Income producing assets are things you own (or control) that pay you every month, quarter, or year.

In this post, I’ll share some of the best income producing assets you can build or acquire — starting on the side.

These selections are based on:

15+ years building income-producing assets online
20+ years as an investor in income producing assets
500+ interviews with successful side hustlers

You’ve probably heard the saying that it “takes money to make money,” but that’s not always true. Sure, starting with money will help, but you can also create income producing assets with a little sweat equity.

Ready? Let’s do it!

1. Real Estate

Real estate can be a great income producing asset, and comes in all shapes and sizes.

A common example would be buying an investment property and renting it out. You profit on the spread between the monthly rent and your expenses (mortgage, insurance, maintenance, etc.). 

It’s a realistic way to build both cash flow and long-term wealth.

The downside is … houses are expensive!

Thankfully, new platforms like Arrived make it easy to invest in income-generating properties—with as little as $100.

The company pools money to buy rental properties, manages them, and then distributes the cash flow every month.

We’ve covered lots of real estate side hustles, but rental income is one of the most common income streams of millionaires.

One creative example came from Austin Miller. When we spoke, he’d built his rental portfolio to 17 properties worth $1.2 million — all acquired “free”—without any of his own money.

2. Dividend Stocks

Dividend stocks are another popular income generating asset. Dividends are a portion of the company’s profits they pay out to shareholders.

But not every company pays a dividend — and some pay more than others.

One strategy is to buy shares in companies with long histories of paying—and increasing—dividends. These include name-brand businesses like Target, Chevron, AT&T, and Proctor and Gamble.

These “boring” old companies aren’t likely to have explosive share price growth, but they do spin off consistent passive cash flow.

Think of it this way — every time Coca-Cola sells a soda, the shareholders get a portion of the profits. And you didn’t have to do any work for it!

That’s true passive income.

Over the last few years, I’ve built up my dividend income stream to over $2,000 a month.

Check out a service like the modern brokerage M1 Finance to get started yourself.

You can trade stocks for free, or select one of their pre-built portfolios. 

3. Bonds

Where dividend stocks give you an ownership stake in a company, bonds are a different kind of income generating asset.

A bond is like a loan you give to a company or government. In return, they promise to pay you back with interest.

That interest is what produces the income from bonds, but bonds — like stocks — can also gain or lose value as well. Bonds are preferred by investors looking for reliable income, with less volatility. 

4. Websites

There’s a lot to learn to turn a website into an income generating asset, but when it works, it can be extremely lucrative.

For example:

Scott earns 6-figures a year from his bird-watching blog
Shelley earns $50k a month from her travel blogs
Andrew earned over $1.2M from his gift ideas site

Their sites are monetized with advertising, affiliate partnerships, and product sales.

And the cool part about that? All of those easily scale as your traffic grows.

Want to start a blog of your own? Check out my free 6-part video course on how to start your own site.

(Building a site from scratch is just one option. Flippa is a leading marketplace to shop for websites that are already producing income.)

5. Equipment and Vehicles

Lenny Tim earns around $3,000 per month renting mobility scooters and wheelchairs in the LA area.

This category is a low-overhead way to get started generating extra income. Lenny bought his first mobility scooter used for around $500 on Facebook Marketplace.

He explained, “I get my money back within 1-3 rentals,” and has expanded his “fleet” since then.

What other equipment could you rent out?

There are marketplaces that specialize in renting out:

Cars
RVs
Camera Gear
Boats
Pools
Baby Gear
and lots more

6. Digital Products

A digital product could be a book, an online course, or even something as simple as a spreadsheet or checklist.

What I love about these income generating assets is you can create it once and sell it over and over again.

For example, Rachel Jones reported earning $10,000 a month from her portfolio of Etsy printables.

What’s a printable? Think digital files like:

habit trackers
meal planners
budget templates
chore charts
intake forms
and more

When you upload those printable files to Etsy, you can reach a worldwide audience of buyers — and delivery is all automated online.

7. Royalties

Royalties are another common income stream among millionaires — and you don’t have to be Taylor Swift to earn them.

The way this income generating asset works is you earn a small amount every time your work is used or purchased.

