The importance of having a passive income cannot be overemphasized. A good number of users here on the block chain joined because they wanted to have something that will generate passive income for them.
It is quite difficult to gain financial freedom with one source of income. Especially in a country Like mine where the minimum wage is just something that cannot even feed a family of 3 for a whole month.
These days people have become more aware on the benefits of having many streams of income, thus the reason why they try as much as they can to look for jobs that will help them earn passively.
In this article, I will share a very trusted passive income idea that can help one generate wealth to gain financial freedom. However note that this is not a financial advice and you should do your personal research or consult your financial adviser before delving into any business of any kind.
Have you heard of rental income?.
I have a set of big pots that I rent out every time to people. In fact I can't remember when last those set of pots stayed in my house for a full month. People come to rent it to cook for events. While they rent, I get my money which I use to solve my financial needs.
Over time I have come to understand that having rental assets is one of the best ways to secure your financial freedom.
Look at house owners who rent their apartments. You will find out that they just sit and relax while people give them money.
It is also important to note that one needs to look around their environment and study it first before delving into any kind of rentable assets. Because there are some assets that won't even move in the market.
Some Rentable assets ideas
Real estate
You can never go wrong with acquiring a property. People must have a roof over their heads. So you are certain that your property will be rented out and bring money for you in return.
Vehicles
Vehicles are rentable assets too. There are people who rent cars for their weddings, movie production or even hire them for a long period of time too. You can rent your car to hailing companies to use as a means of transportation too.
Equipments
There are so many rental equipments. I know someone who built a duplex from renting canopies. You may say "ordinary canopy" but every weekend people are getting married and needs a little covering over their heads too.
There are so many occasions here and there where people needs to rent some equipments such as chairs, tables, cooking equipments and so on.
All you need to do is just look for people who rent stuff and collaborate with them. You tell them how much you will charge for your equipments and they do the job of looking for people who need those services.
At the end of the day you will just find out that you didn't even stress yourself that much but you are balling every now and then. My pastor will always say that there is money everywhere. You just have to sit and think and look for a solution to people's problems.
Thank you for reading