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There are many opportunities out there to create residual income in network marketing. However, this is NOT one of those shady things. These are legit means for you to earn money while you sleep with something that satisfies your passion, experience, or skill-set.
Real estate can be a terrific way to generate money while you sleep. But because it costs so much to purchase a house, using a crowdfunding platform to invest in real estate can be a less expensive 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 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 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 register for free you can navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.
Their goal is to make real estate investing available to everyone and that is just what they are doing.
Dividend income is money paid to shareholders of stocks in the shape 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 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, be certain 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 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 results than a common savings or money market account.
If you are looking for a lower risk option, have a look at Worthy. They offer $10 bonds and pay a 5% return. One unique thing about these is 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, then you are able to get it quickly and easily.
The 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 quickly can increase your income even more because youre no longer paying interest to creditors every month.
One way to boost your debt payoff is to decrease your interest rate. If you've got high-interest debt you want to find a lower interest rate on, have a look at look at these guys Credible, which offers loan rates 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 1.55% 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 produce some serious residual income.
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Once your book is available on a site like Amazon, you can receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the longer you spend marketing your books, the more money youll earn.
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 per month renting out their bedrooms.
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In case you've got a website already then this really is a no-brainer. Some folks 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.
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 site on servers so that it can be viewed on the Internet.  Click here to get special pricing of $2.95/month with Bluehost.