5 Unique Passive Income Ideas You’ve Never Thought Of

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This is the digital nomad quest podcast with Sharon Tseung. teaching people how to build passive income, become financially free and design their best lives. Hey guys, it’s Sharon from digital nomad quests and today I’m going to talk about five unique passive income ideas that you probably haven’t thought of. So if you’re new to this channel, welcome, I’m all about teaching on how to build passive income, become financially free and design your best lives. If you’re about entrepreneurship, you love the digital nomad life, make sure to smash that subscribe button and get notified on my latest videos. Let’s get on with today’s topic. I had not thought of these passive income streams before because I’m all about the online business side. I’m all about the you know, the real estate investing side. So these unique methods were very new to me and actually kind of exciting. It’s never a bad idea to diversify your income stream so you might as well try new things. So the number one I’m gonna talk about is ATM machines. I never actually thought about where ATM machines came from. I always had this idea that like they came from, you know, banks or corporations where you don’t really have access to them, but apparently seems like you can make decent passive income through ATM machines. So when people make a withdrawal, they’re going to pay a bit extra in order to take that money out and you’re going to be able to get that commission. So with this have a business it’s all about where you place those machines, which locations you’re placing them because you want to get them at high traffic places, you want to make sure people are going to be using them the most. So think places that have high traffic and maybe stores that are cash only. This is a good way to start making that passive income. It’s an interesting way I never thought of it I probably won’t pursue this way but it’s like kind of cool to think about number two is vending machine. I would say it’s passive but the maintenance work is seems like a little bit more than others. Again, this might not be something I pursue because it seems like there’s work around like going through your route of vending machines and then restocking inventory, collecting payments and possibly like if machines break down you’re gonna have to fix them. It seems kind of passive in the sense of you, you make sales Like while you’re just chilling at home or whatever, but seems like there can be like more work when it comes to maintenance. So there’s some people on YouTube that have tons of vending machines out there. And then they make a few grand a month, I believe I’m just having these vending machines and restocking them, which is actually very exciting. It’s another thing where same as an ATM machine where you’re trying to figure out locations of places with high traffic places where people will probably buy soda or snacks and things like that. So it’s another thing where you got to kind of tap into where where would people be going? So it’s kind of interesting in that way. So number three is crane games actually think this is more fun and more passive. And this is something I was actually exploring. I was actually going on Craigslist trying to find crane games and claw machines that people play with and then I was going to try to see if I can make a passive income stream that way. I haven’t done it yet. But we’ll see if I end up pulling the trigger. It’d be a fun video right at least First of all, I love playing games. I play it all the time, like when I’m in Taiwan and stuff like that. So it’s interesting to me and I feel like this channel has low sorry. Causes low maintenance because you can fill it up with toys and it’s not like every time people put money in they’re going to get a toy it’s actually kind of hard to get a toy right so i love that combination of like the funniness low expensive and the passive part of it, it makes it more appealing to me to get a crane game number four is laundromats I heard about this while I was at pass lanes course creation workshop and one of the students actually had their own laundromat that actually cash flows better than a rental investment like a rental property. They make like a few grand a month and they I think the whole laundromat was like 100 grand total. But that’s like over the 1% rule. If you guys know what that is the 1% rule is basically the idea that the monthly rent you get should be equal to or greater than 1% of the total purchase price of an investment property. So basically if you bought something at $100,000 you should be able to get thousand dollars monthly rent, but like with this laundromat, you’re actually getting positive profits of like a few grand a month which is pretty good. So I don’t know too much about the business. But like it seems like something to look into over like rental properties and number five I would say building and renting out tiny houses and at us I’ve been talking about tiny houses in previous videos but I’ve been like failing each time trying to get a tiny house but I think it can be a very lucrative business if you figure out how to build these 80s and tiny houses and rent them out you know if you understand the regulations you know, like the permits and like the water electricity stuff, it could be a great way to make a lot of money Airbnb being it out. The reason why I say tiny houses and at us is that the price point is a lot lower than like buying an actual house. So I hope you guys enjoyed this episode, please make sure to rate review and subscribe. It really helps our podcast grow. And thanks again. I’ll see you guys in the next one.

Transcribed by https://otter.ai