Investment no doubt is the surest way to make passive income, grow your wealth, and remain financially stable.
However, the issue here is identifying the best investment ideas that can make you money in the short term.
I have done extensive research on the internet, reading about people who invested wisely and made fortunes from it.
So in this guide, I shared the best money investment ideas that can make you passive income without you waiting for years.
Peer-to-Peer Lending
This is a common investment idea that can make you passive income in the short term. It involves you joining an online lending platform where the borrower comes to borrow money for business and other purposes. They repay the money in a short period and also pay the interest that goes with it.
The idea here is for you to join as a lender and get a cut of interest rate borrowers pay when repaying the money they borrowed. Think of it as small businesses meeting individuals ( lenders) to take a loan from them, facilitated via a lending platform instead of the traditional financial institutions like banks. These businesses pay back the loan with interest and the interest and money borrowed is distributed to the lenders that funded the loans while the lending platform takes its own fee for facilitating such deals.
High-Yield Savings Account
If you have huge amounts in your bank, consider high-yield savings accounts that offer higher interest rates within a short period of time. Online banks and credit unions are known for providing this type of savings account as an investment opportunity for wealthy individuals who want their money to work and make them passive income. For example, Ally Bank in the United States offers this type of savings account that can see you make up to a 4.25% interest rate annually for the amount you deposited in your high-yield savings account.
Short-Term Rental Properties
If you own lots of residential buildings, you can consider short-term rental properties as an investment. Here you rent your building to guests, visitors, or tourists for a short period and have them pay you rent for the time they use your property. This could be likened to the Airbnb business model but on a small scale. Instead of travelers renting hotels, motels, or guest houses, they can use your short-term rental property for a week or month.
Short-term rental properties can be in the following:
Short-term apartment – Rent your apartment or even a room to tourists, travelers, or business people.
Vacation rental – Many people who go on vacation prefer renting apartments for a short period instead of using a hotel. You can rent your condo, house, or apartment to them.
Bed and Breakfast – Rent your bedroom to guests and serve them breakfast. So you charge them for housing and feeding, an avenue to make more money. Short rental property is a lucrative investment opportunity in cities like New York, Los Angeles, Miami, and Orlando – these are top most visited cities in America by foreigners.
Online Courses and E-books
Digital products are investment ideas that can yield passive income in the shortest possible time. You can create online courses and e-books and sell to them a target audience that wants to solve a problem. This type of investment doesn’t require a huge capital. Your skill, knowledge, and marketing strategy is enough to make this happen.
Let’s assume you’re a salesperson who has helped Fortune 500 companies drive massive sales. You can create an e-book or online course to show upcoming salespeople who aspire to become the go-to salespersons top companies will kill to hire.
For online courses, you can create them on platforms like LearnWorlds and Thinkific. I prefer LearnWorlds because of its interface which is beginner-friendly, plus it offers advanced marketing tools.
And don’t worry about how you will sell digital products!
For e-books, you can upload them on Amazon Kindle. Amazon has made many e-book creators millions of dollars.
Daily, people visit Amazon Kindle to buy e-books on different topics.
Here is how it works; you create your ebook and upload it on Amazon Kindle. Amazon helps to boost its visibility, so users can see and buy it. When you make a sale, Amazon takes a small percentage of it and the rest goes to you. You can withdraw your money using different payout methods.
For online courses, you can upload them on Udemy and Skillshare. A lot of people come to these platforms to buy online courses. Like Amazon Kindle, Udemy, and Skillshare take a small percentage of any sale you make. The rest goes to you, and you can withdraw using different payout methods.
Michelle, the founder of Making Sense of Cent has made over $1,000,000 selling her online course named Affiliate Marketing for Bloggers and Influencers. She is just one out of thousands of internet entrepreneurs who invested in digital products and have made a huge return on their investment within months.
Dividend Stock
Dividend stock is a lucrative investment idea if you identify a company with the potential to remain profitable in the long term. Here you buy stock of companies and become shareholders. The company pays you dividends periodically from its earnings if you’re an investor looking for sources to widen your investment portfolio, consider dividend stocks.
To invest in dividend stock, you need to first open a brokerage account. Go for reputable online brokers and financial institutions that have legit companies that pay dividends as expected.
Research companies with a reputation for paying dividends. Use stock screener and financial news to vet companies with a history of healthy financial status. Purchase stocks from different companies to diversify your portfolio and minimize risk. Track your portfolio to know when dividends are paid and for developments in companies you have in your portfolio.
Final thought
Investment is the only way to grow your wealth, remain financially stable, and live the life of your dreams. I have helped you research and identify lucrative investment ideas that can make you passive income in the short term. From P2P lending, high-yield savings accounts, and short-term rentals to dividend stocks, these investment ideas can grow your money if you have the skill and experience needed. Keep in mind that investment can be risky and there is no guarantee you will become wealthy once you invest in these ideas.
