Passive Income (or Residual Income) can be hard and I promise you it is not realistic to make money online overnight. If you have ever wanted to work from home, this article and video is perfect for you!!
There is no such thing as getting rich quick. Making passive income from your homestead is about finding what you are passionate about and then leveraging those systems to provide you an on going residual income so you can spend more time on your property…. and less time away from it!
And like my boy @bluerthangreen says over on Steemit.com, Home-In-Stead. Get it? Being home instead of being away at a 9-5!! I love that!
What is the Secret Sauce to Earning Passive Income?
The key for this is to find many ways to make passive income, the more methods you use the better chance you’ll have at being successful.
10 Ways to Make Passive Income From Your Homestead:
- Monetizing a YouTube channel with Google Adsense. This is my top choice because I honestly think that there is no better way to promote a business, product, or service than on YouTube. Also, you have the opportunity to become a “YouTuber” and monetize your videos/gain a revenue stream through YouTube’s Google Adsense. Yes, YouTube is owned by Google.
- Stock Footage. Being a story telling and video producer I love, love, LOVE this one! There are many sites, like istockphoto.com, VideoHive, lightstock.com, audioblocks.com, videoblocks.com, etc., where you can upload and sell license to your work. So if you are a homesteader, there are a lot of other homesteaders that run blogs and need photos for those blogs. Get some great pictures and video clips of those beautiful Onagadori chickens and you can make some cash.
- Network Marketing. The way that we make passive income is from our doTERRA essential oils business. We first fell in love with essential oils and then we realized that we were giving them away to everyone and we thought we might as well make some extra money. It turned into myself being about to quit my job and semi retire early. Not really but being a time free dad feels like retirement! The same thing is possible with any network marketing or mlm company. Just pick one that you have a supportive leader and team.
- Tree and Plant Propagation. This is literally like planting money! This increases your property value without increasing your property taxes. If you can purchase undervalued raw land and improve it by planting productive trees, this is a wonderful residual income stream in regards to a sellable yield. Charge people to come to you for a “you pick it” fee.
- Write and Sell and eBook. There can be a post by itself, too many reasons why you should do this! Check out our eBooks here: Ebooks
- Online Courses. Other ways to make passive income especially if you have a YouTube channel is to take your video skill and make an online course about a subject you are an expert in. Digital projects like online courses are the best way to make passive income because people can purchase from you while you sleep. Check out sites like Udemy or Skillshare. Just because I have experience with video production, doesn’t mean that you even need to own a camera to create a video course. All you need is a computer with a camera built in, or a smart phone. Of course, the better the production value is, the better the content quality will be, but don’t let that stop you from sharing your expertise and gaining some passive income. Are you a carpenter or water well driller? Create a short video series about your profession and put it up on your site for a small fee.
- Affiliate marketing is most likely going to be the most popular amongst homesteaders. It is just too easy and no stress to review products that you are passionate about. To see how we do it and support us, go to BetterAMZ.com then click on the main banner and continue your shopping from Amazon. It take one extra click and doesn’t cost you a penny! Passive income out the wazoo!!!
- Make a Documentary of a season of your homestead. This is self-explanatory. If you have an idea for a documentary film, you can create something amazing and sell it! It has never been easier to find a film crew to film and edit the movie. Check out UpWork or Fiverr.
- Real Estate Investing. Another way to make passive income is to rent out a portion of your land to something that is low maintenance.
- Patreon is an amazing way to have some extra passive income stream. Patreon.com is a platform that enables a new way of passive income that is primarily for podcasters, YouTubers, and musicians/artists. Patreon is a long-term crowdfunding site. I like it! Patreon includes a monthly commitment by your patrons, and you’ll have to follow through on your promises to them.
Steemit! Of course I can not finish up this post with out mentioning Steemit! I didn’t understand Steemit in the beginning, as I didn’t think that this was passive income. But once you understand the power of steemvoter.com…. YUP!!!! Steemit can 100% have a passive income stream for ya! I’d throw D-Tube in here as well, but unfortunately it hasn’t replaced my YouTube account just yet.