Investing in real estate is a great way to collect passive income. You don't need much money to get started. Anyone can invest in real estate investment trusts (REITs) and receive dividend income.

Invitation Homes (NYSE: INVH), Public Storage (NYSE: PSA), and W. P. Carey (NYSE: WPC) are great ways to begin building your real estate empire through REITs. All three should generate steady passive income from real estate that could last a lifetime.

Most beginning real estate investors will purchase a single-family home they rent out to tenants. That strategy has a sizable upfront cost, including the down payment, closing costs, and any repairs and renovations. In addition, managing a rental property isn't exactly passive. You must find the tenant, address any repairs, and manage all the property's accounting. Meanwhile, the passive income can be lumpy if an unexpected expense or vacancy occurs.

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Source Fool.com