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There are so many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. These are legit ways for you to earn money while you sleep with something that satisfies your passion, experience, or skill-set.
Real estate can be a terrific way to make money while you sleep. However, because it costs so much to buy a house, using a crowdfunding platform to invest in property can be a less expensive option.
If you want an easy, low-cost method 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 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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Even though they promote an option to start with $500, once you register free of charge you can navigate their offerings. They really have a Student Housing REIT that has a minimum investment of $5.
Their intention is to produce real estate investing accessible to everyone and that is just what they're doing.
Dividend income is money paid to investors of shares in the form of cash in your bank account. Dividend-paying stocks are particularly enticing for those 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, make certain 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 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 higher income outcomes than a common savings or money market account.
If you're looking for a lower risk option, check out Worthy. They provide $10 bonds and cover a 5% return. One unique thing about them is that your money is liquid, which means you can take it out at anytime.
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This means if for some reason you need your money back, you are able to access it quickly and easily.
The money youre paying in interest to creditors, the more money you have in your pocket every month. Talk about a simple form of passive income. Getting out of debt fast can increase your income even more because youre no longer paying interest to creditors each month.
One method to speed up your debt payoff is 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 card debt.
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Are you looking for a low-risk method to produce passive income Then look at opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent that's unreal.
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 books can be a great method to produce some serious residual income.
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Once your book can be found on a website like Amazon, you can get a check every 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.
You can hire a maid service to clean and prep the space following 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 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 people are making over $50,000 per month like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
If you dont have a website, you can start one for less than $3/month. Thats the price for getting a site sponsor a company that stores your website on servers so that it can be seen on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.