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There are so many opportunities out there to create residual income in network marketing. Nonetheless, this is NOT one of those shady things. These are legit means for you to earn money while you sleep using something that fits your passion, experience, or skill-set.
Real estate can be a great way to make money while you sleep. But since it costs a lot to purchase a home, using a crowdfunding platform to invest in property can be a less expensive 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 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 register for free you can navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.
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Their goal 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 cash in your bank account. Dividend-paying stocks are especially 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 are going to go this route, make sure 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 other folks 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 greater income outcomes than a typical savings or money market account.
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If you're looking for a lower risk option, have a look at Worthy. They offer $10 bonds and cover a 5% 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 any reason you need your money back, then you can access it quickly and easily.
The money youre paying in interest to creditors, the more money you've got in your pocket each check it out month. Talk about a simple kind of passive income. Getting out of debt fast can increase your income even more because 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've got high-interest debt you want to get a lower interest rate on, check out Credible, which offers 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 create 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 create 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. Evidently, the more time you spend marketing your books, the more money youll earn.
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Do you have an extra room which you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of people use Airbnb to find a place 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 room following 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 people are making over $50,000 per month just like Michelle who teaches others how to earn money online with her class Making Sense of Affiliate Marketing.
In case you dont have a web site, you can start 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 viewed on the Internet.  Click here to get special pricing of $2.95/month using Bluehost.