5 Passive Income Ideas

If you’ve been looking for smart ways to make money in 2020 and beyond, this article is for you. At Andromo, we’re all about making life easy for our developers and readers. So we’ve come up with five passive income ideas that you can start with little to no cost. Additionally, you don’t get to quit your 9 to 5 job. Also, these passive income ideas won’t take your time at all. All you have to do is get the right guidance. We’ve seen individuals with no tech background passively six, seven figures monthly from applications built with Andromo. Making apps is the easiest way to monetize. All you need is a detailed guide, and this is your complete guide.

Create an App

Are you willing to turn your passion into a passive income making machine? Do you have an app idea that you’re eager to turn into a digital product? Look no more; we’ve got you covered! You do not have to worry about your background. Andromo has in-built drag and drop builders that allow you to create applications. It doesn’t matter who you are. Making content apps is the easiest way to make passive income. If you’re a photographer, make a wallpaper app and make money from it through several means, which will soon be discussed. If you’re a gaming person, you can come up with gaming wallpapers. We’ve seen people make between $200 to $500 per day just creating apps. If you’re a foodie, a chef, you could also make a recipe app.

Now, here’s the part you’ve been waiting for; how do you monetize your apps. This is very easy, and we will put you through. One of the easiest ways to monetize your apps is through Admob. Admob allows you to run high-performing in-app ads on your app so you can grow your revenue. It comes with intuitive dashboards and analytics for you to optimize your engagement for better in-app ads. You get paid based on the number of clicks and impressions of your ads.

Additionally, if you have the investment, it is also possible to run Facebook ads to get more revenue and app users. And Andromo supports this in its Pro and Ultra plans. So you can test run your app idea with its Hobbyist plan, but the pro and Ultra plans give you advanced features. Ultra gives you more advanced tools for monetization, and you get to make unlimited apps. The Pro and Ultra plan also allows you to run Facebook ads to grow your app installs. Remember, more app installs mean more monetization.

Additionally, you get to publish both on Amazon and Google with your custom package name. You also don’t have to be a programmer to use Andromo. Andromo features lots of pre-made templates, and all you have to do is substitute your content for the templates and publish at a click.Making content apps such as sound apps, wallpapers, and entertainment apps are the easiest way to monetize your apps. So we recommend this. The process involves you deciding on the best content. Ensure the content has a ‘wow’ factor and highly engaging. Then choose e a template on Andromo. Andromo has lots of templates, so you’d find one that suits your branding. Then fill the templates with your content and start to monetize.

Affiliate Marketing

Creating your product from scratch could cost you a lot of money. Additionally, it is possible that you don’t have time for that. But did you know that you could make a lot of money promoting other people’s products if you know how to do it right? It costs nothing to start earning passive income from affiliate marketing. All you have to do is look for high-ticket, on-demand products with a ‘wow’ factor. Here’s how affiliate marketing works;
You search online for products on affiliate networks (such as ClickBank). Then you promote these products on social media, email lists, or blogs. To succeed with affiliate marketing, you need some copywriting skills. You need to be able to create copies that are attention-grabbing.You must also identify your ideal audience and their pain points to be successful with affiliate marketing. Hence, it would help if you came up with a good buyer persona to create a converting ad copy. Other channels to promote your affiliate products include blogs, YouTube, and Facebook. Setting up a website is now very easy. You can easily set up a website using WordPress and promote your affiliate products in the blog section.

List Your Place on Airbnb

This is probably one of the most exciting passive income strategies for 2020 and beyond. You can quickly become a landlord without owning a property! This is pretty simple; all you have to do is find a homeowner who is willing to have their house listed for rent on Airbnb. We’re not telling you to knock on doors to start asking landlords if they’d like to have their home listed for rent. The world is now advanced. Thanks to marketplaces like Craiglist. You would see hundreds of landlords willing to let out their properties. Email these landlords and make your proposal, set up an agreement. Imagine how much money you would make if you have just ten homes under your management.

Invest in Crowdfunded Real Estate

We’ve seen an explosion of online crowdfunded real estate in the last couple of years. It doesn’t matter where you are; you can invest anywhere you are in the world. Investment in Real Estate will always be around, and it has the lowest risk profile.Traditionally, one major issue with real estate investing is the barrier to entry. Sometimes you have to commit a 20 percent upfront payment to get a real estate deal! Well, that’s not the case today. Crowdfunding involves pooling money with other investors to buy real estate. There are lots of Crowdfunded estate investment platforms, so you do not have to worry about getting someone willing to invest. One good example is the Fundraise. With a minimum investment of just $500, you could get started with real estate investing and start making passive income.Additionally, you do not have to make investment decisions yourself. So you needn’t bother if you do not have real estate investing experience. These platforms give close to two decades of experience in real estate.

Sell information Products

There’s no better time to turn your expertise into an online course and also get paid for it than now. Guess what? All you need is the right attitude, the skills, and the tools. And by tools, we do not mean expensive cameras and automation tools. You’re probably reading this post on your smartphone, and that is enough to start shooting online courses. You do not need to spend a lot of money creating your first online course. You can get started with what you have and still make a lot of money from it. If you don’t have any technical skills to build membership websites, there are many resources out there to get started for free. Thinkific offers a free plan to test your online course idea. It features a drag and drop builder to build your online course website without writing a line of code. Udemy is also a great platform to host your online course. Udemy even has the additional advantage of helping you promote your online course through Google ads.
And if you’re not comfortable creating videos for online courses, you can still create information products online. Selling EBooks online is a great way to make passive income. Also, you do not have to worry if you don’t have any graphic design skills. You can easily design your EBooks for free using Canva. Additionally, you do not have to start spending a lot on sponsored ads to market your online course. You can start by marketing your online course to your followers on social media and Facebook groups.


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5 Passive Income Ideas

If you’ve been looking for smart ways to make money in 2020 and beyond, this article is for you. At Andromo, we’re all about making