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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. All 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. However, because it costs a lot to purchase a house, using a crowdfunding system to invest in real estate 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 real estate products through property investment trusts.
Another company to consider is Rich Uncles since you can begin investing in real estate with just as small as $5.
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Although they promote an option to start with $500, once you enroll for free you can browse 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's exactly what they are doing.
Dividend income is money paid to investors of stocks in the shape of money in your bank account. Dividend-paying stocks are especially enticing for those wanting to make 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 select solid stocks so you can depend on for dividend income for many 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 3-8percent range, investing money using a company like Lending Club can get you much higher income outcomes than a common savings or money market account.
If you are looking for a lower risk option, check out Worthy. They provide $10 bonds and pay a 5% return. One unique thing about them is Related Site that your money is liquid, which means you can take it out at anytime.
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This means if for any reason you need your money back, you can 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 simple kind of passive income. Getting out of debt quickly can increase your income even more since youre no longer paying interest to lenders each month.
One method to speed up your debt payoff would be to decrease your interest rate. If you've got high-interest debt that you want to find a lower interest rate on, check out Credible, which offers loan amounts 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 such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% which is unreal.
Although 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 work of creating the book is done, selling novels can be a great method to produce some serious residual income.
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Once your book is available on a website like Amazon, you can get a check every month for doing absolutely 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 earn.
You can hire a maid service to clean and prep the space 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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In case you have a website already then this really is a no-brainer. Some people are making over $50,000 a month like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.
In case you dont have a web site, 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 that it can be seen on the Internet.  Click here to get special pricing of $2.95/month with Bluehost.