When it comes to accruing wealth, one can never underestimate the power of having a constant income stream. If you have an investment that generates money without requiring your attention, you can capital, invest it, make more capital, and then invest that capital again all while working on other projects or pursuing unrelated ventures.
What does it mean to have a constant income stream? First let us establish what it does not include. A constant income stream does not include stock investments; those only provide you capital once you choose to sell. It also does not include people who get a yearly paid vacation, and thus are technically still making money as they sit on the beach. No, the person who can constantly have money added to his bank account â€“ even if he is thousands of miles away â€“ is one who pursues a certain type of investment. It is the person who can go on a vacation to a warm Caribbean island, sit on the beach while sipping pina coladas, and still be growing their bank account while doing so.
So what are some investments of this sort? Specifically, where should someone with a decent yet unspectacular amount of capital invest if they want to insure a regular income stream? Here are a few of the best options:
Minimal Capital Required: Vending Machines and ATMs
Yes, the vending machines you see in public places, schools, and office buildings are often owned by an outside investor. This investor provides the capital and then receives any surplus income once supplies, maintenance, and institutional fees have been paid. It is a great starting point for those with more limited amounts to invest. If you are interested, checking out a website such as www.1800Vending.com provides a great place to start. Owning an ATM is another possibility that works on a similar level.
Maximum Capital Required: Commercial Properties
Those with slightly more capital can be landlords on a larger level. Certainly, this could entail buying and renting out apartment complexes, but being an apartment landlord usually involves higher turnover rates, more difficult tenants, and dealing with kitchen and bathroom items that regularly need maintenance. In short, owning a residential property may not afford you the ability to earn money regularly with a minimal time investment. Owning and operating a strip mall or other commercial parcel, on the other hand, can be incredibly easy and profitable.
Moderate Capital Required: Boat Slips
Letâ€™s say that you want an investment more profitable than a vending machine, but less expensive than a commercial property. Certainly, there are many opportunities that fall into this range. But weâ€™re going to focus on one that is often reliable and hassle free: owning and renting out a boat slip in a river or harbor. People who own boats usually have money, but due to high demand many of them donâ€™t own a place to dock their boats. As a result they rent out a space for their boat and pay the owner a regular rental fee. This demographic can be counted on to pay without problem and to accept higher rates and fees. Even if you donâ€™t live near a body of water, you can still do some research and invest in a boat slip in a place that is.
There are certainly countless more ways to make money consistently, do so on the side, and put in minimal work in the process. These three are some of the best options at their respective capital levels. Next time you want to be able to grow your bank account while sitting on the beach, you may want to explore making one of the above investments.