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There are so many opportunities out there to create residual income in network marketing. Nonetheless, this is NOT one of those shady things. 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 great way to generate money while you sleep. But because it costs so much to buy 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 method to invest in income-producing commercial real estate, consider using a company like Fundrise. You only need $500 to begin 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 start investing in real estate with just as small as 5.
Even though they promote an option to begin with $500, once you register for free you can browse their offerings. They really have a Student Housing REIT that has a minimum investment of $5.
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Their goal is to produce real estate investing accessible to everyone and that is just 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 individuals wanting to make a living with passive income, since 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 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 with a company like Lending Club can get you a lot higher income outcomes than a common 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 pay a 5% return. One unique thing about them is that your money is liquid, so you can take it out at anytime.
This means if for any reason you need your money back, then you are able to access it quickly and easily.
The less money youre paying in interest to creditors, the more money you've got 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 since youre no longer paying interest to creditors every month.
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One method to boost your debt payoff is to lower your interest rate. In case you have high-interest debt that you want to find a lower interest rate on, check out 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 create 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 is available on a website like Amazon, you could get a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your publications, the more click to read more money youll earn.
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Have you got an excess 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 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 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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In case you've got a site already then this really is a no-brainer. Some article people are making over $50,000 per month like Michelle who teaches others how to earn money online with her class Making Sense of Affiliate Marketing.
In case you dont have a website, 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 that it can be seen on the Internet.  Click here to get special pricing of $2.95/month with Bluehost.