There are several ways to start building passive income. You could do it on the internet for example. Or, build passive income through stocks. Or even build passive income through real estate investments. Other additional ways to build passive income include owning intellectual property, maybe even direct selling, and franchising.
Let's start with the internet. I heard that the best way to get starting in building passive income on the internet is through Infobarrel.com(the site you're on right now). It allows you to get a sense of what works and what doesn't work on the net when it comes to building passive income. Other ideas include creating adsense niche sites, marketing recurring income products as an affiliate, and just basically building a website once and letting it earn you money for years to come.
Next, let's cover building passive income through stocks. This is a viable option and it's made possible because of dividend paying stocks. The only problem with this approach to building passive income is that it requires a lot of up front money in order to make any real money.
Third, real estate can be used to generate passive income through the principle of cash flowing properties. Here's how it works. You buy a property with a mortgage loan. Let's say your mortgage payment is $2000/month. You get someone to rent the place from you and charge them $2500 a month. The net result is that this property has a positive cash flow of 500$/month.
Building passive income through intellectual property is one of my personal favorites because it's amazing how powerful this can be. For example, let's say you write a book and get it published. Anytime your book gets sold to someone, you make a little money. If you wrote a song: anytime your song gets played, you make some money. Same thing with inventions or any other kind of intellectual property.
Network marketing can be used to build passive income too if done right. All that is required is that you get enough paying clients buying your products month after month(you only have to get them hooked to your products once). And additionally, you have to get a lot of people join your direct selling opportunity below you.
Franchising works as a way to build passive income because you can basically build the business yourself and once it's making enough money, you can hire a trustworthy manager to ensure the proper functioning of the business while you collect the checks.
As you can see, there are a lot of ways of creating passive income and I highly recommend you pick one and get started today.