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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 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. But since it costs a lot to buy a house, using a crowdfunding platform to invest in real estate can be a less expensive option.
If you want an easy, low-cost method to invest in income-producing commercial real estate, consider using a company like Fundrise. You only need $500 to get started and you can invest in more than 48 property products through real estate investment trusts.
Another company to consider is Rich Uncles as you can begin investing in real estate with as small as 5.
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Although they promote an option to begin 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.
Their goal is to produce real estate investing accessible to everyone and that is exactly what they're doing.
Dividend income is money paid to investors of stocks in the form of money in your bank account. Dividend-paying stocks are especially enticing for those 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. .
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If you're going to go this route, be sure you educate yourself and pick 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 3-8% range, investing money using a company like Lending Club can get you a lot higher income results than a common savings or money market account.
If you're looking for a lower risk option, check out Worthy. They provide $10 bonds and cover a 5 percent return. One unique thing about them is that your money is liquid, so that you can take it out at anytime.
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This means useful reference if for any reason you need your money back, then you are able to access it quickly and easily.
The money youre paying in interest to lenders, the more money you have in your pocket each 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 every month.
One way to boost your debt payoff would be to lower your interest rate. In case you have high-interest debt that you want to find 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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Are you looking for a low-risk method to make passive income Then consider opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% which is unreal.
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 insured.
Once the initial work of creating the book is done, selling books can be a great method to create some severe residual income.
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Once your book is available 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. Evidently, the longer you spend marketing your books, the more money youll make.
You can hire a maid service to clean and prep the room following 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 a 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 a month just like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.
If you dont have a web site, you can start one for less than $3/month. Thats the cost for getting a website host 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 with Bluehost.