* Solar Panels. In the UK, the government pays you per kWh generated. Needs an upfront investment, but stable income and you reduce your own energy bills. See http://shkspr.mobi/blog/tag/solar
* Renting out property. Needs a much larger initial investment, and requires ongoing maintenance. On a good month I only hear from the managing agent once per month with details of how much rent is being paid.
* Stoozing. Find a credit card with 0% interest on balance transfers. Stick the money into a savings account. Or, if you like risk, on a horse. Need a good credit rating and decent savings rate to make more than a few hundred a year though.
* Affiliate marketing. If you can find a good theme (e.g. Halloween) and a decent place to put the links (somewhere that wants them - not spamming them everywhere) it's possible to get a moderate passive income. Well... not quite passive, requires upfront time commitment of selecting links and locations.
* Hosting / simple websites. Again, little bit of up-front commitment. Works best if you can find a local niche of people who want a friendly face to host their websites. Usually as simple as buying a domain, setting up WordPress, and turning on automatic updates.
In general, the best passive schemes require a large initial outlay and/or a dubious moral outlook. A better way to enhance your income is to eat out less, stop buying stuff you don't need, and shop around for deals. Boring but true!
The approach is to find a type of product where Amazon has thousands of listing but the specifications are not very accurate and the filtering criteria are limited, and where there are highly active forums with people talking about and asking about these products. Then you build a proper searchable catalog for the products. Include lots of search criteria, sorting criteria, side-by-side comparison, recommended accessories, anything that would be useful for people looking to buy them.
Once my catalog contained over 1,000 models I started replying to posts on forums with a link to my site that provided what they were looking for. People loved the site and it wasn't long before they were posting links to it to answer each others questions. That's all it took to start ranking on Google which is now responsible for 3/4 of my traffic.
Initially this is not passive income. The first few months are a lot of work for very little money. Eventually the balances shifts to the point where additional work is only needed if you want to keep growing. Amazon's product advertising API allows you to get current prices, availability and popularity (sales ranking) to keep everything fresh.
It also required upfront confidence in the sustainability of the government subsidy. In The Netherlands a lot of now-solar panel owners decided to invest because of subsidies, but last year the government decided to stop the subsidy for 2016. Especially with the low energy prices, that makes it a net loss for a lot of people.
I assume that by apps you mean native mobile apps. Anyone know how ad-supported mobile apps stack up against web apps? On the one hand, there's no such thing as ad blockers for native apps. On the other hand, web apps run on more platforms out of the box including desktops, and desktops in general seem to be easier to monetize via ads.
> Hosting / simple websites. Again, little bit of up-front commitment. Works best if you can find a local niche of people who want a friendly face to host their websites. Usually as simple as buying a domain, setting up WordPress, and turning on automatic updates.
Does anyone here have experience with this? It's an awfully saturated market, and there's not a lot of ways to differentiate yourself without turning it into a full-time job. That said, if it is as easy as edent makes it sound, I'd love to dive in as an excuse to get some system administration experience (and try out some ideas I have in that area).
There is on Android. Two options: install a pseudoVPN proxy that happens to consult an adblocking filter; root your device and install an /etc/hosts blocker.
Not gonna win any design awards, but so many small-biz sites suck badly because the tools available aim to do too much and become complicated or encourage the user (probably non-technical to begin with) to get too fancy and do too much.
Piggy-back off this and up-charge: https://picnic.sh
Biggest challenge would be gaining traction.
thinking back one client moved because she said she couldn't update her site herself (note it was a cms) and some dude bamboozled her into drupal. He used the theme I'd built her from my custom cms and years later the site still has the same content copied from the one I did for her..
- it's harder than you think and a lot of work to find new customers
- customers usually want more than "just a website"; you also need to offer things like newsletters, online reservation, etc.
- if you get enough customers to make it worthwhile, you will be get lots of support requests
Every time I meet him, someone calls him for help with their website.
Barebones, but enough so anyone searching locally wouldn't have trouble finding their phone number, hours, location, etc.
I don't use Facebook or the yellow pages. If you don't have a website, I probably won't find you. And if your website quickly tells me what I want to know vs. making me click through pages under construction to find it, I'll be much happier.
But, as markyc said, Facebook may be the best strategy for small businesses.
If you're interested I highly recommend the MoneySavingExpert Matched Betting forum - http://forums.moneysavingexpert.com/forumdisplay.php?f=41
It is free, unbiased (lots of the specifically tailored sites like PA mentioned above have affiliate deals which reduce the amount you can earn) and active.
Discussion on the MSE forum is restricted to what they define strictly as "risk free", not "EV+" opportunities, but that's a healthy start.
Their definition of risk free is making a guaranteed profit regardless of the outcome - Either natural arbitrage or an offer-dependent forced arbitrage.
There is an upfront time element needed, and then to keep it rolling you'll need to take advantage of reload offers if you want a trickle, but if you're prepared to put the work in and use a site like this that does most of the "thinking" for you, it can work.
I remember the now defunct site that showed me how to bag bonuses as a student a decade ago being straightforward about your pretty modest level of expected winnings (and for blackjack bonuses, modest level of risk) and focusing mainly on the actual maths.
For anyone that wants it as a passive income project, there's some very nice potential affiliate earnings (redirected through another domain, naturally) for anyone that wants to create a less scammy looking explanation...
What I interpret your explanation as is more akin to trading - Buying backs at a time and waiting for odds to fluctuate at an exchange for a sale.
Although there is no (simple) way of doing a pure arb between a bookie/exchange, all the popular exchanges expose existing liquidity in a market and you can quite safely reduce the risk by double checking available liquidity at the exchange in the seconds before placing your back bet.
Most people I know who do well in that space do so after several years. Once they learn how to be a landlord, learn the quirks of the market they invest in, etc, it can be pretty low stress, although not necessarily hands off.
But if you're just starting out, you should expect to make some mistakes and run into some headaches as you figure things out.
Even if you are willing to take on a moderate amount of risk, most people - even those with good credit and decent incomes - are going to net a few hundred bucks per year off this thing, max.
It is a really poor way to make extra income.
I remember doing this in 2007. I wasn't aware there was a specific name for it.
Doesn't really work anymore : Most balance transfer credit cards charge a minimum fee of 1% to 3% on the transfer amount AFAIK. Savings account pay less than 1%.