How To Build Passive Income Source.
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How to make money for life time.If you want to become financially free then you have come to the right blog.
here I will give some of the basic tips to earn a passive income.
nowadays we are like robots. We use to work hard in the same job, waiting for a paycheck until the month end.
think about it, is this what you want in your life? and there are some people out there, enjoying there work because there work is challenging, every day they are looking for new things and solution in their work environment. for example Scientist work on discovering something new and etc... but these types people are very less in our society, like 1/1000 person.
If you want to work and enjoy your life with a financial freedom! then don't wait, start to build passive income source in your life. Then one day you will become independent from your job and will start earning , by the things you like the most.
First, I have to explain what is passive income? " if you start something that brings money to your pocket whether you work for that or not is simply known as passive income" for example you create YouTube videos, Blogs, Renting House, Udemy sharing knowledge, publishing your own books and much more. There are lots of passive income source available but I will Briefly explain about some of those.
I am going to teach you a few things about how to create passive income for a lifetime.
YouTube is the largest platform for creating lifelong passive income and to start you need basic computer knowledge and video editing App and this is more than enough to build the source of passive income.
I will give basic ideas on how to create a video on Youtube.
1st you need a decent camera or smartphone (nowadays who is not having the smartphones so let use it much as possible and also it is very easy to take photos and videos because we already know much about phone camera features)
it is better to start with what we have rather then buy expensive cameras so if we are smart then we will use the resource currently in our hand.
I took some videos and photos during my vacation (2017)when I visited Ella rock in Sri Lanka with my friends. I used some basic video editor in my phone to some affects to the video and uploaded it on to YouTube. it didn't take me even an hour to edit the video.
This is just an example of my experience same as that you might have some photos and videos you took during the vacation or visited some place in your past life and you might have that videos and photos, take all of the memories and start to create good videos and share the video to the world using YouTube.
you can upload anything on YouTube but before uploading videos please review the privacy and policy of YouTube. because if you are not following the policies of the YouTube then sometime you will end up facing legal problems.
Soon I will write step by step guide to create YouTube video so keep your eye on www.mytekkadan.com
2. Second source of passive income is Blog
A blog is the best place to share your knowledge and ideas to the world and it is very less expensive and everyone can create a blog freely. the best blog hosting websites are "blogger.com" and "wordpress.com".
I personally recommend to use blogger.com for the beginners because it is free and user friendly.
let me guide you through my experience, me and my brother were discussing how to start the passive income for a lifetime and we came with an idea of creating a website. A website or we can also say that a virtual place where buyers and seller could connect with each other, the most important thing is any one can unlimited number of ads(free classifieds), which is completely free. we didnt stop with planning, we accomplished it and the name of the webiste is KITKof. you can check it over here www.kitkof.com .we spent lots of money and time on that and even we are giving it completely free of charge to our customers. it is a bit hard to handle just by two of us. so we kept it a side and thought of a new idea, then we decided to go easy way and less expensive to build the passive income. we didn't close KITKof down.. it is still open and anyone could use it.
finally we came up with the plan to use the free source provided by blogger.com and we started to write blog posts from our knowledge then we bought a domain name from GoDaddy and we created our own blog in this blogger.com and we only spend on the domain name and this is very less expensive compared to build our own server with our own site.
After publishing the page. we applied for the Adsense to earn passive income from advertisement. finally, we got it and we are good to go.
now our goal is to write useful articles to people and this way whenever users come to our page we get paid and this is one of the passive income for a lifetime. but getting the Adsense approval is not easy part and we have to create our own content and there are lots of criteria to follow in order to get Adsense approval.
We started this blogger in an idea of earning.. but now our motive have been changed.. our main motive is to let know others what we know..
3. Real estate
Real estate, this does not depend on technical knowledge so this is the best passive income source for everybody who owns a property or good knowledge about the real estate market in your area.
This real estate passive income is required so much financial intelligent to build the income source but it will bring big amount of money if you smart enough.
Real estate is the best place to build the source of income and but it is very hard to achieve tthe goal of earning a passive income, so it is better to learn deep about the real estate and i recommend to read some book about real estate and go out with the real estate export and get the basic training
Udemy.com is the website that you can share your knowledge with the others and get paid for teaching other. for example if you are creating the videos for the office 365 certification guide and you can create an account in Udemy.com and upload your video there. if some one wants to learn about the office 365 and if they buy your video to learn then you will get the payment. this way you are creating one set of video for lifetime and you do not need to wast time on teaching again and again.
A single video work and it will bring money to your pocket for a lifetime but some subject needs to update time to time and it is normal because the world needs changes. so if you want to stay in the market you need to update your content whenever new feature come in your subject.
I hope this basic ideas helpful to you. Stay with Tekkadan Blog for more ideas.