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Passive Cash: Earn Money Without The Hassle

 

Does the idea of earning money without lifting a finger sound too good to be true? No, it’s not some kind of scam or anything illegal, and it’s perfectly possible and a great way to boost your income. The only snag is that you need money in the first place, but if you’re already successful and looking to turn a chunk of money into a lot more- here’s how you can go about it by earning passive income.

Property

Becoming a property landlord is a great way to earn passive income. Purchase a couple of flats or houses, and then hire an estate agent to manage them for you. They will deal with finding tenants, referencing, chasing up rent and everything else. After their cut, the money lands in your bank each month and you have to do nothing at all to get it. In most areas there’s a high demand for private accomodation so tenants are always waiting and prepared to pay a decent amount of rent. Check out property for sale in your local area and see where would be the best place for investment. If you buy close to a city or near a university the demand (and what you can charge) will be even higher.

Business

Investing in a company is another great way to earn passive income. You do need to be business minded here and know what to look out for in a potential company. But lots of bootstrapped startup companies are looking for investors, and for a cash injection you get a share in their business which could go on to be extremely profitable. Another option would be to establish a company yourself, and oversee if from the top. Hire the right people to run things and there’s very little you need to do, other than cash in on the profit of course.

Peer to Peer Lending

Peer to peer lending companies can be see an industrial-scale ‘financial matchmakers’. They work by matching borrowers or companies with lenders, and by cutting out the middleman (bank) can offer lower rates. Their customers  are all able to profit from this. Because borrowers are carefully selected and credit checked, the risk to you is reduced- plus the industry became regulated by the Financial Conduct Authority in April 2014. The peer to peer lending website does all of the chasing for you, so it’s hassle free and a good option if you’re willing to put money away for a longer term. It will gain you far more money than even a high interest savings account, so could be something to look into if you want to gain passive income.

As with any investment there are some risks involved, however if you go about things in the right way and make smart decisions, they are drastically minimised. It’s not like gambling or even investing in the stock market where it’s easy to lose it all. These offer great opportunities to boost your money in a safe way, and turn your pile of cash into a much bigger one!