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There are many opportunities out there to create residual income in network marketing. Nonetheless, this is NOT one of these shady things. All these are legit ways for you to make money while you sleep with something that fits your passion, experience, or skill-set.
Real estate can be a great way to make money while you sleep. But since it costs a lot to purchase a home, using a crowdfunding system 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 real estate investment trusts.
Another company to consider is Rich Uncles as you can start investing in real estate with as small as 5.
Even though they promote an option to start with $500, once you enroll free of charge you can navigate their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.
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Their intention is to produce real estate investing accessible to everyone and that's just what they're doing.
Dividend income is money paid to shareholders of stocks in the form of cash in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to make a living with passive income, as 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 select solid stocks so that you can depend on for dividend income for years to come.
Peer-to-peer lending is when you loan other folks 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 outcomes than a typical savings or money market account.
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If you're looking for a lower risk option, have a look at Worthy. They provide $10 bonds and cover 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 some reason you need your money back, you can get it quickly and easily.
The money youre paying in interest to lenders, the more money you've got in your pocket every month. Talk about a very simple form 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 method to speed up your debt payoff would be to decrease your interest rate. If you've got high-interest debt that you want to find a lower interest rate on, have a look at Credible, which offers best site loan rates as low as 4.99% to refinancing your credit card debt.
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Although 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 novels can be a great method to produce some severe residual income.
Once your book is available on a website like Amazon, you can get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the more time you spend marketing your publications, the more money youll earn.
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Do you have an excess room which you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of individuals use Airbnb to find a place website link to stay instead of staying in a resort, sometimes even for months at a time.
You can hire a maid service to clean and prep the space 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 a month renting out their spare bedrooms.
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In case you have 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 class Making Sense of Affiliate Marketing.
If you dont have a website, you can start one for less than $3/month. Thats the price for getting a website host a company that stores your website on servers so it can be viewed on the Internet.  Click here to get special pricing of $2.95/month with Bluehost.