Residual income home business plainly stated is a business that you run from home that will not only give you an income today, but will keep paying you in the future for your efforts today. It combines the advantages of working from home with those of residual or passive income, making it a very desirable venture. It is also a good way to work smarter, not harder. Opportunities exist in different types of home businesses that have the potential to earn you residual income. I will discuss a few of them here:
Rental industry: Rental property is a very old and time tested type of reliable residual income home business. This includes purchasing land and leasing it out but maintaining ownership, purchasing or constructing buildings and renting or leasing them out, or buying certain types of machinery that others need but cannot afford to buy and leasing them out. In the first two examples, the property does not only pay you today, but with very little maintenance will pay you for the rest of your life as well as your family. Machinery will give you a residual income, but requires more maintenance and has a shorter lifespan than land or buildings. One disadvantage that all three examples of rental businesses have is that they require a substantial initial capital.
Stock Market Investment: Another example of a residual income home business is investing in stocks and securities. You can either use a stockbroker to deal your stocks for you, or you can do it yourself at home online. Unlike the income from rental properties, income from investment in stocks and securities is usually variable. This is because the value of stocks and securities is heavily pegged to the state of the economy making it unreliable and risky.
Network marketing: Also known as multi level marketing, network marketing is perhaps the most well known type of residual income home business. With network marketing, you do not just get paid for the sales you make, but also for those made by your down-line's future sales. Depending on the type of product or service you market, you could continue to be paid for repeat purchases by your customers and those of your down-line.
It is interesting to note how tightly we cling to our jobs, especially in these uncertain economic times. Why do we insist on holding on to the job, when we know very well that we only get paid for hours worked and when we don't work we don't get paid? If you had a choice, wouldn't you opt for a residual income home business that will keep paying you for a job you only do once with the added advantage of doing it from home?
