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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 with something that satisfies your passion, experience, or skill-set.
Real estate can be a terrific way to make money while you sleep. However, because 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 method 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 real estate products through property investment trusts.
Another company to consider is Rich Uncles as you can begin investing in real estate with just as little as 5.
Even though they promote an option to start with $500, once you enroll for free you can navigate their offerings. They really have a Student Housing REIT which has a minimum investment of $5.
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Their goal is to produce real estate investing accessible to everyone and that's just what they're doing.
Dividend income is money paid to shareholders of shares in the form of money in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to earn 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're going to go this route, ensure that you educate yourself and pick solid stocks so that 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 using a company like Lending Club can get you a lot higher income results than a typical savings or money market account.
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If you are looking for a lower risk option, check out Worthy. They provide $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, so you can take it out at anytime.
This means if for any reason you need your money back, then you are able to access it quickly and easily.
The less money youre paying in interest to lenders, the more money you have in your pocket each month. Talk about a very simple kind of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to creditors each month.
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One way to boost your debt payoff is to lower your interest rate. In case you have high-interest debt you want to get a lower interest rate on, check out Credible, which features loan amounts as low as 4.99% to refinancing your credit card debt.
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While this wont make you filthy rich, it will 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 method to produce some severe residual income.
Once your book can be found on a website like Amazon, you can get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the longer you spend marketing your publications, the more money youll earn.
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Have you got an extra room that 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 a place to stay instead of staying at a hotel, sometimes even for months at a time.
You can hire a maid service Look At This to clean and prep the room after a suspect leaves. This may eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 per 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 per month just like Michelle who teaches others how to make money online with her class Making Sense of Affiliate Marketing.
If you dont have a website, you can begin one for less than $3/month. Thats the price for getting a website host a company that stores your website on servers so it can be seen on the Internet.  Click here to get special pricing of $2.95/month with Bluehost.