How do you develop a passive income stream?

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Passive income streams work well if the assets you are buying are higher quality and pay a high enough amount to have it make sense. Rather than small ideas I will give you the two main ways (bonds and being a limited partner) to buy as much passive income as you would like to have.

There are many ways to develop a passive income such as:

Corporate income bonds - stay away from government bonds they are too low the return to be worth buying. Ideally is actually private company bonds since the returns are a lot higher. It is important to look at companies where their bonds are backed by hard assets such as real estate or mortgages. For example, Alamo Mortgage Holdings offers a corporate income bond backed by packages of mortgages.
Become a limited partner in a multifamily real estate investors’s syndicate. The multifamily investor you want to find one that is buying a large apartment complex with more than 100 units. You just invest 100,000 to 1,000,000 with them as a limited partner.

I hope that helps and wish you good luck in your investing!