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There are 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 with something that satisfies your passion, experience, or skill-set.
Real estate can be a great way to generate money while you sleep. But since it costs so much to purchase a house, using a crowdfunding platform to invest in real estate 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 get started 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 little as 5.
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Although they promote an option to start with $500, once you enroll for free you can navigate their offerings. They really have a Student Housing REIT that has a minimum investment of $5.
Their goal is to produce real estate investing available to everyone and that is exactly what they're doing.
Dividend income is money paid to investors of shares in the form of money in your bank account. Dividend-paying stocks are particularly enticing for those wanting to earn a living with passive income, as 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're going to go this route, make sure that you educate yourself and select solid stocks so that 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 a lot higher income outcomes 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 that 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 get it quickly and easily.
The less money youre paying in interest to creditors, the more money you've got in your pocket every month. Talk about a simple kind of passive income. Getting out of debt fast can increase your income even more because youre no longer paying interest to creditors every month.
One method to speed up your debt payoff is to decrease your interest rate. If you have high-interest debt that you want to find a lower interest rate on, check out Credible, which offers loan amounts as low as 4.99% to refinancing your credit card debt.
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Are you looking for a low-risk way to make passive income Then consider 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 1.55% that's unreal.
Although this wont make you filthy rich, it will 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 novels can be a fantastic way to create some severe residual income.
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Once your book is available on a site like Amazon, you could receive a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your books, the more money youll make.
You can hire a maid service to clean and prep the space 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 a month renting out their bedrooms.
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If you've got a site already then this really is a no-brainer. Some people are making over $50,000 per month just like Michelle who teaches others how to make money online with her class Making Sense of Affiliate Marketing.
In case you dont have a website, you can start one for less than $3/month. Thats the cost for getting a site sponsor a company that stores your website on servers so it can be viewed on the Internet.  Click here to get special pricing YOURURL.com of $2.95/month using Bluehost.