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There are many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. All 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 great way to generate money while you sleep. However, since it costs a lot to purchase a home, using a crowdfunding system to invest in real estate can be a more affordable option.
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 real estate investment trusts.
Another company to consider is Rich Uncles as you can begin investing in real estate with just as little as 5.
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Although 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 that has a minimum investment of $5.
Their goal is to make 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 shape 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 every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
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If you are going to go this route, be certain 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 people 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 greater income results than a common savings or money market account.
If you are looking for a lower risk option, check out Worthy. They provide $10 bonds and pay a 5% return. One unique thing about these is that your money is liquid, which means you can take it out at anytime.
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This means if for any reason you need your money back, you are able to get it quickly and easily.
The less money youre paying in interest to lenders, the more money you've got in your pocket each month. Talk about a simple kind of passive income. Getting out of debt quickly can increase your income even more because youre no longer paying interest to creditors every month.
One way to speed up your debt payoff would be to lower your interest rate. If you have high-interest debt you want to get a lower interest rate on, have a look at Credible, which offers loan rates as low as 4.99% to refinancing your credit card debt.
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Are you looking for a low-risk way to make passive income Then look at opening a high-yield savings account with an online bank like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55percent that's unreal.
While see 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 task of creating the publication is done, selling books can be a great method to create some serious residual income.
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Once your book can be found on a website like Amazon, you could 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 make.
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 look at this now per month renting out their bedrooms.
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If you've got a site already then this really is a no-brainer. Some folks are making over $50,000 a month just like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
If you dont have a website, you can begin one for less than $3/month. Thats the price for getting a website host a company that stores anchor your site on servers so it can be seen on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.