15 Passive Income Ideas That Earn As Much As $10,000/Month In 2024

Shane Hummus

Shane Hummus

17 min, 30 sec

A detailed exploration of 15 passive income ideas that could potentially earn up to $10,000 a month in 2024.

Summary

  • Explains a variety of passive income streams, ranging from selling templates to investing in startups.
  • Includes potential earnings, examples of success stories, and opportunity scores for each idea.
  • Highlights the potential rewards and challenges associated with each income stream.
  • Emphasizes the importance of upfront work and potential for scalability in creating passive income.

Chapter 1

Selling Templates

0:28 - 1 min, 15 sec

Selling various types of templates as a passive income stream with a high opportunity score.

Selling various types of templates as a passive income stream with a high opportunity score.

  • Templates include resumes, presentations, websites, financial Excel sheets, and custom Notion templates.
  • Success stories include YouTuber Thomas Frank and Twitter user 'islo'.
  • Potential marketplaces for selling templates are Etsy, Creative Market, or personal websites.
  • Rated 9 out of 10 in opportunity score.

Chapter 2

Live Training Announcement

1:51 - 31 sec

Promotion of a live training session on growing and monetizing a YouTube channel.

Promotion of a live training session on growing and monetizing a YouTube channel.

  • Training to cover unique content not previously taught, possibly a one-time event.
  • Scheduled for Tuesday at 8:00 p.m. Eastern Standard Time.
  • Links to the training are provided in the video description.

Chapter 3

Investing in REITs

2:25 - 47 sec

Using Real Estate Investment Trusts (REITs) to earn truly passive income.

Using Real Estate Investment Trusts (REITs) to earn truly passive income.

  • Investment in REITs allows earning from real estate without direct management.
  • REIT companies must pay out at least 90% of their taxable profits to shareholders.
  • Requires a significant investment for substantial earnings.
  • Opportunity score rated at 7 out of 10.

Chapter 4

Selling Educational Worksheets

3:14 - 56 sec

Creating and selling educational worksheets online.

Creating and selling educational worksheets online.

  • Target audience includes students, teachers, and parents looking for supplementary materials.
  • Michelle Schroeder Gardner's success story of earning over $400,000 a year.
  • Marketed on platforms like Shopify, Etsy, and TeachersPayTeachers with various fees.
  • Rated 8 out of 10 in opportunity score.

Chapter 5

Flipping Blogs or Websites

4:23 - 1 min, 5 sec

The practice of buying, improving, and selling blogs or websites for profit.

The practice of buying, improving, and selling blogs or websites for profit.

  • Websites like Flippa.com are platforms for flipping blogs or websites.
  • Stories of individuals making significant profits through website flipping.
  • Domain flipping is another variant of this business model.
  • Rated 8.5 out of 10 in opportunity score.

Chapter 6

Creating and Selling Online Courses

5:32 - 1 min, 52 sec

Developing online courses as a lucrative income source.

Developing online courses as a lucrative income source.

  • Online courses cater to individuals seeking step-by-step guides on specific topics.
  • Platforms like Udemy and Skillshare are popular for hosting courses.
  • Stories of individuals earning significant income from their courses.
  • Rated 9.5 out of 10 in opportunity score.

Chapter 7

Starting a YouTube Channel

7:29 - 2 min, 0 sec

The potential and process of earning passive income through a YouTube channel.

The potential and process of earning passive income through a YouTube channel.

  • Starting a YouTube channel requires significant upfront work but can become passive over time.
  • Educational channels are recommended for their ease in gaining views and monetization.
  • Success stories of individuals making substantial income from YouTube.
  • Rated 10 out of 10 in opportunity score.

Chapter 8

Investing in Rental Real Estate

9:36 - 1 min, 10 sec

Earning through rental property investment.

Earning through rental property investment.

  • Investing in rental properties comes with responsibilities like maintenance and tenant management.
  • Hiring a property manager can make it more passive but reduces profits.
  • Real estate investment builds equity and offers tax benefits.
  • Rated 8.5 out of 10 in opportunity score.

Chapter 9

Renting Out Your Car

10:50 - 27 sec

Renting out personal vehicles through platforms like Turo.

Renting out personal vehicles through platforms like Turo.

  • Users can rent out their vehicles during idle times such as work hours.
  • Examples of individuals earning significant income from car rentals.
  • Requires maintenance and management of the vehicle.
  • Opportunity score rated at 7 out of 10.

Chapter 10

Vending Machine Investments

11:20 - 1 min, 0 sec

Investment in vending machines as a source of passive income.

Investment in vending machines as a source of passive income.

  • Vending machines act as silent salespersons offering snacks and drinks.
  • While one machine might not yield high profits, many strategically placed machines can.
  • Examples of successful vending machine businesses are provided.
  • Rated 7.5 out of 10 in opportunity score.

Chapter 11

Creating a Membership Website

12:57 - 39 sec

Generating income through subscription-based membership websites.

Generating income through subscription-based membership websites.

  • Membership sites provide exclusive content for a monthly fee.
  • Patreon is a commonly used platform for such websites.
  • Example of Gillian Perkins' success with a membership site.
  • Opportunity score rated at s out of 10.

Chapter 12

Writing and Selling Ebooks

13:38 - 1 min, 13 sec

Creating and selling ebooks on platforms like Amazon.

Creating and selling ebooks on platforms like Amazon.

  • Ebooks can be about highly searched topics on Amazon.
  • AI tools like ChatGPT can assist in creating ebook content.
  • Ebook businesses have potential, especially for beginners.
  • Opportunity score rated at 8.5 out of 10.

Chapter 13

Lead Generation for Service Businesses

14:51 - 44 sec

Creating websites that generate leads for service-based businesses.

Creating websites that generate leads for service-based businesses.

  • Leads can be sold to local businesses like plumbers.
  • The process can often be automated.
  • Though complicated and labor-intensive upfront, it becomes passive over time.
  • Rated 7.5 out of 10 in opportunity score.

Chapter 14

Blogging

15:37 - 1 min, 4 sec

Making money through blogging on personal blogs or platforms like Medium.

Making money through blogging on personal blogs or platforms like Medium.

  • Blogging can generate income from AdSense, affiliate marketing, and article views.
  • Example of a blogger making $300,000 a month from a software review blog.
  • Requires significant upfront work but has long-term passive income potential.
  • Rated 9 out of 10 in opportunity score.

Chapter 15

Investing in Startups

16:44 - 43 sec

Investing in startups as a high-risk, high-reward passive income strategy.

Investing in startups as a high-risk, high-reward passive income strategy.

  • Platforms like Start Engine allow individuals to invest in various startups.
  • While the majority may fail, a single successful startup can offer immense returns.
  • Venture capitalists often adopt this strategy, understanding the associated risks.
  • Not rated in opportunity score.