14 Residual Income Ideas

help 300x282 14 Residual Income Ideas

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What is the best type of income? The kind that you do not have to go to work for everyday in order to receive. We are talking about residual income and below are 14 different residual income business opportunities to help you get started earning some passive income while you are still working the 9 to 5 or working 80 to 100 hours per week at your brick and mortar business.

Email, info@stevenroddy.com for customized ideas on how to make money based on your situation.

1. Create a Blog Site

By creating valuable content around your field of passion you will generate traffic to your website. When you chose to display Google Adwords on your site, and promote the products of others you could get paid for talking about what you love. I have friends right now making several hundred dollars a day by doing this and working in their pajamas. (If you could call that work.)

2. Parking Lot

Parking lots are big business. In New York a parking space downtown can cost you $250,000! There are people who buy and sell parking spaces like a real estate investor flips property. But, if you own the lot then you can pay one person $15 per hour to collect $15 per car to park for an event. Not to mention the appreciating land value.

3. Purchase a Franchise

A franchise is a turnkey operation that has through the process of trial and error created a successful system. The only thing you have to do is come up with the money, follow the system and then collect the profits.

4. Real-Estate

Purchase a home and rent out the property or buy low, fix up and sell high. The most famous entrepreneur in this market would be Robert Kiyosaki, the author of “Rich Dad, Poor Dad.” A friend of mine just got done with Robert Kiyosaki’s coaching course and has purchased her first rental home in Georgia at $50,000 below market value!

5. Stock Market

Right now the stock market is down but that is the time to buy. The best advice that I ever heard concerning stocks and real estate is that when America is talking stocks buy real estate. And when Americans are talking about real estate then buy stocks. Why? Because you should be selling when people are buying and buying when people are selling. That way you will get the best deals.

6. Laundry Mat

Though this is not a sexy financial vehicle there are many individuals out there making good money off the dirty clothes business. If you don’t have the means to purchase an entire laundry mat then you can do what I do and rent out individual units to households. There is a lot less overhead and the money is guaranteed.

7. ATM Machines

Have you ever had to withdraw some money at a gas station and had the privilege of paying $2.00 to do so? Welcome to the ATM business. That is how they make their money and that is how you can make yours.

8. Vending Machines

I met a woman a couple of months ago who lived at a country club here in Georgia and we got onto the topic of businesses and it turns out that she owned a vending machine company. All throughout the city of Atlanta she had vending machines placed in various companies and all she did was go into Sam’s Club purchase the candy, refill the machines and collect the coins.

9. Write a Book

We all have unique experiences and talents that are special but the only problem is we view those gifts as common. My biggest obstacle in writing this book was overcoming the belief that everyone had the knowledge that you are reading right now. You have unique talents, you can write, and you have a computer therefore you have everything you need. Once the book is done you will get paid over and over for your initial efforts.

10. Factoring

Factoring is the art of buying loans and lottery ticket payouts from other people who are cash hungry. Car dealerships that have the signs that say, “Buy here, pay here,” are a perfect example of how you could get into the factoring business. These car dealerships finance the deals for customers who cannot pay in cash but the only problem is if they do this enough and do not manage their money correctly then they have too much capital going out and not enough money coming in. So all you do is offer to pay them $1,500 cash on a $2,000 loan and instead of the customer paying the company, their car payment will now be sent to your mailbox. You will make the difference plus the interest on the loan.

11. Produce a CD

Whether you can sing or give sage advice on a topic you could produce a CD or MP3 to sell. If you don’t have music and cannot afford the price of musicians then lease a beat, then save up for your studio time.

12. Movie Machines

I was so mad that I did not think of this invention, the $1 movie rental boxes that are in Wal-Mart, Kroger and a variety of other stores. Those machines are a great idea and who is going to go to Blockbuster and pay  $5 for a movie when they could purchase the same movie for $1 without a membership card? In addition to the $1, if the customers are late in returning the movie, which I am guilty of, the machine just keeps on charging the card $1.

