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There are many opportunities out there to create residual income in network marketing. However, this is NOT one of these shady things. These are legit ways for you to make money while you sleep using something that satisfies your passion, experience, or skill-set.
Real estate can be a great way to make money while you sleep. But since it costs a lot to buy a home, using a crowdfunding system to invest in property can be a more affordable option.
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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 begin 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 begin investing in real estate with just as small as $5.
Although they promote an option to start with $500, once you enroll free of charge you can navigate their offerings. They really have a Student Housing REIT that has a minimum investment of $5.
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Their goal is to produce real estate investing available to everyone and that's just what they are doing.
Dividend income is money paid to investors of stocks in the shape of cash in your bank account. Dividend-paying stocks are especially enticing for those wanting to make a living with passive income, as they'll 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, 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 additional people money who dont qualify for traditional financing. With investment returns in the 3-8percent range, investing money with a company like Lending Club can get you a lot higher income results 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 offer $10 bonds and pay a 5 percent return. One unique thing about them is that your money is liquid, so that you can take it out at anytime.
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 creditors, the more money you've got in your pocket each month. Talk about a very simple kind of passive income. Getting out of debt quickly can increase address your income even more since youre no longer paying interest to lenders each month.
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One way to boost your debt payoff would be to lower 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% to refinancing your credit card debt.
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While this wont make you filthy rich, it'll 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 fantastic method to create some severe residual income.
Once your book can be found on a website like Amazon, you can receive a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the more time you spend marketing your publications, the more money youll earn.
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Have you got an extra room that you seldom use Why not rent it out to someone looking for a short-term rental on Airbnb. Millions of people 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 suspect leaves. This will eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 per month renting out their bedrooms.
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In case you've got a site already then this really is a no-brainer. Some folks are making over $50,000 a month just like Michelle who teaches others how to earn 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 price for getting a site host a company that stores your site on servers so it can be viewed on the Recommended Site Internet.  Click here to get special pricing of $2.95/month with Bluehost.