Why pay for them twice? Of course, that does mean you have to choose things that will be easy to manage, or that you can get someone else to manage for you. For the low-down on this, read the post below.
Holiday Rental Property
The market for short-term holiday rentals is booming in popular cities in coastal locations due to sites like Airbnb and B. Therefore it makes sense that a lot of people are drawn to investing in these sorts of properties. After all, they only need maintaining in peak holiday periods, don’t they? Well, unfortunately, it’s not as simple as that as it only works if you choose to buy a property in a true seasonal vacation area like the coast or in a ski resort. As if you want to make real money on a city property you need it to available throughout the year. This means regular cleaning and changing the beds, as well as welcoming guests to hand over the keys. Something that isn’t exactly low on the time-consuming scale.
Luckily, there are firms like Acara Property Management that will do this all for you. They will even do the admin work of communicating with guests through the site for you. Making it an investment that is truly low time on time, but has the potential for high profits.
Managed Stock Portfolios
Another option for those that want to make money without spending too much of their time wrapped up in their investments is to get a managed stock portfolio. This is where you entrust your investment to a financial specialist, and they watch the market and invest in things that will be profitable for you.
It takes the hassle out of having to be a stock and shares expert, but still allows you some control over where your money is going. As you can choose to pick high, low, or medium risk areas in which to get your stock broker to invest.
Of course, you need to be aware that just because the experts are doing it for you, it doesn’t guarantee you a profitable return. As the market can go down as well as up. But as long as you are prepared for this, it is a great way of making your finances work harder for you with the minimum of effort.
Lastly, a great way of making some money without having to dedicate yourself to a new venture is to invest in someone else businesses. Start-ups and even more established companies are always looking for funding from investors to enable them to launch or grow their brand. You can provide this to them for a share of their stock, something that could become very valuable if they are successful.
Of course, it’s time minimal too because the directors still have control of over the decision-making process. Although they will keep you informed of what they are doing, so you can’t sit back, while they spend their time and effort and still collect in the long-term.