20 Unconventional Passive Income Ideas!

In this episode of the Personal Finance Podcast, we're going to talk about the 20 unconventional passive income ideas. How Andrew Can Help You: Don't let another year pass by without making significant strides toward your dreams. "Master Your Money Goals" is your pathway to a future where your aspirations are not just wishes but realities. Enroll now and make this year count! Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or less per week Here! Learn to invest by joining Index Fund Pro! This is Andrew’s course teaching you how to invest! Watch The Master Money Youtube Channel! , Ask Andrew a question on Instagram or TikTok. Learn how to get out of Debt by joining our Free Course Leave Feedback or Episode Requests here. Thanks to Our Amazing Sponsors for supporting The Personal Finance Podcast. Shopify: Shopify makes it so easy to sell. Sign up for a one-dollar-per-month trial period at shopify.com/pfp Chime: Start your credit journey with Chime. Sign-up takes only two minutes and doesn’t affect your credit score. Get started at chime.com/ Monarch Money: Get an extended 30 day free trial at monarchmoney.com/pfp Thanks to Fundrise for Sponsoring the show! Invest in real estate going to fundrise.com/pfp Indeed: Start hiring NOW with a SEVENTY-FIVE DOLLAR SPONSORED JOB CREDIT to upgrade your job post at Indeed.com/personalfinance Thanks to Policy Genius for Sponsoring the show! Go to policygenius.com to get your free life insurance quote. This show is sponsored by Better Help. Go to betterhelp.com/pfp and be on your way to your best self. Go to joindeleteme.com/pfp20 for 20% off! Links Mentioned in This Episode: From Police Officer to Multimillionaire investing in ATM’s (With Paul Alex) Relevant Episodes: How to Use Niche Sites to Build Multiple Streams of Income With Doug Cunnington 25+ Passive Income Ideas That Will Blow Your Mind - Part 1 25+ Passive Income Ideas That Will Blow Your Mind - Part 2 How to Find the Perfect Side-Hustle (Plus The 4 Types of Passive Income!) with Nick Loper Connect With Andrew on Social Media: Instagram TikTok Twitter Master Money Website Master Money Youtube Channel Free Guides: The Stairway to Wealth: The Order of Operations for your Money How to Negotiate Your Salary The 75 Day Money Challenge Get out Of Debt Fast Take the Money Personality Quiz Learn more about your ad choices. Visit megaphone.fm/adchoices

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Andrew Giancola?

  Longtime listeners know, one of the best ways to build wealth is to increase your income. And one way to do that is by starting a side hustle. And that's one reason why I absolutely love Whatnot. Now, my son and I, we love collecting sports cards. And we've used Whatnot to buy and sell cards. It's been a really fun way to enjoy something we love together. Now, Whatnot is a live shopping platform where people sell everything from sports cards to clothing, electronics, and collectibles. And what's really cool about it is you can turn something you're passionate about into a business. And you could do it right from your phone. You don't even need a storefront or a website. So whether you're looking to make some extra money or find great deals on your next shopping trip, check out Whatnot.

• 0:44Andrew Giancola?

  Search Whatnot, that's W H A T N O T, in the App Store. Download and start selling right away. When I started the Personal Finance Podcast, I had no idea how big it could become. I just knew I had something I wanted to share, so I started putting it online. And looking back, I definitely wish I would have started a decade earlier. One of the horror parts about building something online, though, is making it look professional. A website used to mean hiring a developer, figuring out design, and potentially spending thousands of dollars. In fact, on my website, I spent tens of thousands of dollars. That's what impressed me when playing around with Hostinger's AI website builder.

• 1:27Andrew Giancola?

  I told it what kind of website I wanted, and I built the first version in minutes. No coding, no designer or developer needed. And Hostinger doesn't stop at launch. Their AI can help with SEO, website copy, email marketing, and more. Plus, your domain, website, email, and marketing can all live in one account, with plans starting at just $3 every single month. Hostinger builds your vision step by step. Create your website today. Go to hostinger.com/pfp and use code PFP for 10% off now. On this episode of the Personal Finance Podcast, 20 unconventional passive income ideas.

• 2:24Andrew Giancola?