For example, I’ve self-published several books and earn author royalties every month from Amazon:

Another way to earn royalties is through product licensing. In this model, you sell your product idea to a larger company in exchange for a percentage of future sales. 

For example, Nate Dallas and his brother licensed a Pictionary-inspired card game to Mattel.

The duo (a dentist and a preacher) didn’t have to design it, produce it, or sell it—but they found someone who could—and split an eventual $300,000 in royalties!

Other things you can license:

Photography
Music
Voice over work

You can even buy future royalty rights on sites like Royalty Exchange.

8. Vending Machines

Vending machines are super popular income producing assets. While you’ll pay upfront for the machine and the inventory, they can make sales 24/7 without you around.

If you find a good location, they can easily generate $500+ per month in profit. 

The other cool thing about the vending business is it’s low-risk. If one location isn’t working, you can pack up your machine and try somewhere else — something that would be much more expensive if it were a brick and mortar store.

9. Small Businesses

We’ve already covered how you can buy a share of business profits through dividend investing, but that only works for big, public companies.

Another way to generate income is to buy a smaller business near you.

For example, Hannah Ingram bought a self-service car wash in Tennessee. Even better, she negotiated a seller financing sale so she was able to close with no money down. (She paid for it from the cash flow of the business.)

After taking ownership, she set out to improve the operation and now earns around $5k a month — in exchange for about 30 minutes of work a day.

 Sites that list businesses for sale include:

BizBuySell
LoopNet
Crexi

With SBA financing, you can acquire a profitable business with as little as 10% down.

10. Video Content

One of the most accessible income producing assets is video content. Anyone with a smartphone can begin creating videos that ultimately make money.

If you have over 1000 subscribers and meet a couple other requirements on your YouTube channel, you can enable ads and start to get paid.

Lately this passive income steam has been around $400 a month:

To be sure, it takes time to create the videos, but once they’re uploaded, they can earn passive income for years—as some of mine have.

Another unique video-based side hustle is reviewing products as part of the Amazon Influencer Program.

In this program, you create short video product reviews of items that are sold on Amazon. Amazon puts your videos on the relevant product pages, and — when someone buys the product after watching your video — rewards you with a small commission.

After you upload, those videos become income-producing assets for you. For example, Tyler Christensen reported earning up to $2,000 a month doing this part-time after just a few months of uploading videos.

You do need to have some level of social media following to qualify, but you don’t need millions of followers to be accepted.

11. Cash

It might sound a little weird, but the cash in your wallet or bank account can actually be an income producing asset on its own.

How does it work?

By putting your cash into a high yield savings accounts or certificates of deposit, you can earn interest on your money.

Of course interest rates fluctuate all the time, but this is a low risk way to generate some extra income.

12. Your Smartphone

One overlooked income generating asset is your phone. There are dozens of apps that pay you real money for sharing your data usage, location, and other habits.

Here are a few that might be worth a look.

Caden (iOS)

Caden is one of my newest finds, and is earning me over $10 a month on autopilot

The app itself is a little slow and buggy, but may be worth those small headaches for some relatively easy passive income.

At press time, it was iOS only. Check out our full Caden app review to learn more.

MobileXpression

MobileXpression is a market research panel that pays you for data from your mobile phone.

After you download the app, it works in the background recording your browsing habits. You’ll earn weekly credits redeemable for gift cards to popular retailers.

Realistically, this is probably worth around $20 a year. And you’ll earn a free $5 gift card after your first week.

Pogo

By sharing your location and credit card transaction data with Pogo, you’ll earn points that you can cash out to PayPal or Venmo.

Just enable location tracking and link your bank account credentials when you sign up. Based on my results so far, I expect Pogo to be worth around $5-20 a year.

Check out my full Pogo app review to learn more.

13. Your Credit Card

You pay the same price at most places whether you pay with cash or a credit card, so you might as well get 1-5% cash back from credit card rewards.

According to Yahoo Finance, the average American spends over $1500 a month on their credit card. Even if you get just 1% cash back, that’s worth an extra $180 a year — just for spending like you normally would.

Here are some of the best cash back cards available today.

What’s the Best Income Producing Asset for You?

