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There are so many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. These are legit means 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 so much to buy a home, using a crowdfunding system to invest in property can be a less expensive 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 get started and you can invest in more than 48 property products through real estate investment trusts.
Another company to consider is Rich Uncles since you can start investing in real estate with just as little as 5.
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Although they promote an option to begin with $500, once you enroll for free you can browse their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.
Their goal is to make real estate investing accessible to everyone and that is just what they're doing.
Dividend income is money paid to investors of shares in the shape of cash in your bank account. Dividend-paying stocks are particularly enticing for those wanting to earn 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, make sure 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 additional 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 much higher income results than a common savings or money market account.
If you are looking for a lower risk option, have a look at Worthy. They offer $10 bonds and cover a 5 percent return. One unique thing about them is that your money is liquid, which means you can take it out at anytime.
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This means if for some reason you need your money back, then you are able to get it quickly and easily.
The less money youre paying in interest to go to my blog creditors, the more money you have in your pocket every month. Talk about a very simple form of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to lenders every month.
One method to boost your debt payoff would be to lower your interest rate. If you have high-interest debt that you want to get a lower interest rate on, check out Credible, which features loan amounts as low as 4.99% to refinancing your credit card basics debt.
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Are you looking for a low-risk method to produce passive income Then consider opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent which is unreal.
While 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 book is done, selling novels can be a great way to produce some severe residual income.
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Once your book can be found on a website like Amazon, you can receive 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 make.
You can hire a maid service to clean and prep the room after a guess 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 bedrooms.
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If you have a website already then this really is a no-brainer. Some folks are making over $50,000 per month like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.
If you dont have a web site, you can begin one for less than $3/month. Thats the price for getting a website host 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 using Bluehost.