Everyone has an artistic flair, some people simply embrace it more than others. One of the biggest problems people face is that it takes time to cultivate your talent and become the artist you want to be.
That’s time which can often be difficult to spare as you, like everyone else, have bills to pay. That’s why so many budding artists and visionaries never achieve their full potential.
Of course, when they do, some truly remarkable feats are achieved, such as the ability to create the best new building worldwide.
To achieve these feats you need to start at the bottom of your chosen career, such as architecture, and spend years working your way up. The alternative for true artists is to devote as much time as possible to their art. This approach generally means finding alternate ways to make an income. Fortunately, modern society has made it easier than ever to create a passive income stream.
It’s time you learned how to generate a passive income and free yourself up to follow your dreams.
Real Estate Investment
We’ll start big because that’s what gives the best rewards. Historically, real estate has always been a good investment. Provided you’re prepared to take a long-term view, property almost always goes up in value, the latest figures from Statista back up this fact. In other words, wait long enough and you’re property will be worth more than you paid for it.
That’s not going to get you a good passive income now. Commercial properties can be rented to businesses. While retail and office space is currently in decline, medical, educational, and other industries are desperate for more commercial space. Renting to these types of businesses gives you a secure income which, after covering the lending fees, will allow you to focus on what’s important, your art.
It’s also possible to purchase blocks of apartments and rent these out.
The trick when looking for commercial property for sale is to look everywhere. You don’t need to live in Toronto, or even Canada to buy a commercial property there. Keeping your options open means you can find a commercial property for a good price in a great location.
Once you’ve secured the funds and found tenants, there is very little else for you to do except collect the rent.
Of course, you can try similar with residential properties but the returns are usually significantly lower.
Freelancing
This is a popular way to get started. You simply head online and offer your talents to others for a price. It allows you to work in fields close to the ones you’re interested in and improve your talents.
The advantage of freelancing is that you can start life as a digital nomad. You’ll be earning while finding inspiration for your art across the globe.
Of course, this isn’t a passive income as you’ll be working for everything you earn.
To turn your freelancing career into a passive income you’ll need to find work and pass it on to others, effectively becoming a middle person. It will never be completely passive but will free most of your time.
Sell Prints Online
As a budding artist, nothing feels better than actually selling some of your work. The good news is you don’t need to be an internationally recognized name to start selling. There are plenty of sites that allow you to upload photos and pictures.
Potential customers will look at your offerings and can buy and download the images. The great thing is, that you only need to create the image once. It can be sold multiple times.
It’s also possible to do the same with e-books and courses. Your time is required to create the product, after that, you’re earning income for nothing.
Follow Yourself
In recent years there has been a massive increase in travel bloggers. That’s people traveling the world and blogging about it as they go.
You can do the same as a budding artist. Launch a social media channel, post your work and talk about what you’re doing. The more followers you get the easier it will be to generate income from the social media channels.
It will also give you exposure which can help your artistic creations gain traction.
This can even help you undertake some affiliate marketing without needing to create your own website.
Summing Up
You’ll find hundreds of ideas for passive income and side hustles online. However, while many are feasible, you should focus on ideas that match your field of interest. This will help you get established and ensure you’re enjoying creating a passive income.
The more ambitious you are, the greater the rewards are likely to be. If you’re creating passive income simply to gain your artistic freedom, it’s a good idea to think big!
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