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There are so many opportunities out there to make residual income in network marketing. However, this is NOT one of these shady things. All these are legit ways for you to earn money while you sleep with something that fits your passion, experience, or skill-set.
Real estate can be a terrific way to generate money while you sleep. However, because it costs so much to purchase a house, using a crowdfunding system to invest in property can be a more affordable option.
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If you want an easy, low-cost method to invest in income-producing commercial property, consider using a company like Fundrise. You only need $500 to get started and you can invest in more than 48 real estate products through property investment trusts.
Another company to consider is Rich Uncles as you can begin investing in real estate with as little as $5.
Even though they promote an option to start with $500, once you enroll free of charge you can navigate their offerings. They actually have a Student Housing REIT which 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 investors of shares in the shape of money in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to earn 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, ensure that you educate yourself and pick solid stocks so you can depend on for dividend income for years to come.
Peer-to-peer lending is when you loan other 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 higher income outcomes than a common savings or money market account.
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If you are looking for a lower risk option, check out Worthy. They offer $10 bonds and cover a 5% return. One unique thing about these is that your money is liquid, which means you can take it out at anytime.
This means if for any reason you need your money back, you can get it quickly and easily.
The less money youre paying in interest to lenders, the more money you've got in your pocket every month. Talk about a simple form of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to creditors every month.
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One method to boost your debt payoff would be to decrease your interest rate. In case you have high-interest debt you want to get 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 create consistent income and not lose your money since CIT FDIC insured.
Once the initial task of creating the publication is done, selling books can be a great way to produce some severe residual income.
Once your book can be found on a website like Amazon, you could 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 publications, the more money youll make.
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Do you have an excess room that you seldom use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of people use Airbnb to find somewhere to stay instead of staying in a resort, sometimes even for months at a time.
You can hire a maid service to clean and prep the space after a suspect leaves. This will eliminate work on your end and make it truly passive income. My friend Steve and his wife make Continue over $1000 a month renting out their spare bedrooms.
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If you've got a site already then this is a no-brainer. Some folks are making over $50,000 a month like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.
In case you dont have a website, you can begin one for less than $3/month. Thats the cost for getting a site sponsor a company that stores your website on servers so that it can be seen on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.