passive income ideas

9 Passive Income Ideas That Work in 2023 (Make $500 Per Day)

passive income ideas

In this article, I’ll give you 9 passive income ideas to earn money that anyone can start today. I’ve searched through hundreds of ideas and this is the list of my favorite, meaning they still work today and they can pay a lot of money.

If you want some proof that I know what I’m talking about, I make over a hundred thousand dollars of passive income per month right now from ideas like these. Let’s get started.

Table of Contents

Passive Income Ideas Number One: Domain Business

domain business

So our first passive income idea is buying and selling domain names. You might be wondering how exactly is this passive, but don’t worry, I’ll be showing you guys in just a second how to do it anyways.
When it comes to buying and selling domain names, I’ll say that this is super lucrative. There’s a lot of room to make money. Especially right now. There are so many businesses right now that are popping up and so many businesses that are switching online. And one of the very first things that they have to do is create a website, right?

And that does require a domain name, A business’s domain name is the first thing that people see on their website. So it’s super important. And businesses in entrepreneurs are willing to pay a lot for the right domain. And you might be thinking domain. They sound like they cost a lot of money, but the truth is if you use a platform like the name cheap most.com or. co or.io, domains that aren’t taken will be anywhere from seven to $12 per year.

If you can get creative and think about which domain names are going to be popular in the next few years, lock down those domain names. Hold them at some point. Hopefully, someone will want that domain. When that happens, of course, they’re gonna be willing to pay a lot more than seven to $12, and that’s basically where you make your profit.

Something you guys can do to increase the value of the domain is created logos and bundle them together, right? You can use something like Canva to help you create easy-to-make logos, and then when you’re selling the domain, actually offer that as part of the package in terms of where you can.
Sell these domains. There are various platforms, or you can just make a website with that domain and that website’s going to say, Hey, this domain is for sale. You guys can contact us if you want to buy it. If you don’t wanna do that. There are tons of platforms out there like dan.com, which is basically like a domain buying and selling marketplace.

Now to make this more passive, basically what you’ll want to do is you’ll wanna hire a team of VAs to do a lot of research and find good domain names, automate the whole research and buying process, and then you’re gonna want to coordinate with a logo maker on fiber to manage all this.

You guys can get a VA. It’s very affordable if you hire someone from out of the country and you’re basically, there are a lot of. That you guys can create that makes this a relatively passive income source. If you find the right domain, lock it in, and at some point, someone else wants to buy it.

You can easily charge between, let’s say three to 50 to even a hundred thousand dollars or more and that’s a really passive income idea. I know this because I’ve bought domains from resellers, and yeah, there is a lot of money to be made. I’ll end this one with three different tips for buying and selling domain names. One is you’ll wanna check the strength of keywords with Google Trends, research the market and find what domains competitors are using in their industry.

And if you know people who could benefit from the domain name, don’t wait for them to come to you. Reach out to them and ask if they’re interested. Overall, if you can buy popular.com, dot co or.io domains, finding the right buyer for these can make you a lot of money.

Passive Income Ideas Number Two: Make YouTube Channel

Our next passive income idea is making a highly YouTube channel that makes money from affiliates. For example, you could start a YouTube channel that only talks about bodybuilding supplements. bodybuilding.com is paying 6.5% per sale through its affiliate marketing program. This means that if you make videos about a particular bodybuilding supplement, people watch that video, get some value from it, and click on that link.

You get 6.5% of whatever they buy, which can add to lots with supplements. So essentially we are combining YouTube with affiliate marketing, and this can be super lucrative with most affiliate programs offering commissions of between five to 30%. See, I’m a living example of someone that’s, you know, made a lot of money from affiliate marketing, and trust me when I say this, there is so much potential with this income idea.

There are so many niches on YouTube that haven’t been done yet, and there are so many that are strong. What I recommend doing is starting with some type of channel that reviews things. Reviews are great because people that watch your videos are probably on the verge of buying them, and if you like a product and you make a review of it and someone watches it, they’ll likely click on that link in your video and make the purchase.

Another great YouTube channel idea is making a niche interest channel. There are probably millions and millions of different niches. Not many people have done this, so I do think that there’s so much opportunity with these YouTube channels. You’ll wanna create evergreen, searchable content, which is content that will.

In the search results when people search for something. As you guys probably know, YouTube is the second largest search engine in the world, and this is great because it means that the content is going to get views for months or even years after you post it. Super, super passive. You make the video, once you set up the affiliates once, and from those videos, they should be able to generate passive income for a very long time.

Passive Income Ideas Number Three: Book Publishing

Okay, so this next passive income idea is going to be book publishing. Specifically cringing low slash no content books on Book book. There are tons of ways you can start a book publishing business, but this platform is super cool because you don’t even need to write a single word. The way it works is through Amazon’s Kdp, also known as Kindle Direct Publishing, which prints on-demand books that are sold through Amazon.

It’s free to sign up for Amazon kdp, and Bookbolt has a ton of templates for each to create journals, diaries, and book covers where the customer. In the book instead of, you know, you writing the content. Plus with Amazon, you don’t have to pay for inventory costs, shipping costs, or deal with customer service.

