“Passive Income Freedom” by Gundi Gabrielle follows my heart by discussing my favorite topic, passive income. These words are music to my ears, and this book plays the perfect harmony.
Inside the book, the author gives us over 23 passive income ideas. She thoroughly explains each concept, and you have enough resources to start further due diligence. I like how she explains if the idea is for advanced passive income seekers.
Passive income is hard to build; that’s why most people do not have streams of it flowing to their accounts. The author talks about SEO, keywords, social media, content creation, and affiliate marketing. Of course, these are all things I speak about as well.
I will talk about five of the passive income ideas I found particularly juicy for my five takeaways.
1) Airbnb Arbitrage. I like the idea of renting a home from someone else, then making it into an Airbnb rental. Then, over time, you get a manager to handle most of the legwork for you. A very sleek setup if you can find an excellent initial rental market.
2) Piano Empire. The author talks about pianos, but this technique can work for other instruments, cameras, game consoles, etc. You basically buy and rent your equipment to someone else, giving you a passive income stream. Simple, yet effective.
3) Memberships. Once you have a following, you can offer paid memberships. However, you have to have a substantial backlog of content, plus future content. If you are a content creator, this is a great option.
4) Online course. Again, once you have a decent-sized following, you can create an online course. Classes can range from $97 to $9997+. It is a great way to reach your superfans.
5) Webinars. Webinars can bring in great income as well, plus meeting up with fans builds camaraderie. You can also create “evergreen” webinars that run on autopilot. They bring in less revenue but don’t take up your valuable time.
The more I read about passive income, the more excited I become about the future. I am still grinding away at my job, but that will end soon enough. Reading books like this helps me build the correct framework in my brain.
Building passive income takes time; the most crucial part of passive income is bringing in traffic. A great source of traffic is publishing books! Hence, why I write so many books. I am slowly building an audience, and from there, I can utilize many of the techniques in this wonderful book.
I highly recommend this book to those who are new to the world of passive income. However, building the correct mindset before reading this book is much more difficult. Passive income takes time, energy, and intelligence. You have to have a long-term attitude. Knowing that, I recommend this book for people who want a different outcome for retirement.
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