Earning passive income isn’t always passive — at least not at first. You’ll need to take some time and dedicate yourself to setting up something that ultimately generates money while you’re busy doing something else. But once you have something going, you can sit back and reap the benefits — or continue building more income streams to garner long-term financial stability and wealth.

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For You: The New Retirement Problem Boomers Are Facing

If you want to earn passive income, it’s best to start small. Even an extra $1,000 a month can set you on the path to financial freedom. After all, once you’ve made that much passively, there’s virtually no limit to what you can achieve next.

But what exactly should you do to earn at least $1,000 a month in passive income? And what are your options?

GOBankingRates spoke with Erika Kullberg, an attorney, personal finance expert and founder of Erika.com, to see what she suggested. Here are some ways to start earning money through passive income.

Prioritize Investments That Bring In Cash Flow

One way to start earning $1,000 or more a month is to invest in — and hold — dividend-paying stocks or real estate investment trusts (REITs).

“These are the investments that bring regular cash in the form of dividends or rental income without daily management,” Kullberg said. “To start, do some research for companies or funds that have stable returns in the past, and open an account at a brokerage service, such as Vanguard or Fidelity. By regular contributions and dividend reinvestment, you’ll increase your passive income over time.”

Say you want to get started with REITs, for example. You can go through a platform like Arrived or Fundrise, which gives you access to both commercial and residential properties.

Keep in mind that you’ll typically need to keep your money invested for a long time to see the best returns. Invest only an amount you’re comfortable with. As you start to earn, you can always reinvest your earnings for even higher returns.

If you don’t want your money locked up, you can also invest in REIT stocks, such as Iron Mountain (NYSE: IRM) and Blackstone Mortgage Trust (NYSE: BXMT).

Learn More: I Made $10,000 Using One of Dave Ramsey’s Best Passive Income Ideas

Create and Sell Digital Items

If investing isn’t your preference, or if you don’t have a ton of capital, consider producing and selling something digitally.

“Another passive income opportunity is to sell a digital item like an e-book, an online course or printables,” Kullberg said. “When they’re made, these can be sold again and again without much additional work.”

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As for getting started, you’ve got options.

“Amazon Kindle Direct Publishing, Udemy and Etsy are some great places where you can begin making money from what you know or what you create,” Kullberg said. “It does require some work on the side, but with good marketing, it could generate lots of passive income.”

Peer-to-Peer Lending or Crowdfunding

“You also have peer-to-peer lending and property crowdfunding sites like Fundrise, for passive income,” Kullberg explained. “You can use them to lend money to others or invest in real estate, and then receive an interest return.”

Take peer-to-peer lending as an example. According to Financial Poise, many peer-to-peer loans see returns of 5% to 9% a year. Some investors have reported earning upward of 10% a year.

If you invest $140,000 upfront and earn 9% a year, you’d get a little over $1,000 a month. While this might seem like a lot — and it is — you can start small, continually invest and then reinvest any returns until you reach your goal.

Other Ways To Earn $1,000 a Month Passively

On Kullberg’s website, there’s an article about other ways to earn money passively (with varying returns). While you can — and should — check out the article for details, here are some big ones.

Affiliate marketing Blogging (your own blog) Buying rental properties Renting out a personal vehicle Offering rental storage space to others Creating an email newsletter with links, products or services geared toward making money Building a YouTube channel or other social media platform

Keep in mind that each of these options takes time to set up. The good news is that you don’t always need money to make money. Some options, like creating a YouTube channel or building an online course, can be totally free (though you might want to invest in some basic recording equipment or editing software).

You’ll also generally need to pay taxes on passive income. The way your income is taxed is dependent on the income type, however, as well as how much you earn. You may, for example, be able to offset your taxable income by taking certain deductions (e.g., property depreciation as a deduction for a rental property).

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This article originally appeared on GOBankingRates.com: 10 Ways To Make $1K a Month in Passive Income, According to Erika Kullberg

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