15 Passive Income Ideas to Build Wealth

15. Be an Expert Referral Source

Another great way to make passive income is to refer business to companies that provide services that you believe in or just enjoy how they do business. Many companies will have either a cash or service discount referral offer available. Some will require you register ahead of time, while others will simply ask that the person you referred reference your name. Although many companies will make this stance clear on their website such as mortgage companies, others will require that you inquire ahead of time to register for their program. The options vary, and one can either provide the service recommendation to friends and family when they have a need for a service, or advertise a specific link on social media accounts.