Passive Income & Ways to Generate It Without Lifting a Finger…Well Maybe One Finger.
According to Nerd Wallet passive income is money generated from investments, properties, or “side hustles.” Unlike active income, such as cash earned from working at a job or as a contractor—passive income is a cash stream which requires little or no daily effort to maintain. Passive income can help you offset costs, pay down debt, or work like a safety net should you become suddenly unemployed.
Bankrate suggests rental income as a great way to build passive income. Rentals can provide a reliable source of cash if they are in a healthy market for renters, but they can carry long-term stressors like maintenance and upkeep, multiple-mortgage liabilities, property tax bills, and other costs.
If you are new in the game, it is best to start small, by listing a small piece of property like a dock, to begin to bankroll your rental property empire. Focus on short-term rentals through a platform like Dockshare, which will allow for promotion to a steady flow of visitors to your area seasonally or year-round.
Another source of passive income is content generation to help influence the growth of a brand. For most brands, generating and compiling content that is engaging and reaches a large enough portion of the right audience can be a lot of work. Influencers can generate income simply by sharing a story about a brand, engaging others to become loyalists, and generating new customers, with or without owning property. Influencers for a brand like Dockshare, probably spend a lot of time on the water. Dockshare influencers post and blog about boating, fishing, water recreation, and of course, the best place to tie off.
Whichever category you may fit you, Dockshare has a way for you to earn passive income on the water; and, have fun being a part of a boating community with other water enthusiasts. As our mission states, “We want to bring people together.” We’re working to make the boating community more accessible to everyone because we believe the waterfront is meant to be enjoyed by all. It is our hope that you will join us, our platform, and our community.