If you do not have money, this method is not for you. Nevertheless, you can still build a passive income if you have the knowledge and skills to create your own products or services, for instance a blog, an ebook, a digital art, etc.
You are right, if you do not have enough capital it is quite unthinkable to invest the real state market for example, but I think that the stock market is not so unthinkable, for example in the stock market of my country there are companies trading at $ 4 that offer dividends of 8% every 6 months if I am not mistaken, so you can access them, but you are right that the less expensive would be to open your YouTube channel, blog or others to generate returns.
Yeah, if you want to generate passive income it is either you have skills or you have money. Having the both of them is also very important to make a lot of money from passive income.
Speaking of blogging, I am not that successful with this idea. I know that I am good at writing. That is why I wanted to explore this skill and earn at the same time.
Real estate costs a lot of money to get started, that is why majority of people do not make money from real estate investment. I think trucking business is also another good passive income source.
Just because you are a good writer does not mean you can become a successful blogger. In order to excel with blogging, you also need SEO, Digital Marketing, as well as Web designing skills.
I do agree with you. I am not that familiar with the SEO. Would you like to share some links to learn this matter? I want to know more about it if you can share some of the ideas. Thanks in advance.
If you have good contents to give then you can prioritise YouTube. I know many people who are very active on YouTube and makes good amount of money. My mentor monetized a YouTube channel within six weeks.
I will join you with this matter. I also do have some extra money by writing online and do other things virtually. I felt bad that some people cannot see the beauty of doing these things online.
