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There are so many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. All these are legit means for you to earn money while you sleep using something that satisfies your passion, experience, or skill-set.
Real estate can be a great way to generate money while you sleep. However, since it costs a lot to purchase a house, using a crowdfunding system to invest in real estate can be a less expensive option.
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If you want an easy, low-cost way to invest in income-producing commercial property, 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 since you can begin investing in real estate with just as small as 5.
Even though they promote an option to begin with $500, once you register for free you can navigate their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.
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Their goal is to produce real estate investing available to everyone and that is just what they're doing.
Dividend income is money paid to investors of stocks in the shape of cash in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to make a living with passive income, since they will get payouts each quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
If you're going to go this route, make sure that you educate yourself and pick solid stocks so that you can depend on for dividend income for many years to come.
Peer-to-peer lending is when you loan additional folks money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money using a company like Lending Club can get you a lot higher income outcomes than a typical savings or money market account.
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If you're looking for a lower risk option, check out Worthy. They offer $10 bonds and pay a 5 percent return. One unique thing about them 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 can get 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 since youre no longer paying interest to lenders every month.
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One way to speed up your debt payoff would be to decrease your interest rate. If you've got high-interest debt that you want to find a lower interest rate on, have a look at Credible, which features loan amounts as low as 4.99% to refinancing your credit card debt.
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Although 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 work of creating the publication is done, selling novels can be a fantastic way to create some serious residual income.
Once your book is available on a site like Amazon, you can get a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer you spend marketing your books, the more money youll earn.
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Do you have an extra room that you seldom use Why not like it rent it out to someone looking for a temporary 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 service to clean and prep the room after a suspect leaves. This will 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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If you've got a website already then this really is a no-brainer. Some folks are making over $50,000 per month just like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.
In case you dont have a web site, you can begin one for less than $3/month. Thats the cost for getting a website sponsor a company that stores your site on servers so it can be seen on the Internet.  Click here to get special pricing of $2.95/month with Bluehost.