15 Best Residual Income Ideas 

5 Best Residual Income Ideas

Do you want to build up residual income? These residual income ideas are perfect if you need quick cash or want to earn extra money in the long term. With the current state of the world, many people are looking for additional income opportunities.

What is Residual Income?

Residual income means that you continue to make money after you’ve done the initial work. You have invested time, money, or both. Over time, you start to make money without having to do any active work for it.

1. Peer-to-Peer Lending

Are you the person who always wants to be the bank when doing Monopoly? Now you’ve got the opportunity to be a real bank. With peer-to-peer (P2P) lending, you can loan your money to people, your peers. They will pay you back with interest.

2. Invest in Real Estate

Purchasing rental properties and investing in real estate is a classic way of creating residual income. Real estate investing is great because you get a steady stream of side income with many potential upsides.

3. Invest in REITs

If you’re not up for buying a property, it is possible to invest in real estate through Real Estate Investment Trusts (REITs). REITs are companies that invest in real estate, and you can get a share of their rental income. They are 100% passive and give you consistent residual income over the underlying property.

4. Invest in the Stock Market

When we talk about investing, many think it simply isn’t for them. Investing seems too complicated or only for rich people. Luckily, it’s easier than ever to get started with investing. There are dozens of companies that can help you to start investing.

5. Make an App

If you have some high-income skills like programming or coding, creating an app is a great way to make residual income. You could create a gaming app or a to-do list app, when you don’t have programming or coding skills, but have a great idea, try a platform like Upwork to outsource the app development.

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