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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. These are legit ways for you to make money while you sleep with something that satisfies 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 buy a house, 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 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 as small as 5.
Although they promote an option to begin 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 intention is to make real estate investing available to everyone and that's just what they are doing.
Dividend income is money paid to shareholders of shares in the shape of cash in your bank account. Dividend-paying stocks are especially enticing for individuals wanting to earn a living with passive income, as they will 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 you can depend on for dividend income for 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 3-8% range, investing money using a company like Lending Club can get you a lot higher income outcomes 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 cover a 5% return. One unique thing about these is that your money is liquid, which means that you can take it out at anytime.
This means if for any reason you need your money back, you are able to access it quickly and easily.
The less money youre paying in interest to creditors, the more money you've got in your pocket every month. Talk about a very simple kind of passive income. Getting out of debt fast can increase your income even more because youre no longer paying interest to lenders every month.
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One way to speed up your debt payoff is to lower your interest rate. If you have high-interest debt you want to get a lower interest rate on, check out Credible, which features loan amounts as low as 4.99% for 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 work of creating the publication is done, selling novels can be a fantastic way to produce some severe residual income.
Once your book can be found on a site like Amazon, you could get a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the longer you spend marketing your publications, the more money youll earn.
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Do you have an extra room that you rarely 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 at a resort, sometimes even for months at a time.
You can hire a maid service useful reference 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 per month renting out their spare bedrooms.
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In case you have a website already then this is a no-brainer. Some people are making over $50,000 a month just like Michelle who teaches others how to earn money online with her class Making Sense of Affiliate Marketing.
In case you dont have a web site, you can begin one for less than $3/month. Thats the price for getting a site host a company that stores your website on servers so it can be seen on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.