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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 earn 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 because it costs a lot to buy a house, using a crowdfunding system 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 begin and you can invest in more than 48 real estate products through real estate investment trusts.
Another company to consider is Rich Uncles as you can begin investing in real estate with just as small as 5.
Although they promote an option to begin with $500, once you enroll free of charge you can navigate 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 is exactly what they are 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're going to go this route, ensure that you educate yourself and select 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 3-8percent 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're looking for a lower risk option, have a look at Worthy. They provide $10 bonds and cover 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 any reason you need your money back, then you are able to get it quickly and easily.
The money youre paying in interest to creditors, the more money you have in your pocket every month. Talk about a simple kind of passive income. Getting out of debt fast can increase your income even more since youre no longer paying interest to lenders each month.
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One method to boost your debt payoff is to decrease your interest rate. If you have high-interest debt that you want to get a lower interest rate on, have a look at Credible, which offers 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'll be a safer way to create consistent income and not lose your money since CIT FDIC insured.
Once the initial work of creating the book is done, selling novels can be a great way to produce some severe residual income.
Once your book can be found on a site like Amazon, you could get a check every 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 make.
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Have you got an extra room which you seldom use Why not 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 hotel, sometimes even for months at a time.
You can hire a maid service to clean and prep the space following 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 per month renting out their bedrooms.
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In case you have a website already then this really is a no-brainer. Some people are making over $50,000 per month like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
In case you dont have a website, you can start one check out here for less than $3/month. Thats the price for getting a site host a company that stores your site on servers so that it can be seen on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.