  What's up everybody and welcome to the personal finance podcast. I'm your host Andrew, founder of mastermoney.co. And today on the personal finance podcast, we're going to be diving into 20 unconventional passive income ideas. If you guys have any questions, make sure you hit us up on the master money newsletter by going to mastermoney.co/newsletter. You can send your question in there to any of those newsletter issues that come out every single week. And don't forget to follow us on YouTube, Spotify, Apple Podcasts, or whatever podcast player you love listening to this podcast on. And if you want to help out the show, consider leaving a

• 3:05Andrew Giancola?

  five star rating and review on Apple Podcasts, Spotify, or your favorite podcast player. Now today, what we're going to do is we're going to dive into 20 unconventional passive income ideas. Now, this episode is going to be an idea generating episode, meaning when we do these, a lot of times what I want to do is talk through all the possibilities that are out there so that you can start to get your mind going to see if there are some ways that you would be interested in making more money. And so with these passive income ideas, my goal with these is for you to not have to spend so much time working on these businesses. So a lot of these are businesses, but they're businesses you don't have to spend as much time as you normally would for maybe some of those side hustles that can turn into a full-time business that we talk about on a lot

• 3:50Andrew Giancola?

  of our other episodes. So this is going to be more so passive income where you set it up and you just have to maintain it every single month. And so if you're someone out there who is making sure that you're hitting your retirement goals and you have extra cash coming in, these are some great ideas that you can start to increase your income over time and start to build out wealth flywheels. And we have an episode coming out explaining wealth flywheels. But basically, what I want you to do is take additional cash flow from some of these businesses and start to invest it into either more of the same exact thing that you're doing that's working and/or other businesses. And there's a way to do this. We're all All of a sudden, your money is going to start to snowball and it's going to start to compound and it's going to start to grow over time and you will be able to build a tremendous amount

• 4:34Andrew Giancola?

  of wealth just by making some of these small decisions. So today, what we're going to do is I'm going to talk through first, each of these 20 passive income ideas, we're going to talk about how to start them. We're going to talk about how to market them. We're going to talk about how to grow them and what they actually are. And then if you guys have any questions or suggestions or anything that you want me to talk about on the show in terms of passive income ideas that you are doing and/or you know, side hustles that are working for you, let me know and we could talk about it on a future episode as well. So really, really pumped about this. I love doing these podcast episodes. I know you guys love them as well as looking for additional ways to make income and grow your income over time. So without further ado, let's get into it. All right. Number one is, and these are in no particular order, is ice machines. Now, ice

• 5:19Andrew Giancola?

  machines are something that have been around for a very long time. And if you don't know what they are, they are the ice machines that you put into the middle of a grocery store parking lot, or you try to find a gas station that will accept your ice machine and people go up to that ice machine and when they need ice, they can fill up their ice. And this is really good in high-traffic areas, but specifically, if you want to set up an ice machine business, this is something that can be pretty low cost to start and test out and see if it actually works. Now, there's two ways to do this. Number one is you can go to a bunch of different ice machine companies that are out there that manufacture the machines and they will help you through the process and you'll be able to, A, go through them to buy the machine. They will help you through finding

• 6:01Andrew Giancola?

  locations that you can put the ice machine. But then in addition, they're also just going to give you some of their business plans and ways that some of their other customers have been successful. Their entire goal is to make you successful because if they do, you will buy more ice machines from them. So they actually help you through that process. But a second way is to look for someone who already has existing ice machines that is willing to sell them. So for example, I just did a quick Google search recently, looking for these for sale. And you can find them on BizBuySell, but in addition, you can find them on places like Facebook Marketplace, for example, where people have these existing ice machines and They're willing to sell them because A they don't want to do the maintenance anymore, or B they're retiring. And so there's a number of different reasons why they may want to do it. You just want to make sure you get the financials and all those different things.

• 6:46Andrew Giancola?

  So the goal is pretty much most of your marketing and most of the money that you're going to make is all in the research and the buy process, meaning you're going to go out and buy the ice machine. And then where you put that ice machine in the specific location is really going to determine your success. So making sure that you put it in a location that makes a ton of sense is going to be really, really powerful. So what locations make sense? Well, A is blue collar neighborhoods, because a lot of blue collar workers need to get ice every single day before they go to work. And so these ice machines can do very well in blue collar neighborhoods. Also, beach towns are areas near a beach and/or camping grounds, areas near parks or camping, those types of things. So as long as you can find these high-traffic locations, if you can leverage some partnerships,

• 7:29Andrew Giancola?

  maybe with some of the landowners of where you're going to put some of these locations, or if you could put them in gas stations, or you can get chains of gas stations to actually accept you, that's a very big deal. And I think it can be very powerful for a lot of people. And then also, when you're marketing, make sure that you're using signage, Google Maps, all those different things to find your ice machine. So there's companies like Everest, there's companies like Kohler, there's a bunch out there that can help you through this process where you can buy these machines. And there's people making from $20,000 per year all the way up to $70,000 per year passively, just with frozen water. So ice machines are number one. Number two is one that I've been looking at a long time, and it's one that's become very, very popular. So this is starting to become a competitive market, but it is laundromats.

