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There are so many opportunities out there to create residual income in network marketing. Nonetheless, this is NOT one of these shady things. All these are legit means 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 generate money while you sleep. However, because it costs a lot to purchase a home, using a crowdfunding platform to invest in property can be a less expensive option.
If you want an easy, low-cost way to invest in income-producing commercial real estate, consider using a company like Fundrise. You only need $500 to begin and you can invest in more than 48 real estate products through property investment trusts.
Another company to consider is Rich Uncles as you can start investing in real estate with just as small as 5.
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Even though they promote an option to begin with $500, once you enroll for free you can browse their offerings. They actually 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's just what they are doing.
Dividend income is money paid to shareholders of shares in the form of cash in your bank account. Dividend-paying stocks are particularly enticing for individuals 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, be certain 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 other folks money who dont qualify for traditional financing. With investment returns in the 3-8% range, investing money with a company like Lending Club can get you a lot higher income results than a common savings or money market account.
If you are looking for a lower risk option, check out Worthy. They offer $10 bonds and pay a 5 percent return. One unique thing about them is that your money is liquid, which means 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 access 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 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 is to decrease your interest rate. If you have high-interest debt you want to find a lower interest rate on, have a look at 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 make passive income Then consider opening a high-yield savings view publisher site account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent which is 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 work of creating the book is done, selling books can be a great way to create some serious residual income.
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Once your book is available on a site like Amazon, you could receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, 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 after 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 a month renting out their 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 per month like Michelle who teaches others how to earn money online with her class Making Sense of Affiliate Marketing.
In case 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 find special pricing of $2.95/month using Bluehost.