Income Techniques by Melvyn Mangion
Everyone can earn passive income. Melvyn Mangion argues that one does not need to find time to generate a passive income. One can just invest his or her money or time and then sit back, relax and reap the profits from the investment. The best part is that one can keep the day job, one can continue to do the work one wants to do.
Revenue is a beauty, we all want to create additional revenue source yet we are time-bound, we have only 24 hours a day to work on. Passive income machinery works even while you sleep in the night. That’s why passive income is much loved.
Dividend is an income
Melvyn Mangion suggests that investing in dividend-paying stocks (or mutual funds) is a great way to generate revenue. If you buy quality stocks, the dividend is almost guaranteed. The rate of dividend quite often outrank the interest rate you earn on deposits. Also, the stock price gain is yours to keep when you sell the stock.
Real Estate can lead to income
Real estate investing is a very common way to make money. I have many friends who invested in rental or commercial real estate. There is no limit to your revenue as you basically use other people’s money to earn passive income. Your bank lends you money to buy a rental property. You pay them off with the rent you get. The surplus amount after home tax and insurance is your passive income.
Initially, it requires a lot of effort in buying a property that can easily be rented out and as many times as needed. After that initial effort, the income from it becomes really passive. You get automated rent check and you pay out automated mortgage payments.
A true passive online money flow would be through a website which you create. You upload content once and then it can continue to earn money for you from the advertisements you put up.
Writing a book might also raise you passive income. Easier said than done, I admit. If you love writing then you need to put effort for a few months to create a book and market it to publishers. Then, once you’re published, you pretty much don’t do anything else than counting the royalty payment.
Many personal finance bloggers have written eBooks and published them through Amazon. They earn $1 to $10 for each book sale, depending on the price of the book.
To generate passive income through apps, one should possess a quality very few does. You should have an innovative idea for an app. One needs to know the coding part or need to know someone who will develop the app for you. Then it’s all about marketing.