• 8:12Andrew Giancola?

  Now, laundromats are obviously somewhat passive, because they're usually coin-operated, or cash-operated, or some of them you could put credit card machines on there now. So you don't have to have someone in there at all times, unless you're operating like a wash, dry, and fold business, or something like that. And so laundromats are a very interesting business, because they can be passive, where you have to go in there every two or three days, collect the money, and make sure the machines are running properly. But outside of that, it is not a full-time job for one single laundromat to be in there. Now, if you start to own multiple laund- And you're going to a different laundromat every single day to collect the money and or making sure machines are operating properly.

• 8:52Andrew Giancola?

  That can't start to become a full-time job, but having one, maybe two laundromats is going to be something that you can do passively on the side. And not have to spend a ton of time on this. Now we had Cody Sanchez on this podcast and she talked through some of the laundromats that she had. And how to make a successful laundromat, but I really, really like the thought process of owning a laundromat. Now, one thing I love. Is that there are people now taking over laundromats that are maybe in lower income areas that have been run down for a very long period of time. They're purchasing those laundromats and upgrading them, making them much nicer. So that people can actually enjoy their time in the laundromats. Maybe you can do things like add TVs. Maybe you can just upgrade the paint and refresh it. And make it look nicer. Maybe you can have a little section with toys for kids as they're waiting for their parents to wash their clothes.

• 9:36Andrew Giancola?

  Lot of cool things that you can do inside of these to kind of make it branded and make it your own. And you can make it a really cool community thing. So I've seen some really, really interesting stuff. There's a lot of content out there on how to run, how to buy a laundromat. So. I think that's something if you're interested, you can do very well. Now, how much do these cost? They usually cost anywhere from one to five times revenue, depending on where they are. And it could be even higher in some locations. If you want to look for them, you go to biz buy sell and you can see them on there. There are other websites for laundromat specific businesses. But I think it's a very, very interesting passive income choice because you always got to wash your clothes. You're always going to need to wash your clothes. Obviously, again, blue collar neighborhoods are going to be more so where you want to have those.

• 10:16Andrew Giancola?

  Location is very important. You need a location where people don't have washing machines. Also cities, those things where you know, maybe they have small apartments or. Just don't have room for washers and dryers is another big option. Now, number three is one that I really like because it is a real estate play. In addition to a passive income play and is renting out farmland. Now you may be thinking to yourself, what am I going to go do? I'm going to go buy a bunch of farmland in the middle of Iowa. And I'm going to rent out that farmland to random farmers. No, that's not what I'm talking about in this situation. Renting out farmland is purchasing or leasing farmland in urban areas that have a high demand for local produce and or.

• 10:56Andrew Giancola?

  Partner with farmers or solar wind companies or a bunch of different things that you could do with this. Now, here's an example where I live in Tampa, there are areas in Tampa that are still rural, but they're in the middle of a city. And because of this, all the residents in that area are trying to protect this farmland. So one thing you can do is you could buy an acre, you could buy two acres, you could even buy a half acre. But you could buy some sort of acreage that makes sense and you got to run the numbers on this. You can partner with a local organic farmer, you can partner with, you know, solar companies. There's a lot of different things that you can do here to really make this interesting. And because farmland is a play where you have to pay cash for it. It is something where A, you could always get out by selling that farmland, especially in an urban area.

• 11:39Andrew Giancola?

