As inflation continues to skyrocket, more people are looking for ways to make extra income. But with only so much time to go around, there isn’t a lot of time left over from your nine to five that you can use to build your side hustle.

That’s why many people have turned to various methods of passive income. Read on for our top ideas for passive income, as well as some important information to help you get started.

The business passive income ideas worth considering in 2023.
Making money while sleeping is the ultimate win for any hands-off investor or business owner. Wanting to boost your business’s income without having to put in hours of extra labor is no longer considered a pipe dream once you are earning passive income.

High-yield savings accounts with attractive interest rates are suitable for retirement. Getting a cashback credit card can be a low-risk bonus for your short-term financial goals, but it won’t have the payouts of real passive income. Investment opportunities in cryptocurrency or alternative markets may bring significant returns but incur a lot of risks.

Here’es reliable passive income business ideas for you in 2023.

Real estate and property rentals.

Owning real estate is one of the most traditional and guaranteed ways to generate passive income. There are two ways you can approach this: commercial rentals or residential rentals.

Commercial rental properties are rented primarily to businesses, which means there is typically less tenant turnover. Additionally, commercial renting comes with special lease considerations and tax advantages that aren’t always available for residential properties.

Meanwhile, residential rental properties are rented primarily to families or individuals. Residential renting is popular because of its greater flexibility and potential for greater passive income.

Due to the high upfront investment, it is not as easy as just buying a house or land and isn’t an accessible option for most people. But, if you have the cash on hand, it is a tried and true way to earn passive income.

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