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There are many opportunities out there to make residual income in network marketing. However, this is NOT one of these shady things. All these are legit means for you to make money while you sleep using something that fits your passion, experience, or skill-set.
Real estate can be a terrific way to generate money while you sleep. But since it costs so much to purchase a house, using a crowdfunding system to invest in property can be a more affordable 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 as small as $5.
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Although they promote an option to start 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 intention 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 cash in your bank account. Dividend-paying stocks are especially enticing for those wanting to make a living with passive income, as they will get payouts each 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 certain that you educate yourself and select 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 folks 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 much higher income outcomes than a typical savings or money market account.
If you're looking for a lower risk option, have a look at Worthy. They provide $10 bonds and pay a 5% return. One unique thing about these is that our website your money is liquid, which means that 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 access it quickly and easily.
The money youre paying in interest to lenders, the more money you have in your pocket each month. Talk about a simple form of passive income. Getting out of debt fast can increase your income even more since youre no longer paying interest to lenders each month.
One way to boost your debt payoff would be to lower your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, have a look at Credible, which features loan amounts as low as 4.99% to refinancing your credit card debt.
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Are you looking for a low-risk way 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 1.55percent that's unreal.
While 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 task of creating the book is done, selling books 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 could get a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. 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 space after a guess 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 website already then this really is a no-brainer. Some folks are making over $50,000 a month like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.
In case you dont have a web site, you can start one for less than $3/month. Thats the price for getting a site sponsor 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.