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There are so many opportunities out there to create residual income in network marketing. Nonetheless, this is NOT one of those shady things. 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 because it costs a lot to purchase a house, using a crowdfunding platform to invest in property can be a less expensive option.
If you want an easy, low-cost method 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 as 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 navigate their offerings. They really have a Student Housing REIT that has a minimum investment of $5.
Their goal is to make real estate investing accessible to everyone and that is just 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 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're going to go this route, make sure that you educate yourself and pick solid stocks so you can depend on for dividend income for many 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 higher income results than a common savings or money market account.
If you're looking for a lower risk option, check out Worthy. They provide $10 bonds and pay a 5 percent return. One unique thing about these is that your money is liquid, which means you can take wikipedia reference it out at anytime.
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This means if for some reason you need your money back, you can get it quickly and easily.
The less money youre paying in interest to lenders, 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 creditors every month.
One method to speed up your debt payoff is to decrease your interest rate. In case you've got high-interest debt that you want to get a lower interest rate on, have a look at Credible, which offers loan rates as low as 4.99% for refinancing your credit card debt.
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Are you looking for a low-risk method to produce passive income Then look at opening a high-yield savings account with an online bank like CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% that's unreal.
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 novels can be a fantastic method to create some serious residual income.
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Once your book is available on a website like Amazon, you could get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the longer you spend marketing your books, the more money youll make.
You can hire a maid service to clean and prep the space 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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In case you've got a site already then this 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 class Making Sense of Affiliate Marketing.
In case you dont have a website, you can begin one for less than $3/month. Thats the cost for getting a website sponsor a company that stores your site on servers so it can be viewed on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.