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There are many opportunities out there to make residual income in network marketing. However, this is NOT one of these shady things. These are legit means for you to make money while you sleep using something that fits your passion, experience, or skill-set.
Real estate can be a great way to make money while you sleep. But because it costs a lot to buy a house, using a crowdfunding platform to invest in real estate can be a more affordable 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 property investment trusts.
Another company to consider is Rich Uncles as you can start investing in real estate with just as little as 5.
Even though they promote an option to start with $500, once you register for free you can browse 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 accessible to everyone and that's exactly what they are doing.
Dividend income is money paid to investors 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 each 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 many years to come.
Peer-to-peer lending is when you loan additional people money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money using a company like Lending Club can get you a lot greater income results than a typical savings or money market account.
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If you are 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 that you can take it out at anytime.
This means if for some reason you go to this site need your money back, then 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 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 each month.
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One method to speed up your debt payoff would be to decrease 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 offers 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 will be a safer way to make consistent income and not lose your money since CIT FDIC insured.
Once the initial task of creating the book is done, selling books can be a great way to create some serious residual income.
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 books, the more money youll earn.
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Have you got an excess room which you seldom use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of individuals use Airbnb to find a place 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 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 spare bedrooms.
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If you have a site already then this really is a no-brainer. Some folks are making over $50,000 per month just like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.
In case you dont have a web site, you can begin one for less than $3/month. Thats the price for getting a website sponsor a company that stores your site on servers so that it can be viewed on the Internet. Click here to get special pricing of $2.95/month with Bluehost.