13. Coin Exchange Machines

There are coin machines that turn your coins into cash after it takes a 9% commission. That 9% commission could be yours every time someone drops their coins in the bucket. And you don’t have to deal with any employees or punch a time clock.

14. Storage Units

We have all had to move at one point or another and may have even had to downsize. When you downsize you don’t want to just automatically give away all of your stuff. So where do you put it? Storage units will continue to be profitable and one employee can manage the whole complex. Meanwhile you are earning $50 to $200 per month per unit. Those numbers could be higher or lower depending on their location.

Do you have a question on how to incorporate a residual income stream into your current business? Or do you have a question on how to start a new income stream? Fill out the form below and I’ll connect you with one of my partners. Collectively, we’ve helped over 10,000 people develop passive income streams using the methods above and many others not mentioned.

Email, info@stevenroddy.com for customized ideas on how to make money based on your situation.

15 Responses to 14 Residual Income Ideas

  1. Eric says:

    Great ideas! You can also earn residual income through multilevel marketing. There are only a million and a half companies out there to get involved with however, the entry is very inexpensive.

  2. Stephanie says:

    I think right now real estate is the best option. Rates are at an all time low, and though lending is difficult you can still find banks willing or owners willing to do owner financing options.

  3. Pingback: Get Started in the ATM Business | Success Strategies For Successful People ~ Steven Roddy

  4. zynga chips says:

    lol several of the responses bloggers enter are such stoner remarks, routinely i think about if they honestly read the articles or reviews and threads before leaving your 2 cents or if perhaps they simply look at the titles and prepare only the first thought that drifts into their heads. nonetheless, it is really pleasing to look over smart commentary once in a while rather than the same exact, traditional blog vomit that i continually see on the internet i’m going to take up a smattering of hands of facebook poker regards

  5. Steven says:

    Thank you for your indepth and insightful comment…

  6. MyPreception says:

    I am 28, a single mom with 2small kids and no family. I was married 8 years when my husband left us. I am in nursing school. I will have my RN in April. I have always struggled because of hard times in just now getting an education. I was happy to read this cause I dont want to be a slave to working all my life for limited income. Thanks for posting the ideas. But where do i start since i have bad credit and very little income.

  7. Steven says:

    First thing I suggest is to never chase the money. Chase passion and the money will follow you. Its weird but true. Once you identify your passion, visit a book store to research the topic in order to find out different methods that you can profit from your passion. Then after you have come up with knowledgeable questions to ask find the most successful person that you can contact who is doing what you want to do and then ask him the questions you have come up with.

    Then follow the advice that they give. Life can be a B*%@ but if you persevere you will find a way to win…I promise

  8. amanda says:

    Good ideas:) How much do you charge to rent out the washer and dryer units? Not that I have a passion to deliver and set up but it would be nice to provide and option to someone which allows more convenience in their life I suppose:)

  9. Steven says:

    It would depend on your area…but one of the things that you could do is call a rent-to-own see how much they are charging and then charge accordingly.

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  11. Ann says:

    It is funny that I came across this today. For sometime now I have been toying with the idea of making money with something I love..math and computers. Reading this reaffirms some thoughts I have had and gives me a guide to start looking at. I think a little more research and I may have the confidence to start. Thanks!

  12. matt says:

    One thing you could of mentioned would be to become a musician. If your a musicians you can pretty much make money in the same sense that an author can. Sure a book takes a long time to write but once you write it you can sell it over and over again. Same thing goes with recording an album. Plus musicians can also sell there music on itunes and stuff like that for more residual income.

  13. matt says:

    IM STUPID YOU DID SAY PRODUCING A CD I DIDN’T REALIZE I GUESS I OVERLOOKED THAT ONE

  14. Steven,
    Great points here and I like your mention of real estate. I have read a few of Robert Kiyosaki’s books and he is just ok. I think he is a bit too general an does not offer a lot of practical advice. I think Robert Allen is much better at telling it like it is. his book “multiple streams of income” is my bible for anything investing related. You should check him out also. I use most of his strategies to create passive income.

  15. José says:

    I’ve been looking for someone, a mentor to teach how to trade in the stock market. Is someone out there willing to teach me?