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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. All these are legit means for you to make money while you sleep with something that satisfies your passion, experience, or skill-set.
Real estate can be a terrific 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.
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If you want an easy, low-cost way 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 as you can start investing in real estate with as little as $5.
Although they promote an option to start with $500, once you register for free you can browse their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.
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Their intention is to make real estate investing available to everyone and that is exactly what they're doing.
Dividend income is money paid to shareholders of stocks in the shape of cash in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to earn a living with passive income, since they'll get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
If you are going to go this route, make sure 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 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 results 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 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.
This means if for any reason you need your money back, then you can access 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 simple kind of passive income. Getting out of debt about his quickly can increase your income even more since youre no longer paying interest to creditors each month.
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One method to speed up your debt payoff is to lower your interest rate. In case you have high-interest debt that you want to get a lower interest rate on, have a look at Credible, which features loan amounts as low as 4.99% for refinancing your credit card debt.
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Although 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 work of creating the publication is done, selling novels can be a great method to produce some serious residual income.
Once your book is available on a website like Amazon, you can receive a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the more time you spend marketing your publications, the more money youll make.
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Do you have an excess 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 guess 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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If you've got a website already then go to the website this is a no-brainer. Some people are making over $50,000 a month like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
In case you dont have a web site, you can start one for less than $3/month. Thats the price for getting a website host a Recommended Reading 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 with Bluehost.