With a little time, effort, and money, you can start stacking up income producing assets.

And once income from assets you control exceeds your monthly expenses, you’re financially free!

Which path you choose depends on your goals, interests, and how much you have to invest. But stay focused and you’ll start to feel the magic of making money that didn’t come directly from a job.

Serious About Making Extra Money?

Start Your Free $500 Challenge. My free 5-day email course shows you how to add $500 to your bottom line.
Join the free Side Hustle Nation Community. The free Facebook group is the best place to connect with other side hustlers and get your questions answered.
Download The Side Hustle Show. My free podcast shares how to make extra money with actionable weekly episodes.

Teaching is a noble and rewarding profession, but we all know it’s not the best-paying job in the world.

I’m grateful to have had some awesome teachers growing up, who challenged me, inspired me, and made me love learning for learning’s sake.

Where would you be without the teachers in your life?

But as a teacher, you usually start with a low salary and a pile of student debt, so it’s only natural to look for ways to make extra money.

Here are the best side hustle ideas for teachers and educators to take advantage of your unique skills and expertise.

These were selected based on:

Interviews with dozens of teachers
Feedback from the 50,000+ member Side Hustle Nation community
My own 15+ years of side hustle experience

Ready? Let’s do it! 

1. Tutoring

Since teaching comes natural to you, tutoring is also another good option if you’re looking for part-time income.

For example, Matt Fuentes reported earning $1000 a week with his part-time tutoring business — on the side from his teaching job.

Another option is to set up shop on a platform like Wyzant, which helps match students with tutors. Tutors set their own rates, often between $30 to $60 per hour. (Rates vary by subject and location.)

Or you can apply to work with BookNook, a popular online math and reading tutoring company for kids in Kindergarten through 8th grade. Pay is $15-22 an hour.

Work hours are flexible and will likely align with when students aren’t in class.

2. Selling Printables

I like side hustles that scale, meaning you can get paid multiple times for work you do once. Printables definitely check that box.

In fact, Rachel Jones reported earning $10,000 a month from her portfolio of Etsy printables.

What’s a printable? Think digital files like:

habit trackers
meal planners
budget templates
chore charts
intake forms
and more

You may already be creating similar files like these for your own class.

When you upload those printable files to Etsy, you can reach a worldwide audience of buyers — and delivery is all automated online.

3. Teaching Online

While one-to-one tutoring can be rewarding and even pretty lucrative, you’re still trading hours for dollars. One way around that is to package your knowledge into an online course and sell it on a platform like Udemy or Outschool.

These marketplaces have millions of students and courses on nearly every topic imaginable. One guest of mine reported earning $4000-5000 a month teaching courses on Udemy about baking the perfect sourdough bread!

Udemy targets adult professionals, so you might have to change up the material from what you’d normally cover in class. Still, the site has been a nice source of passive income for me over the last few years. If this sounds interesting, my friend Phil (a top-rated Udemy instructor) has an in-depth and inexpensive class on how to get started.

In contrast, Outschool is aimed at kids (and their parents). On The Side Hustle Show, Jade Weatherington explained how she was earning $10,000 a month on the platform. Her most popular classes are for middle school English writing.

4. Reselling your Curriculum

You can sell your curriculums, lesson plans, and other educational materials on TeachersPayTeachers. This online marketplace lets you share your best work and get paid for it.

Your income depends on the number of people who buy your products, but it can be a good source of extra income that’s not directly tied to your hours.

5. Mobile Notary Service

Mobile notaries like Kristin Barker Stauffer walk new homebuyers through their mortgage documents. Since most borrowers also have jobs, these loan signings usually take place in the evenings or on weekends.

The gig requires professionalism and attention to detail, but can be quite lucrative. Appointments usually pay $75-150, and Kristin reported earning up to $8,000 a month as a part-time loan signing agent.

Check out some of the resources from Loan Signing System to learn more.

6. Online Surveys

You can get paid for your opinion on different topics by participating in online surveys.

These won’t make you rich, but here are a few of the most popular (and credible) online survey sites:

The average pay for online surveys is $0.50 to $5.00 per survey, which may not be much but it can add up. It’s also convenient because you can do these anytime and anywhere.