  If you're in an okay location, B, you can keep the land for a longer period of time and let it appreciate. But C, making some cash flow on this farmland by leasing it out to someone else is going to be really, really powerful. You don't have to fix toilets, you don't have to fix roofs, you don't have to fix air conditioners. You don't have to worry about is the tenant having, you know, other residents here? Do they have pets in my location? You know, all that stuff doesn't matter. It's just raw land and then the farmers are farming that land and able to utilize that land for local produce, things like that. And so I think this is actually a really interesting passive income idea. If you can get the numbers to work based on your area, specifically, I like it in these small plots. You can have a diversified portfolio of farmland in different areas where maybe it's an acre, maybe it's two acres. Maybe it's five or 10 acres if you have a lower price per acre.

• 12:24Andrew Giancola?

  In my area, for example, it's a hundred thousand per acre. So maybe you're buying just a couple of acres at a time, but then you build up this portfolio of farmland that has cash flow every single year. Maybe farmers are paying you 20, 30 grand per year just to rent out this farmland. Well, that could be a very, very lucrative passive income idea for a lot of people. So really cool stuff here. And I think if, you know, say, for example, you bought farmland for a hundred and $50,000 and you're getting $30,000 per year. That is a great ROI. That is a lot more than a rental property would get you. So really thinking through this, I think it's a very powerful strategy and doesn't require you any maintenance or repairs or anything like that. So it's a much higher ROI than possibly a rental property could be.

• 13:07Andrew Giancola?

  Number four is if you don't have a lot of money, this is an interesting one, which is vending machines. There's a lot of people out there that are doing some really creative stuff with vending machines. Sure, you've got the traditional vending machine where you try to find high-traffic locations that you can place your vending machine. There's a lot of sales to landlords and owners of those locations so that you can actually place your vending machines in apartment complexes and/or office buildings, things like that. But there are also creative ways to utilize vending machines. I've seen people create cold brew coffee vending machines. I've seen people create little snack bars where it's a touchless pay vending area in apartment complexes. I've seen people do some really, really cool stuff. So just kind of thinking about vending in general is there's a lot of ways to partner with different people,

• 13:52Andrew Giancola?

  offices, schools, malls. But really, I think apartment complexes are a great spot to think about this. If you can think about, for example, the little snack area when you go to a hotel or something like that, if you think about the little snack or little mini convenience store, if you can build out some of those and build out a way to make it enticing where it's touchless or cashless, that is a form of a vending machine. And you can kind of get creative on how this can actually operate. You could do profit-sharing agreements with some of these businesses and complexes and saying, "Hey, I'll run this whole thing. I'll restock it. I'll make sure everything is running smoothly." And you can get a percentage of profits to make that run smoothly. There's a lot of different things that you can do. You could do drinks. You can do snacks. You could do hygiene products. This is what I love about vending now is there's so much more technology coming into play

• 14:37Andrew Giancola?

  that you can really get creative. So the reason why I'm talking about this and the reason why I'm talking about the creative ideas is you've probably heard about normal, traditional vending machines. I am less bullish on those unless you can get them in places like laundromats or schools or offices or you have connections to do something like that. And I am more bullish on the creative vending machines. There's a guy on social media, and I've seen him on X or Twitter, named Quinn Miller, who is a really good follower if you're interested in this kind of stuff. And he does creative vending options and does some of this touchless stuff, too. So if you're interested in that, I would check him out. I think it's a really, really interesting business that you can run pretty passively. Number five is billboard rentals. Now, there's not a lot of people out there... That are trying to get into the billboard industry. I think it's more so a monopolized industry.

• 15:22Andrew Giancola?

  And so this is something that you can definitely do where you can start to purchase and or lease land in a highly visible area, obtain the necessary permits and go ahead and put a billboard up. Now, not every city or county is going to want you to start putting brand new billboards up. But if you can do so, this is a great option for some passive income. And if you already own land, for example, on a busy highway or something like that, that is something where you can start to market and approach local businesses. You can also grow this with digital billboards where you can sell a lot more space on these digital billboards. The price is going to go up for the initial investment, but this is also something that you can do in some of these higher traffic, different areas. Number six is ATMs. Now, ATMs are one that we had Paul Alex on this podcast, talking through, you know, his ATM business and how he started to grow it. And he does this in a number of different ways.

• 16:06Andrew Giancola?

  He goes to barber shops or coffee shops or different, you know, gas stations, different areas like that, sells the owner to see if he can put his ATM machine in there and then goes about and actually has, you know, X amount of ATM machines. So what he did was he backtracked his thought process and said, how many ATM machines do I need in order to make enough cash flow to be able to have financial freedom? And he was a SWAT team police officer. Really interesting episode. If you haven't heard that one, go back and search the personal finance podcast, Paul Alex. And in that episode, he talks through his entire story. He's also very bullish on like Bitcoin ATM machines that he puts in airports and places like that as well. And then he also does POS systems. So systems for local businesses that, you know, help accept payments and payment processors, things like that.

