Let's talk about sources of passive income!

General
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$647 this week from sales of goods I didn’t produce for a profit of 100% :raised_hands:

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Using an automated dropshipping system can be an effective way to generate passive income through eCommerce. In this model, you set up an online store where you list products for sale, but you do not need to handle the inventory or shipping yourself.

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I tried lending money through online peer to peer platforms and it worked well for me. By providing loans to individuals or businesses, I earned interest on the amounts I lent. While there is some risk involved, it turned out to be a rewarding way to generate passive income.

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Here are some examples of what I’ve done this year. While the examples you provided could work, they aren’t very passive. Consulting, by its nature, is the opposite of passive, and investing typically requires a significant nest egg to be effective.

Here’s what I’ve done:

Fiverr Automation: Create an account on Fiverr and identify the most popular gigs that can be automated. I did this with resume reviews. Start by offering your service at the lowest possible price ($5) and increase your rates as you gain more reviews. Eventually, I outsourced the entire process to a virtual assistant who used AI to edit the resumes. This way, I earned $1-2k per month passively.

Digital Product Creation with AI: Use tools like leonardo.ai and krea.ai to create sticker designs and sell them on Etsy or Redbubble. Focus on hyper-local designs to reduce competition, such as designs related to mid-sized U.S. cities or regional attractions. Finding a niche is crucial to stand out among competitors.

Daily Sweepstakes Bonuses: There are several sweepstakes sites (like Chumba and Stake) that legally have to give you a daily bonus for logging in, usually around a dollar. By collecting bonuses across multiple sites, I make $8-10 per day. You need to play through the bonus amount once, but I typically withdraw about 90% of the initial bonus. To make it even more passive, I built a Chrome extension that automates the daily bonus collection across these sites.

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