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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 great way to generate money while you sleep. However, since it costs a lot to purchase a house, using a crowdfunding platform to invest in real estate can be a more affordable 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 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 little as 5.
Although they promote an option to begin with $500, once you enroll 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 produce real estate investing available to everyone and that is just what they're doing.
Dividend income is money paid to investors of shares in the shape of cash in your bank account. Dividend-paying stocks are especially enticing for those 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're going to go this route, ensure that you educate yourself and pick solid stocks so that 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 3-8percent 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 you can take it out at anytime.
This means if for some reason you need your money back, then you are able to get it quickly and easily.
The less money youre paying in interest to lenders, the more money you have in your pocket each month. Talk about a simple kind of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to lenders each month.
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One way to speed up your debt payoff is to decrease your interest rate. In case you have high-interest debt you want to get a lower interest rate on, have a look at Credible, which features loan rates as low as 4.99% for refinancing your credit card debt.
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Although 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 books can be a great way to produce some severe residual income.
Once your book can be found on a website like Amazon, you could get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your publications, the more money youll make.
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Have you got an extra room that you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb. Millions of individuals use Airbnb to find a place to stay instead of staying in 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 will eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 a month renting out their bedrooms.
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If you have a website already then this really is a no-brainer. Some folks are making over $50,000 a 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 website, 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 viewed on the Internet.  Click here to find go right here special pricing of $2.95/month using Bluehost.