• 16:50Andrew Giancola?

  And so he creates a lot of his cash flow and passive income based on that. He's got a really big social following, talking through this process. But when he came on this podcast, it is interesting. Now, the one downside to ATM machines is you've got to have a lot of them to really get some cash flow going. Some of them only make like two, 300 bucks a month. And so for me, it's a lot more work than some of these other ones. But still, I think you can make cash flow on them and it's a really low startup cost. You can get an ATM done for seven grand or less. And so you could start to see this as a wealth flywheel as well, where the cash flow, you can start to reinvest and buy, you know, one ATM every year and then two and then three, and then kind of start to accelerate it that way. So it is Definitely one that you can start to try to achieve financial freedom even if you wanted to with.

• 17:31Andrew Giancola?

  But as we start to go more cashless, it is one that you can kind of look at POS systems and some of those Bitcoin options as well. So I like how Alex is actually diversifying some of that stuff. Number seven is self-storage units. So self-storage units is a big one that you can look at if you have higher cash. In addition to having some knowledge and wherewithal about self-storage, if you're not educated on self-storage and you're interested in that industry, I would definitely get educated first. But secondly, I think this is something where you can purchase, lease and/or develop self-storage units in areas that definitely need them. So Nick Huber came on this podcast and that's what he does. He owns over $100 million of self-storage units. And he came on this podcast and kind of talked through his strategies of exactly how he did this, how he got started in it.

• 18:15Andrew Giancola?

  And I think it's a really, really interesting industry if you can get it to a point where you're not having to manage it. Instead, you know, you got keyless entry, for example, so customers can go in and out without having to, you know, talk to a manager or have a gate raise, anything like that. And making sure that they can kind of sign up as new customers online. There's a lot of different things like that. So this is closer to maybe a little more sweat equity in this business, but it still can be passive. And then the way that Nick kind of does it is very passive and he has a manager in place for most of those locations. Number eight is RV parks and campgrounds. So this is kind of another real estate play, but RV parks and campgrounds are extremely profitable if you can get them right.

• 18:57Andrew Giancola?

  So if you can find RV parks or campgrounds near areas that are desirable to go hiking or fishing or areas that are desirable to do outdoor activities. This can be something that can be really, really great for your income to increase. Now, one thing I would do is I would take some of the cash flow and I'd make sure you have a manager in place managing that campground. Or if it's just a smaller version of this, maybe you don't have to do that. They can book online and have that available as well. But these are great for people parking their RVs and/or larger vehicles in this location. Number nine is car washes. Now, I'm not talking about the automatic car washes, which this is really a business that's getting more and more competitive as time goes on.

• 19:36Andrew Giancola?

  You're in a more rural area and you don't have those automatic $20 a month car washes coming into your area or $10 a month, whatever they are now. They're all competing with each other to fight to the bottom here. There is way too many of those out there, so I would not get in that business whatsoever. But if you're in a more rural area and you can see some of those wand car washes, one of the coin operated ones where you get the washing wand and the brush and you kind of do it yourself. Those can be very profitable if there's not a ton of the automatic car wash competition around. Now, they can still be very profitable for a lot of people because there are people that prefer those. A, because they don't scratch your car if you don't use the brush, it only used a wand. But B, you can also do some different things with them. You can use your specific soaps and all that kind of stuff too.

• 20:21Andrew Giancola?

  You don't have to worry about any issues with your car. And so some people still do prefer those. So if you see a busy one, I would approach the owner and see if you can work out some sort of deal, maybe a seller financing deal. Or something like that because I am very interested in those businesses. For sure, it's just finding the right location is the key where there's not a bunch of those automatic car washes coming in. The automatic car wash business is a race to the bottom, I think for sure. So that's not something I'm interested in. My relationship with money has changed a lot over the years. Early on, I thought building wealth was about making more money. Now, I know it's really about having clarity. When you know exactly where your money is going and whether you're on track, you make better decisions. That's one of the reasons I love Monarch.

• 21:05Andrew Giancola?

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• 21:47Andrew Giancola?

