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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. These are legit ways for you to earn money while you sleep using something that satisfies your passion, experience, or skill-set.
Real estate can be a terrific way to make money while you sleep. But since it costs a lot to buy a house, using a crowdfunding system 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 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 enroll free of charge you can navigate their offerings. They really have a Student Housing REIT which has a minimum investment of $5.
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Their goal is to make real estate investing available to everyone and that is exactly what they're doing.
Dividend income is money paid to investors of stocks in the form of cash in your bank account. Dividend-paying stocks are particularly enticing for individuals wanting to make a living with passive income, since they will get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
If you're going to go this route, ensure 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 a lot higher income outcomes than a typical savings or money market account.
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If you are looking for a lower risk option, have a look at Worthy. They offer $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 creditors, the more money you've got in your pocket each month. Talk about a very 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.
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One way to boost your debt payoff would be to decrease your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, check out Credible, which features loan rates as low as 4.99% to refinancing your credit card debt.
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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 Web Site insured.
Once the initial task of creating the book is done, selling books can be a fantastic way to produce some severe residual income.
Once your book can be found on a site like Amazon, you can receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the longer you spend marketing your publications, the more money youll earn.
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Do you have an extra 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 somewhere to stay instead of staying at a hotel, sometimes even for months at a time.
You can hire a maid service to clean and prep the room following 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 spare bedrooms.
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If 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 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 cost for getting a website sponsor a company that stores your website on servers so that it can be viewed on the Internet.  Click here to get special pricing of $2.95/month with Bluehost.