![]() Hire an app development consulting company.Partner up with someone who’s a programmer.If you’re completely new to developing apps (like me), there are a couple of different options you can pursue to build your first app. There’s more good news when it comes to developing your own apps: A savvy technique that has worked in the past is using old apps, making them better, and then selling the improved app for money. What’s cool about becoming an app developer is that you can create an app for just about anything. …Then stop what you’re doing and check out the Roofstock □ Have a chunk of cash ready for a home down payment.Don’t want to vet, interview, and sign-up tenants.You also have to ask yourself: How much work are you willing to put into becoming a landlord? If you’re an introvert (like me), it gets pretty hard to ask tenants for rent.If your tenants have an issue, then you’re responsible to fix it.Tenant communication could be somewhat difficult.It takes a lot of time to screen your tenants.It’s a hassle to work with unwilling tenants.I loved the thought of earning passive income while having my tenant help pay off my mortgage – it sounded like the best of both worlds – but there are some precautions you want to take before you jump head-first into becoming a landlord. Personally speaking, I’m a huge believer in index funds – specifically in the S&P 500 index fund.īecoming a landlord and earning money on the side is one of the best – and arguably most popular – passive income ideas.Īnd, believe it or not, I’ve dabbled in being a landlord, too. There are many different types of investment vehicles you can use, including: You make money through capital appreciation (aka a stock you bought for $100 a few years ago is now worth $1,000 today) only when you sell your stocks and/or bonds. In all reality, your interest and dividends are true passive income types. ![]()
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