So you want to create some side income, or just want to start creating a steady income, but can’t really get your head around this online making money thing. Good news, I compiled a list of ideas for you to try to make some passive income offline.
As we all know, there is no such thing as a free lunch. As with any passive incomes there is a matter of investing, be it time, or money or both. These also depend on your financial possibilities. But set these up the right way, and you are on your way to true offline passive income.
Here is my favorite Offline Passive Income Ideas for the Real World:
1. Rent Out a Room
If you live by yourself, why not set up a room, that can be rented out for a fee to somebody that doesn’t quite need the space of a full flat, or just can’t afford a full flat. Students are always looking for cheap accommodation, and If you live in an area where there are universities you are in for a winner.
If you are renting a room out, consider renting it out as an “all-inclusive” as this will attract more interest and will also mean that your room will be rented out for a longer period as the price is fixed.
Renting out a room “all-inclusive” means that in the price of the rent they also get the electricity they use, water, WiFi, etc. So make sure to make your calculations correctly for summer as well as for winter and take the average sum out of it.
The door to the room should be lockable and access to the bathroom and cooking facilities should be quite within easy reach.
Also make sure to have a nice contract in which you identify a set out all the rules regarding payment, visitors, noise levels and all the other things you can think of in such a way that later on you will not find yourself regretting not having included a clause in the contract.
2. Rent out your Parking Space
if you live in a busy area, or near office buildings or factories, renting out your a parking space to the people working there might be a nice easy income, and other than advertising the fact that you are renting it out, you don’t really have any work to do.
3. Sweets Vending Machines
As life gets more and more busy, we are always looking for a quick answer. This is also the case when it comes to wanting a snack or are thirsty. Depending on the type of vending machine you buy, the initial investment will vary.
Lets say you start small with a gumball machine. You can buy a used one online (ebay or amazon) for less than $100 dollars. Once you receive it, you can clean it up and see how it works. Then have a look at the price of the candy you will be putting inside.
Depending on what your gumball vending machine will be selling, the price will be accordingly. For example if you are buying your candy for $0.20 a piece, you want to at least double the amount that you sell it for. So let’s say you will be selling your candy for 50 cents, this will only earn £10 dollars a week.
So withing a couple of months you can buy another gumball machine, and so on. The secret is to just reinvest in the begging and not use the profit for anything other than refilling the machine.
It usually takes a few minutes to refill a gumball machine, and if its close to where you live, then it means you only spend a few minutes a week to refill the machine.
Once you scaled this up, you can move into the cans and snacks vending machines. That’s where the real money is.
A can and snacks vending machine usually makes between $30-$100 profit per week depending on the location.
These can be picked up on ebay for a few hundred dollars, the only downside to cans and crisps vending machines is the size and weight of them. So moving them might require the help of a couple of friends and maybe a dolly, and once your machine is sited, that machine will be there probably for a few years, and all you have to do is to refill it and collect the money.
Finding locations for your vending machines depends on how you seize opportunity and how much walking and asking you are willing to do. So if you want your Vending Machine Business to become a great earner, you will have to do a bit of legwork.
4. Condoms and Personal Hygiene Vending
We have all seen in the motorway stops and in pubs restrooms those little vending machines on the walls. These can sell anything from Condoms to Feminine Hygiene products and are quite used as a lot of people are a bit shy of buying condoms at the till of a supermarket or if a woman needs a personal hygiene product in a hurry, there are always close by.
These types of machines usually cost a couple of hundred dollars (for a used machine) and are quite small and easy to set up, not requiring more than one person to install.
The basically need just secured on the wall in a convenient location and the machine does the rest of the work.
Every week, make sure you don’t forget to fill it back up and collect the cash.
Finding locations for these machines is easier than finding locations for big vending machines as they are not big and are usually installed in the toilets.
A bit of legwork might be required to secure your locations, but once you have them in place, they will make you money for years to come.
5. Rental Property
Now this requires quite a fair chunk of investment on not everybody can afford to buy a flat or a house and then rent it out.
But if you are among st the lucky ones to be able to invest in property, you will deffinetly reap the benefits of these for the rest of your life.
I always recommend you start small and work your way “up the ladder”. This means that if you start with a one bedroom flat in an average to good location, and then reinvest the profit into the next one, you will soon have a portfolio that most people will envy.
I always recommend you have a look online or look at auction houses for your first investment, but remember that any auction house will charge a commission on top of the sale price and you will also have to pay lawyers and fees when buying a property, so due diligence is always a must.
If you have a relative of a friend already involved in property, ask them for advice or maybe a bit of help. I’m sure that any advice they will give will be worth its weight in gold.
Keep in mind that they were where you are years ago, and have learned a lot of lessons by making mistakes and also they might know the property market better than you. So listen good when they offer advice.
6. Boat or Caravan Rental
If you live in an area that is close to the sea or a big lake, you might want to invest in buying a boat and mooring it in a marina. Depending on the budget you have, the bigger the better, the more money you can charge to rent it out.
Before you even buy a boat, you might want to take a short drive to your local marina and ask what the Mooring charges are and what are the other fees you need to pay to have a boat moored there. You will find that your local marina will also be the best place to ask if they might know anybody selling a boat in your price range.
Most marina owners will be more than happy to help you buy a boat, as this means they will get the mooring money from you, so just tell them what you are looking to do and ask for advice, like pricing, what type of service you should offer, etc.
In the summer, you will make a small fortune if you advertise correctly. This means that you might want to run a add in the local newspaper or on the generic Facebook Group in your area.
Obviously the details regarding owning a boat are more complicated and will require a bit more research on your behalf, but I say it’s totally worth it, as the boat still remains your property, and when you want a day out with the family, you just don’t rent it out and use it for yourself.
If you are not lucky enough to live near a lake or the sea, why not try to purchase a caravan or a motor home? This can be just as fun and the revenue can pile up quite fast.
Maintenance will be required in any case, and improvements are always a plus, but if this is something you are passionate about why not look into it? Why don’t start the research now, and start earning a seasonal passive income.
7 Advertising Space On Your Car
if you use your car quite regularly, why not try to see which company can offer you money or services in exchange for advertising space on your car.
For example, one of my friends advertises his local garage on the side of his vehicle and in exchange he does not have to pay for any maintenance on his own car. So other than fuel and insurance, he has no expense in relation to his vehicle.
Now you are going to say “Flo, this isn’t passive income!” and you are wrong. If he pays $2000 maintenance and repairs on his car every year from his hard-working job, this money actually are plain and simple gone. Whilst if he has a sticker on his tailgate saying “Tony’s Garage -The Best and Most reliable Garage in Town!”, those $2000 can be considered income and not expenses, and its passive.
As you can see, there are many ways in which passive income can be generated. The main idea is to look for opportunities wherever you are. Any offline passive income idea will require investment to be put in practice, but you can always start small and keep reinvesting the profits until you get to a comfortable level where all profits can be spent on fun things or invested in other passive income ideas.
If you have any other offline passive income ideas, why not share them with me and I will make sure to include them in the updated version of the post.