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There are many opportunities out there to make residual income in network marketing. Nonetheless, this is NOT one of those shady things. These are legit means for you to make money while you sleep with something that satisfies your passion, experience, or skill-set.
Real estate can be a great way to generate money while you sleep. However, because it costs a lot to purchase a house, using a crowdfunding system to invest in property can be a less expensive option.
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 small as 5.
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Even though they promote an option to begin with $500, once you register free of charge you can navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.
Their goal is to produce real estate investing accessible to everyone and that's 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 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. .
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If you are going to go this route, make sure that 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 additional folks money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money with a company like Lending Club can get you a lot higher income results than a common savings or money market account.
If you are looking for a lower risk option, check out Worthy. They offer $10 bonds and pay a 5% return. One unique thing about them is that your money is liquid, which means you can take it out at anytime.
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This means if for some reason you need your money back, you can access it quickly and easily.
The money youre paying in interest to creditors, the more money you have in your pocket each month. Talk about a 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.
One way to boost your debt payoff would be to decrease your interest rate. If you have high-interest debt that a knockout post you want to get a lower interest rate on, check out Credible, which offers loan amounts as low as 4.99% for refinancing your credit card debt.
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Are you looking for a low-risk method to produce passive income Then look at opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55percent which is unreal.
While 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 book is done, selling books can be a great method to produce some serious residual income.
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Once your book can be found on a website 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. Evidently, the longer you spend marketing your publications, the more money youll earn.
You can hire a maid service to clean and prep the space after 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 per month renting out their spare bedrooms.
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In case you've got a website already then this is a no-brainer. Some folks are making over $50,000 a month just like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
If you dont have a website, you can start one for less than $3/month. Thats the cost for getting a site host a company that stores your website on servers so it can be viewed on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.