You receive royalties on every single sale and have access to Amazon’s dominant marketplace, which controls over 83% of the e-book sales on the market. This is a super underrated side hustle with very low competition.

Passive Income Ideas Number Four: Airbnb Arbitrage

Next up is Airbnb arbitrage. So this is basically when you rent properties to sublet them on Airbnb. This allows you to earn passive income through Airbnb without taking on the risk of buying.
Especially with interest rates being so high right now, it is hard to cash flow when you are buying properties. Instead, you can just rent from a landlord, convince them to allow you to put the property on Airbnb and whatever the difference is between the amount of money coming in minus the rent you’re paying, that is going to be your profit.

So yes, this does require time and energy. Start, but afterward, it can be passive and lucrative with the potential to make two to three times more than the cost of the rent. And if you still have the right systems in place, it’s very passive. I highly recommend checking out Mr. For eight and Jorge Contreras.

Both of these guys are my friends and they crush it with their own Airbnb arbitrage business. Yes. Many people think that the market is saturated nowadays, but it is still very profitable with the right strategies in place, if you can build unique stays, aka Airbnbs that are way different than all the other competition, then well, you’re not competing with other people.

Your Airbnb’s not considered a commodity, and you can still charge a good amount of money per night. Now, the first thing that I would do is I’d learn about Airbnb arbitrage gathered maybe five to $10,000 for the startup. And then go find landlords that are leasing out properties and try to convince them to allow you to rent out their properties on short-term rental websites.

After that, you’ll sign the lease, you’ll get all the furniture, and then you’ll start building out your processes to make this a more passive business with the right team and cleaners in place. A lot of this can be automated and you don’t need to do any of it. Keep repeating this with more and more properties, and this can easily replace your nine-to-five income Overall. This is a pretty cool type of business, but I will say it is a bit riskier than a lot of the other ideas on this list.

Passive Income Ideas Number Five: Translation Agency

The following passive income idea we’re talking about today is a translation agency. I like this because this is more of a service-based business, meaning you don’t have super high startup costs and you can do this from wherever you want, meaning you have time freedom and location freedom.

I think that. So much opportunity right now to translate social media into different languages. This includes both voiceovers as well as doing subtitles. If I were to do a translation agency right now, this is exactly what I would do. I would reach out to different entrepreneurs and content creators and offer to translate their content into different languages.

This way they can create new channels with different. And reach entirely different populations of people, especially with faceless channels. You know, you’re not talking to the camera, it’s all voiceover. So this is the perfect type of channel for a translation agency. All you have to do is find these channels, reach out to them, and then redo the voiceovers on all of their videos.

These creators make a lot of money, and they’re gonna be willing to spend money. Now the reason why this is passive is that if you build out the right team of VAs and translators, a lot of the stuff can be automated. As long as you have the right people translating, researching, and coordinating with clients, then a lot of the busy work is going to be taken care of for you.

If you don’t wanna get into the content creation space, you can go to the most traditional route where you hire freelancers that are specialized in different fields and then reach out to different businesses in those respective. I do think though, that there’s so much potential with social media and if you have access to people that know different languages, this is gonna be an absolute game-changing business idea.

Passive Income Ideas Number Six: Investing in Dividend Stocks

Our next passive income idea is going to be investing in dividend stocks, of course, this is not gonna be the highest returning passive income idea on this list, but in the long run, it can be super lucrative if you take advantage of compound interest. The average dividend yield on the s and p 500 index companies is between two to five.

Meaning if you invest $10,000, you’d be making anywhere between 200 to $500 per year in dividend income, not to mention any possible capital appreciation. When you take Diven’s income, capital appreciation, and reinvesting into account, the power of compound interest starts to show invest as early as possible, because in the span of 60 years, investing one year earlier can make a huge difference in the amount of money.

Let’s say you build up a dividend portfolio of 1 million invested, and the average dividend in your portfolio is, let’s say 4%. This means you get $40,000 per year in completely passive income from dividends that you guys are enough to live off of in many different countries. Even if you don’t have a million dollars fine.

A lot of people utilize dividend stocks as a way to diversify their portfolios. Especially right now during the recession, a lot of people are choosing dividend stocks because they’re a little bit safer and more consistent with their income. Of course, if you don’t need that cash flow, you can just invest in s and p 500 index funds, which average about eight to 10% per year.

Passive Income Ideas Number Seven: Instagram Page

So, the next passive income idea is Craig, an Instagram page that is super niche. For example, a page that only posts entrepreneurship quotes. Instagram is one of the fastest-growing platforms with a consistent level of interest online for the past five years.

There is a lot of money in Instagram I know because I have friends that run Instagram pages and they make a killing. Yeah, you can build out automation and processes, which makes this a more passive income. For example, this is a very popular Instagram page called Passionate Income. They have a million followers and they post a lot of, you know, content about entrepreneurship.