  Use code PFP at monarch.com to get your first year of Monarch Core half off at just $50. That's 50% off your first year at monarch.com with code PFP. If you've been listening to this show for a while, you know it's not just me anymore. It takes a great team behind the scenes to make everything happen. And if I had to hire someone tomorrow, I'd want someone who could jump right in and make an impact. That's why I'd use Indeed Sponsored Jobs. When workplace chaos hits, Indeed Sponsored Jobs helps you reach qualified candidates faster. Your job gets boosted in search results, so you're spending less time searching and more time interviewing the right people. Plus, you only pay for results, which I absolutely love.

• 22:32Andrew Giancola?

  Sponsored jobs posted directly on Indeed are 95% more likely to report a hire than non-sponsored posts. That's a huge advantage when you're trying to grow your business. Spend less time searching and more time actually interviewing candidates who check all of your boxes. Less stress, less time, more results. When you need the right person to cut through the chaos, this is the job for Indeed Sponsored Jobs. And listeners of this show will get a $75 sponsored job credit to help get your job the premium status it deserves at indeed.com/podcast. Just go to indeed.com/podcast right now and support our show by saying you heard about Indeed on this podcast. Indeed.com/podcast. Terms and conditions apply. Need to hire?

• 23:17Andrew Giancola?

  This is a job for Indeed Sponsored Jobs. It's kind of amazing how much can change in just a single year. Every summer, the kids are a little bigger, a little more independent, and life looks a little different than it did the year before. And it reminds me that while we can't predict the future, we can prepare for it. That's one of the reasons I like PolicyGenius. See, PolicyGenius isn't an insurance company. They're an online marketplace that lets you compare life insurance quotes from some of America's top insurers, side by side, for free. And their licensed team helps you compare coverage, prices, and terms, answers your questions, and even handles the paperwork so you can get the right ...policy without the hassle. For me, having life insurance isn't about expecting something to happen.

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• 24:56Andrew Giancola?

  Number 10 is parking lot rentals. Now, this is one that I love. And the reason why I love this is I have a little bit of inside insight on this as my mother-in-law has a business that does this. And it was passed down a couple of generations in her family. She lives in a town called Tarpon Springs, Florida, and it's this place where it's got an area called the Sponge Docks. And in this area, she owns a parking lot here that people come every single day and they pay $5, $6, $7 to park in her parking lot because there's no parking in this area. And there's a lot of tourist things to do. There's a lot of gift shops and restaurants, and there's things to do, an aquarium, all that kind of stuff down there. So she owns this parking lot and she can charge for parking spaces. They do festivals down there and all kinds of stuff. And you can make a lot of money in the parking lot business.

• 25:40Andrew Giancola?

  So originally, she used to have attendants standing there and people would come up and they'd collect the cash and have actual physical people, you know, collecting the cash. She was doing it old school for a long period of time. And then recently, she got the arms that lift up or whatever, and you put the cash in and then it lifts the arm or your credit card or whatever else. And that increased her revenue significantly. And so this is something that could be completely passive for you. You can actually manage that entire system. From your home computer, if you could find land in a location that would be fantastic for stuff like this, maybe land near stadiums, maybe it's land near tourist attractions like this. Maybe it's land near fairgrounds or land near concert venues.

• 26:22Andrew Giancola?

  All of this stuff can be pretty profitable for someone who owns a parking lot. A, you own real estate, which is always a great thing. But B, you can start to make passive income and this is income that's going to hit your bank account every single day that can really increase your income. I am very, very bullish in parking lot rentals. I think it's a great place to do this. You can also partner with local businesses and you can even offer things like valet parking. You can even put electric car charging stations and make additional revenue that way. So there's a lot of cool things you can do and this has advanced significantly with technology where it makes it much, much more passive than it was in the past. Number 11 is digital billboard ads. So what I mean by digital billboard ads is maybe you walk into businesses and you see those TVs that are scrolling with different ads or billboards.

• 27:05Andrew Giancola?

  These are digital billboards ads and you kind of walk in there and you can sell them on this. So what you would have to do is purchase a TV and then you would have to have a salesperson and I would get somebody overseas like from the Philippines or something like that to help you with sales and they can help you through this process of, hey, finding local businesses that want to advertise on these digital billboard ads. So there's two sales processes here. It's one, selling for the ads. Two is selling businesses to put this billboard up. You do a revenue share, so you do 50 50 split or something like that. This would make a ton of sense. For example, we do this with our pickleball locations, one of our businesses that we own, with actual physical banners that we put up. But we're also going to put up some digital stuff as well.

