Loading...
Passive income

How to make R1000 a day in South Africa

We all could use some extra cash, you have probably heard people talking about making money online and how easy or difficult it is. But is there a formular that you can follow to make a R100, R500 or even a R1000 a day? This is a guide on how to make a R1000 a day in South Africa.

Evaluating your resources

People aren’t the same and will not start from the same point, some people have money and others don’t. This makes it difficult to offer a blanket advice because people’s lives differ. We don’t have access to the same resources or opportunities.

In order to take advantage of one of these ideas, you will need at least R500 to start. This might be pocket change to some and it might be a lot of money for some. Evaluate your current resources and use whatever you have to raise some funds.

Real Estate

Building a real estate portfolio is the best way to ensure that you will earn R1000 per day, it also works if you just want to earn R100 per day. The main disadvantage is that you need a lot of money to start. You have to buy land and build new rental properties or you can buy an existing rental property and lease it out.

Renting out property will earn you R1000 per day; as long as you invest enough time and capital. This is something you can start on a small scale then expand, especially if you already have a source of income. Try to save some money then buy some land and build a few rooms to rent out. You can get land from as little as R20 000 all the way to millions of Rands.

This option is most suitable for people who have a lump sum of money or people who earn a lot of money from their jobs. With rental income; you will be able to make R1000 a day in a couple of years.

Open a business

This is the best way to get to the R1000 per day mark as fast as possible, a business can move from R1 000 per month to R1000 per day within just 2 to 3 years. There are multiple businesses that you can open, some are more profitable than others and some take quicker to grow than others.

Investing in stocks

Again, you are going to need to put up a lot of money upfront before you get to the stage whereby you are making R1 000 a day from stocks. You can make this money from dividends or simply growing your portfolio, but you need to have a lot of money to start with.

YouTube/blogging

This is the easiest to start with in this list, you can make over R1 000 per day within just 24 months doing YouTube or blogging. It takes a lot of money and effort before you can get to that stage; you need to constantly create content.

You can start a blog with as little as R150, your monthly maintenance fee will range between R50 and R100, depending on where you are hosting your blog. Getting started with YouTube is basically free, all you need is a phone with a good camera and some content ideas.

Conclusion

This was a guide on how to make R100, R500 or R1000 a day in South Africa. Do you have any thoughts or questions? Comment below.

5 comments
Leave a Reply

Your email address will not be published.