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There are many opportunities out there to make residual income in network marketing. Nonetheless, this is NOT one of these shady things. All these are legit means 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 a lot to buy a home, using a crowdfunding system to invest in property 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 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 start investing in real estate with just as little as 5.
Although they promote an option to start with $500, once you register free of charge you can browse their offerings. They really have a Student Housing REIT which has a minimum investment of $5.
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Their intention is to produce real estate investing accessible to everyone and that's just what they are doing.
Dividend income is money paid to shareholders of stocks in the form of cash 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 every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
If you are 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 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, check out Worthy. They provide $10 bonds and cover a 5% return. One unique thing about them 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, you are able to get it quickly and easily.
The money youre paying in interest to lenders, the you can find out more more money you've got in your pocket each month. Talk about a very simple form of passive income. Getting out of debt fast can increase your income even more because 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. If you have high-interest debt that you want to get a lower interest rate on, have a look at Credible, which offers loan amounts as low as 4.99% for refinancing your credit card debt.
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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 work of creating the book is done, selling novels can be a fantastic way to produce some serious residual income.
Once your book is available his response on a site like Amazon, you can get a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the more time you spend marketing your books, 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 temporary rental on Airbnb. Millions of individuals use Airbnb to find somewhere to stay instead of staying in a resort, sometimes even for months at a time.
You can hire a maid service to clean and prep the space after a guess 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 is a no-brainer. Some folks are making over $50,000 a month like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.
In case you dont have a website, you can begin one for less than $3/month. Thats the price for getting a site sponsor a company that stores your website on servers so it can be seen on the Internet.  Click here to find special pricing of $2.95/month using Bluehost.