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There are many opportunities out there to make residual income in network marketing. However, 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 great way to generate money while you sleep. However, because it costs so much to purchase a home, 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 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 really have a Student Housing REIT which has a minimum investment of $5.
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Their intention is to produce real estate investing available to everyone and that's just what they are doing.
Dividend income is money paid to investors of stocks in the shape of cash in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to earn a living with passive income, as 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, ensure you educate yourself and pick solid stocks so you can depend on for dividend income for 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 3-8% range, investing money using a company like Lending Club can get you much greater income outcomes than a common savings or money market account.
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If you are 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 these is that your money is liquid, so that you can take it out at anytime.
This means if for some reason you need your money back, you are able to get it quickly and easily.
The less money youre paying in interest to lenders, the more money you've got in your pocket every 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 way to speed up your debt payoff would be to decrease your interest rate. If you have high-interest debt you want to get a lower interest rate on, check out Credible, which features loan rates as low as 4.99% for refinancing your credit Home Page 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 task of creating the book is done, selling novels can be a fantastic method to produce some severe residual income.
Once your book can be found on a site like Amazon, you can receive a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the longer you spend marketing your books, the more money youll earn.
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Have you got an extra room that you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of people 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 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 bedrooms.
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In case you've got a site 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 course Making Sense of Affiliate Marketing.
If you dont have a web site, you can start one for less than $3/month. Thats the price for getting a website sponsor a company that stores your website on servers so that it can be viewed on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.