• 27:47Andrew Giancola?

  And this is going to start to scroll through with different local businesses that want to advertise. And this is passive income for the business owner that you put the TV in. And this is also passive income for you as well, as long as you can get somebody to help do some of the sales process. So I think this is a really, really interesting business for places people hang out. You know, barber shops, sports bars, things like that, restaurants. All of that would be a great spot to have some of these. Number 12 is rentals of all different kind of water rentals. So what I mean by that is both. Boats, jet skis, paddleboards, kayaks. If you live in a location near a lake, or you're near the ocean, or you're in a beach town, all that kind of stuff, you can set up some of these businesses. You can hire an employee to run it, split the revenue in a specific way. And for example, you can buy all the

• 28:31Andrew Giancola?

  the equipment, maybe the boats or the jet skis, or maybe you buy paddleboards or kayaks if you have a lower startup cost. And then you and the person managing that location can split the revenue, whatever revenue split you come up with. Have a business partner for one of these, so that you're not standing there trying to sell people on paddleboards or kayaks, things like that. But I think this can be a passive income source for you, as long as you find that sweat equity partner and you get them involved. Number 13 is event space rental. Same exact thing. You gotta have a sweat equity partner for event space rental. But if you can find a cool event space, you can make a lot of money doing this. So for example, where I got married, the guy bought an event space where it was like an old rundown building. And what he did was he spent $100,000 renovating this building, which I got married over a decade ago now, and it costs a little more now.

• 29:15Andrew Giancola?

  But now he makes $30,000 plus per weekend with this event space. And what he does is he has a salesperson and a person who just runs the entire thing that he partners with. And he said, "I literally spend almost no time doing this. This person does all of the sweat equity, and they make good money because of it, but I make millions of dollars a year off this event space." So it's a very interesting way to kind of partner with somebody if you can find a smaller space, maybe from smaller weddings, and then start to build it up from there and see if that's something that you can do going forward. 14 is coin operated amusement machines. So what I mean by this is you can purchase machines like pool tables, or arcade games, or pinball machines, and place them in restaurants, bars, malls, this type of stuff.

• 29:55Andrew Giancola?

  So I know someone who did this, and they are very, very wealthy from this business. Now, is this business as prevalent as it used to be? Absolutely not. But is this something that you could still do in specific locations? I think so. And so depending on if you're like in a downtown area, or if you're in a busier area, you can start to get into something like this and offer profit sharing deals. Most of these, if you're trying to put it into another business, you want to offer profit sharing deals. So you put it in, you do all the work, you do all the maintenance, and they share by giving you the space. This is kind of the best partnership for a lot of these scenarios, just because it can help and be a win-win situation. And you can grow by expanding more machines and placing them in additional venues and things like that. So that's another interesting one that most people probably aren't looking at anymore,

• 30:40Andrew Giancola?

  but you can still probably make some decent money depending on where you live. The next one is peer-to-peer car rentals. So websites like Turo have come out and there's a bunch of different ones out there now. But if you can find inexpensive cars that are clean, that are nice, that you can use specifically for this business, you can do peer-to-peer car rentals and be able to make some decent money. Now, you don't want to do it with your own vehicle only because the wear and tear is just going to cause you to have to pay a ton of money, unless you have like a really high-end vehicle that you don't mind trying to make some of that money back. That would be one scenario where I would do it. But outside of that, looking for cheap vehicles out there, run the numbers, see if, hey, if I buy this 10,000 or 15,000 used clean vehicle, can I rent it out for $200 a day?

• 31:24Andrew Giancola?

