washes you’d get for your car too being the boss and all 🙂

I plan on owning one of this in 5 years or so. I’ll do more research on it though but at this point it’s just a cool idea for someone who has the means.