For the past five years, I have been searching and looking for industries which can give a substantial passive income so that I can do things when I want to, with people I want to do with, whenever we want and wherever we desire and experience a freedom which most people do not have or doesn’t even want to look at because it isn’t available much in employment.
Here are the three industries (no particular arrangement) which I know would create a long-term passive income:
- Real Estate Investing – when one owns a set of apartments or multi-family dwellings. The challenge is it has a certain peak of passive income plus you need to take care of the property and be vigilant in choosing the good tenants. The capital needed can be quite high but some people teaches low down payment in acquiring properties.
- Network Marketing Business – This requires a low capital but intensive time and effort in building the right foundation for the business and for a period of three to five years. The good things here is that once you have set it up and are earning a passive income, it tends to be in a geometric income progression.
- Intellectual Property-Related – I believe this place belongs to copyrighted materials or processes, trademarks, patents, and other creations of the mind. It includes books, games, websites and others too many to mention. Once the “property” is created, there’s a lot of chance to sell it over and over again.
May you find great insights from these simple lessons I gathered so far. If you know other industry-types, kindly let me know. Thank you.
To your success,
Jake De La Cruz
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