Semi-Passive Income Ideas
A lot of people are obviously undersaved for retirement. This list is possible self serve businesses that require very little work so essentially passive income. These ideas are not riskless by any means but having $200,000 to $300,000 saved probably requires figuring something else out.
1. Automated car wash
The catalyst for this list is an article at Benzinga about a 22 year old woman who bought a car wash for $140,000 and is clearing $5500/mo. There's not no work but she says very little.
2. Vending machines
You'd probably need to hire someone to stock and repair the machines if you don't want to do it yourself.
Similar to number 2, someone would need to be available to oversee repairs and keep items stocked like soap or dryer sheets if that is typical of laundromats these days.
4. Storage Units
Maybe a bigger initial investment up front, storage facilities are obviously proliferating and have been for many years. There are security concerns to address and maintain but the cashflow is frequently substantial.
5. Parking kiosks
We encountered this on our recent trip to Iceland. There were a lot of places where we had to pay for parking. You either pay at the kiosk in the parking lot or you scan the QR code for the app to pay through your phone but either way you pay a private party. Obviously they then have to pay someone but it must be profitable otherwise, why do it?
6. Cell phone tower?
I found this one on the internet. You'd need vacant land that was preferable for a tower and then a way to contact the right people but the article I read said this could generate $45,000/yr.
7. ATM machines
Some are private, not connected to a bank and the fees are very high. There'd be a lot of set up work and work to place it but then once in place there would just be the matter of keeping it stocked with notes.
I've heard this word before. As best as I can tell, it's when you sell things online like through Amazon and outsource the fulfillment of orders. Less profit but also less labor which might be worth it. Even if dropshipping is something else, what I am describing is a thing.
9. Property rental
Where the management is outsourced. Like number 8, less profit but less labor.
Buy a two family house, live in one side and rent out the other. The numbers to look for would be that the rent covers the mortgage to start and then as the rent charges goes up and the mortgage is eventually paid off, the rental income covers a growing portion of expenses. The risk is at times the rental portion will be unoccupied.