Related: The Best Money Making Apps

7. Freelance Writing

There are companies and websites out there ready and willing to pay for your writing skills!

All the work can be done remotely in your spare time. To get clients, check out sites like Fiverr.

For example, Georgia Austin got her first freelance writing jobs within the first few days, and went on to grow her business to $90k a month!

To learn more, check out this free guide from the American Writers and Artists Institute:

8. Build an Informative Website

If you enjoy writing, blogging is also another worthy side gig you can earn money from. I started blogging as a creative outlet, but it’s turned into a money-making venture for me.

It’s an awesome business because I can do it from anywhere and have complete control over the time I put into it.

Income from blogging depends on your topic and the amount of visitors to your site. Delilah Orpi, a former teacher in Florida, reported earning $8,000 a month from her blog about curly hair.

She monetized her site with a combination:

advertising
affiliate partnerships
her own products

Next Step: My free 6-part video course will walk you through how to set up your site for less than you might think.

9. Focus Groups and Paid Research Studies

This is another way to earn from your opinions but unlike online surveys, focus groups pay better. Most often, you get paid to give your honest feedback about a certain product before it gets launched.

Traditionally, focus groups were in-person, guided discussions. Now we have online focus groups that all you to be in a video conference with fellow participants.

For opportunities, check out sites like User Interviews.

I’ve earned $60-100 an hour for online and in-person focus groups, which I thought was a great side hustle — especially if you can do a couple of them in a month.

10. Remote Bookkeeping

This one isn’t just for math teachers, but really anyone who likes to see numbers add up and is curious about the nuts and bolts of how businesses run.

Virtual bookkeepers like Kate Johnson can earn $60 an hour or more. On top of that, (in US at least) there are no formal certifications required to call yourself a bookkeeper.

Still, Kate emphasized the importance of education and mastering your bookkeeping software of choice. Here’s a free preview of the course she “credits” (pun intended!) with helping her get started.

11. Flea Market Flipping

The age-old business model of “buy low, sell high” is one of the fastest ways to make extra money.

Stacy Gallego is a master of this, earning several thousand dollars a month from her part-time product flipping business. She specializes in sourcing undervalued inventory locally, and then tapping into eBay’s customer-base of 130+ million potential buyers.

Among her favorite places to find items to flip for a profit are:

Yard sales
Thrift stores
Facebook marketplace
Local buy/sell apps (like Offerup.com)

Some of her profitable flips include a motorcycle side car, a collectible skateboard, and several Sleep Number Beds!

To learn more about this business, Stacy recommended checking out Flea Market Flipper. Here’s a free training they put together on how to get started.

12. Babysitting, Child Care, and Caregiving

Another good way to earn extra income — especially during school breaks or over the summer — is through babysitting, child care, or even elder care.

You can create a free profile on sites like Sittercity.com and Care.com, big platforms that help connect families with caregivers like you. The work hours are flexible and with the nationwide average rates are in the range of $12-15 an hour.

If you love kids and you and have time to spare, babysitting would be a pretty easy side gig to consider.

A teacher friend of mine actually ended up connecting with a celebrity client in New York through Sittercity. You never know!

13. Airbnb

If you have an extra room to spare, you can earn money from it by becoming an Airbnb host.

I especially like this side hustle during summer breaks as a way to meet interesting people from all over the world and make extra money at the same time.

You get to set the pricing, availability, and house rules, giving you control over process according to your preferences. The company also carries a $1 million liability insurance policy for every rental.

14. Self-Publishing

If you love writing stories in your spare time, you can earn from them too by self-publishing your own book. Thanks to Amazon, you can put your book up for sale without a traditional publisher.

This is one of my favorite side hustles! I’ve written several titles (all non-fiction) and have earned over $75,000 in lifetime author royalties.

On The Side Hustle Show, we’ve covered several unique self-publishing angles, including:

Children’s books
Public domain publishing
“Low content” books

I believe everyone has a book in them. What’s yours about?

15. Become an Adjunct Professor

If you want to supplement your teaching salary, you might consider becoming an adjunct professor at a local college or online.

