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There are so many opportunities out there to create residual income in network marketing. Nonetheless, this is NOT one of these shady things. These are legit ways for you to make money while you sleep using something that fits your passion, experience, or skill-set.
Real estate can be a terrific way to make money while you sleep. But because it costs so much to buy a home, using a crowdfunding platform to invest in property can be a less expensive option.
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 begin and you can invest in more than 48 real estate products through real estate investment trusts.
Another company to consider is Rich Uncles since you can begin investing in real estate with as small as 5.
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Although they promote an option to begin with $500, once you enroll for free you can browse 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 is just 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 particularly enticing for individuals wanting to make a living with passive income, since they'll 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, be 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 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 greater income results than a typical savings or money market account.
If you're looking for a lower risk option, check out Worthy. They provide $10 bonds and pay a 5 percent return. One unique thing about these is that your money is liquid, so you can take it out at anytime.
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This means if for some reason you need your money back, then you can access it quickly and easily.
The less 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 quickly can increase your income even more because youre no longer paying interest to creditors every month.
One way to speed up your debt payoff is to decrease your interest rate. In case you have high-interest debt you want to find a lower interest rate on, check out Credible, which offers loan rates as low as 4.99% to refinancing your credit card debt.
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Are you looking for a low-risk method to make passive income Then consider opening a high-yield savings account with an online bank like CIT Bank that pays 19 times more see this page 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 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 method to produce some severe residual income.
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Once your book is available on a site like Amazon, you can receive a Learn More check each month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the longer you spend marketing your publications, the more money youll earn.
You can hire a maid service to clean and prep the room following 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 have a site already then this really is a no-brainer. Some people are making over $50,000 per month 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 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 find special pricing of $2.95/month using Bluehost.