Passive Income Ideas

eliquid

eliquid

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May 10, 2007
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I know a lot of us think about this daily/weekly since we are in a industry that easily lends us to passive income anyways.

I have been thinking though, whats some other ways to "make money while you sleep" that are actual legit ideas? I am doing this exercise to help me diversify my income streams more then I already have.

I will list some well known or already talked about ideas, but if you guys could share some ideas that you have that would be great too.


1. Investments ( have money make money )

Pros: Almost no work if you have the right setup and advisors
Cons: Really need a good upfront sum if you want to make good returns daily.
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2. Real Estate

Pros: In general, has been a good play long term.
Cons: Need good setup of people to help you sometimes unless you do it all yourself. Not sure if I consider this money while I sleep though as I am looking for daily returns and not an extra $200-$400 a month.
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3. Having a website

Pros: unlimited options, unlimited ideas, easy to setup and cheap
Cons: could fail a thousand times, can't rely on SEO for all your traffic
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4. licensing and inventions/patents

I know ZERO about this idea, but I know people make bank.
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5. Car wash and Storage Units

I know ZERO about this idea, but I know people make bank.
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6. Vending routes

I know ZERO about this idea, but I know people make bank.
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What do you guys have to share?
 
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i think it's good to invest your money where you have knowledge on....

so if you have some capital i think it's good to buy some developed site that are already generating money and take it to the next level ...
 
I was thinking about storage units a while ago. Could be 100% automated if done right and grow with demand. But you need an area where there is a demand.

You could call existing storage companies and if they are sold out and there is no competitor in the area, go for it.
 
Landfill sites:

1. Buy site, get waste permit
2. Subcontract running of site to a 3rd party
3. Get contracts for waste disposal from dumper companies
4. Seal landfill site when fill, get building permit
5. Sell land on for additional profit.

Require a larger amount of capital and set-up time than a lot of other ideas, but it's as recession-proof as industries come, and once you have your contracts in place it's reasonably passive. Because it's real estate-based as well, getting finance shouldn't be a problem. Set up costs are likely to be a few million dollars, but you should be able to get in for around $500k.
 
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eliquid said:
5. Car wash and Storage Units

I know ZERO about this idea, but I know people make bank.
​
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There's a car wash service that comes to our apartment complex and seems to do pretty well as they're here every weekend. The nearest car wash is at least 10 minutes away so it's very convenient for people to just drop their car off in the same complex they live at and get it washed for $20 instead of $15. In fact I plan to use them myself in the future.

Not sure if they're making bank but it seems like a good biz idea to go around to major apt complexes and offer this service as car washes aren't exactly on every street corner.
 
passive income for the rest of your life:

oil-rig1.jpg
 
I'll be the only serious one here and be legit about my suggestion:

Commercial All-in-one ice bag dispenser. $1.25 or so a bag, all you need is a water source. They make change and you come in once a week or so to collect.

Set them up in parking lots and split profits with the businesses around choice tourist/recreation areas. Think about how much you'd make if your dispenser was the only ice source near a lake.
 
also, vending is hard depending on where you are.

people that have vending concessions don't usually take very kindly to anyone new to the game.

one of my first jobs consisted of smashing competitors vending machines for a guy who didn't like competition.
 
IceToEskimos said:
one of my first jobs consisted of smashing competitors vending machines for a guy who didn't like competition.
Click to expand...

The commercial versions of the ice makers are basically tanks. A guy bought two and placed them in opposite sides of the city within the last month (in fairly stupid locations since they happen to be right across the road from a gas station with an ice machine). His models basically look like commercial dumpsters, just to give you an idea of the solidity of the machine. Aside from gunking up the bill changer, you'd need some explosives to mess with it. If you place the unit right over the water supply in the lot, it's even less tamper-liable.
 
Rexibit said:
The commercial versions of the ice makers are basically tanks. A guy bought two and placed them in opposite sides of the city within the last month (in fairly stupid locations since they happen to be right across the road from a gas station with an ice machine). His models basically look like commercial dumpsters, just to give you an idea of the solidity of the machine. Aside from gunking up the bill changer, you'd need some explosives to mess with it. If you place the unit right over the water supply in the lot, it's even less tamper-liable.
Click to expand...

It's probably not even an issue in most places, but in certain urban environs vending is very useful if you are trying to come up with sources of legitimate income.

Who's to say your Coke machine doesn't bring in $900 a day?

I'm sure you'd be fine in most areas though.
 
Around where I live there is a popular franchise called Rita's Water Ice (a franchise for which will cost you about $350k btw) that has a huge regional cult-like following. There's one or two in every town and in the summer, you'll see lines constantly 15-30 people deep. They actually backup traffic.

I can't help but think that those places make mad bank, since their whole business model revolves around ice and flavored syrup. Get a lot, building, a few few freezers, and hire some cute teenage girls at minimum wage and you're set.

Of course the downside is that you are closed for 6 months of the year. But most places setup Halloween costume shops and Christmas tree lots during the off-season.

This isn't really helpful to the thread. Sorry, my mind went off on a tangent from the whole "ice maker" thing.
 
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