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There are so many opportunities out there to make residual income in network marketing. However, this is NOT one of these shady things. All these are legit ways for you to make money while you sleep using something that fits your passion, experience, or skill-set.
Real estate can be a great way to generate money while you sleep. However, because it costs so much to purchase a house, using a crowdfunding platform to invest in property 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 get started and you can invest in more than 48 property products through real estate investment trusts.
Another company to consider is Rich Uncles as you can start investing in real estate with as little as 5.
Although they promote an option to begin with $500, once you register for free you can browse their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.
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Their goal is to make real estate investing available to everyone and that is exactly what they're doing.
Dividend income is money paid to investors of shares in the form of money in your bank account. Dividend-paying stocks are particularly enticing for those wanting to earn 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 additional 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 higher income outcomes than a common savings or money market account.
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If you are looking for a lower risk option, check out Worthy. why not check here 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.
This means if for any reason you need your money back, then you can access it quickly and easily.
The money youre paying in interest to creditors, the more money you have in your pocket each month. Talk about a very simple kind of passive income. Getting out of debt quickly can increase your income even more because youre no longer paying interest to lenders each month.
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One method to speed up your debt payoff is to decrease your interest rate. If you have high-interest debt you want to get a lower interest rate on, have a look at Credible, which features loan amounts as low as 4.99% for refinancing your credit card debt.
Are you looking for a low-risk way 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 1.55% that's unreal.
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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 work of creating the book is done, selling novels can be a great way to produce some serious residual income.
Once your book can be found 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 essential. Obviously, the longer you spend marketing your publications, the more money youll make.
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Have you got an excess room that you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb. Millions of individuals use Airbnb to find somewhere to stay instead of staying at a resort, sometimes even for months at a time.
You can hire a maid service to clean and prep the room 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 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 like Michelle who teaches others how to earn money online with her class 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 site host a company that stores your site on servers so it can be viewed on the Internet. Click here to get special pricing of $2.95/month using Bluehost.