Bank savings is good but investing your savings into things that help you generate residual income is better than leaving your money piled up in your bank account. I would like to share with you 5 profitable ways to INVEST your money and increase your earning.
1. Invest in Events Rental Properties.
Bringing this down to our locality. There are several rental properties that you can finance to generate residual income, one is EVENT PROPERTIES. It, not a false statement to say that events like wedding, Birthday parties, Aniversary celebration happens all the time around us, during which celebrants pay money to rent out things like Reception hall, canopies, chair & tables and even musical instrument. Why not seize this opportunity and put your cash into event properties and start earning the dividends thereof.
2. Invest in real estate like student hostels, Corper’s lodge.
It is not a fallacy to say that not all student loves to live in the school hostel, many rather prefer to live off-campus. You as an investor can use this opportunity and build student hostels or lodges, this is very lucrative in areas with schools that have high populations. The same applies to Corper’s lodge. Not all corp members like to stay in a place provided by the government. Many due to their business may decide to live in a place that will be comfortable for them especially if there is no electricity. Housing for rent is also included here. You can choose to build and sell it or rent it out.
3. Crowdfunding Real Estate properties.
Your cash may be enough to build a house or buy but there are people with a like mind to do that, you can partner with them for a start.
4. Buy and lease (farmland) or resell the land.
Time changes, things changes with time as well. A plot of land bought for one million today may be sold for two million tomorrow, you can also lease your land for agricultural purposes for some time and reclaim it after the expiration of the lease.
5. Money lending (Peer to Peer).
In a simple explanation to this, you can become an investor and act as a bank to people by providing money to customers and in return, they pay interest for the money you lend them.
There are others like Stocks and certificate bonds which are also investments that you can earn from. Remember, it is unwise to extravagantly spend everything we got in a month, especially for salary earners. It is also good to always save for the rainy day in case of unforeseen circumstances. But sometimes bank interest is not using high and that is why I recommend that you chose any of the things listed above and get started.