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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 satisfies your passion, experience, or skill-set.
Real estate can be a great way to make money while you sleep. However, since it costs a lot to purchase 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 real estate, consider using a company like Fundrise. You only need $500 to get started and you can invest in more than 48 real estate products through real estate investment trusts.
Another company to consider is Rich Uncles since you can start investing in real estate with as small as $5.
Although they promote an option to begin with $500, once you register 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 exactly what they are doing.
Dividend income is money paid to investors of shares in the shape of money in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to earn a living with passive income, as they'll get payouts each 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 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 3-8% range, investing money with 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 percent return. One unique thing about these is that your money is liquid, which means that you can take it out at anytime.
This means if for some reason you need your money back, you can access it quickly and easily.
The less money youre paying in interest to creditors, the more money you have in your pocket every month. Talk about a 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 way to speed up your debt payoff is to lower your interest rate. If you have high-interest debt that you want to get a lower interest rate on, have a look at Credible, which features loan amounts 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 make consistent income and not lose your money since CIT FDIC insured.
Once the initial work of creating the publication is done, selling books can be a great method to produce some severe residual income.
Once your book can be found on a website like Amazon, you could receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the longer you spend marketing your publications, the more money youll make.
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Have you got an excess room that you seldom 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 in a hotel, sometimes even for months at a time.
You can hire a maid service to clean and prep the space following a suspect leaves. This may 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 folks are making over $50,000 per month just like Michelle who teaches others how to make internet money online with her class 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 website on servers so that it can be viewed on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.