Over the pass couple of weeks, we have been talking about making money while you sleep. You have learned about different ways to do just that: real estate, books, and online products. If you have missed those blog posts, I encourage you to go back and read that information. There are tons of ways to get passive income, but this week I will share about vending machines and storage units. Storage units and vending machines take minimum maintenance but the flow of revenue from them can be extraordinary.

Owning a storage unit business is similar to owning rental properties, BUT without the headache of unclogging toilets, spraying for rodents, or replacing appliances. The initial investment on the building and land can also be lower than what is needed for rental properties; in additional to the minimum maintenance. The units usually rent for $100 and up, depending on the unit size. Another great factor is that often times, the longevity of the contracts on the units are long term. Just imagine how much you could make with 50 storage spaces at $100 a month. To “evict” a tenant is also an easier process than with rental property. As a bonus, the property of your storage unit business may come with extra space. How much more money could you make on the same property if you added parking for RVs and boats or even a U-Haul truck rental option.

Vending machines are low maintenance, as well. Depending on your location and the type of products that you are selling, your profit to investment ratio can be extremely high. Do you feel like you are too busy to run the week-to-week of inventory management for the vending machines? I mean we are talking about passive income. There is a simple solution for that. Hire someone to load and unload the vending machines. Now think back a second to the storage unit business, you can hire someone to run the office for day-to-day client care. You may not get rich off of vending machines, but it is a great source of passive income. Just like other forms of passive income, you will have to put the time and money up front, however the money you will make over time adds up to repay your investment and turn a profit for your business.