They put out multiple posts per day, and if you guys take a look at some of their content, you guys can see, for example, this one, I’m almost a hundred percent sure that this is sponsored, and this person likely paid this page between, let’s say three to maybe six or $7,000 for this post.

Basically what they do is the mix. Sponsored posts with more, you know, means and stuff like that where they’re not making money. But yeah, as long as you have a big following count, you can charge a lot of money, especially if you are in, uh, niches such as entrepreneurship. Here’s another page called Mindset Therapy.

They have 5.5 million followers. And yeah, as you guys look through the posts, you guys can see so many of these posts are extremely outsourceable. For example, this one is very, very easy for you to hire people to. For you and write it out. And then you can see these sponsored posts are ones like this.

In this case, a person named Stephanie, you know, pays them to post her stuff on here with the call to action being, you know, her Instagram page right here. And yes, she’s selling some type of product. And I guarantee you guys, these people can pay a lot of money to have their posts on your page. I recommend starting with finding memes for different industries and niches.

Posting those and then starting to build an audience that way. What we can do is hire people to find material to post, and even people to write these captions for you. Then you can have a VA run the Instagram page and post all these things, and yeah, it can be extremely passive.

Attention on Instagram is extremely valuable, so if you can capture an audience’s attention, companies that align with your niche will want to pay a lot of money to put their product in front. If you don’t wanna do that, you can monetize by selling your products, like courses or whatever else.

Yeah, you can make a lot of money and the best thing is you guys can do this from wherever you want.

Passive Income Ideas Number Eight: YouTube Shorts Channel

Next up is creating an automated YouTube shorts channel. So YouTube shorts hit 30 billion views per day earlier this year. And it’s only going to continue growing as short-form content becomes more and more popular.

There’s so much potential to make money with YouTube shorts, with YouTube just announcing ad revenue for YouTube shorts in 2023 to apply and be accepted. You just need a thousand subscribers and 10 million shorts views over the last 90 days. Now with these YouTube short channels, there are tons of different short styles that you guys can do.

You can go the aesthetic route, you guys can do tech and gadget reviews. You can do daily life mini vlogs. You can do talking head videos, you can do interviews. All you need is a phone and cap cut, or you can go the more faceless route, which is, you know, much more passive by hiring out scriptwriters researchers, VAs, as well as editors to edit the video.

A YouTube shorts channel is sort of like Instagram, meaning if you can get a lot of people to subscribe in a certain niche, companies are gonna be willing to pay you a lot of money to post their stuff on your channel. Shorts can also help you grow on long-form platforms and yeah, one big reason why I love YouTube shorts is that if you already make TOS and Instagram reels, you guys can just repost those onto you.

The more you repurpose you guys, the better it is because the better ROI you’re getting for your time. A lot of really successful people understand the concept of social equity, meaning if you guys can build up Instagram accounts, YouTube shorts, accounts, whatever platform it is, there is so much opportunity to monetize over the next decade, especially if you were looking for more passive income sources overall. A fantastic way to make passive income once done right.

Passive Income Ideas Number Nine: Buying IBANs

Your next idea is going to be buying IBANs. This one gonna be super short. Pretty simple, but with interest rates being so high right now, the US Treasury has these series I savings bonds that currently yield 6.89% to a P Y. These are on bonds that are sold between November 2022 and April 2022.


After that, the A P Y will change depending on how interest rates go. Yeah, this is a guaranteed way to make 6.89% of your money for the next. I will say that the max you guys can invest is $10,000 in this, and if you wanna learn more about it, I have a full tutorial on this YouTube channel.


We’ll be linking that down below if you do wanna check it out. Yeah, super, super passive. All you have to do is buy the I Bonds and yeah, that makes it one of the most passive income ideas on this list. And finally, our last passive income idea, which doesn’t count, is why it’s called 9.5 Passive income ideas, not 10.

Yeah. This is having a high a p y savings account. Stats show that only 21% of adults with banks have a high-yield savings account, meaning the rest are losing out on a ton of money. Yes, this is not much. When you take into account the current inflation at about 7.7%, it’s still better than having it in the average savings account, which pays zero.

That’s still better than having it in the average savings account. Right now, the national average, a p y on savings accounts is just 0.21%, meaning if you kept $10,000 in the bank for one year, you’d end up making just $21 and 2 cents. Most online banks right now have great rates between two to 3% or more, and even some business bank accounts have high a p y interest rates.

Overall, this is just a way to, you know, make a little bit more from your money instead of having to lose a ton of value through inflation. It’s really just a baseline, and if you do have a considerable amount of money in your bank, but it’s not making any money, then I highly recommend looking into some high-interest savings accounts.

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Conclusion:

Anyways, that’s my list of passive income ideas that you guys can start today. I’m super passionate about this topic because passive income has completely changed my life. It allows me to live the life that I want and disconnects making. From my own time. Everyone reading this article deserves to make passive income, and I just wanna leave you guys with the message that there are so many cool ways you can generate passive income today.

The internet makes all this possible, and the biggest step that you guys can take is just to start today.
Anyways, I hope this article inspired you to start building your passive income streams.

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