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There are so many opportunities out there to make residual income in network marketing. Nonetheless, this is NOT one of those shady things. All these are legit ways 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, since it costs a lot to buy a home, using a crowdfunding system to invest in real estate can be a more affordable option.
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If you want an easy, low-cost way to invest in income-producing commercial real estate, 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 since you can start investing in real estate with just as small as 5.
Even though they promote an option to start with $500, once you register 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 make real estate investing available to everyone and that's exactly what they are doing.
Dividend income is money paid to shareholders of stocks in the form of money 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 every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
If you are going to go this route, ensure 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 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 much 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 pay a 5 percent return. One unique thing about them is that your money is liquid, so that hop over to these guys you can take it out at anytime.
This means if for some reason you need your money back, you are able to access it quickly and easily.
The less money youre paying in interest to lenders, the more money you've got 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 because youre no longer paying interest to creditors every month.
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One method to look at more info speed up your debt payoff would be to decrease your interest rate. If you've got high-interest debt that you want to find a lower interest rate on, check out Credible, which features 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 will 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 fantastic way to produce some severe residual income.
Once your book is available on a site like Amazon, you can get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the longer you spend marketing your publications, the more money youll make.
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Do you have an extra room that you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of individuals use Airbnb to find a place to stay instead of staying at 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 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 really is a no-brainer. Some folks are making over $50,000 a 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 begin one for less than $3/month. Thats the price for getting a website sponsor 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.