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There are many opportunities out there to create residual income in network marketing. However, this is NOT one of those 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 generate money while you sleep. But since it costs a lot to buy a home, using a crowdfunding platform to invest in real estate can be a more affordable 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 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 start investing in real estate with as little as $5.
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Even though 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 which has a minimum investment of $5.
Their intention is to produce real estate investing accessible to everyone and that's 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 especially 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. .
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If you are going to go this route, make certain that you educate yourself and select solid stocks so you can depend on for dividend income for years to come.
Peer-to-peer lending is when you loan other folks 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 a lot higher income outcomes than a common savings or money market account.
If you are looking for a lower risk option, have a look at Worthy. They provide $10 bonds and pay a 5% return. One unique thing about them is that your money is liquid, so you can take it out at anytime.
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This means if for any 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 have in your pocket every 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 creditors each month.
One method to speed up your debt payoff would be to decrease your interest rate. In case you have high-interest debt you want to find a lower interest rate on, have a look at 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 see here 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 greater than traditional banks. CIT is currently are paying 1.55percent that's unreal.
While this wont make you filthy rich, it'll be a safer way to make consistent income and not lose your money since CIT FDIC insured.
Once the initial task of creating the publication is done, selling books can be a fantastic way to produce some severe residual income.
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Once your book can be found on a site like Amazon, you could get a 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 books, the more money youll make.
You can hire a maid service to clean and prep the room 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 per month renting out their bedrooms.
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In case you've got a website 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.
If you dont have a website, you can begin one for less than $3/month. Thats the cost for getting a website sponsor a company that stores your site on servers so it can be seen on the Internet.  Click here to get special pricing of $2.95/month using Bluehost.