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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 means for you to make 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. However, since it costs a lot to purchase a house, 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 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 property investment trusts.
Another company to consider is Rich Uncles as you can start investing in real estate with just as little as 5.
Although they promote an option to begin with $500, once you register for free you can navigate their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.
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Their goal is to make real estate investing accessible to everyone and that is exactly what they are doing.
Dividend income is money paid to investors of stocks in the form of money in your bank account. Dividend-paying stocks are particularly 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're going to go this route, make sure you educate yourself and pick solid stocks so that you can depend on for dividend income for 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 using a company like Lending Club can get you much greater income results than a common savings or money market account.
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If you are looking for a lower risk option, have a look at Worthy. They provide $10 bonds and pay a 5% return. One unique thing about them 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, then you can 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 fast can increase your income even more since youre no longer paying interest to creditors each month.
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One method to boost your debt payoff would be to lower your interest rate. In case you've got high-interest debt you want to get a lower interest rate on, check out Credible, which features loan rates as low as 4.99% to refinancing your credit card debt.
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While 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 task of creating the book is done, selling novels can be a fantastic way to produce some severe residual income.
Once your book is available 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 books, the more money youll make.
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Do you have an extra 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 in a resort, sometimes even for months at a time.
You can hire a maid service to clean and prep the room after a guess leaves. This will eliminate work on look at these guys your end and make it truly passive income. My friend Steve and his wife make over review $1000 per month renting out their spare bedrooms.
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If you have a site already then this really is a no-brainer. Some people are making over $50,000 per month just like Michelle who teaches others how to make money online with her course 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 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.