Passive Income: How To Make $100 Per Day In 2024

Lets discuss the holy grail of money, investing, and personal finance: How to make passive income. More specifically, some ideas that have the potential to generate $100 per day OR MORE in 2024. Enjoy! Instagram: GPStephan -- SHOW MORE 👇🏼

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Now when it comes to making passive income, there are only two categories this falls under:

The first is the passive income you generate by investing your TIME

The second is the passive income you generate by investing your MONEY

So lets begin with the first one: Investing your time, since this is something we all have. Creating passive income like this means you invest your time upfront to create an income source that then pays you in the future, regardless on how many MORE hours you to spend on it.

First: Affiliate marketing. This is when you promote another service or item, and you get PAID a percentage if someone buys it through you…and the easiest one to set up is to join the Amazon Affiliate Program.

Second: YouTube Ad Revenue.

For example, I could spend 9 hours creating a video, post it, and that video continues to generate revenue for months or years to come, regardless of what else I do. The best way to do this, IN MY OPINION, Is to make how-to videos that people will search for long term. Like “How to invest in an index fund,” “How to invest in the stock market,” “how to make money online for beginners,” etc. This is the best way to get your videos a consistent amount of views, long term, and then get a backlog of these videos that rank on the search results.

Third: : Creating a how-to program. For example, I have that YouTube Creator Academy program (link above) that I created to teach people various strategies on how to grow on YouTube. Now I also spent about half a year creating my program “The Real Estate Agent Academy” which teaches real estate agents how they can grow and make money in the business.

Fourth: Renting out an unused room on AirBnb, ARBO, HomeAway, etc. or rent out an unused storage space.

Now another way to make passive income investing your TIME is by renting one of your unused rooms on AirBnb, VRBO, homeaway, or any one of these sites - or even just renting out one of your unused rooms on a short term lease. You could EVEN go even further than this and rent out your garage as a storage space! If you’re living in a place right now with an unused bedroom and don’t mind sharing your space with a room mate - this could be an INCREDIBLE way to start generating some passive income by using what you already have. Same if you have extra storage - someone likely would use it!

INVESTING YOUR MONEY FOR PASSIVE INCOME:

First: Investing in Dividend Stocks.

These are just stocks that have a payout every 3 months, and for most stocks, that payout ranges from about 1-8% annually. Your goal could be to get a mix of stock price growth - meaning it goes up in price over time and through that - you make money - while at the same time, they’re giving you a dividend payout every quarter. Just make sure to hold dividend stocks in a tax advantaged account, otherwise they’re taxed as ordinary income…and that’s bad…I’ll make a video on this shortly!

Second: Investing in growth stocks.

These are stocks that DONT pay a dividend, but because they DONT pay a dividend to their investors, they have more cashflow to invest back into the business, and that should increase the stock price even further. If you chose just to follow the average of the market with an index fund, you should expect to see - ON AVERAGE - around a 6-8% return per year.

Third: REAL ESTATE

The reason I like this is because there are SO MANY WAYS to make passive income with this one.

First, you can go the traditional route and buy a property to then rent out.

Second, you can move into a multi-family property and live for free!

Third, you can rent out your unused bedrooms!

Fourth, you’re paying down the mortgage, and

Fifth, the property will hopefully go up in value long term.

And yes, this IS something that requires upfront work and capital to set up - but if you have the 10-20% down payment to buy a property, and you have the interest and time to learn about real estate, this could be a phenomenal long term investment.

For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com

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