Looking for some interesting passive income ideas in Kenya? Then this page is for you.
Everyone can create passive income, but not everyone knows how. For example, you may have a job that pays your bills, but it probably doesn’t leave you with a lot of excess cash after expenses.
If you want to get a leg up on other people in your financial position and start building real wealth, you need to find ways to earn money without wasting as much time or energy as usual.
Passive income gives you an advantage over other people because it allows you to make money even when you aren’t working. It might seem a challenge initially, but there are many ways for anyone to get started with passive income.
This article will give you ten passive income ideas in Kenya and start your journey towards financial freedom sooner rather than later.
Sell digital products
Selling digital products can be a cool way to make passive income, but you must have the right skills and products to sell.
Before you can start selling digital products, you have to have a product to sell. You can write a book, create an online course, or create other types of digital products.
The most important thing here is finding a product that people are interested in and will still be interested in months or years from now.
There is a lot of competition in the digital product space, so you want to make sure that your product stands out and is useful to your customers for a long time.
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Invest in real estate
Our list of passive income ideas in Kenya will not be complete if we don’t add real estate investment.
You can use some of your income to invest in real estate and, over time, earn a large return on your investment.
Ways to make income in real estate include purchasing a rental property or getting involved in a crowdfunding real estate project. When you invest in real estate, you must plan to hold the property for a long time.
Real estate will pay off in the long run. Make sure that any real estate investment you choose is in a location with a good long-term potential to maximize your return.
Real estate is great long-term investment, but it’s important to ensure you get a good deal on the property. Research the real estate market that you have access to and look for properties significantly below their market value.
Those are good deals and might be great investments if they have good long-term potential.
Create an app
Creating an app is another passive income idea in Kenya. You can create an app in almost any industry, and you’ll want to make it something that has a broad appeal so that many people use it.
The key to success here is ensuring you have the skills necessary to create a high-quality app. If you don’t have any programming experience, you can partner with someone who does and take a share of the earnings from the app.
There are plenty of freelance platforms where you can connect with app developers. You can also find detailed guides that will walk you through the steps of creating your app if you want to try this out on your own.
It may take some time to build up the skills you need, but this is a very lucrative business model if you can pull it off.
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Sell Stock Photos
Selling stock photos is another great passive income idea in Kenya to make money online. Multiple online sites will allow you to upload your photos and sell them for other people to use.
You’ll want to make sure that you have a lot of high-quality photos that are in different categories so that you can appeal to as many customers as possible.
The more photos you have, the more money you can make.
Partner up with a company
Another interesting passive income idea in Kenya is to partner up with a company that offers profit sharing. To do that, you need to find a company you are interested in and meet with their representatives.
You can look for different companies, such as investment or hedge funds. Usually, these companies have a pool of money they invest in various assets, such as real estate, stocks, and commodities.
They also partner with other companies that require funding for a big project. You can get a share of their profits by investing in these companies.
Remember that profit sharing might not be as stable as other passive income sources.
Create a game
Creating a game is very time-consuming, but if you create a game that becomes wildly popular, you can earn a lot of money. If you have the skills to create a game, you can use that to make passive income.
You can create any type of game, but it’s best to go with a genre that makes you stand out.
Help others invest passively too.
If you have experience working with investments, you may be able to help others invest their money and earn a percentage of their investment.
For example, you could partner with an investment broker and provide investment advice to your clients. You’ll probably need a special license to do this, but it’s a great way to make passive income as a financial advisor.
Find out what investments your clients are interested in and help them make wise choices with the money they’re investing.
You can advise on stocks, mutual funds, ETFs, or other types of investments.
As a financial advisor, you can advice people of all ages and incomes level the playing field and start investing for their future.
Earn interest on your savings
If you have the extra money in your savings account, you can earn interest on that money by depositing it in a certificate of deposit account.
You can open a certificate of deposit, or CD, with pretty much any bank, and it’s a great way to earn a little bit of extra interest on your savings.
CDs work in a few different ways, but they’re usually a good way to make a little bit extra without a lot of risks. You’ll usually have to commit to leaving the money in the account for a set period of time, such as six months or a year.
However, once the time is up, you get the money back with interest, and you can take it out and do it as you please.
CDs are usually available in longer timeframes, such as six months or one or five years. The higher rate of return you’ll get with time.
Blogging is another great passive income idea in Kenya. You don’t have to focus on topics that will make you lots of money with each post, but regular posts can bring in a steady stream of revenue over time.
If you want to make the most money from blogging, you’ll want to use a monetization strategy such as advertising or affiliate marketing.
You can also charge for premium content, but most people prefer free content, so that may not be the best way to earn money from your blog.
You can create a blog about almost anything, including hobbies, niche subjects, or current events. No matter what you write about, you’ll want to make sure that your blog posts are well-researched and contain accurate information so that you don’t lose the trust of your readers.
With YouTube, You’ll want to make sure that you have a consistent schedule so that your viewers know when to expect new content.
You can create videos about anything, but it’s best to go with something that has a longer shelf life than topical content. For example, you could make cooking videos or DIY home improvement videos that will still be relevant years from now.
You can also use YouTube’s partner program to make money from your videos. The partner program allows YouTube content creators to make money with advertisements, and you can sign up for the program to start earning money from your videos.
Summary passive income ideas in kenya
Making passive income can be a great way to earn money without having to work as hard. The key to success when it comes to making passive income is finding a source that you can consistently make money from.
This can be a challenge when starting out, but there are lots of ways to make money passively. Before you are able to make passive income, you have to find a way to make money that doesn’t require a large amount of time or energy.
Once you have a source of income, you can put that money into a savings account or other investment so that it grows over time.
Making passive income is a great way to get ahead and build wealth.