This usually requires a master’s degree, but some colleges and technical schools only require a bachelor’s degree and industry experience. The cool thing is many adjunct professor gigs let you pre-record your lectures, and use them semester after semester.

The average pay for adjunct professors is $3500 per course and you get to have a flexible schedule as well.

16. After School Programs

May Najafabadi’s after school enrichment classes teaching crafts and jewelry making were a hit with both kids and parents.

And she earned $12,000 in 8 weeks — working just 1 hour a day!

May explained there was a bit of a process to get on the school’s list of approved vendors, but as a teacher you may have an inside track. This could be a great business to explore your creativity and continue working with kids on campus.

Similarly, Jeff DiOrio, a math teacher and high school dean in Illinois started teaching after school chess lessons. Today, EliteChess is a 6-figure side hustle with classes both in-person and online.

17. Voiceover Work

As a teacher, you’re probably used to talking all day, and voice over acting offers you a way to get paid to talk. This is a good side hustle to consider, especially if you have some acting experience under your belt.

The average pay for a voice actor range from $100 for a 15-second recording to a high of $3000 for an audiobook. Look at platforms like Voices.com or ACX.com to see what kind of gigs are out there.

With the right equipment, you can do this from the comfort of your own home in your spare time.

18. Become a Coach

If you were an athlete or dancer, you can still earn from these skills by becoming a coach.

Local communities, gyms, and dance studios are always on the lookout for good instructors. There might even be paid coaching opportunities at your own school.

If you still have the passion, why not offer your services by giving back to the younger generation?

Youth soccer coaches earn $18 to $25 per hour while dance teachers earn $20 per hour. It’s a good way to earn extra bucks while doing something you love.

19. Local Rentals

High school teacher Steve Nadramia supplements his salary with a creative side hustle: portable hot tub rentals.

These foam tubs fit in the back of his truck and rent for $250 per week, or $500 for the month. When we spoke, he had a “fleet” of around 25 hot tubs and was booked up months in advance.

Considering a used hot tub is in the $2000-3000 range, you can see how this side hustle can generate a great ROI.

20. YouTube Channel Host

There’s no denying the popularity of YouTube. The Google-owned video site is the world’s 2nd biggest search engine, which spells big opportunity teachers.

Many popular channels have a major teaching focus, including channels Mario’s Math Tutoring. Mario helps students tackle math problems and tests in a helpful, accessible, and on-demand way.

Since you already know your material, YouTube gives you a way to reach an audience far beyond the walls of your classroom.

21. Podcasting

In early 2021, elementary teacher Megan Champion started a podcast called On the Hard Days. She focuses on real talk for parents of neurodivergent children, and has turned it into an inspiring business.

Her primary revenue stream is a membership community for other moms, which brought in $20k in its first year.

Like YouTube and blogging, it can take some time to build up an audience for your podcast, but the results can be life-changing.

22. Proofreading

I made a few thousand dollars as a freelance proofreader and editor a few years ago. My first gigs came from Fiverr, but then I started to get clients by word of mouth and inside some Facebook groups for authors.

It was a lot of fun and I got to read some interesting work before it was released. Plus, it had the added benefit of helping me become a better writer!

I charged around $10 for every 1,000 words, which worked out to around $25-35 an hour. 

23. The Amazon Influencer Program

Tyler Christensen has a background teaching at both the elementary and university levels. One of his unique side hustles is reviewing products as part of the Amazon Influencer Program.

In this program, you create short video product reviews of items that are sold on Amazon. Amazon puts your videos on the relevant product pages, and — when someone buys the product after watching your video — rewards you with a small commission.

Tyler reported earning up to $2,000 a month doing this part-time after just a few months of uploading videos.

You do need to have some level of social media following to qualify, but you don’t need millions of followers to be accepted.

Your Turn

What do you think are the best side hustles for teachers? Let me know in the comments below!

Looking for More Side Hustle Help?

Start Your Free $500 Challenge. My free 5-day email course shows you how to add $500 to your bottom line.
Join the free Side Hustle Nation Community. The free Facebook group is the best place to connect with other side hustlers and get your questions answered.
Download The Side Hustle Show. My free podcast shares how to make extra money with actionable weekly episodes.