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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 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. However, since it costs a lot to purchase a house, using a crowdfunding platform 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 free of charge you can browse their offerings. They actually have a Student Housing REIT which has a minimum investment of $5.
Their goal is to make real estate investing available to everyone and that's just what they're doing.
Dividend income is money paid to shareholders 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, 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 are 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 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 greater income outcomes than a typical savings or money market account.
If you are looking for a lower risk option, check out Worthy. They provide $10 bonds and cover a 5% return. One unique thing about these is that your money is liquid, so that you can take it out at anytime.
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This means if for any reason you need your money back, then you can get it quickly and easily.
The less money youre paying in interest to creditors, the more money you have in your pocket each month. Talk about a simple form of passive income. Getting out of debt quickly can increase your income even more because youre no longer paying interest to creditors each month.
One method 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, check out 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 method to make passive income Then consider 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.
Although 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 publication is done, selling novels can be look at this now a great method to produce some severe residual income.
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Once your book is available 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 books, the more money youll make.
You can hire a maid service to clean and prep the room following 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 per month renting out their bedrooms.
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In case you have a site already then this really is a no-brainer. Some people are making over $50,000 a month just like Michelle who teaches others how to make money online with her course 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 sponsor a company that stores your website on servers so that it can be viewed on the Internet.  Click here to get special pricing of $2.95/month using Bluehost.