  Do some math like that to see if you can kind of get to that point in time. And this could be something that's on the side, that you can make a little more passive income, especially if you can partner with somebody else that can help you run this. 16 is renting tools or equipment, specifically very specialized tools and equipment. Maybe it's bigger landscape machines, maybe it's power tools, and you can rent this equipment out to contractors or DIY enthusiasts. And I've seen people do this in a number of different ways. One, I've seen them find, you know, equipment, if they're a little bit handy, I've seen them find equipment on Facebook Marketplace that may be not working perfectly, then they go fix up the equipment and then they can start renting it out. That's one option. Another option is I've seen people buy some of this equipment on places like eBay, for example. So people just are trying to get rid of their stuff, they buy it on eBay, get it shipped

• 32:08Andrew Giancola?

  down to them, and they're able to kind of market with some of this stuff. And you can market on local classified ads, you can have like an easy-to-use website with tool rentals. And this is another thing that if you're interested in tools, you like tools, I think this is a great little business that you can set up and start. And if you want, you could set up delivery service that would make it a lot less passive, or you can, you know, do it at a warehouse, something like that. But there's some cool things that you can do there. Along the same lines of like the water sports is also if you live in an area That is a ski town or something like that. You could do ski or snowboard rentals and ski or snowboard rentals can also be very lucrative based on where you live. Maybe the mountain charges, you know, an arm and a leg for ski and snowboard rentals and you can be the person

• 32:52Andrew Giancola?

  who kind of undercuts that cost and charges half. You can make some decent money doing something like that. Now, 18 is one that I am kind of bullish on right now as well. And I know people who are doing very well with this and it's electric vehicle charging stations. Now, this is something where you can purchase and install charging stations in some pretty high traffic areas like parking lots, malls, or near highways. So maybe you can't afford to invest in those parking lots, for example, that we were just talking about earlier. But maybe you can, you know, work with some of those parking lots to put electric charging stations in there. And you can use EV charging apps and local ads to attract customers. And then what you can do is offer partnerships with businesses and add value to their customers. So you can do this with restaurants, breweries. I mean, there's just so many different options for this that I

• 33:37Andrew Giancola?

  think it's a very, very cool option. You could also do it at gas stations. So maybe there are the mom and pop gas stations all over the place in your area. You can go to each of them and say, hey, I will put an electrical vehicle charging station here. Just give me two parking spots and we'll be able to kind of work through that. And if you can get a bunch of them, maybe you find someone who owns 30 gas stations and you get a deal with them to do all of those gas stations. There's some pretty cool stuff here that I think that you can do for that one. And I really, really like that one. Storage for boats. So I have a friend who owns marinas and I have a friend who also just owns land that he has people store boats on and they store RVs and stuff there, too. And so you can purchase land in a suburban area where people can go and just park their boat and their trailer and each one of them has a slip or a slot. You could do it

• 34:19Andrew Giancola?

  covered if you want to for things like RVs. And this is just another way to make a passive income where honestly, this makes more money than a rental property if you could do it right, a lot more. So this is an interesting business, I think, for a lot of people. That can also be very passive income. And then lastly is inflatable rentals. So this is bounce houses. This is movie screens. This is all the inflatable things that they do for birthday parties and kids stuff and all that kind of thing. If you can get someone to partner With you to do the delivery and setup and then you just keep buying and purchasing the inflatables. I think this is a really great passive income business where they're dealing with all the customer stuff. You are purchasing some of these inflatables. A lot of passive income ideas are not truly 100% passive is what some people need to realize.

• 35:03Andrew Giancola?

  And so the way to make them 100% passive is you get a partner who is willing to do the sweat equity. So maybe it is someone who's younger than you, who has more time than money, and you partner and find those people who are hungry and you can really build a really big business and you can have some very high passive income just based on you being able to work with that person. So for a lot of these, that's where I want your mind to go for this stuff is to kind of partner with the right people. I think partnerships are really key in business, especially if you want to own a number of different businesses. It is the key to being able to building wealth and generating income where you don't have to use so much of your time. So listen, this is 20 unconventional passive income ideas. Again, this is just an episode to help you spark ideas. I know you guys love these episodes

• 35:47Andrew Giancola?

  and we go through some of these idea generation episodes. And so if you guys, again, if you guys have any other ideas, please leave a comment on YouTube and/or leave a comment down below. I think even Spotify allows comments now. So leave a comment on Spotify and let us know some of your passive income sources that you like. Let us know down in those comments below. I truly appreciate each and every single one of you listening. I hope you guys find your passive income sources. Everybody should have a little passive income coming in. It's a fun way to make money and they should enjoy it as well. So really appreciate each and every one of you. Our goal is to bring you as much value as we possibly can. And so we want to continue to do that. I want to teach you to build wealth and that's our entire goal is for each and every single one of you to achieve financial independence and we're going to do that step by step here together. Thank you so much to

• 36:32Andrew Giancola?

  each one of you for listening and we will see you on the next episode.