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There are so many opportunities out there to create residual income in network marketing. However, this is NOT one of those shady things. These are legit means for you to make money while you sleep using something that satisfies your passion, experience, or skill-set.
Real estate can be a terrific way to generate money while you sleep. But since it costs a lot to buy a house, using a crowdfunding platform to invest in property can be a more affordable option.
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If you want an easy, low-cost way to invest in income-producing commercial real estate, consider using a company like Fundrise. You only need $500 to begin and you can invest in more than 48 property products through property investment trusts.
Another company to consider is Rich Uncles as you can start investing in real estate with as little as $5.
Even though they promote an option to begin with $500, once you enroll for free you can browse their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.
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Their intention is to make real estate investing available to everyone and that's just what they're doing.
Dividend income is money paid to shareholders of stocks in the shape of money in your bank account. Dividend-paying stocks are particularly enticing for those wanting to make a living with passive income, since they'll get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
If you are going to go this route, make sure that you educate yourself and pick solid stocks so you can depend on for dividend income for many years to come.
Peer-to-peer lending is when you loan additional people money who dont qualify for traditional financing. With investment returns in the 3-8% range, investing money with a company like Lending Club can get you much greater income results than a typical savings or money market account.
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If you are looking for a lower risk option, have a look at Worthy. They provide $10 bonds and cover a 5% return. One unique thing about these is that your money is liquid, so that you can take it out at anytime.
This means if for some reason you need your money back, then you are able to access it quickly and easily.
The less money youre paying in interest to creditors, the more money you have in your pocket each month. Talk about a very simple form of passive income. Getting out of debt fast can increase your income even more because youre no longer paying interest to creditors each month.
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One way to boost your debt payoff would be to lower your interest rate. In case you have high-interest debt you want to find a lower interest rate on, have a look at Credible, which features loan rates as low as 4.99% for refinancing your credit card debt.
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While this wont make you filthy rich, it'll be a safer way to make consistent income and not lose your money since CIT FDIC insured.
Once the initial task of creating the book is done, selling novels can be a fantastic method to produce some severe residual income.
Once your book can be found on a site like Amazon, you can get a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your books, the more money youll earn.
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Have you got an extra room which you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb. Millions of individuals use Airbnb to find somewhere to stay instead of staying at a resort, sometimes even for months at a time.
You can hire a maid this contact form service to clean and prep the space after a guess leaves. This may eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 a month renting out their spare bedrooms.
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In case you have a website already then this is a no-brainer. Some folks are making over $50,000 a month like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
If you dont have a web site, you can start one for less than $3/month. Thats the price for getting a site sponsor a company that stores your website on servers so it can be viewed on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.